Autonomous Vehicle Market was valued at 22.99 Million Units in 2022, and it is expected to reach 55.12 Million Units by 2029, exhibiting a CAGR of 13.3% during the forecast period (2023-2029) A self-driving car, also known as an autonomous car, is a ground vehicle that is capable of recognising its surroundings and travelling safely with little or no human input. To sense their surroundings, self-driving cars use a range of sensors, including thermographic cameras, radar, LIDAR, sonar, GPS, odometry, and inertial measurement units. Sensor data is interpreted by advanced control systems to detect acceptable navigation courses, impediments, and pertinent signs. Vehicles running at Level 3 and higher maintain a minor market share as of March 2022. Waymo is the first service provider to provide driver-less taxi trips to the general public in a Phoenix, Arizona neighbourhood in December 2020. Honda was the first company to deliver a legally certified Level 3 vehicle in March 2021, and Toyota ran a possibly Level 4 service around the Tokyo 2020 Olympic Village. Nuro has been granted permission to begin commercial autonomous delivery operations in California in 2021. Mercedes-Benz became the second company to get legal permission for a Level 3 automobile that met regulatory standards in December 2021. In February 2022, Cruise became the second service provider in San Francisco, California, to offer driver-less taxi trips to the general public. In China, two publicly accessible robotaxis experiments have been launched: one in 2020 in Shenzhen's Pingshan District by Chinese business AutoX and one in 2021 at Beijing's Shougang Park by Baidu, a destination for the 2022 Winter Olympics.To know about the Research Methodology :- Request Free Sample Report
Research MethodologyThe research report highly depends on both primary and secondary data sources. The research process involves the investigation of various factors affecting the industry, such as government policy, market environment, competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and technical progress in related industries, as well as market risks, opportunities, market barriers, and challenges. All conceivable elements influencing the markets included in this research study have been considered, examined in depth, validated through primary research, and evaluated to provide the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalised, and the impact of inflation, economic downturns, regulatory & policy changes, and other variables is factored into the market forecast. This data is combined and added with detailed inputs and analysis, and presented in the report. Extensive primary research was conducted to acquire information and verify and confirm the crucial numbers arrived at after comprehensive market engineering and calculations for market statistics; market size estimations; market forecasts; market breakdown; and data triangulation. Bottom-up technique is widely employed in the whole market engineering process, along with multiple data triangulation methodologies, to perform market estimation and forecasting for the overall market segments and sub-segments covered in this research.
Autonomous Vehicle Market DynamicsIncreasing developments in autonomous shared mobility: Autonomous vehicles might run with little or no human assistance, which is a growing trend in autonomous shared transportation. These cars are being designed to reduce accidents caused by human mistake, to reduce road congestion, and to provide hassle-free transportation. The development of self-driving vehicles will accelerate the rise of ride-sharing. According to the Future of Driving research from Ohio University, the adoption of autonomous taxis would reduce the average waiting time for a cab from 5 minutes to 36 seconds. The cost of a ride with autonomous ride-sharing would be as low as USD 0.5 per mile. According to secondary research, Uber's per ride rates are USD 2/mile, of which Uber keeps 50 cents and the driver keeps USD 1.50. Instead of a driver-driven car, Uber can charge a customer USD 1 per mile and earn an additional 50 cents per mile for an autonomous car or robo-taxi. However, overhead expenditures such as automobile upkeep, navigation, and payment services would be included. The difficulty of the first and final mile would likewise be solved by autonomous vehicles. AI-based camera systems for Autonomous Vehicle: Numerous Tier 1 suppliers and Autonomous Vehicle developers are focusing on the development and adoption of AI-based cameras because they provide safety features such as adaptive headlamp control, adaptive cruise control, forward collision warning, traffic sign recognition, pedestrian detection, and automated braking. AI camera systems provide several advantages, including cost reductions, the merging of multiple complimentary technologies for trustworthy