According to the latest report from IMARC Group, the Indian autonomous vehicle market is expected to show a CAGR of XX% during 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, Oct. 8, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report “Indian Autonomous Vehicle Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022 -2027”, The India autonomous vehicle market is expected to show a CAGR of XX% during 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who plan to enter the market in any way.
Autonomous vehicles, also called autonomous vehicles or driverless vehicles, can operate on their own and perform necessary functions by sensing and analyzing their environment with little or no human intervention. They are equipped with light detection and ranging (LiDAR), artificial intelligence (AI) software, radio detection and ranging (RADAR), cameras with integrated sensors, etc.
Autonomous vehicles can create active 3D maps that track motion sequences of 3D structures based on corresponding points in images, as well as help them continuously monitor the surrounding environment and maneuver independently. In line with this, they use connected technology to facilitate infrastructure-to-vehicle and vehicle-to-vehicle communication, resulting in effective traffic management. Autonomous vehicles offer several other benefits, including lower battery operating costs, improved safety features, reduced fuel consumption and emissions, etc.
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Note: We regularly track the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Continuous technological advances in the automotive sector are driving the adoption of the Internet of Things (IoT), machine learning (ML) and artificial intelligence (AI), which are primarily driving the Indian autonomous vehicle market. Additionally, the increasing utilization of smart traffic lights and connected infrastructure in parking garages and toll booths to minimize traffic congestion is further catalyzing market growth. In addition to this, the launch of numerous favorable policies by the Indian government agencies to increase road safety is acting as another important growth-inducing factor. Furthermore, the increasing levels of disposable income of the people and the extensive R&D activities are also driving the growth of the market across the country. Apart from this, the introduction of advanced features such as Lane Departure Warning (LDW) and Automatic Emergency Braking (AEB), which increase autonomous driving capabilities in cars and ensure low risk of accidents, are expected to be introduced. , will boost India’s autonomous vehicle market. the planned period.
Breakdown by component:
Software and Services
Breakdown by level of automation:
Breakdown by application:
Transport and logistics
Military and Defense
Breakdown by region:
West and Central India
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the report:
Market performance (2016-2021)
Market outlook (2022-2027)
Market drivers and success factors
Impact 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 grips the world, we continually follow changes in markets as well as consumer industry behaviors globally and our estimates on the latest market trends and forecasts. are made after considering the impact of this pandemic.
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