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Home » Automotive » Autonomous Car Market Size, Industry Growth | Forecast 2030

Autonomous Car Market By Type (Semi-Autonomous, Fully Autonomous), By Vehicle Type (Commercial Vehicles, Passenger Cars), By Application (Civil, Defense, Transportation & Logistics, Construction), By Component (Camera Unit, LiDAR, Radar Sensor, Ultrasonic Sensor, Infrared Sensor), By Level of Automation (Level 1, Level 2, Level 3, Level 4, Level 5), Global Report by Size, Industry Analysis & Forecast, 2021 - 2030.

Published On: Aug-2022   |   Base Year: 2021   |   No Of Pages: 135   |   Historical Data: 2017 - 2020   |   Formats: PDF   |   Report ID: 64927204

Report DescriptionTable of Contents

Industry Report and Statistics

The global autonomous car market will witness a robust CAGR of 25.7%, valued at $25.14 billion in 2021, expected to appreciate and reach $196.97 billion by 2030, confirms Strategic Market Research. In 2021, North America held a 45.5 percent share of the global market for self-driving cars. A self-driving car—also called as an autonomous or driverless car—is a motor vehicle that integrates sensors, cameras, radar, and artificial intelligence (AI) to navigate locations without a driver. A vehicle which is capable of navigating itself to a predefined destination that has not been preplanned is termed as a fully autonomous car. For example, Google's Waymo is a project for self-driving cars by google. With cutting-edge technology like augmented reality, artificial intelligence, and deep learning, the project will utilize sensors, cameras, and lidar—light detection and ranging—to recognize everything in its immediate surroundings and predict what those objects may do next or what will be their next possible move. The system uses deep learning algorithms; as more driving data is available, and enhances the efficiency of the vehicle.

The Society of Automotive Engineers (SAE) has multiple driving automation levels. Driving Automation according to SAE Levels: Level 0 (Manually Controlled) and Level 1 (Driver Assistance). A level 2 automated vehicle is embedded with driver support technologies (ADAS). The vehicle can steer and increase and decrease speed without the driver's intervention. Level 2 automation falls short of self-driving at this level since a human is still required to be present in the driver's seat and can take control of the car at any time. Level 3 cars can make autonomous decisions, such as overtaking a static object. But in level 3, a person still has to intervene if something goes wrong or the system fails. Level 4 vehicles are advanced vehicles capable of driving without a driver's intervention but are restricted to a certain area. Level 5 automobiles won't have steering wheels or acceleration/braking systems. With the help of level 5, automation vehicles can travel anywhere and carry out tasks that a skilled human driver can. Multiple companies globally are testing for fully autonomous vehicles, but none have been made available yet.

 

Autonomous Car Market Infographic 2030

 

Market Drivers - Government Incentives, ADAS Technology Advancement, and Increase in Connected Infrastructure

  • Once autonomous vehicle technology is made widely available, the global transportation system is expected to change the dynamics of the global transportation market. Several countries have enacted stringent safety laws and encouraged vehicle automation to safeguard the safety of automobiles, passengers, and pedestrians. Automotive manufacturers must follow the guidelines and meet the safety standards established by several organizations, including the New Car Assessment Program, the Institute of Highway Safety Insurance, and the International Automobile Technology Center. The safety requirements include front-end airbags for the driver and the co-driver, seat belt warning system, autonomous emergency braking system, electronic stability control, parking sensors, and more. Comprehensive analysis showed that over 80 organizations are already testing 1,400 autonomous vehicles throughout 36 states of the US and Washington, DC.

 

  • The use of AI-based camera systems for self-driving applications has shown to be advantageous for a better customer experience while assuring the safety of the passengers with the help of advanced technologies. The development of self-driving modular systems that allow OEMs to select the technology is essential for the market's expansion. People are encouraged to choose these alternatives by technological improvements in the automobile industry. The development of dynamic mobility applications and connected car technologies is also a key factor in the market's expansion.

 

  • Automating the automotive sector is now attracting interest from several industries. This leads to the  integration of the Internet of Things (IoT) in the global transportation infrastructure. Businesses like Cisco and IBM have created many digital systems to automate transportation, such as automatic lights, and enhanced disaster management infrastructure and vehicle monitoring. As connected infrastructure develops, there will likely be a greater need for autonomous vehicles. According to the consulting firm KPMG , Netherlands is the country that is most prepared for the new infrastructure. Examples of linked infrastructure include parking lots, toll booths, intelligent roadways, and traffic lights. 

 

Restraint - The Absence of Necessary Infrastructure in Developing Nations

  • Autonomous and self-driving automobiles need several basic infrastructures, including clean, well-maintained roads, lane marking, lane centering, and GPS connectivity. The lack of network connectivity on highways prevents automobiles from accessing cloud data. The growth of I.T. infrastructure on highways is slower in rising nations like Mexico, Brazil, and India than in developed nations. Poor infrastructure outside urban areas & poor driving training or driving discipline restrain and restrict the global autonomous car market growth.

