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What is the market scenario for Autonomous vehicles in Eastern Europe?

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In the autonomous vehicle market, Eastern Europe is an emerging player with considerable interest from automakers, technology companies, and the government in the region.

Russia, Poland, and the Czech Republic are some of the expected countries to be the key market player in Eastern Europe.

One of the significant drivers for the adoption of autonomous vehicles in the region is the growing demand for advanced mobility solutions, particularly in urban areas. The rising urbanization and traffic congestion created a need for efficient and sustainable transportation options, and autonomous vehicles provide a solution to these challenges.

The governments moreover are actively supporting the development and deployment of autonomous vehicles. For example, in 2020, the Russian government passed a law allowing the testing of autonomous vehicles on public roads. Similarly, Poland is interested in investing in the development of autonomous vehicle technology and infrastructure.

Many automakers and technology companies are partnering with local companies in Eastern Europe to develop and deploy autonomous vehicles. In 2019, Daimler AG signed a memorandum of understanding with the Moscow Government to deploy autonomous vehicles in the city.

In 2020, Hyundai Motor Group announced a partnership with Yandex for the joint development of autonomous vehicle technology. According to a report by ResearchAndMarkets, the Eastern European autonomous vehicle market is expected to grow a CAGR of around 40% during the forecast period of 2021-2026.

However, the adoption of autonomous vehicles in Eastern Europe is still going through a lot of challenges with the need for significant investments in infrastructure and technology, regulatory hurdles, and public perception and technology acceptance.

Source: ResearchAndMarkets

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