A self-driving car refers to an
autonomous car or robotic car or a driverless car. In addition, a self-driving
car has a combination of radar sensor, GPS system, artificial intelligence and
cameras to travel from one place to another without the need of any human
drivers. The self-driving market in Latin America is further divided based on
applications, automation, and technological components. The sector of
applications are further characterized into personal use and commercial use.
Primarily, self-driving cars will be possessed personally. The region is
presented a great interest towards autonomous driving technologies.
Approximately half of the populace measured believe that autonomous vehicles
will progress the flexibility in the city. Moreover, the key players of this
market are doing an effective developments in the technology of self-driving
car for dominating the huge market share in the forecasted period which further
proved to be profitable for leading the highest market growth in the reviewed
period.
According to the report analysis, ‘Latin
America Self-driving Car Market (2018-2024)’ states that some of the
major key players which are presently functioning in this market more actively
for leading the highest share in the market by doing significant developments
in the technology of self-driving cars technology for accomplishing the growing
demand of potential buyers includes Apple, Microsoft, Toyota, Nissan, General
Motors and several others. Whereas, the report also cover the effective
information related to the important aspects of the markets includes market
drivers, market trends, market challenges, value chain, company snapshot,
product, global presence, recent initiatives, geographic share of revenue and
several others. Moreover, it is expected that with the introduction of
self-driving car crash would reduce by 90%. The Latin America self-driving car
market is anticipated to increase at a CAGR of 28.5%, leading to global revenue
of USD 3.75 Billion by 2024.
Latin America self-driving market is
further split differently based on applications, automation, and technological
components. Meanwhile, the application sector are further considered into
personal use and commercial use. Initially, self-driving cars will be owned
personally. Additionally, the Latin America is demonstrating a great interest
towards autonomous driving technologies. Whereas, around half of the people
investigate and believe that autonomous vehicles will develop the mobility in
the city. Furthermore, the self-driving car market is divided basis on the
several technological components that are used in autonomous cars like radar,
lidar, automotive vehicle camera, ultrasonic sensor, and GPS navigation system.
While, the radar-based driver assistance systems are previously being used
right now.
Additionally, factors that may
restrain the implementation of self-driving cars are regulation, deprived
infrastructure, i.e. poor road quality and less number of active AV test.
Whereas, the Latin America can hurry up the acceptance of autonomous vehicles
if proper procedures are taken into contemplation. According to an examination,
conducted by an automotive company, more than half of the surveyed populace
have favorable opinion about autonomous cars. Furthermore, it is expected that
the market of self-driving car in Latin America will rise more positively with
the effective investment by the new entrants in the development of the
technology over the recent few years.
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