safety, and a highly small form factor. Robert Bosch, one of the major suppliers of Autonomous Vehicle camera systems, has created an AI-based camera MPC3 for Autonomous Vehicle. The MPC3 is a significant step forward toward autonomous vehicles, fueled mostly by artificial intelligence. To design the camera, the Bosch team utilised a multi-path strategy. Its engineers and programmers developed a software architecture that blends traditional image-processing techniques with AI-driven methodologies, which they then installed on a high-performance system-on-chip (SoC) with an integrated CPU. This enables unparalleled scene comprehension and dependable object detection. The artificial intelligence camera operates in three steps. The first path is the currently used standard technique. Classifiers are taught using machine learning to detect and categorise certain items such as automobiles and pedestrians. The camera uses optical-flow and structure-from-motion (SfM) imagery in the second path to identify elevated objects bordering the road, such as curbstones. It generates three-dimensional structures from matching spots in photographs, whose motion sequences are recorded. The third method makes good use of artificial intelligence. This new generation of multifunctional cameras can separate the roadway from the shoulder and identify distinct things, which is yet another first in object detection. It employs neural networks and semantic segmentation to categorise each pixel in a picture. This is a significant benefit since road markers are no longer necessary to keep an Autonomous Vehicle on track. By merging all three detection paths, errors can be reduced. High system and component cost: Autonomous vehicles are made up of many components, and their configuration varies depending on the features and technologies employed. These systems are made up of microcontrollers, electronic control units, and numerous sensors. Radar, LiDAR, ultrasonic, image, radio or laser sensors, and infrared sensors are used by the control units. The systems also include a human-machine interface that supports or warns the driver when needed. Increased rivalry among OEMs has resulted from rising demand for autonomous vehicles and rising consumer expectations. In the automobile business, innovation plays a critical role in satisfying these demands and expectations. Regulatory compliance is another important aspect driving the present wave of automobile innovation. Another driver of innovation is the rising amount of software-driven electronic components in today's cars. These components allow for faster innovation not just in telematics and on-board infotainment, but also in vehicle handling, safety, servicing, dependability, and performance. The installation of additional technologies, whether driven by customer demand or regulatory compliance, eventually raises the vehicle's overall cost. Although cost is not a major consideration for premium category vehicles, it is an essential one for small and medium segment vehicles. The growing cost of automobiles limits the installation of LiDAR or expensive technologies in vehicles, which might stifle industry development. As a result, automakers are attempting to provide efficient features at reasonable pricing. Lack of required infrastructure in emerging countries: For autonomous vehicles to perform well, fundamental infrastructure such as well-organized roads, lane marking, and GPS connectivity are required. V2V and V2X communications need suitable network infrastructure as well. On highways, semi-autonomous and autonomous cars require information such as lane change, object recognition, vehicle distance, traffic, and services such as navigation and communication. However, due to restricted network access on roads, automobiles are not connected to each other or to cloud data. When compared to industrialised nations, the development of IT infrastructure on roads in rising countries such as Mexico, Brazil, and India is gradual. The 3G and 4G-LTE communication networks necessary for connection are only available in urban and semi-urban regions. Despite the fact that some third-party logistics businesses operate in semi-urban and rural locations, connection challenges exist. Government assistance is also required for these developing nations to deploy Autonomous Vehicles. As a result, in emerging nations, a lack of information technology communication infrastructure and a lack of government rules are important impediments to the emergence of Autonomous Vehicles. Poor infrastructure outside of metropolitan areas, financial issues, and insufficient driving training or discipline stifle growth in these nations' Autonomous Vehicles Market. Furthermore, the ongoing COVID-19 epidemic will cause financial difficulties, further delaying the creation of new infrastructure for intelligent transportation.
