According to the latest report from IMARC Group, the Indian autonomous vehicle market is expected to register a CAGR of XX% over the period 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, Oct. 8, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, “India Autonomous Vehicle Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The Der Indian Autonomous Vehicle Market is forecast to register at a CAGR of XX% during the period 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketers, and anyone planning to enter the market in any way.
Autonomous vehicles, also called self-driving cars or driverless cars, can drive themselves and perform necessary functions by sensing and analyzing their surroundings with minimal or no human intervention. They are equipped with Light Detection and Ranging (LiDAR), Artificial Intelligence (AI) software, Radio Detection and Ranging (RADAR), sensor-integrated cameras, etc.
Autonomous vehicles can create active 3D maps that track the trajectories of 3D structures based on corresponding points in images, as well as help them continuously monitor their surroundings and maneuver independently. Accordingly, they use connected technology to facilitate infrastructure-to-vehicle and vehicle-to-vehicle communications, resulting in effective traffic management. Autonomous vehicles offer several other benefits including lower battery running costs, improved safety features, reduced fuel consumption and emissions, etc.
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Note: We regularly track the direct impact of COVID-19 on the market as well as the indirect impact of related industries. These observations are integrated into the report.
Continuous technological advancements in the automotive sector are driving the adoption of Internet of Things (IoT), Machine Learning (ML) and Artificial Intelligence (AI), which are primarily driving the Indian autonomous vehicle market. In addition, the increasing use of intelligent traffic lights and connected infrastructures in parking garages and tollbooths to minimize traffic congestion further drives the market growth. In addition, the introduction of numerous favorable measures by the Indian government to increase road safety is another important growth factor. In addition, rising disposable incomes of individuals and extensive R&D activities are fueling the market growth across the country. Apart from that, the introduction of advanced features such as Lane Departure Warning (LDW) and Automatic Emergency Braking (AEB), which enhance the self-driving capabilities of cars while ensuring low risk of accidents, are expected to boost the Indian autonomous vehicle market over the forecast period.
Breakdown by component:
Software and Services
Breakdown by degree of automation:
Separation by application:
transportation and logistics
military and defense
Breakdown by region:
West and Central India
The competitive landscape of the industry has also been studied along with the profiles of the major players.
Key highlights of the report:
Market performance (2016-2021)
Market Outlook (2022-2027)
Market drivers and success factors
Effects of COVID-19
Analysis of the value chain
Comprehensive mapping of the competitive landscape
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As the novel coronavirus (COVID-19) crisis sweeps the world, we continuously monitor the changes in the markets as well as the industry behavior of consumers worldwide and our estimates on the latest market trends and forecasts are made after considering the impact of this pandemic.
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