Battery-Electric Self-Driving Car Market Outlook – 2027
Self-driving cars use various innovative sensors such as light detection & ranging (LiDAR), artificial intelligence (AI), radio detection & ranging (Radar), sound navigation & ranging (Sonar), global positioning system (GPS), and odometry sensing technology. Thereby, sensors are used for analyzing & creating a virtual map of the surroundings around the vehicle and driving safely with a slight or even no human support. The rotation torque provided to the self-driving cars is usually ensured by the battery pack installed in the vehicle. In addition, major developments in technology used in self-driving vehicles such as facial expression detection and activities such as braking & accelerations to avoid possible collisions make the vehicle powerful, effectual, & attractive. Therefore, the innovative autonomous technology provided by the self-driving car manufacturers is expected to drive the market growth for the battery-electric self-driving car market.
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The major players analyzed include Mercedes Benz, Volvo Cars, BMW, Google Inc, Tesla Inc, General Motors, Ford Motors, Volkswagen Group, Apple Inc., and Toyota Motors.
COVID-19 scenario Analysis:
Majority of battery-electric self-driving car manufacturers are facing issues such as security risks and workforce unavailability majorly due to the government declared lockdown in the Corona virus affected countries.
The vendor in the autonomous industry across the globe is affected severely due to the restrictions on producers as well as the declared lockdowns, which in turn is affecting the production of the battery-electric self-driving cars worldwide.
The battery-electric self-driving car industry is an evolving sector due to which it has to struggle to survive in the market during the COVID-19 crisis, which in turn has disrupted all type of demand and supply chain networks for the battery-electric self-driving car manufacturers.
Europe is a major manufacturing hub for the battery-electric self-driving car industry in the world, which has been significantly affected by the pandemic, owing to a complete operation shut down for the battery-electric self-driving car manufacturers.
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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Growth in technology & dynamic mobility application such as connected vehicle, need for safe, productive & efficient driving option and reduction of the carbon discharge from autonomous vehicles are driving the growth of the market. However, cyber security & safety concerns and non-availability of required infrastructure in developing countries is expected to hamper the growth of the market. On the contrary, autonomous cars as a mobility service and robotic assistance help in the growth of self-driving cars, which is expected to provide lucrative opportunity for the market investments.
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The battery-electric self-driving car market trends are as follows:
Reduction of the carbon discharge from autonomous vehicles
Battery-electric self-driving cars can help reduce the carbon pollution emitted when compared with the internal combustion Engine (ICE) vehicles. Owing to the stringent government policies major automotive manufacturers are investing a huge amount of money in the production of electric self-driving vehicles. For instance, Daimler has invested €500 million in the development of Mercedes-Benz electronic autonomous fleet.Furthermore, autonomous technologies such as facial expression detection and activities such as braking & accelerations to avoid possible collisions, consistent driving speeds & keeping a measured distance between the vehicles can avoid unnecessary breaking and re-acceleration. Moreover, electronic models of self-driving cars with abattery-electric engine can further reduce pollution by eliminating or reducing the use of crude oil.Therefore, the reduction of carbon discharge from autonomous vehicles is anticipated to boost the market growth for the battery-electric self-driving car during the forecast period.
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Key benefits of the report:
This study presents the analytical depiction of the battery-electric self-driving cars industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the battery-electric self-driving car market.
The current market is quantitatively analyzed from 2019 to 2027 to highlight the battery-electric self-driving car market growth scenario.
We can also determine autonomous segment will remain a significant revenue shareholder in the battery-electric self-driving car market through the predictable future.
Questions answered in the battery-electric self-driving car market research report:
Which are the leading market players active in the battery-electric self-driving car market?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What are the projections for the future that would help in taking further strategic steps?
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