According to the
report analysis, ‘Europe
Self-driving Car Market (2018-2024)’ it is stated that some of the
major key players for dominating the huge market share are working more
significantly in Europe by doing developments and innovations for gaining
profit more extensively includes Apple, Microsoft, IBM, Volvo, Nissan, Bosch
and several others. With the effective working of the key players the
international key players are willing to come for gaining higher return on
their investment which makes the market more competitive and fruitful for both
the key player and user. It is expected that the 90% crashes would reduce with
the introduction of self-driving cars. The market of self-driving car in Europe
is expected to grow at a CAGR of 49.9%, foremost to global revenue of USD 38.51
Billion by 2024.
A self-driving car is
also known as an autonomous car, a robotic car or a car in which requirement of
a driver not compulsory. Whereas, the self-driving car is a combination of
radar sensor, cameras, artificial intelligence and GPS system for travelling
between destinations without the requirement of any human drivers. Moreover,
the self-driving car market in Europe is further divided based on applications,
automation and technology components. The sector of applications is also split into
personal use and commercial use. However, major portion of the self-driving
cars on the road are owned for personal usage. 'Robo taxi' i.e. the
self-driving taxi is predictable to take over the transportation system. It
would help to decrease buying cost and preservation cost. It is supposed to
improve the share riding conception. Furthermore, the key players of this
market are playing an important role for dominating the huge market share in
Europe by doing significant developments in the specifications of the
technology which become profitable for leading the fastest market growth in the
near future.
Based on the regions,
the market of self-driving car is divided into EU5 and rest of EU5. The EU5
would shelter with the uppermost market share because countries such as U.K.
and France are succeeding with self-driving cars. Moreover, on the basis of
automation, the self-driving automation levels are characterized into
semi-autonomous and full autonomous technology. However, semi-autonomous cars
are governing the automation sector. Fully autonomous operated vehicles are
still a long way to be established on the roads. European automakers are employed
on the introducing of semi-automation cars. Companies like Google, Audi and BMW
are pursuing its autonomous analysis to handle security challenges.
Feature that may
confine the acceptance of self-driving cars is lack of skill; limit the data
protection regulation set by the European Union. For instance, by 2035, it is
anticipated that there would be 25% of self-driving car dissemination in this
region. The countries would not observe a fully automated vehicle but would
operate lots of manual cars with computerized features. Therefore, in the near
future, it is expected that the market of self-driving car in Europe will grow
more significantly with an effective development and investment by the focused
key players.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
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