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Europe Autonomous Cars Market to Grow at a CAGR of 28.4% during Forecast Period | BlueWeave Consulting

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New Delhi, June 21, 2022 (GLOBE NEWSWIRE) — Europe Autonomous Cars Market is growing at a high CAGR owing to the urbanization and rising government support for vehicle safety, increasing adoption of Advanced Driver Assistance Systems (ADAS) in autonomous cars along with the investments in digital infrastructure…

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Europe Autonomous Cars Market is projected to grow at a CAGR of 28.4% by the end of 2028. The Europe Autonomous Cars Market is booming because of the rising disposable income of consumers and changing living standards. Also, the increasing preferences of consumers for luxury, high-quality, and comfort of self-drive cars to decline the burden of driving. Moreover, autonomous cars help to reduce the number of crashes on roads and decrease the chances of accidents which fuels their demand in the region. Furthermore, Europe Autonomous Cars Market is one of the most emerging markets that grow continuously owing to the fast integration of new technologies like the Internet of Things (IoT), Artificial Intelligence (AI), cloud computing, and others. However, the additional cost is associated with connectivity solution charges, telecommunication services, and hardware systems as well as high purchasing prices which may act as a huge restraining factor for the market growth.

Rising Urbanization and Technological Advancements Drive the Market Growth

The rising purchasing power of consumers, urbanization, and technological advancements act as major driving factors for the growth of the Europe Autonomous Cars Market. The escalation in demand for self-drive cars in European countries is due to their benefits such as the comfort to rest, reading, and working while traveling to make life easier. This acts as the key factor to attract consumers of all ages. Moreover, the increasing technological advancements and diversity in the automotive industry that introduced various autonomous cars is driving the market. Autonomous cars are a breakthrough technology after electric and hybrid cars. All these factors reinforce the Europe Autonomous Cars Market during the forecast period (2022-2028).


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Growing Adoption of ADAS is Fueling the Market Growth

The rapid adoption of level 0 to level 2 Advanced Driver Assistance Systems (ADAS) in Europe is bolstering the growth of the Europe Autonomous Cars Market. The features of ADAS include braking assist, blind spot indication, lane-keeping assist, adaptive parking assist, and cruise control. The steady adoption of advanced technologies in software algorithms, sensors, processors, cameras, and mapping has improved the applicability of ADAS in cars. Moreover, ADAS systems improve vehicle safety by incorporating key driving assistance functions such as controlling speed and traction control. ADAS uses sensors in the vehicle to perceive the surrounding environment, and then either provide information to the driver or take automatic action based on what it perceives.

Challenge: Vulnerability to Hacking and Other Cyber Attacks

Smart mobility is becoming increasingly essential, and autonomous cars are a crucial part of smart mobility. Autonomous cars have various features and are comprised of various constituents. These cars rely on connectedness to work. However, vulnerabilities in autonomous cars might damage the quality of life and human safety. This is challenging for the growth of the Europe Autonomous Cars Market during the forecast period (2022-2028).

Please Visit Press Release of the Europe Autonomous Cars Market: https://www.blueweaveconsulting.com/press-release/europe-autonomous-cars-market-to-grow-at-a-cagr-of-28-4-during-forecast-period

Europe Autonomous Cars Market – By Application

Based on the application, the Europe Autonomous Cars Market is segmented into Personal and Commercial. The commercial segment dominates the market due to the deployment of fully autonomous vehicles in sharing services. Also, the introduction of robotaxis for ride-hailing purposes fuels the market growth. The growing availability of shared autonomous cars in the region is changing the car ownership scenario. Many people in the coming years are expected to use the sharing services frequently, thereby, boosting the adoption of autonomous cars in commercial applications. All these factors boost the Europe Autonomous Cars Market during the forecast period (2022-2028).

Regional Analysis

Geographically, the Europe Autonomous Cars Market is categorized into Germany, U.K., France, Italy, Spain, and the Rest of Europe. Germany accounts to hold the largest market share owing to the various manufacturers are introducing new car models for public purchase as well as for commercial purposes. These cars are equipped with advanced driver-assistance systems (ADAS) features, such as blind-spot detection, smart park assist, and an anti-lock braking system, making them an attractive option for consumers. Moreover, the availability of autonomous car infrastructure fuels market growth.

Impact of COVID-19 on Europe Autonomous Cars Market

The unprecedented COVID-19 pandemic negatively impacted the Europe Autonomous Cars Market. Initially, the market faced a huge decline due to a halt in the production and manufacturing of automobiles. As a result, many producers were forced to shut down their operations. Thus, both demand and supply in the Europe Autonomous Market declined significantly, negatively impacting the market growth in a short period. However, the market is expected to recover post the COVID-19 pandemic owing to the European government regulation on driving safety. This aids to fuel the demand for self-driving cars, resulting in propelling the growth of the Europe Autonomous Cars Market.

