Demand for Autonomous Cars in North America to Rise because of R&D Activities

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Owing to these factors, the North American fully autonomous cars market is projected to generate a revenue of $52.3 billion by 2030, advancing at a 17.1% CAGR during the forecast period (2023–2030), according to a study conducted by P&S Intelligence.

As the incidence of road accidents are growing, the need for safer travelling option is rising as well all across the globe, including North America. Governments of countries in the region are focused upon introducing efficient mobility options for increasing the safety quotient on roads. Most of the time, a road accident occurs because of negligence on the part of the driver. If the person driving the vehicle isn’t attentive enough, is drinking and driving, or is using mobile phone or some other object while driving, the situation may become severe.

Ascribed to this, the research and development activities in North America are becoming more and more inclined towards developing autonomous cars. Since these cars are self-driving, they can facilitate enhanced driving experience and make roads safer for both the passengers and pedestrians. Governments are also taking initiatives for ensure that the deployment and further development of autonomous vehicles is steady and quick. Moreover, the advanced technological scenario is countries such as the U.S. is driving the adoption of these vehicles in the region.

These vehicles have already been introduced in the market, which is why, their adoption is increasing in the region. Semi-automatic cars are further of three types, on the basis of autonomy level, namely level 1, 2, and 3. The adoption of level 1 semi-automatic cars has been the highest up till now. Apart from this, it is expected that the demand for fully autonomous cars will also increase in the coming years, which can be ascribed to technological advancements.

The demand for autonomous vehicles in North America is projected to rise for both commercial and personal applications in the coming years. While personal application is leading presently, these vehicles are also projected to be used widely for commercial applications in the near future. The expansion of the sharing services domain is majorly responsible for the increasing demand for autonomous vehicles in North America. The rising availability of shared autonomous cars in North America is expected to change the car ownership scenario.

Geographically, the U.S. dominated the North American autonomous car market in the past. This is because of the presence of a strong consumer base and high number of original equipment manufacturers (OEM) in the country. OEMs are launching newer car models with enhanced level of automation, which is predicted to result in the growth of the market in the country. 15 states in the country enacted 18 autonomous vehicles related bills in 2018.

Hence, the market is growing due to the rising road accidents and increasing research development activities in North America.

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