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In 2021, the worldwide market for driverless vehicles was estimated to be worth $1.50 billion. The market is expected to increase at a CAGR of 42.97% from USD 1.63 billion in 2022 to USD 19.96 billion by 2030. Demand for autonomous vehicles is lower than expected across all regions due to the unprecedented and overwhelming global COVID-19 outbreak. Our research shows that the market for autonomous vehicles worldwide will contract by -20.29% between 2019 and 2020. An autonomous vehicle is a car that operates without a human driver. No or little intervention from a human is needed for it to function. The advent of driverless or self-driving cars has ushered in a new era of automation and communication. In-car automation and help from cutting-edge gadgets like computers, smartphones, and the internet are on the rise.
Key players have been encouraged to increase their production capabilities and advance the state of the art in vehicle automation by the rapid development of sensor-processing technologies, adaptive algorithms, high-definition mapping, and the deployment of infrastructure-to-vehicle and vehicle-to-vehicle communication technologies.
Report Coverage
Global Autonomous Cars research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Autonomous Cars report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Autonomous Cars competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Autonomous Cars market players and analyses their core competencies in each global market sub-segments.
EFFECTIVE CAUSES
The need for driverless cars has been growing as the frequency of traffic accidents caused by human mistake or inadequate car safety features continues to rise. In this scenario, high-tech safety features like automatic parking, blind spot monitoring, and adaptive cruise control come in handy in autonomous vehicles. One person loses their life every 45 minutes due to a drunk driving accident, according to data from the U.S. Department of Transportation (DOT). This amounts to roughly 32 deaths each day. The National Highway Traffic Safety Administration of the United States Department of Transportation reported that about 38,824 people died in traffic accidents in the United States in 2020. The World Health Organisation reports that between 2005 and 2015, there were 1.25 million deaths among people aged 5 to 29 due to traffic accidents. Modern LiDAR, radar, cameras, sensors, and other cutting-edge technologies for secure driverless operation give self-driving vehicles a number of benefits over conventional vehicles. As a result, it is expected that rising demand and development of autonomous vehicles will enhance market growth throughout the projection period.
CAUSES OF RESTRICTIONS
More than 40 sensors, including LiDAR, RADAR, and cameras, contribute to an autonomous vehicle's smooth operation. These sensors come at a high price and their performance is dependent on the hardware and software in use. This adds even more to the overall price of the setup. For example, the price of automotive LiDAR can reach up to $60,000, which is more than the average car costs. Therefore, because to the high cost of components, substantial financial investments are required for the manufacturing and widespread use of autonomous vehicles. Level 4 and 5 autonomous cars are not readily available for research and development because of their high price and complexity.
The use of level-4 autonomous vehicles is not only capital demanding but also subject to regulatory compliance, and the design and development of software that is used in autonomous vehicles are highly challenging. The amount of sensor data needed to be processed by a fully autonomous vehicle is roughly one hundred times larger than that required of the most technologically advanced vehicles now on the market. Multiple Deep Neural Networks (DNNs) running in parallel as part of the software stack contribute to the ever-increasing complexity of the software used in autonomous cars. As a result, the development of autonomous vehicles is prohibitively expensive and complicated.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Autonomous Cars market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Autonomous Cars market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
• Lyft, Inc.
• WAYMO
• Aptiv
• Tesla
• Cruise LLC
• Uber Technologies
• Baidu
• Didi Chuxing
• Zoo
• AutoX Inc.
• Nuro Inc.
• Volkswagen AG
• Lumotive LLC
• Pony.ai
• Robert Bosch GmbH
• Autoliv
• Mercedes Benz AG
• BYD Company Ltd.