Competitive Landscape

The leading market players in the Europe Autonomous Cars Market are Tesla Inc., Daimler AG, Volkswagen Group, PSA Group, Renault Group, BMW Group, General Motors Company, Fiat Chrysler Automobiles N.V., Ford Motor Company, Toyota Motor Corporation, and others. The market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Don’t miss the business opportunity in the Europe Autonomous Cars Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Europe Autonomous Cars Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Europe Autonomous Cars Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Recent Development

  • In June 2020, Mercedes-Benz and NVIDIA entered into a partnership to create a revolutionary in-vehicle computing system and AI computing infrastructure. This will be rolled out across the fleet of next-generation Mercedes-Benz vehicles, enabling them with upgradable automated driving functions. Working together, the companies plan to develop the most sophisticated and advanced computing architecture.

Scope of the Report

Attributes Details
Years Considered Historical data – 2018-2021
Base Year – 2021
Forecast – 2022 – 2028
Facts Covered Revenue in 
Product Service/Segmentation By Vehicle Autonomy, By Vehicle Type, By Application, By Country 
Key Players Tesla Inc., Daimler AG, Volkswagen Group, PSA Group, Renault Group, BMW Group, General Motors Company, Fiat Chrysler Automobiles N.V., Ford Motor Company, Toyota Motor Corporation, and others.

By Vehicle Autonomy

  • Semi-Autonomous Car
  • Level 1
  • Level 2
  • Level 3
  • Fully Autonomous Car
  • Level 4
  • Level 5

By Vehicle Type

  • Internal Combustion Engine (ICE)
  • Hybrid Electric Vehicle (HEV)
  • Battery Electric Vehicle (BEV)

By Application

  • Personal
  • Commercial

By Country

  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe

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About Us 

BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.

Contact Us:

BlueWeave Consulting & Research Pvt. Ltd

+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662

[email protected]

https://www.blueweaveconsulting.com/

https://www.linkedin.com/company/blueweaveconsulting/

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

First Comprehensive Report on Public Web Data Released by Bright Data

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Reveals necessity in every industry
NEW YORK, April 23, 2024 /PRNewswire/ — Released today, The State of Public Web Data Report 2024, details a comprehensive analysis on how organizations leverage public web data to drive innovation, enhance customer experience, and develop AI models.

Bright Data commissioned an independent third-party to carry out the first survey of this kind which details the emergence of public web data as the most valued data type. Nearly every organization surveyed uses and benefits from public web data through quicker decision-making, boosting revenue, and meeting customer needs.
The need for public web data in AI is clear in all industries, with more than half of respondents using public web data to build AI models for customer service or to meet internal needs such as fraud detection and risk assessment.
Although necessary to build AI machines, 72% of respondents are worried that public web data will no longer be accessible in the next 5 years. The lack of a legal framework to protect this data emerged as a top concern.
Other key insights from the report:
89% of respondents recognize public web data is crucial or very important to the global economy.82% of respondents say public web data is critical to the future of their organization.79% of respondents agree that large organizations and or big tech hide too much of their public web data.88% of respondents believe public web data is critical for the development of AI models.”Our findings reveal a clear consensus among industry leaders: leveraging public web data is key to unlocking growth and fostering innovation,” said Or Lenchner, CEO of Bright Data. “Public web data is not a ‘like to have,’ it’s a ‘must have’ to conduct business and maintain a competitive market. We understand from our own experience with 20,000 customers that once a business realizes the potential of public web data they will look to discover new ways to leverage this tool to lead against the competition.”
About Bright Data: Bright Data is the #1 web data platform. Fortune 500 companies, academic institutions, non-profits, and small businesses rely on Bright Data’s solutions to collect public web data in the most efficient, reliable, and flexible way to make faster, more informed business-critical decisions.
Contacts:[email protected]
Logo – https://mma.prnewswire.com/media/2276620/Bright_Data_logo__1044x234_Logo.jpg 

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OSIA becomes an official International Telecoms Union (ITU) standard

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ITU Standardization Sector (ITU-T) Recommendation X.1281 – APIs for interoperability of identity management systems
BRUSSELS, April 23, 2024 /PRNewswire/ — The Secure Identity Alliance (SIA) announced today that its OSIA specification, is recognized as international standard by the International Telecommunication Union’s Telecommunication Standardization Sector (ITU-T). This milestone establishes OSIA as official ITU standard (ITU-T Recommendation) for the global infrastructure of information and communication technologies (ICT).

