The Business Research Company’s Connected And Autonomous Mobility Vehicles Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 29, 2024 /EINPresswire.com/ -- The global connected and autonomous mobility vehicles market is anticipated to grow significantly, expanding from $133.03 billion in 2023 to $197.56 billion in 2024, reflecting a remarkable compound annual growth rate (CAGR) of 48.5%. This growth trajectory, despite challenges, is expected to continue, with the market projected to reach $824.41 billion by 2028 at a CAGR of 42.9%, driven by advancements in technology, regulatory developments, and a shift towards sustainable transport solutions.

Increasing Need for Sustainable Transport Drives Market Expansion
The demand for sustainable transport is a key driver behind the growth of the connected and autonomous mobility vehicles market. Sustainable transport solutions aim to reduce environmental impact by optimizing energy use and minimizing emissions. Connected and autonomous vehicles (CAMVs) contribute to this goal by enhancing traffic flow, reducing congestion, and improving air quality. According to the International Institute for Sustainable Development, transport is a major contributor to global oil consumption and CO2 emissions, underscoring the importance of sustainable transportation innovations.

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Major Players and Innovations in the Market
Key players such as Microsoft Corporation, General Motors (GM), and Mercedes-Benz Group AG are leading the charge with innovative solutions in the connected and autonomous mobility vehicles market. Companies are increasingly focusing on third-generation autonomous driving systems to maintain a competitive edge. For example, May Mobility launched its third-generation autonomous driving system in March 2023, featuring advanced sensors and enhanced communication systems to improve safety and performance.

Trends Shaping the Future of the Market
Several trends are influencing the connected and autonomous mobility vehicles market:
• Consumer Acceptance and Adoption: Growing consumer trust in autonomous technology is accelerating market growth.
• Urban Mobility Solutions: Integration of CAMVs into urban mobility frameworks is enhancing city transportation.
• Advancements in Sensor Technologies: Improved sensors are enhancing vehicle perception and safety.
• Regulatory Support and Standards: Continued development of regulations is supporting market expansion.
• Rise in On-Demand Mobility Services: The growth of ride-sharing and on-demand services is driving market demand.
• Development of V2X Communication: Vehicle-to-everything (V2X) communication is improving vehicle connectivity and efficiency.

Connected And Autonomous Mobility Vehicles Market Segments
• Level of Automation: Level 1, Level 2, Level 3, Level 4, Level 5
• Propulsion Type: Semi-Autonomous, Fully Autonomous
• Vehicle Type: Passenger Car, Commercial Vehicle
• Application: Civil, Defense, Transportation and Logistics, Construction

Regional Insights: North America Leading the Market
North America was the largest region in the connected and autonomous mobility vehicles market in 2023. Looking ahead, the region is expected to continue its leadership, driven by technological advancements and supportive regulatory environments.

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Connected And Autonomous Mobility Vehicles Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Connected And Autonomous Mobility Vehicles Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on connected and autonomous mobility vehicles market size, connected and autonomous mobility vehicles market drivers and trends, connected and autonomous mobility vehicles market major players, competitors' revenues, market positioning, and market growth across geographies. The connected and autonomous mobility vehicles market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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