Autonomous Vehicles Market Overview:

Autonomous Vehicles Market Size was valued at USD 54 billion in 2023 and is expected to reach USD 265.01 billion by 2031 and grow at a CAGR of 22% over the forecast period 2024-2031.

An autonomous or driverless car can operate and perform critical activities without the need for human interaction. It primarily senses the environment and navigates by generating a dynamic 3D map of that environment using artificial intelligence (AI) software, light detection and ranging (LiDAR), radio detection and ranging (RADAR), and cameras. Most self-driving systems use a variety of sensors, including RADAR, to construct and maintain an internal map of their environment. Semi-autonomous, which requires driver assistance, to fully autonomous is the various levels of autonomy.

Autonomous Vehicles Market Revenue Anlsysis

Get More Information on Autonomous Vehicles Market - Request Sample Report

With the rise in road accidents owing to human error while driving, autonomous vehicles will have profitable chances over the projection period, as autonomous vehicles are safer than humanly driven vehicles. Autonomous vehicles will also help the environment by cutting CO2 emissions. The adoption of autonomous vehicles will boost income in a variety of industries, including IT, technology, and electronics. Autonomous vehicles can be employed in a variety of settings, including industrial fleets, construction, public transportation, and agricultural applications.



  • Increase in safety and traffic congestion reduction.

  • Expansion of interconnected infrastructure.

  • The shift from ownership to mobility-as-a-service (MaaS) contributes to global market growth.


  • Significant manufacturing expenses.

  • Data management issues are limiting global market expansion.


  • The development of smart cities and supportive government laws will provide sufficient potential for market expansion.

  • Decrease of carbon dioxide emissions from autonomous vehicles, as well as the elimination of accidents caused by human error.

  • Low battery capacity and gas use by autonomous vehicles, as well as increasing automobile market penetration


  • The volume of data collected by autonomous vehicles necessitates a lot of computer power.

  • Autonomous vehicle neural networks must be trained on representative datasets.


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.

Market, By Type:

The global market is divided into Semi-Autonomous Vehicles and Fully-Autonomous Vehicles. In terms of autonomous car market share, the semi-autonomous car class held 21.9 percent in 2020. The market for semi-automated and self-driving cars has been segmented based on the level of automation.

Market, By Automation Level:

According to the Automation Level, the global market is divided into Level 1, Level 2, Level 3, Level 4, and Level 5. Over the projected period, the level 3 automation segment is expected to be the fastest-growing. Level 3 automation incorporates environmental monitoring skills, allowing it to make intelligent decisions.

Market, by Application:

Based on the application segment, the global market has been divided into Civil, Defense, Construction, Transportation & Logistics, and freight. The transportation segment, which accounts for almost 91 percent of the market value share in 2020, is expected to increase rapidly over the analysis period. In addition, increased public awareness and government support for shared mobility in the commercial sector have bolstered the trend of autonomous vehicles in the market.


By Type:

  • Semi-Autonomous Vehicles

  • Fully-Autonomous Vehicles

By Automation Level:

  • Level 1

  • Level 2

  • Level 3

  • Level 4

  • Level 5

By Application:

  • Civil

  • Defense

  • Construction

  • Transportation & Logistics

  • Freight

Autonomous Vehicles Market Segment Analysis

Get Customized Report as per your Business Requirement - Request For Customized Report


In 2023, North America dominated the global autonomous vehicle market with the market share of 40%, and this trend is likely to continue during the forecast period. The Asia Pacific market is expected to gain traction over the forecast period, thanks to rising per capita disposable income, rising living standards, altering traffic norms, and higher investments in the automotive sector. The key drivers of regional expansion are prior acceptance of novel technology and vehicle advancement.

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.


  • 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 CorporationHonda Motor Co., Ltd., Toyota Motor Corporation, and Volkswagen AG are some of the affluent competitors with significant market share in the autonomous vehicles market.

Audi AG-Company Financial Analysis

Autonomous Vehicles Market Report Scope:
Report Attributes Details
Market Size in 2023 US$ 54 Billion
Market Size by 2031 US$ 265.01 Billion
CAGR CAGR of 22% From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Type (Semi-Autonomous Vehicles, Fully-Autonomous Vehicles)
• by Automation Level (Level 1, Level 2, Level 3, Level 4, Level 5)
• by Application (Civil, Defense, Construction, Transportation & Logistics, freight)
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 •Increase in safety and traffic congestion reduction.

•Expansion of interconnected infrastructure.
RESTRAINTS •Significant manufacturing expenses.

•Data management issues are limiting global market expansion.

Frequently Asked Questions

The CAGR of the Autonomous Vehicles Market is 22% over the forecast period 2024-2031.

The market value of the Autonomous Vehicles Market is USD 54 billion in 2023.

  • The volume of data collected by autonomous vehicles necessitates a lot of computer power.
  • Autonomous vehicle neural networks must be trained on representative datasets.

The forecast period of Autonomous Vehicles Market is 2024-2031.

North America region dominated the Autonomous Vehicles 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 US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis


6. Porter’s 5 forces model


7.  PEST Analysis


8. Global Autonomous Vehicles Market Segmentation, by Type

8.1 Semi-Autonomous Vehicles

8.2 Fully-Autonomous Vehicles

9. Global Autonomous Vehicles Market Segmentation, by Automation Level

9.1 Level 1

9.2 Level 2

9.3 Level 3

9.4 Level 4

9.5 Level 5

10. Global Autonomous Vehicles Market Segmentation, by Application

10.1 Civil

10.2 Defense

10.3 Construction

10.4 Transportation & Logistics

10.5 freight

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

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.


The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

Start a Conversation

Hi! Click one of our member below to chat on Phone