Global Big Data Conference

The buzz around autonomous vehicles is continuing to snowball as global tech majors are upping their game to take advantage of the burgeoning prospects. Per an Allied Market Research report, the global autonomous vehicle market is expected to reach $556.67 billion by 2026 at a CAGR of 39.47% from 2019 to 2026. The long-term prospects are much more alluring. Per a McKinsey research autonomous vehicles are expected to contribute about 66% of the passenger-kilometers traveled in 2040, generating $1.1 trillion in mobility services revenues and $0.9 trillion in sales that year. The United States is leveraging its first mover advantage in the autonomous vehicle market.