• Ford Motor Company
• Volvo
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Autonomous Cars market based on the below-mentioned segments:
Global Autonomous Cars Market, By Type
Global Autonomous Cars market, By Vehicle Type
Global Autonomous Cars market, Regional Analysis
Key players have been encouraged to increase their production capabilities and advance the state of the art in vehicle automation by the rapid development of sensor-processing technologies, adaptive algorithms, high-definition mapping, and the deployment of infrastructure-to-vehicle and vehicle-to-vehicle communication technologies.
Report Coverage
Global Autonomous Cars research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Autonomous Cars report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Autonomous Cars competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Autonomous Cars market players and analyses their core competencies in each global market sub-segments.
EFFECTIVE CAUSES
The need for driverless cars has been growing as the frequency of traffic accidents caused by human mistake or inadequate car safety features continues to rise. In this scenario, high-tech safety features like automatic parking, blind spot monitoring, and adaptive cruise control come in handy in autonomous vehicles. One person loses their life every 45 minutes due to a drunk driving accident, according to data from the U.S. Department of Transportation (DOT). This amounts to roughly 32 deaths each day. The National Highway Traffic Safety Administration of the United States Department of Transportation reported that about 38,824 people died in traffic accidents in the United States in 2020. The World Health Organisation reports that between 2005 and 2015, there were 1.25 million deaths among people aged 5 to 29 due to traffic accidents. Modern LiDAR, radar, cameras, sensors, and other cutting-edge technologies for secure driverless operation give self-driving vehicles a number of benefits over conventional vehicles. As a result, it is expected that rising demand and development of autonomous vehicles will enhance market growth throughout the projection period.
CAUSES OF RESTRICTIONS
More than 40 sensors, including LiDAR, RADAR, and cameras, contribute to an autonomous vehicle's smooth operation. These sensors come at a high price and their performance is dependent on the hardware and software in use. This adds even more to the overall price of the setup. For example, the price of automotive LiDAR can reach up to $60,000, which is more than the average car costs. Therefore, because to the high cost of components, substantial financial investments are required for the manufacturing and widespread use of autonomous vehicles. Level 4 and 5 autonomous cars are not readily available for research and development because of their high price and complexity.
The use of level-4 autonomous vehicles is not only capital demanding but also subject to regulatory compliance, and the design and development of software that is used in autonomous vehicles are highly challenging. The amount of sensor data needed to be processed by a fully autonomous vehicle is roughly one hundred times larger than that required of the most technologically advanced vehicles now on the market. Multiple Deep Neural Networks (DNNs) running in parallel as part of the software stack contribute to the ever-increasing complexity of the software used in autonomous cars. As a result, the development of autonomous vehicles is prohibitively expensive and complicated.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Lyft, Inc., WAYMO, Aptiv, Tesla, Cruise LLC, Uber Technologies, Baidu, Didi Chuxing, Zoo, AutoX Inc., Nuro Inc., Volkswagen AG, Lumotive LLC, Pony.ai, Robert Bosch GmbH, Autoliv, Mercedes Benz AG, BYD Company Ltd., Ford Motor Company, Volvo |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Autonomous Cars Market from 2021 to 2030.
- Market Forecast for Autonomous Cars Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Autonomous Cars competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Autonomous Cars
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Autonomous Cars market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Autonomous Cars market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
• Lyft, Inc.
• WAYMO
• Aptiv
• Tesla
• Cruise LLC
• Uber Technologies
• Baidu
• Didi Chuxing
• Zoo
• AutoX Inc.
• Nuro Inc.
• Volkswagen AG
• Lumotive LLC
• Pony.ai
• Robert Bosch GmbH
• Autoliv
• Mercedes Benz AG
• BYD Company Ltd.
• Ford Motor Company
• Volvo
Primary Target Market
- Market Players of Autonomous Cars
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Autonomous Cars market based on the below-mentioned segments:
Global Autonomous Cars Market, By Type
- Fully Autonomous
- Semi-autonomous
Global Autonomous Cars market, By Vehicle Type
- Passenger Cars
- Commercial Vehicles
Global Autonomous Cars market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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