United States Autonomous Vehicles Research Report 2024: A $78.63 Billion Market by 2030 Driven by Advancements in Linked Car Technology

DUBLIN, March 11, 2024 /PRNewswire/ -- The "United States Autonomous Vehicles Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to  ResearchAndMarkets.com's offering.

The United States Autonomous Vehicle Market size is expected to reach US$ 78.63 Billion by 2030 US$ 22.52 Billion in 2023, growing at a CAGR of 19.56% during 2023-2030

3.5 million self-driving vehicles on United States roads by 2025 and 4.5 million by 2030, according to The Insurance Institute for Highway Safety. The demand for self-driving cars in the United States has increased significantly over the past years. The collaboration between automotive companies across the United States supports the market.

For example, VelodyneLidar revealed Faraday Future had chosen them as the supplier of lidar technology for Faraday's all-electric F.F. 91 vehicle. Velodyne's solid-state Velarray H800 lidar sensors will power the F.F. 91's autonomous driving system to deliver various autonomy features in April 2021. The Velarray H800 represents a solid-state lidar sensor with prolonged-variety beliefs and a wide field of view. It guarantees secure navigation and collision avoidance in ADAS and self-reliant mobility eventualities.

Mexico's new trade contract with the United States and Canada has involved opportunities for the transfer of autonomous technology and a multiplied demand for self-sufficient motors. The United States independent automobile market could be dominated by semi-autonomous vehicles, as the need for ease of riding and the growing situation for safety and protection are surging the demand for high-end technology.

According to the NHTSA (National Highway Traffic Safety Administration), about 94% of the injuries on the United States roadways can be attributed to human errors, like drunken driving and speeding. These can be mitigated with a self-driving vehicle, whose functionality may observe the speed regulations in particular USA states.

Contributing factors to the autonomous vehicle market share increase are the need for secure and efficient driving alternatives, the evolution of linked motor technology, increasing studies and development in the autonomous vehicle segment trends, and government assistance for those cars regarding regulations and rebates. U.S. Regulators will determine on a petition filed through General Motors (G.M.) Cruise self-riding generation unit searching for permission to deploy up to 2,500 self-riding automobiles annually without human controls, a pinnacle automobile protection concern, in July 2023.

The autonomous vehicle market growth is anticipated the rapid digitization of linked cars, which provides to their demand. The essential components of car autonomy - vehicle-to-automobile and automobile-to-infrastructure connectivity - can be more easily integrated into connected automobiles than traditional ones. 

Expect a fast growth in Level 3 self-reliant automobiles with more extensive driver assistance systems, which include collision detection, lane departure warning, and adaptive cruise management

By Level of Driving, the United States Autonomous Vehicles Market is segmented into L1, L2, L3, L4 and L5. In the USA's self-sufficient vehicles panorama, Level 3 autonomous generation is rising as the harbinger of fast growth. L3 level of automation which combines advanced driving assistance systems with partial self-driving competencies, is witnessing substantial traction. It gives a sizeable bounce forward for each protection and convenience, with collision detection, lane-keeping, and adaptive cruise control capabilities. As the automobile industry continues to evolve, L3 technology stands out as a crucial step in the journey towards fully autonomous cars, shaping the future of transportation with its promising advancements.

In the autonomous vehicle segment in the United States, software is experiencing the speediest growth

Within the United States, the autonomous automobile sector is witnessing an unparalleled surge in software development. This increase is driven by software's pivotal role in shaping the upcoming of self-using cars. Advanced algorithms, device learning, and artificial intelligence enable these vehicles to perceive, navigate, and select autonomously. Companies closely invest in software solutions to enhance safety, performance, and consumer experience. As the industry advances, software innovation is at the forefront, contributing substantially to the evolution of autonomous vehicles and their integration into the transportation landscape.

