Autonomous Vehicles Market Forecasts to 2030 – Global Analysis By Component (Software, Hardware and Services), Automation Level (Driver Assistance, Partial Automation and Conditional Automation), Vehicle Type (Passenger Vehicles and Commercial Vehicles),

Autonomous Vehicles Market Forecasts to 2030 – Global Analysis By Component (Software, Hardware and Services), Automation Level (Driver Assistance, Partial Automation and Conditional Automation), Vehicle Type (Passenger Vehicles and Commercial Vehicles), Technology, Application and By Geography


According to Stratistics MRC, the Global Autonomous Vehicles Market is accounted for $60.8 billion in 2024 and is expected to reach $180.6 billion by 2030 growing at a CAGR of 19.9% during the forecast period. Autonomous vehicles, often referred to as self-driving cars or driverless cars, are vehicles equipped with advanced sensors, software, and artificial intelligence (AI) algorithms that enable them to navigate and operate without human intervention. These vehicles can perceive their environment, interpret sensory data, and make decisions to navigate roads, avoid obstacles, and adhere to traffic laws autonomously. Autonomous vehicles have the potential to revolutionize transportation by offering increased safety, efficiency and accessibility. They hold promise for reducing traffic accidents caused by human error, optimizing traffic flow, and providing mobility solutions for people who cannot drive due to age, disability, or other factors.

According to Automotive World Ltd., a leader in automotive industry information, there would be more than 2 billion cars across the globe in 2050. According to Environmental Protection Agency (EPA), in the U.S. more than 75% of the carbon monoxide is emitted by motor vehicles.

Market Dynamics:

Driver:

Rise of mobility as a service

MaaS integrates various transportation services into a unified platform, providing users with seamless access to diverse mobility options, including AVs. By incorporating AVs into MaaS networks, the technology gains broader exposure and acceptance among consumers. MaaS platforms optimize AV utilization, reducing downtime and increasing operational efficiency. Moreover, the data-driven nature of MaaS enables continuous improvement of AV algorithms and enhances safety through real-time monitoring and analysis.

Restraint:

Liability and legal issues

Uncertainty regarding who bears responsibility in the event of accidents involving autonomous vehicles complicates insurance and legal frameworks. Manufacturers, software developers, and even vehicle owners could potentially be held liable, creating a complex web of legal entanglements. However, differing regulations across jurisdictions further exacerbate the problem, hindering widespread adoption and deployment of autonomous vehicles. These elements are hindering the market growth.

Opportunity:

Increasing focus on commercial applications

Commercial sectors such as logistics, transportation, and delivery services are recognizing the potential of autonomous vehicles to streamline operations, reduce costs, and enhance efficiency. Businesses are investing heavily in research and development to integrate autonomous technology into their fleets, aiming to capitalize on its benefits. This heightened interest from commercial entities is spurring innovation, leading to advancements in autonomous vehicle capabilities, safety features, and infrastructure support. Moreover, as commercial applications demand scalability and reliability, manufacturers are compelled to refine autonomous systems to meet rigorous industry standards.

Threat:

Data security concerns

Data security concerns pose a significant hurdle in the advancement of the autonomous vehicles market. The integration of sophisticated sensors, cameras, and connectivity features in autonomous vehicles generates vast amounts of data, including sensitive information about passengers, routes, and locations. This data becomes vulnerable to cyber threats such as hacking, data breaches, and unauthorized access. However, concerns about the potential misuse of this data, including identity theft, surveillance, and manipulation of vehicle functions, undermine consumer trust and confidence in autonomous vehicles.

Covid-19 Impact:

Initially, the pandemic disrupted supply chains, leading to production delays and hindering the deployment of autonomous vehicles. Social distancing measures and lockdowns reduced demand for ride-hailing services, affecting autonomous vehicle testing and adoption. However, the pandemic highlighted the importance of safety and hygiene, prompting a greater focus on the development of self-driving technology for public transportation and shared mobility services.

The Driver Assistance segment is expected to be the largest during the forecast period

Driver Assistance segment is expected to be the largest during the forecast period, by integrating features such as adaptive cruise control, lane-keeping assistance, and automatic emergency braking, driver assistance systems enhance vehicle safety and comfort while gradually familiarizing users with semi-autonomous capabilities. These technologies mitigate human errors, reduce accidents, and improve traffic flow, thus fostering greater acceptance and trust in autonomous driving technology among consumers and regulators.

