Technavio has been monitoring the autonomous cars software market and it is poised to grow by USD 3.26 billion during 2020-2024, progressing at a CAGR of over 36% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Alphabet Inc., Apple Inc., Baidu Inc., BlackBerry Ltd., Cisco Systems Inc., Delphi Technologies Plc, Intel Corp., NVIDIA Corp., Robert Bosch GmbH, and Tesla Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
- Based on segmentation by product, which is the leading segment in the market?
- The level 3 autonomous cars segment is expected to be the leading segment.
- At what rate is the market projected to grow?
- Growing at a CAGR of over 36%, the incremental growth of the market is anticipated to be USD 3.26 billion during the forecast period.
- Who are the top players in the market?
- Alphabet Inc., Apple Inc., Baidu Inc., BlackBerry Ltd., Cisco Systems Inc., Delphi Technologies Plc, Intel Corp., NVIDIA Corp., Robert Bosch GmbH, and Tesla Inc. are some of the major market participants.
- What are the key market drivers and challenges?
- Lower chance of human error and accidents and the increase in mergers and acquisitions (M&A) in the automotive industry are the major factors driving the market. However, the high cost of autonomous cars restraints the market growth.