Global Autonomous Vehicle Market

Global Autonomous Vehicle Market

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akash

Author:

Akash Vedpathak

Amulya

Fact-checked by:

Amulya Agarwal

Shreyas

Editor:

Shreyas Tandon

The global autonomous vehicle market is projected to expand at a high CAGR during the forecast period, between 2021 and 2028. The autonomous vehicle, often known as a driverless car, can perceive and read its function and surroundings with little or no human intervention.  Autonomous vehicles, commonly known as self-driving automobiles, employ light detection, artificial intelligence (AI) software, and RADAR, and ranging (LiDAR) sensing technology to monitor a 60-meter radius around the vehicle and create an active 3D model of the present environment. Self-driving automobiles have ushered in a new era of automation and networking technologies. Computers, cell phones, the internet, and advanced technologies are integrating with automobiles to help and automate driving operations.

Global Autonomous Vehicle Market summary

Market Trends, Drivers, Restraints, and Opportunities:

  • Growing auto-tech investments and rising R&D operations for the development of self-driving automobiles are expected to drive market.
  • Increasing concern for security and safety, as well as the necessity for comfort in driving, leads to high demand for autonomous vehicles.
  • The widespread implementation of the ADAS platform, and supportive government measures, fuel the market.
  • High expense of autonomous vehicles, as well as the growing threat from cyber-attacks in driving operations, is expected to hinder the market expansion.
  • Lack of infrastructural development in developing nations is expected to hamper the market growth.
  • Advances in numerous in-vehicle innovative technologies, combined with a large demand for autonomous vehicles, are likely to offer lucrative opportunities for autonomous vehicles.

Scope of the report:

The report on autonomous vehicle market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Autonomous Vehicle Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Types (Autonomous [Conventional Vehicles, Electric Vehicles, and Hybrid Vehicles], and Semi-autonomous [Conventional Vehicles, Electric Vehicles, and Hybrid Vehicles]), Vehicle Types (Commercial Vehicles and Passenger Cars), Level of Automation (Level 5, Level 4, and Level 3), Components (Service, Software, and Hardware), Applications (Civil, Ride hail, Ride share, Robo Taxi, Self-driving Bus, and Self-driving Truck)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

AB Volvo; Volkswagen AG; Toyota Motor Corporation; General Motors Company; Mitsubishi Motors Corporation; Ford Motor Company; Nissan Motor Co., Ltd; Daimler AG; Renault SA; BMW; Telefonaktiebolaget LM Ericsson; Robert Bosch GmbH; Autoliv, Inc.; Waymo LLC; and Tesla, Inc.

Autonomous Vehicle Market Segment Insights:

The semi-autonomous segment is projected to hold significant market share

Based on types, the autonomous vehicle market can be bifurcated into autonomous and semi-autonomous. The autonomous segment can be further categorized into conventional vehicles, electric vehicles, and hybrid vehicles. The semi-autonomous segment can be classified into conventional vehicles, electric vehicles, and hybrid vehicles. The semi-autonomous segment is projected to hold significant market share. ADAS functions in semi-autonomous automobiles include adaptive cruise control and intelligent park assist, among others.

Global Autonomous Vehicle Market types

The passenger cars segment is anticipated to account for a substantial share

On the basis of vehicle types, the market can be divided into commercial vehicles and passenger cars. The passenger cars segment is anticipated to account for a substantial share, due to the increasing urbanization, rising living standards, rapid demographic expansion, and increased purchasing power. Furthermore, organizations and governments from various countries are investing heavily in the development of technologically enhanced vehicles.

The software segment is estimated to grow at a high rate during the forecast period

In terms of components, the autonomous vehicle market can be fragmented into service, software, and hardware. The software segment is estimated to expand at a high rate during the forecast period, owing to increasing digitization around the world. Advances in numerous in-vehicle innovative technologies are estimated to offer lucrative opportunities for autonomous vehicles.

The level 4 segment expands at a robust pace in the coming years

In terms of level of automation, the market can be segmented into level 5, level 4, and level 3. The level 4 segment is projected to expand at a robust pace in the coming years, due to increased R&D activities in the self-driving technology arena. Automobile manufacturers have increased their R&D spending in order to step up their attempts to develop level-4 autonomous cars. For the mass production of autonomous vehicles, these companies are partnering with semiconductor equipment providers and technological players.

