China Autonomous Vehicles Market, Size, Forecast 2022-2027, Industry Trends, Share, Growth, Outlooks, Impact of COVID-19, Company Analysis

China Autonomous Vehicles Market, Size, Forecast 2022-2027, Industry Trends, Share, Growth, Outlooks, Impact of COVID-19, Company Analysis

China Autonomous Vehicles Market is projected to reach US$ 98.89 Billion by 2030. Self-driving cars could lead China's automotive industry into the passing lane. From automated cargo trucks to driverless taxis (AVs), autonomous vehicles will change the nature of on-road driving and, in the process, revolutionize the mobility and automotive industries. The autonomous vehicle is also known as a self-driving or driverless car that can sense and read the environment and operate with minimal human input. Self-driving cars have become the primary revolution in automation and connectivity technology. Computers, smart phones, the internet, and advanced technologies merge with vehicles to assist and automate driving operations.

China Driverless Cars Market Size was US$ 1.53 Billion in 2021

Notwithstanding, China is the world's second-largest market for autonomous driving technology. Therefore, it offers massive opportunities for domestic manufacturers and global firms alike. Autonomous driving in China will gain further momentum as driverless shuttles have become publicly available, and China is potentially taking the lead in the global autonomous vehicle market.

Furthermore, one of the significant drivers behind China's accelerating transformation towards self-driving technology is its favorable policy. Beijing follows an active approach to boost autonomous driving in China: Permitting extensive AV testing on highways and the goal to integrate partial self-driving technology in 50% of all new-auto sales by 2025 undermine China's ambitions to adopt large-scale, self-driving technology. Further, the Chinese government is expected to introduce official regulations on autonomous vehicles by 2023.

China's Autonomous Vehicles Industry will grow with a CAGR of 58.9% during 2021-2030

On the basis of Level of Driving, the China Self Driving Car market is segmented into level 3, level 4, and level 5. The level 3 automation of the semi-autonomous market segment is expected to show the fastest growth. Its adoption rate is moderate; nevertheless, due to the increasing technological development, its penetration rate is relatively higher than level 1 and level 2. Besides, The China FAW Group Corporation is the leading domestic automotive OEM in autonomous vehicle technology development. It will likely pioneer L4 autonomous vehicle technology and achieve commercialization in 2020.

Market Insights, Technology Wise; Hardware and Software Components

Based on technology, Autonomous Vehicles are Market by hardware and software components. Hardware components include HMI Hardware, Mapping Hardware, V2X Hardware, Safety-Related HMI Hardware, Control Systems, and Computing Hardware, Connectivity Hardware, Actuators, Sensing & Local Mapping Hardware. Again we have categorized the market on the basis of software components; Embedded Controls Software Market, V2X Software Market, Mapping Software Market, Data Security Software Market, and HMI Software Market. The China Autonomous Vehicles market is fragmented into AutoX, Baidu Apollo, Didi Chuxing, Pony.ai, TuSimple, WeRide.

Renub Research report titled “China Autonomous Vehicles Market Global Forecast by Driverless Car Levels (L3, L4, L5), Hardware (Sensing & Local Mapping Hardware (Radar, LIDAR, Cameras) HMI Hardware, Mapping Hardware, V2X Hardware, Safety-Related HMI Hardware, Control Systems, and Computing Hardware, Connectivity Hardware, Actuators), Software (V2X Software, Mapping Software, Embedded Controls Software, HMI Software, Data Security Software), , Companies (AutoX, Baidu Apollo, Didi Chuxing, Pony.ai, TuSimple, WeRide) provides a detailed insight of the China Autonomous Vehicles Industry.

China Autonomous Vehicles Market

Level 3: Semi-Autonomous
Semi-Autonomous Driving

Level 4: High Automation
Self Driving Car

Level 5: Full Automation
Self Driving Car

Numbers – Autonomous Vehicles

1. Semi-Autonomous Driving
(Level 3 Cars)

2. Self-Driving Car
Level 4: High Automatio
Level 5: Full Automation

Technology – Market has been divided into two Technologies:

1. Hardware Components
2. Software Components

Hardware Components – Market breakup from 13 viewpoints:

1. Sensing & Local Mapping Hardware

a) LIDAR
b) Radar
c) Cameras

2. Actuators
3. Connectivity Hardware

a) Embedded Mode
b) Embedded Controls Hardware

4. Control Systems and Computing Hardware

a) Passive Components
b) Other Electronics & Architecture

5. Safety-Related HMI Hardware

a) Odometry Sensors
b) Ultrasonic Sensors

6. V2X Hardware
7. Mapping Hardware
8. HMI Hardware

Software Components – Market breakup from 5 viewpoints:

1. V2X Software
2. Embedded Controls Software
3. Mapping Software
4. Data Security Software
5. HMI Software

All companies have been covered from 2 viewpoints:
Overview
Recent Developments

Company Analysis

1. AutoX
2. Baidu Apollo
3. Didi Chuxing
4. Pony.ai
5. TuSimple
6. WeRide