The global autonomous vehicle market size was valued at USD 121.78 billion in 2022 and is projected to hit around USD 2,353.93 billion by 2032 with a CAGR of 35% from 2023 to 2032
Vehicles that sense its environment and operate without human involvement are termed as autonomous cars. An autonomous vehicle utilizes a completely automated driving system that allows the vehicle to respond accordingly to the external conditions as a human driver would manage.
The Society of Automotive Engineers (SAE) outlines 6 stages of automation that ranges from Level 0 to Level 5. Level 0 means zero automation or completely manual and level 5 means complete or full automation. In other terms, these levels of automation are defined as the degree of human intervention required in a vehicle.
Get the Sample Pages of the Report for More Understanding@ https://www.precedenceresearch.com/sample/1074
Growth Factors
Autonomous vehicle was the most awaited technology in the field of automobile due to everyday increasing road accidents and increasing need for driver assistance technologies. Government initiatives influencing the adoption of these vehicles in compliance with their plan to reduce the harmful gas emission from vehicles significantly drives the market growth for autonomous vehicles. The government of some regions such as Europe and North America also offer incentives to the public for the purchase of electric and hybrid vehicles. Hybrid and electric vehicles are the most important example of autonomous cars. Furthermore, significant investments for the transportation infrastructure development along with rising disposable income in the developing regions are positively influencing the rising demand for autonomous vehicles in the coming years. However, the high cost of components for the autonomous vehicles may restrict the market growth in the under developed or developing nations.
Report Highlights | Details |
Market Size in 2023 | USD 158.31 Billion |
Market Size by 2032 | USD 2,353.93 Billion |
Growth Rate from 2023 to 2032 | CAGR of 35% |
Largest Market | Asia Pacific |
Fastest Growing Market | North America |
Base Year | 2022 |
Forecast Period | 2023 to 2032 |
Segments Covered | Application, Level of Automation, Propulsion, Vehicle, Region |
Regional Snapshots
North America is the most promising region and the market leader in the global autonomous vehicle market in 2019. Prior acceptor of advanced technologies and vehicle advancement are the prime factors contributing significantly towards the regional growth. In addition, the rising volume for semi-autonomous cars in the region especially in USA and Canada are likely to boost the market growth. Moreover, increasing investment from technology innovators such as Microsoft, Google, and Delphi automotive are likely to project the region as the prime adopter of autonomous vehicles followed by Europe and Asia Pacific.
Report Highlights
Key Players & Strategies
The global autonomous vehicle market is highly competitive and offers numerous opportunities for the industry participants to upscale their market performance and position. In addition, the market also provides lucrative growth prospects for the new entrants. Implementation of smart and advanced electronic products along with sensors in various parts of the automobile transforms it into autonomous vehicles. Furthermore, upcoming technologies such as Artificial Intelligence (AI), Machine Learning (ML), and other advanced technologies upgrade the performance of the vehicles. Thus startup players grab significant opportunity to provide services and core technologies to the automotive giants for automobile application. Product enhancement, upgradation, and innovation are the prime growth aspects for the active market players. In addition, they also focus towards merger, collaboration, and partnership with technology providers to enhance their product features and performance.
Read Also: Automotive Electronic Control Unit Market Size Worth US$ 120.8 Bn by 2032
Some of the prominent players in the autonomous vehicle market include:
By Application
By Level of Automation
By Propulsion Type
By Vehicle Type
By Regional Outlook
Table of Content
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Autonomous Vehicle Market
5.1. COVID-19 Landscape: Autonomous Vehicle Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Autonomous Vehicle Market, By Application
8.1. Autonomous Vehicle Market, by Application, 2023-2032
8.1.1. Defense
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Transportation
8.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Autonomous Vehicle Market, By Level of Automation
9.1. Autonomous Vehicle Market, by Level of Automation, 2023-2032
9.1.1. Level 1
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Level 2
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Level 3
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Level 4
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Level 5
9.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Autonomous Vehicle Market, By Propulsion Type
10.1. Autonomous Vehicle Market, by Propulsion Type, 2023-2032
10.1.1. Semi-autonomous
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Fully Autonomous
10.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Autonomous Vehicle Market, By Vehicle Type
11.1. Autonomous Vehicle Market, by Vehicle Type, 2023-2032
11.1.1. Passenger Car
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. Commercial Vehicle
11.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Autonomous Vehicle Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Application (2020-2032)
12.1.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.1.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.1.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Application (2020-2032)
12.1.5.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.1.5.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.1.5.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Application (2020-2032)
12.1.6.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.1.6.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.1.6.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Application (2020-2032)
12.2.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.2.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.2.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Application (2020-2032)
12.2.5.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.2.5.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.2.5.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Application (2020-2032)
12.2.6.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.2.6.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.2.6.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Application (2020-2032)
12.2.7.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.2.7.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.2.7.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Application (2020-2032)
12.2.8.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.2.8.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.2.8.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Application (2020-2032)
12.3.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.3.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.3.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Application (2020-2032)
12.3.5.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.3.5.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.3.5.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Application (2020-2032)
12.3.6.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.3.6.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.3.6.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Application (2020-2032)
12.3.7.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.3.7.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.3.7.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Application (2020-2032)
12.3.8.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.3.8.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.3.8.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Application (2020-2032)
12.4.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.4.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.4.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Application (2020-2032)
12.4.5.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.4.5.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.4.5.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Application (2020-2032)
12.4.6.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.4.6.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.4.6.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Application (2020-2032)
12.4.7.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.4.7.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.4.7.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Application (2020-2032)
12.4.8.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.4.8.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.4.8.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Application (2020-2032)
12.5.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.5.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.5.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Application (2020-2032)
12.5.5.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.5.5.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.5.5.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Application (2020-2032)
12.5.6.2. Market Revenue and Forecast, by Level of Automation (2020-2032)
12.5.6.3. Market Revenue and Forecast, by Propulsion Type (2020-2032)
12.5.6.4. Market Revenue and Forecast, by Vehicle Type (2020-2032)
Chapter 13. Company Profiles
13.1. BMW AG
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Audi AG
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Ford Motor Company
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Daimler AG
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Google LLC
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. General Motors Company
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Nissan Motor Company
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Honda Motor Co., Ltd.
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Toyota Motor Corporation
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Tesla
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Contact Us:
Mr. Alex
Sales Manager
Call: +1 9197 992 333
Email: sales@precedenceresearch.com
Web: https://www.precedenceresearch.com
The global automotive seat market size is calculated at USD 94.13 billion in 2024 and…
The global pit bike market size reached USD 2.14 billion in 2023 and is projected…
The global go kart market size is calculated at USD 154.66 billion in 2024 and…
The global industrial electric vehicle market size is calculated at USD 26.04 billion in 2024…
The U.S. automotive retrofit electric vehicle powertrain market size reached USD 64.62 billion in 2023…
The global industrial vehicle market size reached USD 41.72 billion in 2023 and is projected…