CROSBY Research – Industrial: An indispensable component for driverless future

11 Jun 2024

At some point in the near future, autonomous vehicles will become a common sight on the roads. According to Global Market Insights, autonomous vehicle market size was valued at USD2tr in 2023 and is estimated to grow at a CAGR of over 13.5% from 2024 to 2032. The upward trend was mainly propelled by the increase in consumer inclination towards autonomous driving. Government funding and regulatory frameworks are also one of the major factors driving growth in autonomous vehicle market. Governments around the world are investing extensively in autonomous vehicles R&D, establishing testing zones and pilot programs.

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