Global Autonomous Vehicles Market to Reach $325.9 Billion by 2030

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Oct 24, 2022, 07:47 ET

DUBLIN, Oct. 24, 2022 /PRNewswire/ -- The "Global Autonomous Vehicles Market, Size, Forecast 2022-2030, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.

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.
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.

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.

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:

Google
Apple
Mercedes-Benz

Key Topics Covered:

1. Introduction

2. Research & Methodology

3. Executive Summary

4. Market Dynamics

5. Global Autonomous Vehicles Market

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