The robo taxi segment is anticipated to register a substantial growth rate in the coming years

Based on applications, the autonomous vehicle market can be segregated into civil, ride hail, ride share, Robo taxi, self-driving bus, and self-driving truck. Robo taxi segment is anticipated to register a substantial growth rate in the coming years. The sheer need for taxis, fuelled by urbanization and rising disposable income, is growing demand for the autonomous vehicle market.

Global Autonomous Vehicle Market application

Asia Pacific is expected to dominate the market

In terms of regions, the market can be classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market, due to growing popularity of these vehicles and consumer preferences for technologically superior features. Automobile manufacturers intend to increase production units and achieve quick technological improvement in manufacturing facilities in rising markets like India and China. The market is being driven by the growing efforts of Chinese manufacturers to develop self-driving technologies. Chinese tech giants are significantly investing in self-driving vehicle technology. Furthermore, the Chinese government is trying hard to establish a competitive advantage in self-driving vehicle technology.

Global Autonomous Vehicle Market region

Segments

By Types

  • Autonomous
    • Conventional Vehicles
    • Electric Vehicles
    • Hybrid Vehicles
  • Semi-autonomous
    • Conventional Vehicles
    • Electric Vehicles
    • Hybrid Vehicles

By Vehicle Types

  • Commercial Vehicles
  • Passenger Cars

By Level of Automation

  • Level 5
  • Level 4
  • Level 3

By Components

  • Service
  • Software
  • Hardware

By Applications

  • Civil
  • Ride Hail
  • Ride Share
  • Robo Taxi
  • Self-driving Bus
  • Self-driving Truck

By Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

By Key Players

  • AB Volvo
  • Volkswagen AG
  • Toyota Motor Corporation
  • General Motors Company
  • Mitsubishi Motors Corporation
  • Ford Motor Company
  • Nissan Motor Co., Ltd
  • Daimler AG
  • Renault SA
  • BMW
  • Telefonaktiebolaget LM Ericsson
  • Robert Bosch GmbH
  • Autoliv, Inc.
  • Waymo LLC
  • Tesla, Inc

Competitive Landscape

Key players in the autonomous vehicle market include AB Volvo; Volkswagen AG; Toyota Motor Corporation; General Motors Company; Mitsubishi Motors Corporation; Ford Motor Company; Nissan Motor Co., Ltd; Daimler AG; Renault SA; BMW; Telefonaktiebolaget LM Ericsson; Robert Bosch GmbH; Autoliv, Inc.; Waymo LLC; and Tesla, Inc. These players are widely engaged in various market development activities including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.

Global Autonomous Vehicle Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Autonomous Vehicle Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Autonomous Vehicle Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Autonomous Vehicle Market - Supply Chain
  4.5. Global Autonomous Vehicle Market Forecast
     4.5.1. Autonomous Vehicle Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Autonomous Vehicle Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Autonomous Vehicle Market Absolute $ Opportunity
5. Global Autonomous Vehicle Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Autonomous Vehicle Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Autonomous Vehicle Demand Share Forecast, 2019-2026
6. North America Autonomous Vehicle Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Autonomous Vehicle Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Autonomous Vehicle Demand Share Forecast, 2019-2026
7. Latin America Autonomous Vehicle Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Autonomous Vehicle Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Autonomous Vehicle Demand Share Forecast, 2019-2026
8. Europe Autonomous Vehicle Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Autonomous Vehicle Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Autonomous Vehicle Demand Share Forecast, 2019-2026
9. Asia Pacific Autonomous Vehicle Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Autonomous Vehicle Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Autonomous Vehicle Demand Share Forecast, 2019-2026
10. Middle East & Africa Autonomous Vehicle Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Autonomous Vehicle Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Autonomous Vehicle Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Autonomous Vehicle Market: Market Share Analysis
  11.2. Autonomous Vehicle Distributors and Customers
  11.3. Autonomous Vehicle Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. AB Volvo
     11.4.2. Volkswagen AG
     11.4.3. Toyota Motor Corporation
     11.4.4. General Motors Company
     11.4.5. Mitsubishi Motors Corporation
     11.4.6. Ford Motor Company
     11.4.7. Nissan Motor Co., Ltd
     11.4.8.

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