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In 2023, the market for autonomous vehicles was estimated to be worth $76.19 billion. By 2030, it is expected to have grown to $2,161.88 billion, with a CAGR of 41.1%.
Autonomous vehicles, commonly referred to as self-driving cars, are a significant invention in the automotive sector with significant growth potential. They serve as a catalyst for the technological advancement of autos. During the forecast period, creating supporting regulatory frameworks, government financing, and investments in digital infrastructure are anticipated to have a significant beneficial impact on the market growth.
Due to its capacity to sense its surroundings, an autonomous or driverless vehicle can drive itself and carry out important tasks without the assistance of a human. It basically senses the environment and navigates by creating a dynamic 3D map of that environment using artificial intelligence (AI) software, light detection and ranging (LiDAR), radio detection and ranging (RADAR), and cameras. The majority of self-driving vehicles build and update an internal map of their surroundings using a variety of sensors, including RADAR. There are several degrees of autonomy, from fully autonomous to semi-autonomous that requires driver assistance. From level 0 (totally manual) to level 5 (completely autonomous), the Society of Automotive Engineers (SAE) recognizes 6 levels of driving automation. The U.S. Department of Transportation has adopted these standards. Many automakers, like Ford, Volvo, and Tesla, are currently pushing the boundaries of self-driving technology, and many more recent models have numerous autonomous technologies. Additionally, these vehicles outperform traditional vehicles in terms of safety, fuel efficiency, and traffic congestion & pollutants because they consume less petrol & battery capacity, which reduces pollution. It is advantageous for it to be ecologically friendly because of these things.
The development of adaptive algorithms, sensor processing, high-definition mapping, and improved infrastructure, among other technological advancements, is motivating a number of businesses to increase their manufacturing of autonomous vehicles. The infrastructure for autonomous vehicles is made up of a wide variety of products and technologies available on the market. Non-drivers and persons with certain disabilities can travel independently thanks to autonomous vehicles. Travelers are more productive when they are more comfortable and have the freedom to read, rest, or even work while they are moving. Additionally, it will lower the cost of paid drivers for taxis and commercial vehicles. These vehicles will be widely used in the market due to additional benefits including improved safety with decreased crash risks and enhanced road capacity with decreased expenses.
With the aid of new technologies, a number of major players are aiming to improve the experience of using autonomous vehicles. For instance, the top automaker Volkswagen stated in 2019 that it would partner with Ford to invest in the AI business Argo AI. The cooperation aimed to spread autonomous car technology throughout the US and Europe. Through 2023, the business will invest more than $4 billion in the development and improvement of its autonomous or self-driving services.
Global market expansion is supplemented by elements including increased safety, lessened traffic congestion, expanding linked infrastructure, and the shift from ownership to mobility-as-a-service (MaaS). However, constraints including high manufacturing costs and difficulties with data management impede the global market's expansion. On the other hand, the emergence of smart cities and favorable government policies provide plenty of prospects for market expansion over the projection period.
The amount of automation, component, application, propulsion type, vehicle type, and geography are the several market segments for autonomous vehicles worldwide. Level 1, Level 2, Level 3, Level 4, and Level 5 automation are the different levels of automation. It is categorized into civil, defense, transportation & logistics, and construction, depending on the application. There are two categories: fully autonomous and semi-autonomous, depending on the type of propulsion. It is divided into passenger cars and commercial vehicles according to the type of vehicle. The market is examined in terms of its impact on North America, Europe, Asia-Pacific, and LAMEA.
The COVID-19 situation is causing market uncertainty by hindering business growth, slowing down logistics services, and escalating panic among various client sectors. Governments in several areas issued complete lockdown and temporary industry closures, which resulted in border restrictions that impeded the movement of transportation and logistics services. After the COVID-19 health catastrophe, the outlook for companies around the world has drastically shifted. In addition, the market's players' overall service activities have decreased as a result of the sharp decline in demand for cash usage to reduce the danger of contamination.
Report Coverage
Global Autonomous Vehicles research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Autonomous Vehicles report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Autonomous Vehicles 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 Vehicles market players and analyses their core competencies in each global market sub-segments.
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 Vehicles market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Autonomous Vehicles 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
AB Volvo, BMW AG, Daimler AG, Ford Motor Company, General Motors, Honda Motor Co., Ltd., Nissan Motors Co., Ltd., Tesla, Inc., Toyota Motor Corporation, Volkswagen AG, Audi AG, Google LLC Uber Technologies, Inc.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Autonomous Vehicles market based on the below-mentioned segments:
Global Autonomous Vehicles Market, By Propulsion Type
Semi-autonomous
Fully Autonomous
Global Autonomous Vehicles market, By Application
Civil
Defense
Transportation & Logistics
Construction
Global Autonomous Vehicles Market, By Vehicle Type
Passenger Car
Commercial Vehicle
Global Autonomous Vehicles market, Regional Analysis
Autonomous vehicles, commonly referred to as self-driving cars, are a significant invention in the automotive sector with significant growth potential. They serve as a catalyst for the technological advancement of autos. During the forecast period, creating supporting regulatory frameworks, government financing, and investments in digital infrastructure are anticipated to have a significant beneficial impact on the market growth.
