North America is anticipated to dominate the market with over 40 pct of the volume share in 2017.he region is further anticipated to witness a considerable growth over the next seven years.
Europe is a key region for the deployment of self-driving vehicles, owing to the high consumer preference for technologically advanced products and is estimated to hold more than 35 pct of the volume share in 2017.
"This is attributed to the presence of players such as Volvo, Volkswagen, PSA Peugeot Citroën, and Fiat Chrysler Automobiles in Germany and Britain," the report added.
Asia Pacific is expected to witness a sluggish growth as compared to North America and Europe. However, it is anticipated to grow substantially in the later phase of the forecast period due to the growing adoption of technologically advanced cars in China.
In addition, the Japanese government has specifically laid down a plan for the successful self-driving vehicle deployment and is expected to catapult the product demand over the forecast period.
The Singaporean government has also proposed to build separate roads for driverless automobiles to accelerate the adoption.
"An upsurge in the demand for increased comfort and convenience, particularly in countries with an aging population, is expected to propel the driverless vehicles demand over the forecast period," the study added.
Honda To Hike Car Prices By Up To 3 Pct From January
Official Vehicles Head of States Use to Travel