The Ride Share segment is expected to have the highest CAGR during the forecast period

Ride Share segment is expected to have the highest CAGR during the forecast period by providing a natural avenue for the adoption and integration of this technology into everyday life. Ride-sharing companies are at the forefront of incorporating autonomous vehicles into their fleets, aiming to reduce operational costs, increase efficiency, and enhance customer experience. By leveraging autonomous technology, ride-share services can offer lower fares to customers while still maintaining profitability. Additionally, these services act as a crucial testing ground for autonomous vehicle systems, allowing developers to collect real-world data and refine their technology in diverse urban environments.

Region with largest share:

Asia Pacific region commanded the largest share of the market over the extrapolated period. This regional growth is underpinned by the integration of cutting-edge technologies such as 5G networks, Internet of Things (IoT) sensors, and artificial intelligence into transportation systems. Enhanced connectivity enables seamless communication between vehicles, infrastructure, and other smart devices, fostering safer and more efficient transportation networks across the region. These advancements not only improve road safety and reduce congestion but also pave the way for innovative mobility services and smart city initiatives, positioning the region at the forefront of the global autonomous vehicles market.

Region with highest CAGR:

Through comprehensive regulatory frameworks, governments are fostering an environment conducive to AV development and deployment, Asia Pacific region is estimated to witness profitable growth during the projection period. By providing clear guidelines and standards, governments instill confidence among stakeholders, including manufacturers, investors and consumers, thus stimulating innovation and investment in AV technologies across the region. Moreover, regulations in the Asia Pacific region often include incentives and support mechanisms, such as research grants and tax breaks, which encourage collaboration between industry players and government agencies, fostering a vibrant ecosystem for AV development.

Key players in the market

Some of the key players in Autonomous Vehicles market include Audi, BMW, Continental AG, Daimler Group, Delphi, Ford Motor, General Motors, Hyundai Motor Group, Jaguar, Renault, Tesla, Uber, Volkswagen and Volvo.

Key Developments:

In August 2023, GTMC is expected to provide Pony.ai with a fleet of battery electric vehicles branded by Toyota. These vehicles are expected to feature sophisticated redundant systems of Toyota designed for Level 4 autonomous driving research and development. The autonomous driving technology of Pony.ai is expected to be seamlessly incorporated into these vehicles, and they are anticipated to be utilized on the PonyPilot + robotaxi network platform.

In July 2023, Volkswagen Group of America, Inc. (VWGoA) is commencing its inaugural autonomous vehicle testing initiative in Austin. The program is expected to launch with a fleet of 10 all-electric ID. Buzz vehicles equipped with an autonomous driving (AD) technology system, jointly developed by the global Volkswagen Group in collaboration with the technology firm Mobileye.

In July 2023, Tesla announced an investment of USD 1 billion for the development of project Dojo that aims to manage extensive volumes of data, with a specific focus on video feeds originating from Tesla vehicles, a crucial element in the advancement of autonomous driving software of the company.

Components Covered:
• Software
• Hardware
• Services

Automation Levels Covered:
• Driver Assistance
• Partial Automation
• Conditional Automation

Vehicle Types Covered:
• Passenger Vehicles
• Commercial Vehicles

Technologies Covered:
• Self-driving Truck
• Self-driving Bus
• Other Technologies

