The “Autonomous Cars Global Market Report 2021: COVID-19 Growth and Change to 2030” report has been added to ResearchAndMarkets.com’s offering.
Autonomous Cars Global Market Report 2021: COVID-19 Growth and Change to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global autonomous cars market.
Major players in the autonomous cars market are BMW Group, Tesla Inc., Ford Motor Company, General Motor Company, Nissan Motor Corporation, Daimler AG, Toyota Motor Corporation, Volkswagen AG, Volvo Group and Waymo LLC.
The global autonomous cars market is expected to grow from $719.94 billion in 2020 to $809.15 billion in 2021 at a compound annual growth rate (CAGR) of 12.4%.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1383.89 billion in 2025 at a CAGR of 14%.
Rise in the development of smart cities is a key factor driving the growth of the autonomous cars market. The electric autonomous cars help reduce air pollution in smart cities and also help to fight climate change. By using driverless cars, traffic accidents can be decreased by 90%, significantly improving the safety of our roads.