McKinsey sees country topping world's autonomous car market by 2030

China will become the world's largest market for autonomous cars, with revenue from sales of such new cars and mobility services expected to exceed $500 billion by 2030, according to the latest report from global management consulting firm McKinsey & Company.

According to McKinsey, the market for autonomous vehicle is potentially "very huge" in China if settled. It predicted that by 2030, the total sales volume of autonomous vehicles is expected to hit $230 billion and autonomous vehicle-based services will generate a gross booking of around $260 billion.

The report came as the nation is playing an increasingly crucial role in the passenger vehicle market globally, with its shares in the global market rising from 9 percent in 2007 to 30 percent last year.