The global market for autonomous vehicles will reach $325.9 billion by 2030

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DUBLIN, October 24, 2022 /PRNewswire/ — The report “Global Autonomous Vehicles Market, Size, Forecast 2022-2030, Industry Trends, Growth, Impact of COVID-19, Business Opportunity Analysis” has been added to from ResearchAndMarkets.com offer.

The global autonomous vehicle market is expected to be US$325.9 billion by 2030. Over the past decade, autonomous vehicle technology has been the best-fit megatrend, particularly in the case of Connected and Autonomous Vehicles (CAVs), which enable communication between vehicles, infrastructure and other road users, also known as V2X connectivity. . Therefore, autonomous vehicles are compiled to be an important trend in the automotive industry that promises to increase road safety and driver comfort. Substantial progress has been made in the field of autonomous vehicle technology and is increasingly attracting the attention of automakers, technology companies, policy makers and the general public.
The global autonomous vehicle market is growing at a CAGR of 47.1% during the period 2021-2030:

When it comes to the next generation of cars, there are many motivations for moving to autonomous vehicles. Today, autonomous vehicles have the potential to disrupt life, business and society enormously, whether for personal transport or the delivery of goods. Therefore, the possible benefits are theoretically addressable, and early demonstrations and experiments are encouraging. The key driving factors driving the growth of self-driving vehicles around the world are reducing accidents due to human error, reducing transportation costs and environmental impact, freeing up time currently spent on driving, and accessibility to a wider range of users.

Hardware components, along with software components, are bringing global consumers closer to autonomous vehicles:

In our report, we have summarized the hardware components and software components market by technology. Recent dynamic changes in vehicle hardware technology include on-board controls, radar, LIDAR, actuators, cameras, on-board modem, passive components, other electronic and architectural components, ultrasonic sensors, sensors odometer, mapping hardware, v2x hardware, HMI hardware, e.g. auto braking, auto cruise control, smart speed assist, online maintenance support systems. These components also bring global consumers closer to increasingly autonomous and independent vehicles, who will use these solutions.

Tier 3 vehicles, holds the most dominant market share:
The ability of autonomous vehicles to operate without human intervention depends on their level of technological sophistication. Our report covers autonomous vehicles at levels 3, 4, and 5. Also, to be specific, level 3 is conditional automation, level 4 is high automation, and level 5 is full automation. Level 3 vehicles will be a turning point for technology testing, opening the door to mass market adoption of automated technology. Our analysis shows that Level 3 vehicles, also known as conditional driving automation vehicles, hold the dominant market share due to their environmental sensing capabilities.

The US region dominates the autonomous vehicle market:
America has dominated the autonomous vehicle market. Factors such as strong and established automotive business clusters and the US region home to the world’s largest technology companies such as Google, Microsoft, Apple have been pioneers in autonomous vehicles. Besides, in United Statesself-driving cars are already being tested and used in California, Texas, Arizona, Washington, Michigan. However, their mobility is limited to specific test areas and driving conditions.

Moreover, the market for Asia Pacific is expected to grow rapidly due to the growing adoption of these vehicles and growing customer preferences for technologically advanced features. In addition, automakers plan to expand production units and rapidly improve the technology of manufacturing facilities in emerging countries, India and China. Additionally, the government of China works vigorously to gain competitive advantage in automotive technology.

The Autonomous Vehicles Market has been studied from 4 categories in this report:

  • Market
  • Volume
  • Regions
  • Technology

Figures – Global Self Driving Car

  • Level 4: High automation
  • Level 5: Full Automation

Region – Market & volume distribution according to 3 points of view:

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

Technology – The driverless car technology market has been divided into two broad categories:

  • Hardware components
  • Software components

Hardware Components – Market Breakdown by 13 Views:

  • LIDAR
  • Radar
  • Cameras
  • Actuators
  • Built-in modem
  • Integrated control hardware
  • Passive components
  • Other electronics and architecture
  • Odometry sensors
  • Ultrasonic sensors
  • V2X hardware
  • Mapping equipment
  • HMI hardware

Software components – Market breakdown according to 5 points of view:

  • V2X software
  • Integrated control software
  • Mapping software
  • Data security software
  • HMI software

All companies were covered from 2 points of view:

  • Insight
  • RECENT DEVELOPMENTS

Company analysis:

  • Google
  • Apple
  • Mercedes-Benz

Main topics covered:

1. Introduction

2. Research and methodology

3. Executive Summary

4. Market dynamics

5. Global Autonomous Vehicle Market

6. Figures – Autonomous vehicle market

7. Market share

8. Region – Autonomous Vehicle Market

9. Region – Autonomous Vehicle Market

10. Technology

11. Hardware Components – Market Analysis

12. Software Components – Market Analysis

13. Product Type – China Frozen Food Market

14. Business Analysis

Companies cited

  • Google
  • Apple
  • Mercedes-Benz

For more information on this report visit https://www.researchandmarkets.com/r/loqdev

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Research and Markets
Laura Woodsenior
[email protected]

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