Global Autonomous Vehicles Market is expected to be US$ 325.9 Billion by 2030. Over the past decade, autonomous vehicle technology has been the best-adapted megatrends, especially in the case of connected and autonomous vehicles (CAVs), which enable communication between vehicles, infrastructure, and other road users, also known as V2X connectivity. Hence, autonomous vehicles are compiled to be a significant trend in the automotive industry which promises to increase road safety and driver comfort. Substantial advancement has been done in the field of autonomous vehicle technology is gaining more and more attention from vehicle manufacturers, technology companies, decision-makers, and the general public.
Looking at the next generation of cars, many motivations for moving to autonomous vehicles exist. Today, autonomous vehicles offer potentially enormous disruption to life, business, and society, whether for personal transport or freight delivery. Hence, possible benefits are theoretically addressable, and initial demonstrations and experiments are encouraging. The major driving factors stimulating the growth of autonomous vehicles globally are reductions in accidents arising from human error, reduced cost & environmental impact of transport, the liberation of time currently committed to driving, and accessibility to a broader range of users.
In our report, we have summarized the market of hardware components and software components by the technology. Recent dynamic changes in vehicle hardware technology include embedded controls, radar, LIDAR, actuators, cameras, embedded modem, passive components, other electronics & architecture, ultrasonic sensors, odometer sensors, mapping hardware, v2x hardware, HMI hardware, e.g., automatic braking, automatic cruise control, intelligent speed assistance, line maintenance assistance systems. These components also bring global consumers closer to increasingly autonomous and independent vehicles, which will use these solutions.
The Covid-19 pandemic outbreak has halted the overall performance of the automotive industry. Global company's strategy to stop development of advancement in technology and further investment plan to protect the cost will hinder the mobility solution say autonomous vehicles and economic slowdown across the globe would steadily hamper the growth of this market. According to the publisher, Worldwide Automotive Vehicles Market Size was US$ 10.1 Billion in 2021. Further, the future of autonomous vehicles is undertaken to canvas the views of a wide range of experts worldwide to create a more precise, informed global perspective on the evolution of automotive over the next decade.
The proficiency of autonomous vehicles to operate without human intervention depends on their level of technological sophistication. Our report covers the autonomous vehicles into Level 3, Level 4, and Level 5. Further, to be precise, Level 3 is conditional automation, Level 4 is high automation, and Level 5 is full automation. Level 3 vehicles will be a turning point for technology testing, opening the gateway to mass-market adoption of an automated technology. Our analysis shows that Level 3 vehicles, also known as conditional driving automation vehicles, hold the dominant market share due to environmental detection capabilities.
America dominated the autonomous vehicles market. The factors like strong and established automotive company clusters and the American region being the home for the world's biggest technology companies like Google, Microsoft, Apple has been a pioneer with regard to autonomous vehicles. Besides, in the United States, autonomous cars are already being tested and used in California, Texas, Arizona, Washington, Michigan. Nevertheless, their mobility is restricted to specific test areas and driving conditions.
Additionally, the market in the Asia Pacific is anticipated to expand rapidly owing to the increasing adoption of these vehicles and the growing customer preferences for technologically advanced features. In addition, automotive companies plan to expand production units and attain rapid technological improvement in manufacturing facilities in emerging countries, India and China. Additionally, the Government of China is vigorously working to gain a competitive advantage in automotive vehicle technology.
The companies contributing to the growth of the global autonomous vehicles industry include Apple, Google, Mercedes-Benz. The market players contribute considerably to market growth by adopting various strategies, including new product launches, mergers and acquisitions, partnerships with the government, and technological advancements to stay competitive. Further, the companies are likely to continue growing during the forecast period, primarily due to increasing support from governments and private sectors to promote autonomous driving vehicle technology across several countries.
This research report titled "Autonomous Vehicles Market Global Forecast by Driverless Car Levels (L3, L4, L5), Hardware (Radar, LIDAR, Actuators, Cameras, Embedded Modem, Passive Components, Embedded Controls Hardware, Other Electronics & Architecture, Ultrasonic Sensors, Odometry Sensors, Mapping Hardware, V2X Hardware, HMI Hardware), Software (V2X Software, Mapping Software, Embedded Controls Software, HMI Software, Data Security Software), Regions (Europe, America, Middle East & Africa, Asia Pacific), Companies (Apple, Google, Mercedes-Benz)"provides a detailed and comprehensive insight of the Global Autonomous Vehicles Industry.
Global Autonomous Vehicles Market is expanding at a CAGR of 47.1% during 2021-2030:
Looking at the next generation of cars, many motivations for moving to autonomous vehicles exist. Today, autonomous vehicles offer potentially enormous disruption to life, business, and society, whether for personal transport or freight delivery. Hence, possible benefits are theoretically addressable, and initial demonstrations and experiments are encouraging. The major driving factors stimulating the growth of autonomous vehicles globally are reductions in accidents arising from human error, reduced cost & environmental impact of transport, the liberation of time currently committed to driving, and accessibility to a broader range of users.
Hardware Components, as well as Software Components, Brings the Global Consumers Closer To Autonomous Vehicles:
In our report, we have summarized the market of hardware components and software components by the technology. Recent dynamic changes in vehicle hardware technology include embedded controls, radar, LIDAR, actuators, cameras, embedded modem, passive components, other electronics & architecture, ultrasonic sensors, odometer sensors, mapping hardware, v2x hardware, HMI hardware, e.g., automatic braking, automatic cruise control, intelligent speed assistance, line maintenance assistance systems. These components also bring global consumers closer to increasingly autonomous and independent vehicles, which will use these solutions.
