The latest report by IMARC Group, titled “India Autonomous Vehicle Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the India autonomous vehicle market growth. The  market is expected to exhibit a growth rate (CAGR) of 21.5% during 2023-2028.

Autonomous vehicles, also called self-driving cars or driverless cars, can operate by themselves and perform necessary functions by sensing and analyzing their surroundings with minimal to no human intervention. They are equipped with light detection and ranging (LiDAR), artificial intelligence (AI) software, radio detection and ranging (RADAR), sensor-integrated cameras, etc.

Autonomous vehicles can create active 3D maps that track the motion sequences of 3D structures based on corresponding points in images, as well as assist them in continuously monitoring the surrounding environment and maneuver independently. In line with this, they use connected technology to facilitate infrastructure-to-vehicle and vehicle-to-vehicle communication, which results in effective traffic management. Autonomous vehicles offer several other benefits, including less battery operation costs, enhanced safety features, reduced fuel consumption and emissions, etc.

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India Autonomous Vehicle Market Trends and Drivers:

Continuous technological advancements in the automotive sector are propelling the adoption of the Internet of Things (IoT), machine learning (ML), and artificial intelligence (AI), which is primarily driving the India autonomous vehicle market. Additionally, the growing utilization of smart traffic lights and connected infrastructures in car parks and toll booths to minimize traffic congestion is further catalyzing market growth. Besides this, the launch of numerous favorable policies by government bodies in India for increasing road safety is acting as another significant growth-inducing factor. Moreover, the inflating disposable income levels of individuals and extensive R&D activities are also bolstering market growth across the country. Apart from this, the introduction of advanced features, such as lane departure warning (LDW) and automatic emergency braking (AEB), that augment self-driving capabilities in cars while ensuring low risks of accidents is anticipated to fuel the India autonomous vehicle market over the forecasted period.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Component:

  • Hardware
  • Software and Services

Breakup by Level of Automation:

  • Level 3
  • Level 4
  • Level 5

Breakup by Application:

  • Transportation and Logistics
  • Military and Defense

Breakup by Region:

  • North India
  • West and Central India
  • South India
  • East India

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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