Self-Driving Car Market: Global Industry Analysis and Forecast (2021-2027)

Self-Driving Car Market size was valued at US$ 20. 97 Bn. in 2020 and the total revenue is expected to grow at 22.75 % through 2021 to 2027, Self-Driving Car Market is reaching nearly US$ 62. 93 Bn. by 2027.

Self-Driving Car Market Overview

Automobile manufacturers have been able to create self-driving capabilities because of technological advancements in the fields of artificial intelligence, machine learning, and other sensors like RADAR, LIDAR, GPS, and computer vision. Though levels of autonomy vary, many corporations are working to integrate more powerful control systems into automobiles that can interpret sensory inputs to recognize signboards and avoid collisions. Apple's next goal is to release a self-driving electric automobile in 2025. Pony.ai is a cutting-edge company that offers some of the most cutting-edge AI-based self-driving automobile technologies. Pony.ai wants to revolutionize transportation by developing fully autonomous self-driving smart automobiles. Self-driving cars, according to one company, are efficient, safe, and cost-effective. Self-Driving Car Market To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2015 to forecast the market through 2027. 2020 is considered a base year however 2020’s numbers are on real output of the companies in the market. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Self-Driving Car Market Dynamics:

The global self-driving car market is expected to grow at a higher rate, thanks to the introduction of new self-driving car technology. During the forecast period, continued advancements in semi-autonomous technologies such as adaptive travel control, forward collision avoidance, and automatic parking are likely to accelerate the use of self-driving automobiles. Advances in artificial intelligence, blockchain, and cloud computing technologies have covered the way for much smaller, technically specialised firms to cooperate with major automotive players to produce more unusual self-driving cars. On the other side, the quantity and complexity of AI rules is expected to expand, making it difficult for important parties to understand how they utilised the technology. During the forecast period, rigorous government rules pertaining to data security are expected to limit the market growth. Many sensors, such as LiDAR and RADAR systems, work together in a self-driving vehicle to perform duties without the assistance of a driver. These sensors aid navigation by analysing the situation, planning motion, and controlling the path. As a result of mounting safety concerns and technological developments, governments in countries such as the United States, Germany, China, and Japan, among others, have begun to accept and approve autonomous vehicles. Such factors are projected to boost the growth of the self-driving car market over the forecast period. Many government agencies are working on various efforts to bring self-driving automobiles to their respective countries. For example, in February 2020, the European Union (EU), the ENSEMBLE consortium, and TNO, the Netherlands organization for applied scientific research, unveiled a multi-brand truck platooning deployment plan on European highways. Multi-brand truck platooning will allow a single truck to join with other trucks to form a convoy. Self-Driving Car Market 1

Self-Driving Car Market Segmentation:

Based on Automation, the market is sub-segmented into Radar sensor, Ultrasound sensor, Video cameras, LiDAR senor, Central computing system, Global positioning system (GPS) navigation system. LiDAR Sensors and cameras are the most important components of autonomous vehicles. LiDAR can be used as the eyes of self-driving cars because it can provide a 360-degree picture of the environment, allowing the car to drive safely on its own. Many self-driving cars use it to navigate the surrounding environment in real-time. It's also ideal for 3D mapping, which means returning cars can negotiate the land with greater predictability, which is a big gain for most self-driving systems. Self-Driving Car Market 2 Based on Application, the market is sub-segmented into Transportation and Defence. Industrial and commercial applications are separated from the transportation segment. Due to an increase in the number of initiatives across various regions, such as North America, the defence segment is expected to emerge as the largest segment throughout the forecast period. For example, the United States Army announced in April 2019 that autonomous combat trucks will be deployed to help soldiers avoid mishaps caused by driving.

Global Self-Driving Car Market Regional Analysis:

In the global self-driving car market, Europe is expected to have a strong position. Because of the existence of major vehicle manufacturers such as Volvo, Volkswagen, and Fiat Chrysler Automobiles, Europe is likely to be profitable during the forecast period. Government attempts to build communication and road infrastructure to enable self-driving cars to effectively connect with their environments are expected to drive the self-driving car market's growth. During the forecast period, North America is expected to be second the largest region in the market. Due to characteristics such as strong and established automotive firm clusters, as well as being home to some of the world's top technical giants such as Google, Microsoft, Apple, and others, the region has been a developer in the field of autonomous vehicles. Self-driving cars have already been tested and used in California, Texas, Arizona, Washington, Michigan, and other places in the United States, particularly in California. Various technology firms across the country are setting new records for total miles tested. For example, Cruise LLC ended 2020 by increasing the distance that its cars can go before requiring the assistance of a safety driver. Self-Driving Car Market 3 The objective of the report is to present a comprehensive analysis of the global Self-Driving Car Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Self-Driving Car Market dynamics, structure by analyzing the market segments and project the global Self-Driving Car Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Self-Driving Car Market make the report investor’s guide.

