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GLOBAL AUTONOMOUS VEHICLE MARKET FORECAST 2022-2030

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GLOBAL AUTONOMOUS VEHICLE MARKET FORECAST 2022-2030

In terms of revenue, the global autonomous vehicle market was valued at $xx billion in 2021 and is expected to reach $xx billion by 2030, growing with a CAGR of xx% during the forecast period. The market study has also analyzed the impact of COVID-19 on the global autonomous vehicle market qualitatively as well as quantitatively. The autonomous vehicle market includes passenger cars that are partially or completely made autonomous.

GLOBAL AUTONOMOUS VEHICLE MARKET FORECAST 2022-2030

Global Autonomous Vehicle Market by Type (Semi-autonomous Vehicles, Fully-autonomous Vehicles) by Geography

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In terms of revenue, the global autonomous vehicle market was valued at $xx billion in 2021 and is expected to reach $xx billion by 2030, growing with a CAGR of xx% during the forecast period. The market study has also analyzed the impact of COVID-19 on the global autonomous vehicle market qualitatively as well as quantitatively. The autonomous vehicle market includes passenger cars that are partially or completely made autonomous.

Autonomous Vehicle Market

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The upcoming report will cover level 1 to level 5 autonomous vehicles. However, LCV (light commercial vehicles), MCV (medium commercial vehicles), HCV (heavy-duty commercial vehicles), buses, and others, will not be covered in the report.

Key growth enablers driving the global autonomous vehicle market:

  • Increased demand for safety and passenger comfort
    • According to the data from the World Health Organization (WHO), around 1.3 million people die because of road crashes every year.
    • Moreover, human error is responsible for up to 96% of all auto accidents, as per a 2016 research by the National Highway Transportation Safety Administration (NHTSA).
    • In this regard, a semi-autonomous or completely autonomous vehicle can potentially be used to reduce accidents that occur due to human error.
    • As a result, companies are researching autonomous technologies that can not only reduce accidents but also increase the driver’s comfort.
  • Advancements in automation technologies
  • Rise in demand for luxury vehicles

Key factors restraining market growth:

  • Lack of proper road infrastructure
  • Initial hesitance of consumers to adopt autonomous vehicles
  • Risk of cyber attacks
    • Autonomous vehicles use numerous advanced systems running on electronics, sensors, information technology (IT) systems, etc.
    • In order to guarantee that the systems perform as intended and are constructed to minimize safety hazards, they require proper cyber security.
    • However, cyber security is emerging as one of the greatest concerns of the market, with shifting trends trend toward driverless cars and vehicles featuring millions of lines of code.
    • Besides, with the rise in sophisticated cyber-attacks globally, this concern is a major factor challenging the autonomous vehicle market’s growth.

Global Autonomous Vehicle Market | Top Trends

  • Adoption of blockchain technology may have various advantages for autonomous vehicle technology,
  • Smart city projects will help create better infrastructure for the global autonomous vehicle market.
  • Growth opportunities in connected car technologies are set to provide the market with lucrative prospects.
  • The increased growth in 5G infrastructure across countries fuels the global autonomous vehicle market.

Market Segmentation – By Type –

Market by Type:

  • Semi-Autonomous Vehicle
    • The semi-autonomous vehicle segment currently dominates the type category.
    • However, fully-autonomous vehicles are still in the nascent stage with multiple challenges ahead.
    • Companies are increasingly incorporating advanced autonomous systems in their vehicles to remain ahead of the competition.
    • Moreover, drivers’ comfort and increased safety are crucial aspects in terms of the purchasing decisions of vehicle buyers.
    • Thus, the demand for semi-autonomous vehicles is expected to rise during the forecast period.
  • Fully-Autonomous Vehicle

Geographical Study Based on Four Major Regions:

  • North America: The United States and Canada
    • The United States is the dominating country in the North America autonomous vehicle market.
    • With a highly developed road infrastructure, the nation has a well-established presence of major automotive giants such as General Motors, Ford Motor Company, Tesla, etc.
    • Numerous partnerships and collaborations are undertaken by companies in the region’s autonomous vehicle market.
  • Europe: The United Kingdom, Germany, France, Netherlands, Sweden, and Rest of Europe
  • Asia-Pacific: China, Japan, India, South Korea, Singapore, Australia & New Zealand, and Rest of Asia-Pacific
  • Rest of World: Latin America, the Middle East & Africa

Major players in the global autonomous vehicle market are:

  • Volkswagen AG
  • Toyota Motor Company
  • General Motor Company
  • Daimler AG
  • Tesla Inc
  • Uber Technologies Inc
  • Waymo LLC (Google Inc)
  • Nuro

Key strategies adopted by some of these companies:

  • In April 2022, Baidu & Pony.ai received permission from the Chinese government for the first robotaxi services in the country. The project is currently limited to Yizhuang, China.
  • Cyngn released DriveMod Kit, a fully-equipped autonomous vehicle hardware integration module, in April 2022. The DriveMod Kit was created to make retrofitting existing industrial vehicles or integrating newly built vehicles easier.
  • In April 2022, Qualcomm acquired Veoneer’s advanced driver assistance/self-driving vehicle software arm.