United States self-driving vehicle industry is poised for Lidar hardware and V2X software to dominate in the coming years

Lidar technology is poised to take centre stage in the United States autonomous vehicle market. Its importance lies in its capacity to deliver precise, real-time 3D mapping and object detection, which is critical for safe and efficient self-riding. As this technology advances and becomes increasingly included in self-driving systems, it's predicted to play a pivotal role in enabling vehicles to navigate, perceive, and respond to their surroundings, reshaping the autonomous vehicles panorama.

Meanwhile, V2X (Vehicle-to-Everything) software is experiencing exquisite growth in the ever-evolving autonomous vehicle arena. It facilitates seamless communication among vehicles and surrounding infrastructure, enhancing safety and traffic performance. As the industry focuses on comprehensive connectivity and advanced autonomous abilities, the V2X software program supports data exchange among vehicles, traffic signals, pedestrians, and more, reflecting the industry's commitment to a connected future.

Passenger vehicles maintain the most prominent market proportion in the United States

Passenger automobiles take the lead with a significant market share in the vast expanse of the US autonomous vehicle industry. This dominance results from the growing embrace of autonomous technology in daily commutes and personal transportation. The appeal of improved safety, convenience, and reduced traffic congestion fuels the desire for self-using passenger motors. This prominent position in the market highlights how autonomous technology is profoundly altering regular transportation experiences, paving the way for a future wherein self-riding passenger automobiles are a common sight on roads.

Civil segment is experiencing fast growth in the USA autonomous automobile industry

Within the USA, the civil area is undergoing remarkable growth in the autonomous vehicle industry. This expansion signifies the increasing adoption of autonomous technology in various factors of civil infrastructure and public offerings. This growth is driven by applications like autonomous buses, smart traffic control, and autonomous vehicles for municipal services. Integrating autonomous vehicles within the civil area guarantees more robust transportation performance, decreased congestion, and improved urban planning. It reflects a transformative shift towards more sustainable and technology-driven solutions to address the evolving needs of modern towns and communities.

Internal Combustion Engines dominate the United States autonomous vehicle market

Internal Combustion Engines reign supreme in the United States autonomous vehicle market. ICE automobiles hold a significant presence regardless of the growing adoption of electric and hybrid options. This dominance is attributed to a combination of factors, including the existing infrastructure, well-established automotive manufacturing base, and enormous refuelling station network favouring ICE technology.

Additionally, ICE vehicles often offer a more extended range, making them appealing for specific applications. While electric and alternative powertrains are gaining momentum, ICE automobiles remain a key participant in the evolving landscape of autonomous transportation in the United States.

Company Analysis: Overview, Recent Developments, Revenue

• Alphabet Inc.
• Amazon.com, Inc.
• Apple Inc.
• Aptiv
• Baidu, Inc.
• BayerischeMotorenWerke AG (BMW)
• Mercedes-Benz Group AG
• DidiChuxing Technology Co.
• Ford Motor Company
• General Motors

Level of Driving - Market breakup from 5 viewpoints:

• L1
• L2
• L3
• L4
• L5

Hardware - Market breakup from 13 viewpoints:

• Passive Components
• Embedded Modem
• Ultrasonic Sensors
• Odometry Sensors
• Other Electronics & Architecture
• Actuators
• HMI Hardware
• Mapping Hardware
• Embedded Controls Hardware
• V2X Hardware
• Cameras
• Radar
• Lidar

Software - Market breakup from 5 viewpoints:

• HMI Software
• Data Security Software
• Mapping Software
• Embedded Controls Software
• V2X Software

Vehicle Type - Market breakup from 2 viewpoints:

• Passenger Vehicle
• Commercial Vehicle

Application - Market breakup from 4 viewpoints:

• Civil
• Defense
• Transportation & Logistics
• Construction

Propulsion - Market breakup from 5 viewpoints:

• Battery Electric Vehicle
• Fuel Cell Electric Vehicles
• Hybrid Electric Vehicle
• Internal Combustion Engine
• Plug-in Hybrid Electric Vehicle

For more information about this report visit https://www.researchandmarkets.com/r/43lb7m

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets