The global self-driving/autonomous cars and trucks market size is anticipated to reach 4,223 thousand units by 2030, exhibiting a CAGR of more than 63% between 2020–30, according to a report by Research and Markets.
The growth is predicted to be due to rapid advancements in technologies in the industry, Research and Markets noted, and because of heavy investment in a number of key players in the industry.
"An autonomous vehicle is a combination of various sensors and networking systems that assist computers in driving vehicles," stated Research and Markets. "Several technology providers such as Google and Tesla have also entered the market, and they are are contributing to the research and development of autonomous vehicles."
Visit Innovation Enterprise's Chief Innovation Officer Summit in New York on December 6–7, 2018
The report found that the North American market has been predicted to make up the largest share of the market, owing to the number of regulations expected to be adopted by the population to account for the demand. Additionally, Research and Markets noted that China and Japan will be expected to witness significant growth during the forecast period.
The market size of the defense segment is expected to expand at the highest CAGR, growing at more than 86% from 2020–30.