Which countries are conquering the AV’s component market?

Well, AV or the driverless vehicle is no doubt a cool phenomenon happening in the automobile industry which is not just revolutionizing the industry but also changing the thinking and visionary patterns of the people and what human mind can do to evolve in such industries But, However, a single industry of automobile or auto vehicles cannot survive by its own, they need support in form of Tier1, Tier2 or Tier3. So, is the AV’s component industry or the auxiliary suppliers playing a major role to thrive in the automobile industry or automobile market.

As per a survey by BIS Research, Strategy&,PwC and Bertrandt, the following countries in 2018 has been recorded to be holding million US dollars market. In 2018, the size of market for vision and navigation system components in North America is 4,920 million US dollars, Europe is 3,360 million US dollars and Asia-Pacific is 3,030 US million dollars.

The market size for vehicle-centric connected services in China is expected to be 39.5 billion US dollars, United States is 19.6 billion US dollars and European Union is 16.7 billion US dollars in 2030. The way the market is shaping and reshaping the industries, a huge value of growth and profit can be seen via the connected services market.

In my opinion, with advanced technology and the improvement in the new way of thinking and idealizing and making it a realistic revenue generation market will definitely create new scope for encouraging new talents and heights.

Source:- Statista.

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