The Autonomous Cars Market Size was valued at USD 2.46 billion in 2022 and is expected to reach USD 22.75 billion by 2030 and grow at a CAGR of 32% over the forecast period 2023-2030.
An autonomous vehicle is one that can drive itself without the assistance of a human. Depending on the extent of automation, many types of self-driving or autonomous vehicles are developed. Level 0 (completely manual) through Level 4 (totally automated) (fully autonomous). Computer vision functions, as well as actuators and complicated sensors, are used to generate a constantly updated map of their surroundings, detecting the presence of nearby vehicles and pedestrians, detecting uneven surfaces on road sidewalks, and measuring distances.
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Although autonomous vehicles can be linked to external devices like smart traffic lights and highways, many are yet conceptual. Self-driving automobiles are also known as robotic or driverless cars. Although autonomous vehicle technology has progressed, it is still a niche means of transportation with numerous barriers to adoption. Some technology, in particular, are prohibitively expensive to incorporate into a self-driving automobile, making the total cost prohibitively high to make public. Radar and Lidar work for prototypes, however, if mass production is attained, frequency and signals may interfere.
KEY DRIVERS:
Increasing research and development activity for self-driving vehicles
Auto-tech investment is increasing
Government efforts that help
Adoption of the ADAS platform on a large scale
LiDAR technology advancement
RESTRAINTS:
The large first investment may limit expansion
The considerable risk of hackers gaining unauthorized access to system data and vehicle functions could stifle market expansion
OPPORTUNITIES:
These cars are being designed to reduce human-caused accidents, reduce traffic congestion, and provide hassle-free transportation
The rise of ride-sharing will be aided by the development of driverless vehicles
CHALLENGES:
Autonomous vehicles are expensive
Safety and security
Infrastructure deficits in developing nations
The existing autonomous car regulations have a significant gap
The COVID-19 dilemma is causing market uncertainty by reducing logistics services, stifling business growth, and instilling fear in customer segments. Governments in many regions declared absolute lockdown and temporarily shut down industries, resulting in border restrictions that hampered transportation and logistics services movement. Following the COVID-19 health crisis, the global corporate perspective has shifted radically. Furthermore, market operators' overall service activities have decreased as a result of a sharp drop in demand for cash to prevent contamination risks. These variables could have a good impact on the autonomous car market, boosting economic activity across the board.
The market is divided into two types: fully autonomous vehicles and semi-autonomous vehicles. Because it comprises several ADAS components, the semi-autonomous Vehicles sector has a considerable portion of the market. Because of government guidelines about implementing driver assistance systems, automatic emergency braking is the fastest-growing sub-segment in the Autonomous Cars Market.
According to the Autonomy Level, the global market is divided into Level 1, Level 2, Level 3, and Level 4. In the autonomous vehicle sector, Level-1 cars account for more than 90% of the market. The growing concern about automobile safety around the world is driving this market. The government in each region is always working to improve vehicle safety by requiring the adoption of Advanced Driving Assistance Systems (ADAS) in automobiles.
The market is divided into two types of vehicles: passenger cars and commercial vehicles. Because of increased urbanization, strong demographic development, improved living conditions, and increasing purchasing power, the passenger automobile category occupies a major proportion of the market. Commercial vehicles, on the other hand, are the market's fastest-growing category.
By Type:
Semi-Autonomous cars
Fully-Autonomous cars
By Autonomy Level:
Level 1
Level 2
Level 3
Level 4
By Vehicle Type:
Passenger cars
Commercial vehicles
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North America, Europe, Asia Pacific, and the Rest of the World make up the Global Autonomous Cars Market. Because of the growing number of premium autonomous vehicles and safety concerns, the North American region has a significant portion of the industry. Whereas the Asia Pacific is the fastest-growing area in the industry, owing to changing consumer tastes and increased vehicle usage, which is chevalier the market growth of autonomous cars.
Furthermore, the region's rising demand for semi-autonomous vehicles, particularly in the United States and Canada, is likely to boost market growth. Increased investment from technical innovators is also predicted to catapult the region to the forefront of autonomous vehicle adoption, ahead of Europe and the Asia Pacific.
REGIONAL COVERAGE:
North America
The USA
Canada
Mexico
Europe
Germany
The UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Audi AG, Google LLC, Honda Motor Co., Ltd.; Nissan Motor Company; Tesla; Toyota Motor Corporation; Uber Technologies, BMW AG, Daimler AG, Ford Motor Company, General Motors, Nissan Motors Co., Ltd., Tesla, Inc., Robert Bosch GMBH, Aptiv, Continental AG, Denso Corporation, Honda Motor Co., Ltd., Toyota Motor Corporation, and Volkswagen AG are some of the affluent competitors with significant market share in the autonomous cars market.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 2.46 Billion |
|
Market Size by 2030 |
US$ 22.75 Billion |
| CAGR | CAGR of 32% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Type (Semi-Autonomous cars, Fully-Autonomous cars), • by Autonomy Level (Level 1, Level 2, Level 3, Level 4) • by Vehicle Type (Passenger cars, Commercial vehicles) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Audi AG, Google LLC, Honda Motor Co., Ltd.; Nissan Motor Company; Tesla; Toyota Motor Corporation; Uber Technologies, BMW AG, Daimler AG, Ford Motor Company, General Motors, Nissan Motors Co., Ltd., Tesla, Inc., Robert Bosch GMBH, Aptiv, Continental AG, Denso Corporation, Honda Motor Co., Ltd., Toyota Motor Corporation, and Volkswagen AG |
| Key Drivers | •Increasing research and development activity for self-driving vehicles. •Auto-tech investment is increasing. |
| RESTRAINTS | •The large first investment may limit expansion. •The considerable risk of hackers gaining unauthorized access to system data and vehicle functions could stifle market expansion. |
An autonomous car is one that can drive itself without the assistance of a human. Depending on the extent of automation, many types of self-driving or autonomous vehicles are developed.
The Expected value of Autonomous Cars Market USD 22.75 billion in 2030
North America region dominate the Autonomous Cars market
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Autonomous cars Market Segmentation, by Type
8.1 Semi-Autonomous cars
8.2 Fully-Autonomous cars
9. Global Autonomous cars Market Segmentation, by Autonomy Level
9.1 Level 1
9.2 Level 2
9.3 Level 3
9.4 Level 4
10. Global Autonomous cars Market Segmentation, by Vehicle Type
10.1 Passenger cars
10.2 Commercial vehicles
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 the USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 the UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Google LLC,
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Audi AG
12.3 Honda Motor Co., Ltd.
12.4 Nissan Motor Company
12.5 Toyota Motor Corporation
12.6 Uber Technologies
12.7 BMW AG
12.8 Daimler AG
12.9 Ford Motor Company
12.10 General Motors
12.11 Nissan Motors Co., Ltd.
12.12 Tesla, Inc.
12.13 Toyota Motor Corporation
12.14 Volkswagen AG.
12.15 Robert Bosch GMBH
12.16 Aptiv
12.17 Continental AG
12.18 Denso Corporation
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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