Global Self-Driving Car Market Scope: Inquire before buying

Global Self-Driving Car Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 20. 97 Bn.
Forecast Period 2021 to 2027 CAGR: 22.75 % Market Size in 2027: US $ 62. 93 Bn.
Segments Covered: by Types • Level 1 • Level 2 • Level 3 • Level 4 • Level 5
by Component • Semi-autonomous • Fully autonomous cars
by Automation • Radar sensor • Ultrasound sensor • Video cameras • LiDAR senor • Central computing system • Global positioning system (GPS) • navigation system
by Application • Personal use • Commercial use

Global Self-Driving Car Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Global Self-Driving Car Market Key Players

• General Motors • Ford Motor Company • Nissan Motor Company • Volkswagen • Huawei • Audi • Ford • Kia-Hyundai • Apple • Waymo • Pony.ai • Tesla • Autoliv Inc • Aptiv • Waymo LLC • Robert Bosh • Volvo • Ford Motor • BMW

Frequently Asked Questions:

1) What was the market size of Global Self-Driving Car Market in 2020? Ans - Global Global Self-Driving Car Market was worth US$ 20. 97 Bn. 2020. 2) What is the market segment of the Self-Driving Car Market? Ans -The market segments are based on Type, Component, Automation and Application. 3) What is the forecast period considered for Global Self-Driving Car Market? Ans -The forecast period for Global Self-Driving Car Market is 2021 to 2027. 4) What is the market size of Global Self-Driving Car Market in 2027? Ans – Global Self-Driving Car Market is estimated as worth US$ 62. 93 Bn. 5) Which region is dominated in Global Self-Driving Car Market? Ans -In 2020, Europe region dominated the Global Self-Driving Car Market.
1. Global Self-Driving Car Market : Research Methodology 2. Global Self-Driving Car Market : Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Self-Driving Car Market 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 Self-Driving Car Market : 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 • Latin America 3.12. COVID-17.6 Impact 4. Global Self-Driving Car Market Segmentation 4.1. Global Self-Driving Car Market ,by Type (2020-2027) • Level 1 • Level 2 • Level 3 • Level 4 • Level 5 4.2. Global Self-Driving Car Market ,by Component (2020-2027) • Semi-autonomous • Fully autonomous cars 4.3. Global Self-Driving Car Market ,by Automation (2020-2027) • Radar sensor • Ultrasound sensor • Video cameras • LiDAR senor • Central computing system 4.4. Global positioning system (GPS) navigation system Global Self-Driving Car Market ,by Application (2020-2027) • Personal use • Commercial use 5. North America Self-Driving Car Market (2020-2027) 5.1. North America Self-Driving Car Market ,by Type (2020-2027) • Level 1 • Level 2 • Level 3 • Level 4 • Level 5 5.2. North America Self-Driving Car Market ,Vehicle type (2020-2027) • Semi-autonomous • Fully autonomous cars 5.3. North America Self-Driving Car Market ,By Automation (2020-2027) • Radar sensor • Ultrasound sensor • Video cameras • LiDAR senor 5.4. North America Self-Driving Car Market ,by Application (2020-2027) • Personal use • Commercial use 5.5. North America Self-Driving Car Market , by Country (2020-2027) • US • Canada • Mexico 6. European Self-Driving Car Market (2020-2027) 6.1. European Self-Driving Car Market ,by Type (2020-2027) 6.2. European Self-Driving Car Market ,by Component (2020-2027) 6.3. European Self-Driving Car Market ,by Automation (2020-2027) 6.4. European Self-Driving Car Market ,by Application (2020-2027) 6.5. European Self-Driving Car Market ,by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Self-Driving Car Market (2020-2027) 7.1. Asia Pacific Self-Driving Car Market ,by Type (2020-2027) 7.2. Asia Pacific Self-Driving Car Market ,by Component (2020-2027) 7.3. Asia Pacific Self-Driving Car Market ,by Automation (2020-2027) 7.4. Asia Pacific Self-Driving Car Market ,by Application (2020-2027) 7.5. Asia Pacific Self-Driving Car Market ,by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Self-Driving Car Market (2020-2027) 8.1. Middle East and Africa Self-Driving Car Market ,by Type (2020-2027) 8.2. Middle East and Africa Self-Driving Car Market ,by Component (2020-2027) 8.3. Middle East and Africa Self-Driving Car Market ,by Automation (2020-2027) 8.4. Middle East and Africa Self-Driving Car Market ,by Application (2020-2027) 8.5. Middle East and Africa Self-Driving Car Market ,by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Self-Driving Car Market (2020-2027) 9.1. Latin America Self-Driving Car Market ,by Type (2020-2027) 9.2. Latin America Self-Driving Car Market ,by Component (2020-2027) 9.3. Latin America Self-Driving Car Market ,by Automation (2020-2027) 9.4. Latin America Self-Driving Car Market ,by Application (2020-2027) 9.5. Latin America Self-Driving Car Market ,by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. BMW 10.1.1. 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. General Motors 10.3. Ford Motor Company 10.4. Nissan Motor Company 10.5. Volkswagen 10.6. Huawei 10.7. Audi 10.8. Ford 10.9. Kia-Hyundai 10.10. Apple 10.11. Waymo 10.12. Pony.ai 10.13. Tesla 10.14. Autoliv Inc 10.15. Aptiv 10.16. Waymo LLC 10.17. Robert Bosh 10.18. Volvo 10.19. Ford Motor

About This Report

Report ID 35592
Category Automotive and Transportation
Published Date oct 2019
Updated Date Nov 2021
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