 

Opportunities - Infrastructure Connectivity and Autonomous Shared Mobility Developments

  • Many nations have adopted laws and regulations regarding Infrastructure Connectivity technology due to the spiraling rise in the development of autonomous vehicles. These regulations are intended to cover security, privacy, liability, and safety as they relate to the next generation of automobiles. For instance, the Ministry of Public Security, the Ministry of Industry & Information Technology, and the Ministry of Transport of China have all issued legislations for the management of autonomous vehicles for prior road testing. The primary goal is to integrate the autonomous driving sector into the nation's overall strategy and to restructure the economy favoring toward high-tech industrial model incorporating autonomous vehicles and related technology. The Automated Vehicles Comprehensive Plan was also produced by the U.S. Department of Transportation (USDOT) in collaboration with a large coalition of industry, academic, state, local, safety, advocacy, and transportation stakeholders to promote the secure development, testing, and integration of automated vehicle technology. Due to the favorable government regulations and the updated regulatory environment, the accelerated development of autonomous vehicles has led to the adoption of legislation and regulations in numerous countries relevant to the technology. These rules are meant to address security, privacy, liability, and safety issues related to the most recent models of automobiles.

 

  • Autonomous or self-driving vehicles may function with no human interference. These cars are being created to reduce accidents brought on by human mistakes, ease traffic congestion, and provide hassle-free transportation. The development of driverless cars will fuel the rise of ride-sharing. According to Ohio University's Future of Driving research report, the wait time for a cab will reduce from 5 minutes to just 36 seconds on an average with the deployment of autonomous cabs. The price of a ride would only be USD 0.5 per mile with autonomous vehicle-sharing. For instance, secondary research indicates that Uber costs USD 2/mile for each journey, of which Uber keeps 50 cents, and USD 1.50 belongs to the driver. With the self-driving system's implementation in the automobile sector, uber, ola, and other automotive service companies will register huge profits.

 

Global Autonomous Car Market Share Analysis

 

Market Analysis Of Different Segments Covered in the Report

Based on Type

  • Semi-Autonomous

  • Fully Autonomous

 

Based on Vehicle Type

  • Commercial Vehicles

  • Passenger Cars

 

Based on Application

  • Civil

  • Defense

  • Transportation & Logistics

  • Construction

 

Based on Component

  • Camera Unit

  • LiDAR

  • Radar Sensor

  • Ultrasonic Sensor

  • Infrared Sensor

 

Based on Level of Automation

  • Level 1

  • Level 2

  • Level 3

  • Level 4

  • Level 5

 

Regional Coverage Analysis

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Thailand

  • Rest of Asia Pacific

 

North America

  • US

  • Canada

  • Mexico

 

Europe

  • France

  • Germany

  • Russia

  • Italy

  • Spain

  • Turkey

  • U.K.

  • Rest of Europe

 

Rest of the World

  • Brazil

  • South Africa

  • Others in Rest of the world

 

Type Analysis & Insights

The autonomous car market is divided into semi-autonomous and fully autonomous. The semi-autonomous vehicle market segment dominates the global market. According to a comprehensive study, the markets for self-driving and semi-automatic vehicles have been segmented (at levels 1, 2, and 3, respectively). The semi-autonomous market segment's level 2 and level 3 automation are predicted to increase at the highest rate and fuel the expansion of the market. Although the acceptance rate for level 1 is high, due to the rapid advancement of technology, level 2 and level 3 automation have a much higher market penetration rate than level 1 automation.

 

Vehicle Type Analysis & Insights

The market for self-driving is segmented into passenger and commercial vehicles based on the type of vehicle. The passenger automobile category holds the largest portion of the market. The major drivers of automobile industries are the strong rise in automobile manufacturers globally, including growing urbanization, rapid demographic expansion, higher living standards, and rising purchasing power. Additionally, governments and organizations from different areas spend significant money on creating cutting-edge features for automobile industries. Automated vehicles are gaining significant attraction due to the growing demand for automobiles with improved comfort, convenience, and safety features. 

 

Application Analysis & Insights

The autonomous car market is segmented into two categories- transportation and defense. Although the defense sector is likely to grow the most throughout the forecasted period, the transportation sector is expected to have a dominant market share in the global self-driving vehicle market. Defense Autonomous military vehicles are being designed to perform various missions, including critical reconnaissance missions, proximity, and poor visibility. Even though most of these vehicles would be next-generation models, additional research may make it possible to install autonomous controls over earlier models. For instance, Sikorsky and the Defense Advanced Research Projects Agency are testing autonomous flying software on the S-70 Black Hawk and S-76 commercial helicopters.

