Ocean View, DE -- (SBWire) -- 04/15/2020 --The global autonomous cars market will witness exponential growth over the timeframe of 2018-2024 driven by increasing adoption of self-driving technology. In order to curb growing prevalence of road accidents and fatalities associated with the same, governments have been deploying vehicle safety norms which will further impel industry trends.

Surging investments in the development of road and telecom infrastructure to support autonomous vehicle facilities will boost product demand over the coming years. Global Market Insights, Inc., estimates that autonomous cars market size will surpass 60 million units by 2024.

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The level-1 based autonomous cars market is primarily driven by the rising road-safety concerns around the world as more and more vehicles are added to the roads each year. The increasing road-safety concerns have prompted governments across the world to introduce programs that mandate the incorporation of ADAS inside vehicles to ensure passenger safety.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Aptiv PLC
2. Autoliv Inc.
3. Baidu Inc.
4. BMW Group
5. Bosch GMBH
6. Continental AG
7. Daimler AG
8. FCA Fiat Chrysler Automobiles
9. Ford Motor Company
10. General Motors Company
11. Honda Motor Company Ltd.
12. Hyundai Motor company
13. Intel Corporation
14. Jaguar Land Rover Limited
15. Nissan Motor Company Ltd.
16. Nvidia Corporation
17. Subaru of America, Inc.
18. Tesla Inc.
19. Toyota Motor Corporation
20. Volvo Car Corporation
21. Waymo

The level-4 autonomous vehicles – currently under the research phase – are expected to be commercially made available in the market by 2022. The rapidly increasing number of research & development efforts by industry leaders in the automated driving domain would be responsible for the growth of level-4 based autonomous cars market in the years to come.

On the other hand, technology companies are also looking forward to investing in the development of myriad self-driving vehicles. For instance, the self-driving vehicle tech division of Intel, Mobileye is planning to launch self-driving car service in Israel. By entering into the autonomous cars market, Intel is looking forward to targeting its rivals including Nvidia and AMD which have been providing services to prominent automakers since last few years.

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In China, Ford and Baidu have recently signed an agreement to build a testing platform for self-driving vehicles. In fact, they are planning to achieve the level 4 autonomy by running the self-driving vehicles within specific areas over the coming two years. Ford is also looking forward to collaborating with Mercedes-Bez to test cars in Beijing.

In another instance, the self-driving car division of Alphabet, Waymo received a grant from U.S. government to test fully self-driving vehicles on the public streets of California. Waymo is one of the first companies which has received permission to actually test cars on roads. It is rather overt that the support provided by regional governments will play a major role in impacting autonomous cars market trends.

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.