China Autonomous Vehicles Market, Size, Forecast 2022-2027
China Autonomous Vehicles Market is projected to reach US$ 98.89 Billion by 2030. Self-driving cars could lead China's automotive industry into the passing lane. From automated cargo trucks to driverless taxis (AVs), autonomous vehicles will change the nature of on-road driving and, in the process, revolutionize the mobility and automotive industries. The autonomous vehicle is also known as a self-driving or driverless car that can sense and read the environment and operate with minimal human input. Self-driving cars have become the primary revolution in automation and connectivity technology. Computers, smart phones, the internet, and advanced technologies merge with vehicles to assist and automate driving operations.
China Driverless Cars Market Size was US$ 1.53 Billion in 2021
Notwithstanding, China is the world's second-largest market for autonomous driving technology. Therefore, it offers massive opportunities for domestic manufacturers and global firms alike. Autonomous driving in China will gain further momentum as driverless shuttles have become publicly available, and China is potentially taking the lead in the global autonomous vehicle market.
Furthermore, one of the significant drivers behind China's accelerating transformation towards self-driving technology is its favorable policy. Beijing follows an active approach to boost autonomous driving in China: Permitting extensive AV testing on highways and the goal to integrate partial self-driving technology in 50% of all new-auto sales by 2025 undermine China's ambitions to adopt large-scale, self-driving technology. Further, the Chinese government is expected to introduce official regulations on autonomous vehicles by 2023.
