Sharp Growth In Autonomous Car Market Value Predicted But May Be Stalled By Rise In Consumer Fear

While recent surveys reveal fear of driving or riding in self-driving vehicles is on the rise, a new study predicts the value of the global autonomous vehicle market will grow more than tenfold from 2019 to 2026.

The study from Portland, Ore.-based Allied Market Research  concludes  the global market for autonomous vehicles will be worth $54.23 billion in 2019 and increase to $556.67 billion by 2026 with a compound annual growth rate of 39.47% during that period.

Main drivers of the expected boom, according to the report, are “elimination of accidents caused due to manual errors, reduced carbon dioxide emission from autonomous vehicle ... less battery capacity & less consumption of gas by autonomous vehicle and high penetration in the automotive sector also contribute to the market growth.”

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