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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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.
They key players included in the Battery-Electric Self-Driving Car Market analysis are Mercedes Benz, Volvo Cars, BMW, Google Inc, Tesla Inc, General Motors, Ford Motors, Volkswagen Group, Apple Inc., Toyota Motors.
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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Key findings of the study
▶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.
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