Autonomous Vehicle Market Segment AnalysisBased on Type, this market is segmented into semi-autonomous and fully autonomous. The semi-autonomous automobile sector commands the majority of the global market. The markets for semi-automatic and self-driving cars have been segmented based on the degree of automation (at levels 1, 2, and 3, respectively). The level 2 and level 3 automation of the market's semi-autonomous sector is predicted to develop the quickest. Its acceptance rate is now moderate; nevertheless, due to rising technical progress, its penetration rate is significantly greater than level 1. ADAS features in semi-autonomous vehicles include intelligent park assist and adaptive cruise control, among others. Because of government regulations for the adoption of driver assistance systems, the intelligent park assist and automated emergency braking sub-segments are predicted to develop the quickest in the market. According to the National Highway Traffic Safety Administration (NHTSA), autonomous emergency braking systems will be commonplace in automobiles by the end of 2022. Based on Mobility Type, the commercial (shared) mobility segment is estimated to grow fastest during the forecast period. The commercial mobility category includes ride-sharing, robo-taxi, commodities transportation, and other commercial operations. The arrival of robo-taxis is projected to pose new issues in terms of automobile ownership or the mobility as a service model. Car manufacturers, both conventional and robo-taxis, are embracing new manufacturing technology. Cars are subjected to more testing in robo-taxis than huge transport vehicles. Waymo was one of the first firms to charge for trips in its self-driving Waymo One vehicle, which featured human backup drivers. Waymo has received thousands of Chrysler Pacifica minivans from Chrysler. The agreement is intended to pave the way for firms building or working on robo-taxis to create a new business model. AutoX and Optimus Ride are two startups that provide self-driving automobiles as robo-taxis. For shared mobility, level 4 and level 5 autonomous cars will be deployed. Several firms are now investing in the development of robo-taxis and autonomous cars for use in ride-sharing, ride-hailing, robo-taxi, and car-sharing. By operating without a driver and concentrating on Mobility as a Service, a robo-taxi combines the benefits of an autonomous vehicle with e-cab hailing services (MaaS). It is expected to lower ownership costs and enhance fleet management. It would provide a safe, convenient, and cost-effective form of transportation. To establish robo-taxi services, many OEMs collaborated with autonomous driving system vendors and fleet management. Because most advancements in the field of electric cars can be seen, the robo-taxi business may first use electrically-propelled vehicles.
Autonomous Vehicle Market Regional InsightsNorth America accounted for the highest share of more than 45% in the global market in 2022. The rise of the mobility as a service industry is expected to boost the autonomous car market. North America is expected to grow significantly as a result of changes in traffic legislation in the United States to allow autonomous vehicles on public roads. To make transportation totally autonomous, the regulation is gradually being approved throughout all states in the United States. For example, the National Highway Traffic Safety Administration (NHTSA), a traffic rules authority in the United States, permitted self-driving car testing in numerous states, including Nevada, California, Florida, Michigan, and Washington, D.C., under its policy in 2013. By 2029, Asia Pacific is expected to have the greatest market share, followed by Europe and North America. The Autonomous Vehicles Market is being driven by reasons such as increased desire for a safe, efficient, and convenient driving experience, rising disposable income in emerging nations, and severe safety laws throughout the world. Due to increasing collaborations taken by Autonomous Vehicles technology providers in this area, the market in Asia Pacific is expected to develop at the fastest rate during the forecast period. In China, for example, Baidu is a prominent service provider of Autonomous Vehicles technology. This business has already successfully tested over 1 million kilometres in 13 Chinese cities. It is collaborating with Ford and NVIDIA to enhance Autonomous Vehicle investments in China. Asia Pacific also boasts one of the most developed ride-hailing sectors. China, Japan, India, South Korea, and Thailand are all part of the Asia Oceania area. China has grown as a manufacturing centre in recent years. Infrastructure upgrades and industrialisation operations in emerging economies have created new prospects for car OEMs. China's increasing technical breakthroughs have raised demand for semi-autonomous cars, which will expand the market for Autonomous Vehicles. Because of increased customer appetite for technologically sophisticated items, Europe is likely to emerge as a potentially profitable market for the adoption of self-driving automobiles. In addition, the government is launching a number of measures to improve autonomous cars. In the United Kingdom, for example, the Department of Transport (DFT) announced the debut of the Automated Lane-Keeping System (ALKS) in August 2020, which can automatically assume control of cars travelling at moderate speeds. The driver will be able to outsource driving to the cars, and the system will maintain the vehicle travelling in its lane. The government of the United Kingdom intends for self-driving vehicles to be in use in the country by 2021, and it also intends to make the necessary modifications to rules to facilitate the development of autonomous vehicles in the region.
