Latest added Autonomous Vehicle Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2027. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Audi AG, BMW AG, Daimler AG, Ford Motor Company, Honda Motor Co., Ltd., Nissan Motor Company, Tesla, Toyota Motor Corporation, and Volkswagen AG. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
The Autonomous Vehicle Market size is estimated to grow from USD XX Billion in 2020 to USD 856 Billion by 2027, growing at a CAGR of 57.9% during the forecast year from 2021 to 2027.
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The semi-autonomous and autonomous vehicles market, in terms of volume, is projected to grow at a CAGR of 21.36% from 2017 to 2022 and 68.94% from 2025 to 2030 respectively. The market is estimated to be 8.9 Million Units in 2016 for semi-autonomous vehicles and 0.2 Million Units in 2024 for autonomous vehicles. In this study for semi-autonomous vehicles, 2016 has been considered as the base year and 2017–2022 as the forecast period for estimating the market size. However, for autonomous vehicles, 2024 has been considered the base year and 2025–2030 as the forecast period for estimating the market size.
The report analyzes and forecasts the market size, in terms of volume (units), of the global semi-autonomous and autonomous vehicles market. The report segments the market and forecasts its size, by volume, on the basis of level of automation, ADAS features, fuel type, components, and region for semi-autonomous and by component, region, and fuel type for autonomous vehicles market. It provides a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). It strategically profiles key players and comprehensively analyzes their market shares and core competencies. The report also tracks and analyzes competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants.
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The research methodology used in the report involves various secondary sources such as International Organization of Motor Vehicle Manufacturers (OICA), China Association of Automobile Manufacturers (CAAM), and so on. Experts from related industries and suppliers have been interviewed to understand the future trends of the semi-autonomous and autonomous vehicles market. The bottom-up and top-down approaches have been used to estimate and validate the size of the global market. The market size, by volume, is derived by identifying the total production volumes and analyzing the demand trends.
The figure given below illustrates the break-up of the profiles of industry experts who participated in primary discussions.
The ecosystem of the semi-autonomous and autonomous vehicles consists of manufacturers such as Volkswagen (Germany), Daimler (Germany), Nissan Motor (Japan), Robert Bosch (Germany), Continental AG (Germany), Google (US), Cisco Systems (US), Tesla (US), and Visteon (US) and suppliers such as Continental (Germany), Robert Bosch (Germany), Delphi Automotive (UK), Denso (Japan), and Valeo (France).
- Tier 1 manufacturers
- Automotive associations
- Raw material suppliers
- Vehicle manufacturers/OEMs
- Automotive software providers
- Service providers
Scope of the Report
Autonomous Vehicle Market: By Level of Automation –Semi-Autonomous
- Level 1
- Level 2&3
Autonomous Vehicle Market: By ADAS Features
- Semi-Autonomous Vehicle Market
- Adaptive Cruise Control (ACC)
- Lane Assist (LA)
- Intelligent Park Assist (APA)
- Smart Park Assist (SPA)
- Automatic Emergency Braking (AEB)
- Blind Spot Detection (BSD)
- Collision Warning System (CWS)
- Cross Traffic Alert (CTA)
- Traffic Jam Assist (TJA)
- Semi-Autonomous Vehicle Market
Autonomous Vehicle Market: By Components
- Semi-Autonomous & Autonomous
- Artificial Intelligence
- Ultrasonic Sensor
Autonomous Vehicle Market: By Fuel Type
- Conventional Vehicle
- Hybrid Vehicle
- Electric Vehicle
- Hybrid Vehicle
- Electric Vehicle
Autonomous Vehicle Market: By Region
- North America
- Asia Pacific
MarketDigits offers the following customizations for this market report:
- Detailed analysis and profiling of additional regions (up to 3)
- Detailed analysis and profiling of additional market players (up to 3)
The semi-autonomous and autonomous vehicles market has been segmented on the basis of level of automation (under semi-autonomous- level 1 and level 2&3). The level 2&3 segment of the semi-autonomous vehicles market is expected to show the fastest growth. Its adoption rate is currently low but later it will be having more penetration as compared to level 1 due to increasing technological advancements.
The semi-autonomous vehicle market has been segmented, by ADAS feature, into Adaptive Cruise Control, Lane Change Assist, Intelligent Park Assist, Cross Traffic Alert, Traffic Jam Assist and Others. Automatic Emergency Braking and Intelligent Park Assist segments will be having the fastest CAGR due to government mandates regarding implementation of AEB. In the US, the automatic emergency braking systems are expected to be standard in vehicles by 2022 according to NHTSA (National Highway Traffic Highway Safety Association).
By component, the market has been segmented into Artificial Intelligence, radar, LIDAR, ultrasonic, and camera. The market for artificial intelligence is expected to be the largest for autonomous vehicles as it will be the brain of the autonomous vehicle. Its contribution will be highest as compared with other segments, whereas radar segment is expected to dominate the semi-autonomous vehicles market.
By fuel type (conventional vehicle, hybrid vehicle, electric vehicle) and region (Asia pacific, Europe, North America and ROW). In terms of fuel type, the electric vehicle (EV) semi-autonomous and autonomous market is projected to grow at the highest CAGR during the forecast period, as these are anticipated to will propel the overall growth of semi-autonomous and autonomous vehicles market.
The North America region is estimated to dominate the semi-autonomous vehicles market, in terms of volume, in 2017, followed by Europe and Asia Pacific as it comprises some of the technologically advanced countries in the world, including the US and Canada. Semi-autonomous vehicles volumes have increases in recent years, with OEMs catering not only to the domestic demand but also to the overseas demand. Moreover, in 2025 the region is likely to lead the autonomous vehicles market in terms of volume followed by Europe and Asia Pacific, as key technology innovators such as Google, Microsoft, and Delphi automotive are significantly investing in and testing the technology to commercialize the same.
The lack of infrastructure to support autonomous cars in developing nations, concerns regarding cyber security and safety of the personal data of the users, and consumers’ hesitation to accept fully autonomous cars are some of the restraints that might hinder the growth of autonomous and semi-autonomous vehicles. Semi-autonomous vehicles market is currently in its initial phase and is being dominated by players such as Robert Bosch (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive (UK), and Infineon Technologies (Germany).
A comprehensive analysis of the market structure along with the forecast of the various segments and sub-segments of the market have been delivered through this Autonomous Vehicle market report. The market research and analysis performed in this business report assists clients to forecast investment in an emerging market, expansion of market share or success of a new product. The market is greatly transforming because of the moves of the key players & brands including developments, product launches, joint ventures, mergers & acquisitions that in turn changes the view of the global face of industry.
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