Applications Covered:
• Ride Hail
• Ride Share
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Autonomous Vehicles Market, By Component
5.1 Introduction
5.2 Software
5.3 Hardware
5.4 Services
6 Global Autonomous Vehicles Market, By Automation Level
6.1 Introduction
6.2 Driver Assistance
6.3 Partial Automation
6.4 Conditional Automation
7 Global Autonomous Vehicles Market, By Vehicle Type
7.1 Introduction
7.2 Passenger Vehicles
7.3 Commercial Vehicles
8 Global Autonomous Vehicles Market, By Technology
8.1 Introduction
8.2 Self-driving Truck
8.3 Self-driving Bus
8.4 Other Technologies
9 Global Autonomous Vehicles Market, By Application
9.1 Introduction
9.2 Ride Hail
9.3 Ride Share
9.4 Other Applications
10 Global Autonomous Vehicles Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Audi
12.2 BMW
12.3 Continental AG
12.4 Daimler Group
12.5 Delphi
12.6 Ford Motor
12.7 General Motors
12.8 Hyundai Motor Group
12.9 Jaguar
12.10 Renault
12.11 Tesla
12.12 Uber
12.13 Volkswagen
12.14 Volvo
List of Tables
Table 1 Global Autonomous Vehicles Market Outlook, By Region (2022-2030) ($MN)
Table 2 Global Autonomous Vehicles Market Outlook, By Component (2022-2030) ($MN)
Table 3 Global Autonomous Vehicles Market Outlook, By Software (2022-2030) ($MN)
Table 4 Global Autonomous Vehicles Market Outlook, By Hardware (2022-2030) ($MN)
Table 5 Global Autonomous Vehicles Market Outlook, By Services (2022-2030) ($MN)
Table 6 Global Autonomous Vehicles Market Outlook, By Automation Level (2022-2030) ($MN)
Table 7 Global Autonomous Vehicles Market Outlook, By Driver Assistance (2022-2030) ($MN)
Table 8 Global Autonomous Vehicles Market Outlook, By Partial Automation (2022-2030) ($MN)
Table 9 Global Autonomous Vehicles Market Outlook, By Conditional Automation (2022-2030) ($MN)
Table 10 Global Autonomous Vehicles Market Outlook, By Vehicle Type (2022-2030) ($MN)
Table 11 Global Autonomous Vehicles Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
Table 12 Global Autonomous Vehicles Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
Table 13 Global Autonomous Vehicles Market Outlook, By Technology (2022-2030) ($MN)
Table 14 Global Autonomous Vehicles Market Outlook, By Self-driving Truck (2022-2030) ($MN)
Table 15 Global Autonomous Vehicles Market Outlook, By Self-driving Bus (2022-2030) ($MN)
Table 16 Global Autonomous Vehicles Market Outlook, By Other Technologies (2022-2030) ($MN)
Table 17 Global Autonomous Vehicles Market Outlook, By Application (2022-2030) ($MN)
Table 18 Global Autonomous Vehicles Market Outlook, By Ride Hail (2022-2030) ($MN)
Table 19 Global Autonomous Vehicles Market Outlook, By Ride Share (2022-2030) ($MN)
Table 20 Global Autonomous Vehicles Market Outlook, By Other Applications (2022-2030) ($MN)
Table 21 North America Autonomous Vehicles Market Outlook, By Country (2022-2030) ($MN)
Table 22 North America Autonomous Vehicles Market Outlook, By Component (2022-2030) ($MN)
Table 23 North America Autonomous Vehicles Market Outlook, By Software (2022-2030) ($MN)
Table 24 North America Autonomous Vehicles Market Outlook, By Hardware (2022-2030) ($MN)
Table 25 North America Autonomous Vehicles Market Outlook, By Services (2022-2030) ($MN)
Table 26 North America Autonomous Vehicles Market Outlook, By Automation Level (2022-2030) ($MN)
Table 27 North America Autonomous Vehicles Market Outlook, By Driver Assistance (2022-2030) ($MN)
Table 28 North America Autonomous Vehicles Market Outlook, By Partial Automation (2022-2030) ($MN)
Table 29 North America Autonomous Vehicles Market Outlook, By Conditional Automation (2022-2030) ($MN)
Table 30 North America Autonomous Vehicles Market Outlook, By Vehicle Type (2022-2030) ($MN)
Table 31 North America Autonomous Vehicles Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
Table 32 North America Autonomous Vehicles Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
Table 33 North America Autonomous Vehicles Market Outlook, By Technology (2022-2030) ($MN)
Table 34 North America Autonomous Vehicles Market Outlook, By Self-driving Truck (2022-2030) ($MN)
