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Key drivers of Connected, Autonomous, Shared, and Electric (CASE) Market
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- Implementation of stringent environmental policies and government regulations to control climate change across the globe has led to restrictions on the usage of traditional IC engines. Electrical vehicles are emission-free, have high torque ratings, and provide alternatives for IC engines. These are shaping the future of the automotive industry.
- Autonomous vehicles are likely to be independent of drivers owing to the presence of secure and advanced safety features, high economical ratings, and high accuracy in navigation. For instance, companies such as BMW, Volvo, and Nissan are conducting trials for driverless vehicles in Germany and are planning to sell such vehicles by the end of 2021.
- Increasing number of people are opting to buy state-of-the-art vehicles with advanced features owing to the growth in economy, and rise in disposable income and purchasing power. This is propelling the global autonomous car industry, thereby boosting the CASE market.
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