Since the onset of the COVID-19 pandemic, supply chain disruptions and restrictions on transportation have hampered the autonomous vehicle market. However, a steady transition from vehicle ownership to mobility-as-a-service (MaaS), growth in connected infrastructure, improved safety, and reduction in traffic congestion have bolstered the growth of the global autonomous vehicle market.
Despite the Ukraine-Russia war, which has resulted in bottlenecks in wire-harness supplies and worsened the shortage of semiconductor chips, the autonomous vehicle market is expected to grow with rising demand for self-driving cars and rapid adoption of advanced driver assistance systems (ADAS). According to Allied Market Research, the global autonomous market is estimated to reach $2.2 trillion by 2030, growing at a 40.1% CAGR..
