Europe Semi & Fully Autonomous Vehicle Market to Surpass $ 16 Billion by 2030

Growing focus of governments to boost autonomous vehicle industry coupled with increasing R&D in self-driving concept to drive Europe semi & fully autonomous vehicle market through 2030

According to TechSci Research report, “Europe Semi & Fully Autonomous Vehicle Market By Automation Level, By Component, By Vehicle Type, By Country, Competition Forecast & Opportunities, 2016-2030”, Europe semi & fully autonomous vehicles market is projected to cross $ 16 billion by 2030 on account of growing consumer acceptance towards autonomous vehicles and rising inclination towards safe & secure driving. Moreover, increasing government support to the concept of autonomous vehicles is further fueling growth in Europe semi & fully autonomous vehicles market. Additionally, several car manufacturers as well as technology giants are expanding their research and development activities to develop more efficient and safer autonomous vehicles, which is further expected to buoy the autonomous vehicles market across Europe over the next five years.

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Based on automation level Europe semi & fully autonomous vehicles market is segmented into L0, L1, L2, L3 and L4/L5. Vehicles enabled with Level-1 or function specific automation dominated the market with a majority volume share in 2016, followed by the L0 and L2 segments. Among component types, embedded systems segment dominates Europe semi & fully autonomous vehicle market owing to high level of security in semi-autonomous cars. A large demand for autonomous vehicles emanates from Germany as the country is one of the leading automobile manufacturers and is well versed in automotive technological innovations.

“Europe is witnessing an increase in research and development projects in autonomous vehicles by several automobile and technology giants. Moreover, with favorable government policies and growing preferences among people towards autonomous vehicles, the market is expected to continue growing in the coming years.  Autonomous vehicles are much safer than the conventional automobiles and help curb the rising cases of road accidents across the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Europe Semi & Fully Autonomous Vehicle Market By Automation Level, By Component, By Vehicle Type, By Country, Competition Forecast & Opportunities, 2016-2030” has analyzed the potential of autonomous vehicle market across the region, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by Europe semi & fully autonomous vehicle market.

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