Pune, Nov. 03, 2020 (GLOBE NEWSWIRE) — The global autonomous cars market size is set to gain traction from the increasing innovations occurring in the transportation and automotive industry. Besides, the rising adoption of ride-hailing technology is leading several prominent manufacturers to invest in the field of driverless ride-sharing. This information is published by Fortune Business Insights™ in a new report, titled, “Autonomous Cars Market Size, Share & COVID-19 Impact Analysis, By Type (Fully Autonomous and Semi-Autonomous), By Vehicle Type (Passenger Cars and Commercial Vehicles) and Regional Forecasts, 2020-2027.” The report further states that the autonomous cars market size was valued at USD 1.82 billion in 2019 and is projected to reach USD 1.33 billion by 2027, exhibiting a CAGR of 3.3% during the forecast period.
COVID-19: Disruptions in Cross Border Trade to Hamper Growth
The emergence of the COVID-19 pandemic across the globe has resulted in the deployment of complete lockdown measures by regulatory bodies. It has also compelled manufacturers to shut down their facilities and reduce the workforce. China, being the major provider of automobile components, is severely impacted. Disruptions in cross border trade would also hamper the demand for autonomous cars. Our reports would help you better understand the current situation and adopt suitable strategies for business growth.
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This Report Answers the Following Questions:
- How will the companies boost sales amid COVID-19?
- Which region would lead the market in the near future?
- Which firms are set to dominate the market in the coming years?
- What are the current challenges and opportunities in the global market?
Drivers & Restraints
Rising Commercialization of Autonomous Cars Technology to Spur Demand
The global transportation network is set to be altered on account of the increasing commercialization of autonomous cars technology. Governments of various countries are implementing strict laws and norms to promote automation in vehicles. This would help in enhancing the safety and security of passengers, vehicles, and pedestrians.
Full story available on Benzinga.com