The North America autonomous car market will reach USD 52.3 billion by 2030, powering at a rate of 17.1% by the end of this decade. The increasing requirement for effective and safe driving alternative, snowballing R&D actions for the expansion of autonomous cars, and support from state and the federal governments for the development of autonomous cars are the key factors powering the industry.
Based on vehicle autonomy, the industry is categorized into fully autonomous car and semi-autonomous car.
Semi-autonomous cars held the largest share in the past. Though, fully autonomous cars will grow the fastest in the years to come. The acceptance of level 4 and 5 autonomous cars for sharing services will bring about the growth for these cars.
ICE based autonomous cars dominated in the past with regards to volume. Though, in the years to come, BEVs will grow the fastest, because of the snowballing support from governments as incentives and grants for the acceptance of battery e-cars, and strict emission regulations.
The factors that are boosting the industry are state and federal governments’ supports for the expansion of self-directed cars, necessity for an effective and safe driving options, development in connected and e- car technologies, and snowballing R&D activities.
With the continuous development of the autonomous cars to develop, the central and state governments are also supporting these cars and addressing their probable influence.
Each year, numerous legislations are passed with regards to autonomous vehicles is slowly on the rise. In the year 2018, 15 states in the U.S. passed 18 bills related to autonomous vehicles, and 29 states have laid down legislations regarding autonomous vehicles.
The increasing disposable income of the people od the region and the inclination toward much more safe driving options, has a positive impact on the demand for autonomous vehicles in the whole of the North American region.
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