 

Region Analysis & Insights

North America is the dominating region in the global self-driving vehicle market due to the region's favorable customer acceptance and strong government cooperation. North America dominated the self-driving cars market with a share of 45.5% in 2021. Due to the introduction of driverless cars in the North American market and the rise in the government spending by different nations to create self-driving cars throughout the projection period, the Asia-Pacific region is predicted to see rapid development. According to a research, the global market for self-driving vehicles is predicted to develop rapidly over the next ten years due to the connected vehicle infrastructure's rapid rise over the projected period in the market. China has 132,844 self-driving car patents, second only to the United States in total patents. By 2023, the British government intends to have self-driving vehicles on the road. It intends to amend the laws as needed to encourage the development of autonomous cars in the United Kingdom.

 

Autonomous Car Market Report Coverage

 Report Attribute

Details

Forecast Period

2021 - 2030

Market size value in 2021

USD 25.14 billion

Revenue forecast in 2030

USD 196.97 billion

Growth rate

CAGR of 25.7 %

The base year for estimation

2021

Historical data

2017 – 2022

Unit

USD Billion, CAGR (2021 - 2030)

Segmentation

By Type, By Vehicle Type, By Application, Based on the Region

By Type

  • Semi-Autonomous

  • Fully Autonomous

By Vehicle Type

  • Commercial Vehicles

  • Passenger Cars

By Application

  • Defense

  • Transportation

Autonomous Vehicle Market, Based on the Region:

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Thailand

    • Rest of Asia Pacific

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • France

    • Germany

    • Russia

    • Italy

    • Spain

    • Turkey

    • U.K.

    • Rest of Europe

  • Rest of the World

    • Brazil

    • South Africa

    • Others in RoW

 

Global Autonomous Car Market Competitive Landscape Analysis

Key Market Players:

 

Autonomous Car Market Regional Forecast

 

Recent Developments:

  • Xiaomi plans to release a self-driving electric car in July 2022 to compete with E.V.s like Tesla and others. A photo of Xiaomi's test vehicle with a lidar sensor fusion on the roof was posted on Weibo by auto writer Deroy. Over the next ten years, the Chinese smartphone manufacturer intends to invest $10 billion in the industry.

 

  • Chinese companies are investing massive funds in cutting-edge technology such as autonomous driving, renewable energy, and artificial intelligence. Baidu and a competing business called Pony.ai received China's first permits to drive taxis without a driver but the company was required to maintain the safety protocol on board in April 2022. According to Wei Dong, vice president of Baidu's Intelligent Driving Group, autonomous driving's primary objective should be to decrease traffic accidents.

 

  • Tokyo, June 10, 2022, The global self-driving car market size was estimated at USD 21 million in 2021. To help drivers and reduce accidents, many safety features have been designed. Governments worldwide have made it compulsory to incorporate features such as automatic emergency braking (AEB) and lane departure warning (LDW).

 

  • Volvo Group and NVIDIA will jointly develop the decision-making system for autonomous commercial vehicles and other machinery in March 2021. The final system will be created to securely manage autonomous driving on public roads and highways by utilizing NVIDIA's end-to-end artificial intelligence platform for training, simulation, and in-vehicle computing.

 

  • Mercedes-Benz revealed that its ground-breaking Machine VISION AVTR concept car would use the first brain-computer interface (BCI) methods in September 2021. A direct link to the human brain completes the biometric contact with the vehicle. The measured brain waves are analyzed by a BCI device attached to the user's head after a brief calibration procedure, which then initiates a predetermined function. After a one-minute calibration, a BCI device starts directly connecting to the car and recording brain activity. The dashboard's visual cues cause the brain to respond. The autonomous driving concept vehicle's biometric connection enables an entirely new mode of interaction between humans, machines, and the environment.

 

Frequently Asked Question About This Report

b: The global autonomous car market size was $25.14 billion in 2021 and is expected to reach a value of $196.97 billion by 2030.

b: The global autonomous car market is expected to grow at a compound annual growth rate (CAGR) of 25.7% from 2021 to 2030 to reach USD 196.97 billion by 2030.

b: The semi-autonomous market segment is accounted for the biggest percentage of autonomous vehicle market.

b: General Motors (U.S.), Ford (U.S.), Daimler (Germany), Volkswagen (Germany), Toyota (Japan) (U.S.), Tesla, Inc. (the U.S.), Nissan (Japan), and Waymo are some of the major companies competing in the autonomous car sector.

b: Road safety is becoming increasingly important, traditional vehicles detoriate the environment, and autonomous vehicles are conserving more energy. These are some of the principal factors boosting the market for autonomous vehicles.

Sources

https://www.synopsys.com/automotive/autonomous-driving-levels.html

https://home.kpmg/nl/en/home/industries/infrastructure.html

https://onlinemasters.ohio.edu/blog/the-future-of-driving/

https://www.forbes.com/sites/oliverwyman/2017/05/17/google-racks-up-more-patents-than-most-automakers-on-connected-and-self-driving-cars/?sh=7b86674f41ef

https://techcrunch.com/2019/06/11/over-1400-self-driving-vehicles-are-now-in-testing-by-80-companies-across-the-u-s/