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The automotive industry has constantly been evolving to align with technological trends and meet the demands of society. With a promise to reduce accidents by eliminating human error and increase traffic efficiency, autonomous vehicles are leading the way for a new great revolution in the industry.
According to a report by MarketsandMarkets, the autonomous cars market was valued at $20.3 million in 2021 and is expected to reach $62.4 million by 2030, at a CAGR of 13.3 percent during the forecast period 2021-2030.
What fuels this growth is a spate of technologies capable of delivering best-in-class solutions in the realm of autonomous vehicles.
AI-based object detection algorithms are taking autonomous vehicle use cases to the next level by helping vehicles monitor the surroundings and accurately determine pedestrians, traffic signs, and other obstacles. Autonomous vehicles can make accurate decisions such as route optimization and path planning using convolutional neural networks.
Advanced driver assistance system (ADAS) is gaining immense traction as a reliable solution that comprehends the environment around the vehicle and provides this information to the driver or takes autonomous action when necessary. IoT sensors play a pivotal role in preventing accidents as it allows real-time data acquisition and analysis to provide autonomous cars with relevant insights to make timely decisions based on traffic.
This edition of Auto Tech Outlook highlights the key developments in the space and how autonomous vehicle solution providers are leveraging them to create a positive impact on the road. We have curated thought leadership articles from industry experts, including the Vice President and General Manager, Honeywell Mobile Refrigerants and Chief Technical Officer, Curtiss-Wright Defense Solutions.
We also took a deep dive into the market trends to narrow down the list of companies delivering robust autonomous vehicle solutions. Equipped with innovative technological capabilities, companies such as Epilog AI and Middlesex County help transform businesses at the cloverleaf of various disruptive technologies.
We hope this edition of Auto Tech Outlook on autonomous vehicle solution providers will help you build the partnership you and your organization need to foster an environment driven by efficient technology.
