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Asia-Pacific Self-driving Car Market Outlook to 2024: A $44.69 Billion Opportunity with Apple, Microsoft, Toyota, General Motors, and Volvo Dominating - ResearchAndMarkets.com

December 14, 2018

DUBLIN--(BUSINESS WIRE)--Dec 14, 2018--The “Asia-Pacific Self-driving Car Market (2018-2024)” report has been added to ResearchAndMarkets.com’s offering.

The Asia-Pacific self-driving car market is expected to expand at a CAGR of 58.7%, leading to global revenue of USD 44.69 billion by 2024. The region has safety concerns. Approximately, an average of 645,000 road accidents takes place every year. 90% of road accidents are because of human error. Self-driving or autonomous car will act as a driving factor to minimize accidents and improve vehicle safety. Autonomous cars have gained enough hype in Asia-Pacific. Large tech companies like Alibaba, Baidu, Didi Chuxing and Softbank are investing on the self-driving cars in the hope to capitalize shortly. Factors that may restrain the adoption of self-driving cars are regulation and lack of safety standard on autonomous cars.Asia-Pacific self-driving market is further segmented based on applications, automation, and technological components.The segment applications are also categorized into personal use and commercial use. Initially, self-driving cars will be owned personally. However, overtime many auto-manufacturers, automotive technology providers and ride sharing providers are working to offer self-driving taxi. For example, Yandex Taxi has introduced two self-driving cabs in the Russian city of Innopolis which has a population of 300.

Based on automation, the self-driving automation levels are categorized into semi-autonomous, and fully autonomous. Semi-autonomous cars are dominating the automation segment. However, car-manufacturers targets to introduce full autonomous cars by 2020. By 2017, 29 Mn new cars were sold in China and it is expected to reach 37 Mn by 2025. It is forecasted that approximately 25% of new cars manufactured would be level 2 and level 3 by 2025.

The self-driving car Market segment based on various technological components that are used in autonomous cars like radar, lidar, automotive vehicle camera, ultrasonic sensor and GPS navigation system. Since the region is highly prone to traffic crash, radar-based driver assistance system is already deployed in the car for safety purpose. Singapore is the first country in APAC (Asia-Pacific) to adopt 79 GHz band for the short-range radar (2007).

Based on countries, the self-driving cars market is segmented into China, Japan, India, South Korea and the rest of the APAC (Asia-Pacific) market. Japan and China will lead the deployment of self-driving cars. China is forecasted to be the biggest market of self-market because most of the vehicles owners are very enthusiastic to drive a self-driving car.Key Players ProfiledAppleMicrosoftToyotaGeneral MotorsVolvo

Topics Covered

Chapter 1. Executive Summary

Chapter 2. Asia-Pacific Self-Driving Car Market Overview

Chapter 3. China Self-Driving Car Market Overview

Chapter 4. Japan Self-Driving Car Market Overview

Chapter 5. India Self-Driving Car Market Overview

Chapter 6. South Korea Self-Driving Car Market Overview

Chapter 7. Rest of APAC Self-Driving Car Market Overview

Chapter 8. Competitive Landscape

Chapter 9. Conclusion

For more information about this report visit https://www.researchandmarkets.com/research/sj6v22/asiapacific?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20181214005128/en/

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Related Topics:Cars

KEYWORD: ASIA PACIFIC

INDUSTRY KEYWORD: AUTOMOTIVE OTHER AUTOMOTIVE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 12/14/2018 05:15 AM/DISC: 12/14/2018 05:15 AM

http://www.businesswire.com/news/home/20181214005128/en

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