Report scope:The Autonomous Vehicle Market research report includes product categorization, product Mobility Type, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, and the most recent dynamic analysis, among other things. The study discusses the global market's drivers, opportunities, and limitations. It discusses the influence of various drivers, trends, and constraints on market demand during the forecast period. The research also outlines market potential on a global scale. The research includes the production time, base distribution, technical characteristics, research and development trends, technology sources, and raw material sources of significant Autonomous Vehicle Market firms in terms of production bases and technologies. The more precise research also contains the key Mobility Type areas of market and consumption, significant regions and consumption, major producers, distributors, raw material suppliers, equipment providers, and their contact information, as well as an analysis of the industry chain relationship. This report's study also contains product specifications, manufacturing processes, cost structure, and data information organised by area, technology, and Mobility Type.
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Autonomous Vehicle Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: 22.99 Mn Units Forecast Period 2023 to 2029 CAGR: 13.3% Market Size in 2029: 55.12 Mn Units Segments Covered: by Component Camera Unit LiDAR Radar Sensor Ultrasonic Sensor Infrared Sensor by Electric Vehicle Battery Electric Vehicles (BEV) Hybrid Electric Vehicles (HEV) Plug-in Hybrid Electric Vehicle (PHEV) Fuel Cell Electric Vehicle (FCEV) by Mobility Type Shared Mobility Personal Mobility by Level of Autonomy L1 L2 L3 L4 L5 by Vehicle Type Semi-Autonomous Fully Autonomous
Autonomous Vehicle Market, by RegionNorth America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)
Autonomous Vehicle Market Key Players1.Delphi 2.Ford Motors 3.Tesla 4.Alphabet 5.Intel 6.Daimler Group 7.Baidu 8.Google 9.Volkswagen 10.Jaguar 11.BMW 12.General Motors 13.Toyota 14.AB Volvo 15.Autoliv 16.Bosch 17.Renault-Nissan-Mitsubishi alliance 18.Audi AG 19.General Motors Company 20.Honda Motor Co., Ltd. 21.Nissan Motor Company Frequently Asked Questions: 1] What segments are covered in the Global Autonomous Vehicle Market report? Ans. The segments covered in the Autonomous Vehicle Market report are based on Component, Electric Vehicle, Mobility Type, Level of Autonomy, and Vehicle Type. 2] Which region is expected to hold the highest share in the Global Autonomous Vehicle Market? Ans. The North America region is expected to hold the highest share in the Autonomous Vehicle Market. 3] What is the market size of the Global Autonomous Vehicle Market by 2029? Ans. The market size of the Autonomous Vehicle Market by 2029 is expected to reach 55.12 Million Units. 4] What is the forecast period for the Global Autonomous Vehicle Market? Ans. The forecast period for the Autonomous Vehicle Market is 2023-2029. 5] What was the market size of the Global Autonomous Vehicle Market in 2022? Ans. The market size of the Autonomous Vehicle Market in 2022 was valued at 22.99 Million Units.
