"Growing demand for luxury vehicles is set to drive the autonomous vehicle market for luxury segment""
The overall autonomous vehicle market for luxury segment is intended to be 27,906 units in 2025 and is estimated to grow to 126,774 units by 2030,at a compound annual growth rate (CAGR) of ~35.3 percent.Growing accident fatalities along growing concern for vehicle safety and security have accentuated the need for the development of autonomous vehicles.
Other Elements such as an rise in disposable income,the increase in purchasing power,and changing buyer preferences have fueled the sector for luxury and premium cars,which is in turn projected to drive the autonomous vehicle market for luxury segment.On the other hand,the lack of infrastructure is the top restraint for the increase of autonomous luxury vehicles.The autonomous vehicle market for luxury segment requires basic infrastructure including well-organized roads,lane marking,and availability of GPS for effective functioning.The lack of infrastructure in developing countries could make it difficult to achieve a common platform for autonomous luxury vehicles.
"Car Sharing: The quickest increasing segment of the autonomous vehicle market for luxury segment,by end-user""
Changing consumer attitude about vehicle ownership and rising penetration of shared mobility are anticipated to fuel the market demand for the autonomous luxury vehicle car sharing market.Car sharing services offer convenience and cost savings for consumers.Also,car sharing services reduce operating costs including maintenance,tires,and gas.The preference for luxury vehicles and increasing market for vehicle car sharing will fuel the luxury autonomous vehicle car sharing market.
"Radar Sensors: The quickest increasing component of the autonomous vehicle market for luxury segment""
The radar sensor is forecasted to be the quickest increasing component of the autonomous vehicle market for luxury segment.The main advantage of radar is that it can be used for long as well as short distance ranges.At present,advanced driver assistance system technologies including adaptive cruise control,lane departure warning,blind spot detection,and park assist use the radar sensor technology.Elements such as the growth in demand for high-end cars,regulations for improved safety,changing buyer preferences,and growing roadways infrastructure will contribute to the rise of radar sensors market for autonomous luxury vehicle.
"EU: The fastest growing area in the autonomous vehicle market for luxury segment""
The European autonomous vehicle market for luxury segment is expected to grow at the highest compound annual growth rate (CAGR) during the outlook period.Europe (EU) is a hub for automotive giants and premium vehicles.The industry demand for luxury vehicles is high in countries including Germany,Italy (IT),United Kingdom,Spain (ES),and France (FR).Also,Germany (DE) is home to different luxury OEMs including BMW Group,Audi AG,and Daimler AG,which in turn encourages the market increase of autonomous vehicles market for luxury segment.
The market research includes insights of different industry experts,ranging from component suppliers to Tier 1 firms and Original equipment manufacturers.The break-up of the primaries is like:
• By Company Type- OEMs- 45.0 percent,Tier 1 35.0 percent Tier 2 - 20.0 percent
• By Designation- C level - 35.0 percent,D-suite - 25.0 percent,Others - 40.0 percent
• By Region- North America - 40.0 percent,EU - 30.0 percent,Asia-Pac - 25.0 percent,RoW - 5.0 percent
The document breaks down the autonomous vehicle market for luxury segment and forecasts its size,by quantity,on the basis of area (Asia Pacific (APAC),Europe (EU),North America continent,and RoW),body type (sedan/hatchback and SUV),component type (biometric sensors,radar sensors,LiDAR sensors,ultrasonic sensors and camera unit),fuel type,ICE,and FCEV),and end-user (car sharing and personal mobility).
The industry report also offers a comprehensive review of market drivers,industry restraints,possibilities,and opportunities in the autonomous vehicle market for luxury segment.The study also includes qualitative aspects additionally to the quantitative aspects of these sectors.
The analysis will facilitate the market top players/new sector entrants in this sector by providing them the closest approximations of the revenue numbers for the global autonomous vehicle market for luxury segment and their subsegments.This industry report will facilitate partners to better find out the competitor overview and gain insights to better option their businesses and make suitable go-to-market approaches.The market research also benefits the partners to comprehend the pulse of the sector and offers them information on main market drivers,market restraints,opportunities,and alternatives.