Global Self-Driving Car Market Report, published by Variant Market Research, forecast that the global market is expected to reach $20 billion by 2024; growing at a CAGR of 25.7% from 2016 to 2024. By geography, North America is expected to hold the largest position holding the major share in the global self-driving car market.

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The key driving factor of the self-driving car market is growing concern about reducing the number of accidents caused by human mistakes. Additionally, the growing technological advancement in the ever-increasing automation industry, in addition to increasing demand for smart and luxury cars globally are also fueling the growth of self-driving car market. The unavailability of the compatible infrastructure of these driverless cars and risk associated with privacy & security would act as a restraint for the market. Increasing research & development investment for commercialization of driverless cars, and majority of the manufacturers have showed an acute interest in manufacturing, developing, and commercializing of these cars which is highly expected to bring several growth opportunities for the market during the forecast period.
The global self-driving car market is majorly classified on the basis of components, and geography. By components, the self-driving car market is split as hardware, software, radar, optical cameras, Lidar, and others. Within the component segment, software sub-segment is expected to hold largest market share throughout the forecast period, owing to increasing technical advancement in software segment such as advanced driver assistance systems to enhance protection and driving process.

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North America, Europe, Asia-Pacific, and Rest of the World (South America, Middle East & Africa) are the major geographical segments of the global self-driving car market. The major share of the market holding about 40% is occupied by North America; also growing at the fastest CAGR in the forecasted period, due to the early implementation and the presence of significant market players in this region such as Ford, General Motors, and Tesla. Though, Asia Pacific is likely to witness substantial growth rate in the forecast period 2016-2024; growth being driven by China, India, Japan, and South Korea.
The key players of the market are Google Inc., Tesla Motors, Inc., BMW AG, Daimler AG, Audi AG, Nissan Motor Company, Ford Motor Company, Toyota Motor Corporation, Volkswagen, Volvo Group, Apple Inc., Dutch Automated Vehicle Initiative (DAVI), and Baidu Inc. among others.

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Scope of Self Driving Cars Market
Component Segments
• Hardware
• Software
• optical cameras
• Lidar
• Radar
• Other

Geographical Segments
• North America
o US
o Canada
o Mexico

• Europe
o Germany
o France
o United Kingdom
o Spain
o Others

• Asia-Pacific
o China
o India
o Japan
o South Korea
o Others

• RoW
o South America
o Middle East
o Africa

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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