Table 35 North America Autonomous Vehicles Market Outlook, By Self-driving Bus (2022-2030) ($MN)
Table 36 North America Autonomous Vehicles Market Outlook, By Other Technologies (2022-2030) ($MN)
Table 37 North America Autonomous Vehicles Market Outlook, By Application (2022-2030) ($MN)
Table 38 North America Autonomous Vehicles Market Outlook, By Ride Hail (2022-2030) ($MN)
Table 39 North America Autonomous Vehicles Market Outlook, By Ride Share (2022-2030) ($MN)
Table 40 North America Autonomous Vehicles Market Outlook, By Other Applications (2022-2030) ($MN)
Table 41 Europe Autonomous Vehicles Market Outlook, By Country (2022-2030) ($MN)
Table 42 Europe Autonomous Vehicles Market Outlook, By Component (2022-2030) ($MN)
Table 43 Europe Autonomous Vehicles Market Outlook, By Software (2022-2030) ($MN)
Table 44 Europe Autonomous Vehicles Market Outlook, By Hardware (2022-2030) ($MN)
Table 45 Europe Autonomous Vehicles Market Outlook, By Services (2022-2030) ($MN)
Table 46 Europe Autonomous Vehicles Market Outlook, By Automation Level (2022-2030) ($MN)
Table 47 Europe Autonomous Vehicles Market Outlook, By Driver Assistance (2022-2030) ($MN)
Table 48 Europe Autonomous Vehicles Market Outlook, By Partial Automation (2022-2030) ($MN)
Table 49 Europe Autonomous Vehicles Market Outlook, By Conditional Automation (2022-2030) ($MN)
Table 50 Europe Autonomous Vehicles Market Outlook, By Vehicle Type (2022-2030) ($MN)
Table 51 Europe Autonomous Vehicles Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
Table 52 Europe Autonomous Vehicles Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
Table 53 Europe Autonomous Vehicles Market Outlook, By Technology (2022-2030) ($MN)
Table 54 Europe Autonomous Vehicles Market Outlook, By Self-driving Truck (2022-2030) ($MN)
Table 55 Europe Autonomous Vehicles Market Outlook, By Self-driving Bus (2022-2030) ($MN)
Table 56 Europe Autonomous Vehicles Market Outlook, By Other Technologies (2022-2030) ($MN)
Table 57 Europe Autonomous Vehicles Market Outlook, By Application (2022-2030) ($MN)
Table 58 Europe Autonomous Vehicles Market Outlook, By Ride Hail (2022-2030) ($MN)
Table 59 Europe Autonomous Vehicles Market Outlook, By Ride Share (2022-2030) ($MN)
Table 60 Europe Autonomous Vehicles Market Outlook, By Other Applications (2022-2030) ($MN)
Table 61 Asia Pacific Autonomous Vehicles Market Outlook, By Country (2022-2030) ($MN)
Table 62 Asia Pacific Autonomous Vehicles Market Outlook, By Component (2022-2030) ($MN)
Table 63 Asia Pacific Autonomous Vehicles Market Outlook, By Software (2022-2030) ($MN)
Table 64 Asia Pacific Autonomous Vehicles Market Outlook, By Hardware (2022-2030) ($MN)
Table 65 Asia Pacific Autonomous Vehicles Market Outlook, By Services (2022-2030) ($MN)
Table 66 Asia Pacific Autonomous Vehicles Market Outlook, By Automation Level (2022-2030) ($MN)
Table 67 Asia Pacific Autonomous Vehicles Market Outlook, By Driver Assistance (2022-2030) ($MN)
Table 68 Asia Pacific Autonomous Vehicles Market Outlook, By Partial Automation (2022-2030) ($MN)
Table 69 Asia Pacific Autonomous Vehicles Market Outlook, By Conditional Automation (2022-2030) ($MN)
Table 70 Asia Pacific Autonomous Vehicles Market Outlook, By Vehicle Type (2022-2030) ($MN)
Table 71 Asia Pacific Autonomous Vehicles Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
Table 72 Asia Pacific Autonomous Vehicles Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
Table 73 Asia Pacific Autonomous Vehicles Market Outlook, By Technology (2022-2030) ($MN)
Table 74 Asia Pacific Autonomous Vehicles Market Outlook, By Self-driving Truck (2022-2030) ($MN)
Table 75 Asia Pacific Autonomous Vehicles Market Outlook, By Self-driving Bus (2022-2030) ($MN)
Table 76 Asia Pacific Autonomous Vehicles Market Outlook, By Other Technologies (2022-2030) ($MN)
Table 77 Asia Pacific Autonomous Vehicles Market Outlook, By Application (2022-2030) ($MN)
Table 78 Asia Pacific Autonomous Vehicles Market Outlook, By Ride Hail (2022-2030) ($MN)
Table 79 Asia Pacific Autonomous Vehicles Market Outlook, By Ride Share (2022-2030) ($MN)