Due to its capacity to sense its surroundings, an autonomous or driverless vehicle can drive itself and carry out important tasks without the assistance of a human. It basically senses the environment and navigates by creating a dynamic 3D map of that environment using artificial intelligence (AI) software, light detection and ranging (LiDAR), radio detection and ranging (RADAR), and cameras. The majority of self-driving vehicles build and update an internal map of their surroundings using a variety of sensors, including RADAR. There are several degrees of autonomy, from fully autonomous to semi-autonomous that requires driver assistance. From level 0 (totally manual) to level 5 (completely autonomous), the Society of Automotive Engineers (SAE) recognizes 6 levels of driving automation. The U.S. Department of Transportation has adopted these standards. Many automakers, like Ford, Volvo, and Tesla, are currently pushing the boundaries of self-driving technology, and many more recent models have numerous autonomous technologies. Additionally, these vehicles outperform traditional vehicles in terms of safety, fuel efficiency, and traffic congestion & pollutants because they consume less petrol & battery capacity, which reduces pollution. It is advantageous for it to be ecologically friendly because of these things.
The development of adaptive algorithms, sensor processing, high-definition mapping, and improved infrastructure, among other technological advancements, is motivating a number of businesses to increase their manufacturing of autonomous vehicles. The infrastructure for autonomous vehicles is made up of a wide variety of products and technologies available on the market. Non-drivers and persons with certain disabilities can travel independently thanks to autonomous vehicles. Travelers are more productive when they are more comfortable and have the freedom to read, rest, or even work while they are moving. Additionally, it will lower the cost of paid drivers for taxis and commercial vehicles. These vehicles will be widely used in the market due to additional benefits including improved safety with decreased crash risks and enhanced road capacity with decreased expenses.
With the aid of new technologies, a number of major players are aiming to improve the experience of using autonomous vehicles. For instance, the top automaker Volkswagen stated in 2019 that it would partner with Ford to invest in the AI business Argo AI. The cooperation aimed to spread autonomous car technology throughout the US and Europe. Through 2023, the business will invest more than $4 billion in the development and improvement of its autonomous or self-driving services.
Global market expansion is supplemented by elements including increased safety, lessened traffic congestion, expanding linked infrastructure, and the shift from ownership to mobility-as-a-service (MaaS). However, constraints including high manufacturing costs and difficulties with data management impede the global market's expansion. On the other hand, the emergence of smart cities and favorable government policies provide plenty of prospects for market expansion over the projection period.
The amount of automation, component, application, propulsion type, vehicle type, and geography are the several market segments for autonomous vehicles worldwide. Level 1, Level 2, Level 3, Level 4, and Level 5 automation are the different levels of automation. It is categorized into civil, defense, transportation & logistics, and construction, depending on the application. There are two categories: fully autonomous and semi-autonomous, depending on the type of propulsion. It is divided into passenger cars and commercial vehicles according to the type of vehicle. The market is examined in terms of its impact on North America, Europe, Asia-Pacific, and LAMEA.
The COVID-19 situation is causing market uncertainty by hindering business growth, slowing down logistics services, and escalating panic among various client sectors. Governments in several areas issued complete lockdown and temporary industry closures, which resulted in border restrictions that impeded the movement of transportation and logistics services. After the COVID-19 health catastrophe, the outlook for companies around the world has drastically shifted. In addition, the market's players' overall service activities have decreased as a result of the sharp decline in demand for cash usage to reduce the danger of contamination.
Report Coverage
Global Autonomous Vehicles research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Autonomous Vehicles report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Autonomous Vehicles 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 Vehicles market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | AB Volvo, BMW AG, Daimler AG, Ford Motor Company, General Motors, Honda Motor Co., Ltd., Nissan Motors Co., Ltd., Tesla, Inc., Toyota Motor Corporation, Volkswagen AG, Audi AG, Google LLC Uber Technologies, Inc. |
| 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 Vehicles Market from 2021 to 2030.
- Market Forecast for Autonomous Vehicles 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 Vehicles competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Autonomous Vehicles
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Autonomous Vehicles market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Autonomous Vehicles 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
AB Volvo, BMW AG, Daimler AG, Ford Motor Company, General Motors, Honda Motor Co., Ltd., Nissan Motors Co., Ltd., Tesla, Inc., Toyota Motor Corporation, Volkswagen AG, Audi AG, Google LLC Uber Technologies, Inc.
Primary Target Market
- Market Players of Autonomous Vehicles
- 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. INFINITIVE DATA EXPERT has segmented the global Autonomous Vehicles market based on the below-mentioned segments:
Global Autonomous Vehicles Market, By Propulsion Type
Semi-autonomous
Fully Autonomous
Global Autonomous Vehicles market, By Application
Civil
Defense
Transportation & Logistics
Construction
Global Autonomous Vehicles Market, By Vehicle Type
Passenger Car
Commercial Vehicle
Global Autonomous Vehicles 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
About This Research
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