Increasing Sales of Autonomous Vehicles Is Catalysing the Growth of the Global Autonomous Vehicle Processor Market

The global autonomous vehicle processor market is anticipated to grow exponentially as autonomous vehicles are supposed to eliminate the risk of crashes and accidents. Moreover, rise in implementation of advanced technology and increasing government initiative to adopt autonomous vehicles as public transport aids to the significant growth of the market. Further, the entrance of tech manufacturers into the autonomous processor sector and autonomous vehicle platooning is expected to provide lucrative opportunities for the significant growth of the market. However, scarcity of advanced infrastructure in developing countries to support the autonomous vehicle market and high risk of hackers is the biggest challenge that could hamper the growth of the autonomous vehicle processor market.

The outbreak of the coronavirus pandemic has negatively impacted the global autonomous vehicle processor market due to lockdown imposition and government policies to temporarily shut down the manufacturing units leading to disturb the supply chain and production capacity. However, post outbreak of COVID-19, there is rise in inclination towards usage of online platforms leading to increase the sales of the autonomous vehicle. Also, as the market resumes, the global autonomous vehicle processor market is going witness positive growth steadily in the forthcoming timeline.

On the basis of region, North America is anticipated to be the fastest growing region in the global autonomous vehicle processor market during the forecasted period owing to rising government initiatives to adopt autonomous vehicles on the public road. Further, Europe is the second fastest growing region due to changing consumer preference to adopt technologically advanced and high-performance products.

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The key players with a considerable market share in the Global Automotive Vehicle Processor market are NXP Semiconductors N.V., Intel Corporation, Tesla, Inc., BASF SE, NVIDIA Corporation, Texas Instruments Incorporated, KALRAY Corporation, Renesas Electronic Corporation, Qualcomm Technologies, Inc, Xilinx, Inc., Hailo Technologies Ltd, Ambarella, Inc., AImotive, Others, are few of the leading players in the Global Automotive Vehicle Processor Market.

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