Impact of COVID-19 on the Global Autonomous Vehicles Industry:
The Covid-19 pandemic outbreak has halted the overall performance of the automotive industry. Global company's strategy to stop development of advancement in technology and further investment plan to protect the cost will hinder the mobility solution say autonomous vehicles and economic slowdown across the globe would steadily hamper the growth of this market. According to the publisher, Worldwide Automotive Vehicles Market Size was US$ 10.1 Billion in 2021. Further, the future of autonomous vehicles is undertaken to canvas the views of a wide range of experts worldwide to create a more precise, informed global perspective on the evolution of automotive over the next decade.
Level 3 Vehicles, Holds The Most Dominant Market Share:
The proficiency of autonomous vehicles to operate without human intervention depends on their level of technological sophistication. Our report covers the autonomous vehicles into Level 3, Level 4, and Level 5. Further, to be precise, Level 3 is conditional automation, Level 4 is high automation, and Level 5 is full automation. Level 3 vehicles will be a turning point for technology testing, opening the gateway to mass-market adoption of an automated technology. Our analysis shows that Level 3 vehicles, also known as conditional driving automation vehicles, hold the dominant market share due to environmental detection capabilities.
American Region Dominates the Autonomous Vehicles Market:
America dominated the autonomous vehicles market. The factors like strong and established automotive company clusters and the American region being the home for the world's biggest technology companies like Google, Microsoft, Apple has been a pioneer with regard to autonomous vehicles. Besides, in the United States, autonomous cars are already being tested and used in California, Texas, Arizona, Washington, Michigan. Nevertheless, their mobility is restricted to specific test areas and driving conditions.
Additionally, the market in the Asia Pacific is anticipated to expand rapidly owing to the increasing adoption of these vehicles and the growing customer preferences for technologically advanced features. In addition, automotive companies plan to expand production units and attain rapid technological improvement in manufacturing facilities in emerging countries, India and China. Additionally, the Government of China is vigorously working to gain a competitive advantage in automotive vehicle technology.
Key Players:
The companies contributing to the growth of the global autonomous vehicles industry include Apple, Google, Mercedes-Benz. The market players contribute considerably to market growth by adopting various strategies, including new product launches, mergers and acquisitions, partnerships with the government, and technological advancements to stay competitive. Further, the companies are likely to continue growing during the forecast period, primarily due to increasing support from governments and private sectors to promote autonomous driving vehicle technology across several countries.
This research report titled "Autonomous Vehicles Market Global Forecast by Driverless Car Levels (L3, L4, L5), Hardware (Radar, LIDAR, Actuators, Cameras, Embedded Modem, Passive Components, Embedded Controls Hardware, Other Electronics & Architecture, Ultrasonic Sensors, Odometry Sensors, Mapping Hardware, V2X Hardware, HMI Hardware), Software (V2X Software, Mapping Software, Embedded Controls Software, HMI Software, Data Security Software), Regions (Europe, America, Middle East & Africa, Asia Pacific), Companies (Apple, Google, Mercedes-Benz)"provides a detailed and comprehensive insight of the Global Autonomous Vehicles Industry.
Autonomous Vehicles Market has been studied from 4 Categories in this Report:
- Market
- Volume
- Regions
- Technology
Numbers - Global Self Driving Car
- Semi-Autonomous Driving
- (Level 3 Cars)
- Self-Driving Car
- Level 4: High Automation
- Level 5: Full Automation
Region - Market & Volume breakup from 3 viewpoints:
- America
- Europe
- Middle East and Africa
- Asia Pacific
Technology - Driverless Cars Technology Market has been divided into two Broad Categories:
- Hardware Components
- Software Components
Hardware Components - Market breakup from 13 viewpoints:
- LIDAR
- Radar
- Cameras
- Actuators
- Embedded Modem
- Embedded Controls Hardware
- Passive Components
- Other Electronics & Architecture
- Odometry Sensors
- Ultrasonic Sensors
- V2X Hardware
- Mapping Hardware
- HMI Hardware
Software Components - Market breakup from 5 viewpoints:
- V2X Software
- Embedded Controls Software
- Mapping Software
- Data Security Software
- HMI Software
All companies have been covered from 2 viewpoints:
- Overview
- Recent Developments
Company Analysis:
- Apple
- Mercedes-Benz
Frequently Asked Questions about the Global Autonomous Vehicles Market
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| Report Attribute | Details |
|---|---|
| No. of Pages | 270 |
| Published | February 2022 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value ( USD | $ 10.1 Billion |
| Forecasted Market Value ( USD | $ 325.9 Billion |
| Compound Annual Growth Rate | 47.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 3 |
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary5. Global Autonomous Vehicles Market
4. Market Dynamics
6. Numbers - Autonomous Vehicles Market
7. Market Share
8. Region - Autonomous Vehicles Market
9. Region - Autonomous Vehicles Market
10. Technology
11. Hardware Components - Market Analysis
12. Software Components - Market Analysis
13. Product Type - China Frozen Food Market
14. Company Analysis
List of Figures
List of Tables
Companies Mentioned
- Apple
- Mercedes–Benz
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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