Self-driving or autonomous vehicle (AV) technology may improve road safety and reduce traffic accidents -- the vast majority of which are caused by human error -- as well as provide mobility for the elderly or disabled population around the globe. ADAS (Advanced Driver Assistance Systems) are the core elements of AVs and their adoption in production automobiles is increasing rapidly, partly as a result of stringent safety specifications. Autonomous Vehicle Market Development According to the latest worldwide market study by Juniper Research, the annual production of self-driving cars will reach 14.5 million in 2025 -- that's up from only a few thousands in 2020 -- to give a global installed base of more than 22 million consumer vehicles by 2025. The study found that the market adoption of AV technology is likely to accelerate over the next few years, propelled by new regulatory requirements, environmental pressures, and rapid technological developments. The market anal...
TMT Market Research and Analysis