BURNABY, Canada, June 10, 2015 /PRNewswire/ --
Expected increase in the regulations coupled with anticipated fall in prices to drive global autonomous car technology market through 2035
According to recently released TechSci Research report, "Global Autonomous Car Technology Market Forecast and Opportunities, 2035- ADAS, Semi-Autonomous& Fully-Autonomous", global autonomous car technology market is forecast to witness a CAGR of over 10% through 2035. Growth in the market is anticipated on account of expected increase in regulations mandating integration of autonomous technology in cars, and the anticipated fall in prices due to mass production over the next twenty years. In addition, use of autonomous car technology will result in reduction of collisions and RTAs over time, which would be another factor encouraging adoption of autonomous car technology across the world.
Despite its miniscule share in global autonomous car technology market in 2015, the semi-autonomous car technology segment is forecast to witness fastest growth during 2015-25. Rapid growth in this segment is expected on account of anticipated increase in adoption of the technology, coupled with expected decline in price which will drive volume sales of semi-autonomous cars during the next ten years. On the contrary, during 2025-35, fully-autonomous car technology is anticipated to witness fastest growth on account of increase in volume production and consumption, globally.
"Backed by increasing number of laws and regulations pertaining to autonomous technologies of various levels, regions like North America and Europe have emerged as the most prominent markets for autonomous car technologies. North America is anticipated to be the largest market for autonomous technologies in 2015, followed by Europe. However, during 2025-35, Asia-Pacific and MENA are anticipated to exhibit robust growth and are expected to collectively account for the largest share in the market in 2035," said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Global Autonomous Car Technology Market Forecast & Opportunities, 2035- ADAS, Semi-Autonomous & Fully-Autonomous" has evaluated the future growth potential of autonomous car technology market and provides statistics and information on market structure, region-wise segmentation and industry behavior. The report includes autonomous car technology market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities existing and expected in global autonomous car technology market.
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SOURCE TechSci Research