1. Global Autonomous Vehicle Market Size: Research Methodology 2. Global Autonomous Vehicle Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Autonomous Vehicle Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Autonomous Vehicle Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Autonomous Vehicle Market Size Segmentation 4.1. Global Autonomous Vehicle Market Size, by Component (2022-2029) • Camera Unit • LiDAR • Radar Sensor • Ultrasonic Sensor • Infrared Sensor 4.2. Global Autonomous Vehicle Market Size, by Electric Vehicle (2022-2029) • Battery Electric Vehicles (BEV) • Hybrid Electric Vehicles (HEV) • Plug-in Hybrid Electric Vehicle (PHEV) • Fuel Cell Electric Vehicle (FCEV) 4.3. Global Autonomous Vehicle Market Size, by Mobility Type (2022-2029) • Shared Mobility • Personal Mobility 4.4. Global Autonomous Vehicle Market Size, by Level of Autonomy (2022-2029) • L1 • L2 • L3 • L4 • L5 4.5. Global Autonomous Vehicle Market Size, by Vehicle Type (2022-2029) • Semi-Autonomous • Fully Autonomous 5. North America Autonomous Vehicle Market (2022-2029) 5.1. North America Autonomous Vehicle Market Size, by Component (2022-2029) • Camera Unit • LiDAR • Radar Sensor • Ultrasonic Sensor • Infrared Sensor 5.2. North America Autonomous Vehicle Market Size, by Electric Vehicle (2022-2029) • Battery Electric Vehicles (BEV) • Hybrid Electric Vehicles (HEV) • Plug-in Hybrid Electric Vehicle (PHEV) • Fuel Cell Electric Vehicle (FCEV) 5.3. North America Autonomous Vehicle Market Size, by Mobility Type (2022-2029) • Shared Mobility • Personal Mobility 5.4. North America Autonomous Vehicle Market Size, by Level of Autonomy (2022-2029) • L1 • L2 • L3 • L4 • L5 5.5. North America Autonomous Vehicle Market Size, by Vehicle Type (2022-2029) • Semi-Autonomous • Fully Autonomous 5.6. North America Autonomous Vehicle Market, by Country (2022-2029) • United States • Canada 6. European Autonomous Vehicle Market (2022-2029) 6.1. European Autonomous Vehicle Market, by Component (2022-2029) 6.2. European Autonomous Vehicle Market, by Electric Vehicle (2022-2029) 6.3. European Autonomous Vehicle Market, by Mobility Type (2022-2029) 6.4. European Autonomous Vehicle Market, by Level of Autonomy (2022-2029) 6.5. European Autonomous Vehicle Market, by Vehicle Type (2022-2029) 6.6. European Autonomous Vehicle Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Autonomous Vehicle Market (2022-2029) 7.1. Asia Pacific Autonomous Vehicle Market, by Component (2022-2029) 7.2. Asia Pacific Autonomous Vehicle Market, by Electric Vehicle (2022-2029) 7.3. Asia Pacific Autonomous Vehicle Market, by Mobility Type (2022-2029) 7.4. Asia Pacific Autonomous Vehicle Market, by Level of Autonomy (2022-2029) 7.5. Asia Pacific Autonomous Vehicle Market, by Vehicle Type (2022-2029) 7.6. Asia Pacific Autonomous Vehicle Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Autonomous Vehicle Market (2022-2029) 8.1. Middle East and Africa Autonomous Vehicle Market, by Component (2022-2029) 8.2. Middle East and Africa Autonomous Vehicle Market, by Electric Vehicle (2022-2029) 8.3. Middle East and Africa Autonomous Vehicle Market, by Mobility Type (2022-2029) 8.4. Middle East and Africa Autonomous Vehicle Market, by Level of Autonomy (2022-2029) 8.5. Middle East and Africa Autonomous Vehicle Market, by Vehicle Type (2022-2029) 8.6. Middle East and Africa Autonomous Vehicle Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Autonomous Vehicle Market (2022-2029) 9.1. South America Autonomous Vehicle Market, by Component (2022-2029) 9.2. South America Autonomous Vehicle Market, by Electric Vehicle (2022-2029) 9.3. South America Autonomous Vehicle Market, by Mobility Type (2022-2029) 9.4. South America Autonomous Vehicle Market, by Level of Autonomy (2022-2029) 9.5. South America Autonomous Vehicle Market, by Vehicle Type (2022-2029) 9.6. South America Autonomous Vehicle Market, by Country (2022-2029) • Brazil • Mexico • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Delphi 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Ford Motors 10.3. Tesla 10.4. Alphabet 10.5. Intel 10.6. Daimler Group 10.7. Baidu 10.8. Google 10.9. Volkswagen 10.10. Jaguar 10.11. BMW 10.12. General Motors 10.13. Toyota 10.14. AB Volvo 10.15. Autoliv 10.16. Bosch 10.17. Renault-Nissan-Mitsubishi alliance 10.18. Audi AG 10.19. General Motors Company 10.20. Honda Motor Co., Ltd. 10.21. Nissan Motor Company