The specification that is now an ITU-T Recommendation is: ITU-T X.1281 – APIs for interoperability of identity management systems.
ITU-T is the standardization arm of ITU, the United Nations specialized agency for ICT. The Secure Identity Alliance specifications were approved as official ITU-T Recommendations by ITU members including 193 countries and the world’s front-running ICT companies on 1st March 2024. The new ITU-T Recommendation is under the responsibility of ITU’s standardization expert group for security, ITU-T Study Group 17.
“We are very proud that the OSIA specification is recognized as an international standard by ITU-T. This milestone demonstrates the maturity of OSIA and its potential to foster interoperability and promote fairness in the identity management systems market,” said Debora Comparin, Chair of the OSIA Initiative.
Prof. Heung Youl Youm, Chairman of ITU-T Study Group 17, said, “The recognition of the OSIA specification as an official ITU-T Recommendation underscores its critical contribution to the advancement of global ICT infrastructure. We are thrilled about the ongoing collaboration between ITU-T SG17 and the SIA, aimed at developing standards for secure identity management.”
“As Editor of the OSIA standard in the ITU-T Study Group 17 Q10, I am pleased to have contributed to this successful recommendation by the ITU,” said Abbie Barbir, Rapporteur for ITU-T’s working group on ‘Identity management and telebiometrics architecture and mechanisms’ (Q10/17). “The collaboration with the SIA continues on OSIA and other structuring initiatives and standards development.”
Engr Abisoye Coker-Odusote, CEO, National Identity Management Commission (NIMC), Nigeria & Chair of the OSIA Advisory Committee, said, “As the Chair of the OSIA Advisory Committee, comprised exclusively of government representatives, we take great pride in our five years of collaboration guiding the working group in the development of the OSIA specification. OSIA establishes equal marketplace conditions, fosters collaboration, and ensures product compatibility post-mergers and acquisitions. The OSIA standardized interfaces drive innovation, enabling new local market models and reducing fraud within multiple ID systems. Additionally, OSIA addresses integrator/vendor lock-in, allowing governments to maintain control over their identity systems and pursue national development agendas seamlessly.”
“The Secure Identity Alliance has always supported standards and its members have contributed to thousands of standards globally, which are now used in the ICT market. Standards are key to unlock the full power of Identity to enable people, economy and society to thrive,” concluded Didier Trutt, Chairman of the SIA.
X.1281 is at publication stage and can be accessed here: https://www.itu.int/ITU-T/workprog/wp_item.aspx?isn=18778
OSIA v6.1.0. twin specification can be accessed here: https://osia.readthedocs.io/en/v6.1.0/index.html 
OSIA qualification programme can be accessed here: https://globalplatform.org/osia-qualification-program/
For more information on the Secure Identity Alliance and the OSIA Initiative, visit http://www.secureidentityalliance.org and www.osia.io
For more information on ITU-T SG 17 visit https://www.itu.int/en/ITU-T/studygroups/2022-2024/17/Pages/default.aspx.
About the Secure Identity Alliance:
Secure Identity Alliance (SIA) is a global non-profit association that serves as the voice for public and private actors and organizations active in the secure identity ecosystem and adjacent industries. SIA’s mission is to unlock the full power of identity so that people, economy, and society thrive. The association supports the development of the activities of its members across four broad pillars: Identity for Good, Outreach, Open Standards Development and Industry Services and Solutions. www.secureidentityalliance.org
About OSIA:
A digital public good, OSIA is an open standard set of interfaces (APIs) that enables seamless connectivity between building blocks of the identity management ecosystem – independent of technology, solution architecture or vendor.  More information at www.osia.io
Follow the Secure Identity Alliance at on X @secureidentity1 and LinkedIn at https://www.linkedin.com/company/secure-identity-alliance/ 
About ITU-T SG 17
The ITU Telecommunication Standardization Sector (ITU-T) is one of the three Sectors (branches) of the International Telecommunication Union (ITU). It is responsible for coordinating standards for telecommunications and Information Communication Technology such as X.509 for cybersecurity, Y.3172 and Y.3173 for machine learning, and H.264/MPEG-4 AVC for video compression, between its Member States, Private Sector Members, and Academia Members.
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SciBase will present at the Redeye Medtech Event on April 24th

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STOCKHOLM, April 23, 2024 /PRNewswire/ — SciBase Holding AB (“SciBase”) (STO: SCIB), a leading developer of augmented intelligence-based solutions for skin disorders will participate at the Redeye Medtech event.

On April 24 at CET 9.50 CEO Pia Renaudin will present the latest developments in SciBase at Redeye. The presentation is live broadcasted and can be followed at https://www.redeye.se/events/974326/redeye-theme-medtech-2 where the replay and the presentations will be available afterwards.
For additional information, please contact:Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected]
Certified Advisor (CA):Vator SecuritiesTel: +46 8 580 065 99Email: [email protected]
About SciBase:
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/scibase/r/scibase-will-present-at-the-redeye-medtech-event-on-april-24-th-,c3966053
The following files are available for download:
https://mb.cision.com/Main/12371/3966053/2751965.pdf
Redeye presentation
 

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