Table 80 Asia Pacific Autonomous Vehicles Market Outlook, By Other Applications (2022-2030) ($MN)
Table 81 South America Autonomous Vehicles Market Outlook, By Country (2022-2030) ($MN)
Table 82 South America Autonomous Vehicles Market Outlook, By Component (2022-2030) ($MN)
Table 83 South America Autonomous Vehicles Market Outlook, By Software (2022-2030) ($MN)
Table 84 South America Autonomous Vehicles Market Outlook, By Hardware (2022-2030) ($MN)
Table 85 South America Autonomous Vehicles Market Outlook, By Services (2022-2030) ($MN)
Table 86 South America Autonomous Vehicles Market Outlook, By Automation Level (2022-2030) ($MN)
Table 87 South America Autonomous Vehicles Market Outlook, By Driver Assistance (2022-2030) ($MN)
Table 88 South America Autonomous Vehicles Market Outlook, By Partial Automation (2022-2030) ($MN)
Table 89 South America Autonomous Vehicles Market Outlook, By Conditional Automation (2022-2030) ($MN)
Table 90 South America Autonomous Vehicles Market Outlook, By Vehicle Type (2022-2030) ($MN)
Table 91 South America Autonomous Vehicles Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
Table 92 South America Autonomous Vehicles Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
Table 93 South America Autonomous Vehicles Market Outlook, By Technology (2022-2030) ($MN)
Table 94 South America Autonomous Vehicles Market Outlook, By Self-driving Truck (2022-2030) ($MN)
Table 95 South America Autonomous Vehicles Market Outlook, By Self-driving Bus (2022-2030) ($MN)
Table 96 South America Autonomous Vehicles Market Outlook, By Other Technologies (2022-2030) ($MN)
Table 97 South America Autonomous Vehicles Market Outlook, By Application (2022-2030) ($MN)
Table 98 South America Autonomous Vehicles Market Outlook, By Ride Hail (2022-2030) ($MN)
Table 99 South America Autonomous Vehicles Market Outlook, By Ride Share (2022-2030) ($MN)
Table 100 South America Autonomous Vehicles Market Outlook, By Other Applications (2022-2030) ($MN)
Table 101 Middle East & Africa Autonomous Vehicles Market Outlook, By Country (2022-2030) ($MN)
Table 102 Middle East & Africa Autonomous Vehicles Market Outlook, By Component (2022-2030) ($MN)
Table 103 Middle East & Africa Autonomous Vehicles Market Outlook, By Software (2022-2030) ($MN)
Table 104 Middle East & Africa Autonomous Vehicles Market Outlook, By Hardware (2022-2030) ($MN)
Table 105 Middle East & Africa Autonomous Vehicles Market Outlook, By Services (2022-2030) ($MN)
Table 106 Middle East & Africa Autonomous Vehicles Market Outlook, By Automation Level (2022-2030) ($MN)
Table 107 Middle East & Africa Autonomous Vehicles Market Outlook, By Driver Assistance (2022-2030) ($MN)
Table 108 Middle East & Africa Autonomous Vehicles Market Outlook, By Partial Automation (2022-2030) ($MN)
Table 109 Middle East & Africa Autonomous Vehicles Market Outlook, By Conditional Automation (2022-2030) ($MN)
Table 110 Middle East & Africa Autonomous Vehicles Market Outlook, By Vehicle Type (2022-2030) ($MN)
Table 111 Middle East & Africa Autonomous Vehicles Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
Table 112 Middle East & Africa Autonomous Vehicles Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
Table 113 Middle East & Africa Autonomous Vehicles Market Outlook, By Technology (2022-2030) ($MN)
Table 114 Middle East & Africa Autonomous Vehicles Market Outlook, By Self-driving Truck (2022-2030) ($MN)
Table 115 Middle East & Africa Autonomous Vehicles Market Outlook, By Self-driving Bus (2022-2030) ($MN)
Table 116 Middle East & Africa Autonomous Vehicles Market Outlook, By Other Technologies (2022-2030) ($MN)
Table 117 Middle East & Africa Autonomous Vehicles Market Outlook, By Application (2022-2030) ($MN)
Table 118 Middle East & Africa Autonomous Vehicles Market Outlook, By Ride Hail (2022-2030) ($MN)
Table 119 Middle East & Africa Autonomous Vehicles Market Outlook, By Ride Share (2022-2030) ($MN)
Table 120 Middle East & Africa Autonomous Vehicles Market Outlook, By Other Applications (2022-2030) ($MN)

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