Self driving Cars and Trucks Market Size, Share & Trends

Self driving Cars and Trucks Market Size, Share & Trends

The global self‑driving cars and trucks market size is expected to be approximately 6.7 thousand units in 2020 and is anticipated to expand at a CAGR of 63.1% from 2021 to 2030. Self-drive cars, also known as autonomous vehicles, are a key innovation in the automotive industry. These vehicles have high growth potential and are acting as a catalyst in technological developments of automobiles.

Development of a supportive regulatory framework, government funding, and investments in digital infrastructure are expected to play a key role in positively affecting market growth over the forecast period. The market for autonomous cars and trucks has a wide range of products and systems that make up the self-driving vehicle infrastructure.

Autonomous vehicles are made up of numerous sensors, such as LiDAR and RADAR systems, working concurrently to carry out operations automatically or without the help of drivers. By performing situational analysis, motion planning, and trajectory control, these sensors help in the process of navigation.

Rising safety concerns and advancements in automotive technologies have led to market penetration and acceptance of driverless cars and trucks by governments of various countries, such as U.S., Germany, China, and Japan.

Read more: https://www.grandviewresearch.com/industry-analysis/driverless-cars-market