Report Synopsis

Report Scope Details
Market Forecast Years 2022-2030
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue (Million)
Segments Analyzed Type
Geographies Analyzed North America, Europe, Asia-Pacific, and Rest of World
Companies Analyzed

Aurora Innovation Inc, Ford, Nissan Motor Co Ltd, Daimler AG, General Motors Company, Toyota Motor Corp, Volkswagen AG, Waymo LLC (Google Inc), BMW AG, Tesla Inc, Volvo Vehicle Group, Nuro, BYD Co Ltd, Uber Technologies Inc

  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • PARENT MARKET ANALYSIS: PASSENGER VEHICLE MARKET
    • KEY DRIVERS
      • INCREASED DEMAND FOR SAFETY & PASSENGER COMFORT
      • ADVANCEMENTS IN AUTOMATION TECHNOLOGIES
      • RISE IN DEMAND FOR LUXURY VEHICLES
    • KEY RESTRAINTS
      • LACK OF PROPER ROAD INFRASTRUCTURE
      • INITIAL HESITANCE OF CONSUMERS TO ADOPT AUTONOMOUS VEHICLES
      • RISK OF CYBER ATTACKS
  1. KEY ANALYTICS
    • IMPACT OF COVID-19 ON AUTONOMOUS VEHICLE MARKET
    • KEY MARKET TRENDS
    • PORTER’S FIVE FORCES ANALYSIS
      • BUYERS POWER
      • SUPPLIERS POWER
      • SUBSTITUTION
      • NEW ENTRANTS
      • INDUSTRY RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  2. MARKET BY TYPE
    • SEMI-AUTONOMOUS VEHICLES
    • FULLY-AUTONOMOUS VEHICLES
  3. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    • EUROPE
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • NETHERLANDS
        • SWEDEN
        • REST OF EUROPE
    • ASIA-PACIFIC
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • SINGAPORE
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA-PACIFIC
    • REST OF WORLD
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA
  1. COMPETITIVE LANDSCAPE
    • KEY STRATEGIC DEVELOPMENTS
      • MERGERS & ACQUISITIONS
      • PRODUCT LAUNCHES & DEVELOPMENTS
      • PARTNERSHIPS & AGREEMENTS
      • BUSINESS EXPANSIONS & DIVESTITURES
    • COMPANY PROFILES
      • AURORA INNOVATION INC
      • BMW AG
      • BYD CO LTD
      • DAIMLER AG
      • FORD
      • GENERAL MOTORS COMPANY
      • NISSAN MOTOR CO LTD
      • NURO
      • TESLA INC
      • TOYOTA MOTOR CORP
      • UBER TECHNOLOGIES INC
      • VOLKSWAGEN AG
      • VOLVO VEHICLE GROUP
      • WAYMO LLC (GOOGLE INC)

LIST OF TABLES  

TABLE 1: MARKET SNAPSHOT – AUTONOMOUS VEHICLE

TABLE 2: GLOBAL AUTONOMOUS VEHICLE MARKET, BY TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 3: GLOBAL AUTONOMOUS VEHICLE MARKET, BY TYPE, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 4: GLOBAL SEMI-AUTONOMOUS VEHICLES MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 5: GLOBAL SEMI-AUTONOMOUS VEHICLES MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 6: GLOBAL FULLY-AUTONOMOUS VEHICLES MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 7: GLOBAL FULLY-AUTONOMOUS VEHICLES MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 8: GLOBAL AUTONOMOUS VEHICLE MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 9: GLOBAL AUTONOMOUS VEHICLE MARKET, BY GEOGRAPHY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 10: NORTH AMERICA AUTONOMOUS VEHICLE MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 11: NORTH AMERICA AUTONOMOUS VEHICLE MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 12: EUROPE AUTONOMOUS VEHICLE MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 13: EUROPE AUTONOMOUS VEHICLE MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 14: ASIA-PACIFIC AUTONOMOUS VEHICLE MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 15: ASIA-PACIFIC AUTONOMOUS VEHICLE MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 16: REST OF WORLD AUTONOMOUS VEHICLE MARKET, BY REGION, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

TABLE 17: REST OF WORLD AUTONOMOUS VEHICLE MARKET, BY REGION, FORECAST YEARS, 2022-2030 (IN $ MILLION)

TABLE 18: LIST OF MERGERS & ACQUISITIONS

TABLE 19: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 20: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 21: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: GLOBAL AUTONOMOUS VEHICLE MARKET, GROWTH POTENTIAL, BY TYPE, IN 2021

FIGURE 6: GLOBAL AUTONOMOUS VEHICLE MARKET, BY SEMI-AUTONOMOUS VEHICLES, 2022-2030 (IN $ MILLION)

FIGURE 7: GLOBAL AUTONOMOUS VEHICLE MARKET, BY FULLY-AUTONOMOUS VEHICLES, 2022-2030 (IN $ MILLION)

FIGURE 8: NORTH AMERICA AUTONOMOUS VEHICLE MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

FIGURE 9: UNITED STATES AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 10: CANADA AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 11: EUROPE AUTONOMOUS VEHICLE MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

FIGURE 12: UNITED KINGDOM AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 13: GERMANY AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 14: FRANCE AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 15: NETHERLANDS AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 16: SWEDEN AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 17: REST OF EUROPE AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 18: ASIA-PACIFIC AUTONOMOUS VEHICLE MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

FIGURE 19: CHINA AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 20: JAPAN AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 21: INDIA AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 22: SOUTH KOREA AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 23: SINGAPORE AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 24: AUSTRALIA & NEW ZEALAND AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 25: REST OF ASIA-PACIFIC AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 26: REST OF WORLD AUTONOMOUS VEHICLE MARKET, REGIONAL OUTLOOK, 2021 & 2030 (IN %)

FIGURE 27: LATIN AMERICA AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

FIGURE 28: MIDDLE EAST & AFRICA AUTONOMOUS VEHICLE MARKET, 2022-2030 (IN $ MILLION)

  1. MARKET BY TYPE
    • SEMI-AUTONOMOUS VEHICLES
    • FULLY-AUTONOMOUS VEHICLES
  2. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    • EUROPE
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • NETHERLANDS
        • SWEDEN
        • REST OF EUROPE
    • ASIA-PACIFIC
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • SINGAPORE
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA-PACIFIC
    • REST OF WORLD
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA

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