Autonomous Vehicle Market Size, Share, Growth, Trends, and Growth Industry Analysis: Vehicle Type, Components, Application Type, and Region Forecast 2019-2030

Autonomous Vehicle Market Size, Share, Growth, Trends, and Global Industry Analysis: Size, Share, Growth, Trends, and Growth Industry Analysis Vehicle Type (Passenger Cars and Commercial Vehicles), Components (Camera Unit, LiDAR, Radar Sensor Ultra Sounding, and Infrared Sensor), Application Type (Transportation and Defence), and Region Forecast 2019-2030

Autonomous Vehicle Market size was valued at US$ 45,736.5 million in 2023 and is projected to reach US$ 105,616.2 million by 2030, growing at a CAGR of 12.7% from 2024-2030. The market for autonomous vehicles is evolving quickly due to growing consumer demand for safer and more effective transportation, higher investment levels, and technological breakthroughs. Major motivating factors are the development of artificial intelligence, machine learning, and sensor technologies that are crucial for the development of autonomous systems and their further enhancement. Supportive legislative environments and considerable investments on the part of well-known tech and carmakers are among other propellants for this market. The market is constrained by several factors, including as high research and implementation costs, ambiguous regulations, and public worries about safety and data privacy. Opportunities have developed as technical advancements lower prices and improve vehicle performance, and as tech companies and manufacturers develop alliances, it becomes easier to integrate autonomous systems.

Some of these emerging trends pertain to the higher functionalities of advanced driver-assistance systems(ADAS) that are going to be developed and integrated with smart city infrastructure to improve traffic management and urban mobility in general. These ongoing evolvements will, therefore, promise to shape the future landscape of the automotive industry together with further advancements and adoptions of autonomous vehicles. An AV, also called an autonomous, self-driving, or driverless vehicle, is a vehicle that can move itself without any kind of human input. These vehicles apply advanced technologies and different sensors to identify the environment, make decisions, and control movement. Continued sensor technology advancements together with improvements in AI and ML software development are driving improvements in these types of vehicle capabilities. These technologies play a critical role in improving the perception, and general safety of autonomous systems.

Autonomous Vehicle Market Key Developments:

  • In August 2023, Pony.ai, a U.S.-based software company, partnered with Toyota Motor (China) Investment Co., Ltd. and GAC Toyota Motor Co., Ltd. to create a joint venture aimed at advancing fully driverless robotaxis for mass production and deployment. This initiative combines Pony. Ai’s autonomous driving tech, Toyota's branded electric vehicles, and GTMC's production expertise. Together, they'll offer safe and convenient robotaxi services, propelling the industry towards commercialized autonomous mobility.
  • In July 2023, Volkswagen, a German-based Automobile manufacturer, plans to initiate trials of self-driving vehicles in Austin, Texas, shifting away from Argo AI. The German auto manufacturer intends to introduce roughly 10 ID Buzz electric vans, equipped with autonomous systems developed alongside Mobileye, into the city by the end of 2023.

 

Autonomous Vehicle Market Summary

Study Period

2024 - 2030

Base Year

2023

CAGR

12.7%

Largest Market

North America

Fastest Growing Market

Asia pacific

Autonomous Vehicle Market Analysis Dynamics

The non-existence of well-structured and standardized regulatory structures is a major constraint to the autonomous vehicle market. The lack of uniform laws and regulations in the respective regions becomes the source of ambiguities and hurdles for the large-scale deployment of AVs. The adaptation of self-driving cars may be delayed due to issues regarding regulatory compliance, safety standards, and legal compulsions. These are serious obstacles. Despite rapid development, self-driving cars still grapple with numerous technological challenges. The challenging conditions that prevail at present for autonomous systems include bad weather, complex metropolitan environments, and unique and unexpected situations. A far more formidable obstacle is complete autonomy in all driving conditions. For example, California Governor Gavin Newsom vetoed legislation that would require human drivers to always be in self-driving trucks for safety; union leaders and truck drivers opposed it based on saving thousands of jobs in that state. The vetoed legislation, announced Friday night, would have banned self-driving semis weighing more than 10,000 everything from UPS delivery vans to large big rigs-from operating on public roads unless accompanied by a human driver.

Autonomous Vehicle Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024 - 2030

Market Size in 2023

US$ 45,736.5 million

Market Size in 2030

US$ 105,616.2 million

Market CAGR

12.7%

By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles

By Component

  • Camera Unit
  • LiDAR
  • Radar Sensor Ultra Sounding
  • Infrared Sensor

By Application

  • Transportations
  • Defence

Key Features of the Report

  • The autonomous vehicle market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenarios.

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Frequently Asked Questions

The autonomous vehicle market was valued at US$ 45,736.5 million in 2023 and is expected to grow at a CAGR of 12.7% from 2024 - 2030.

The autonomous vehicle market is growing consistent advancements in the technology of AVs fuel the market growth

The development of advanced driver-assistance systems (ADAS) and the integration of autonomous vehicles into smart city infrastructures, aiming to improve traffic management and overall urban mobility are the trends in the autonomous vehicle market

North America is the dominating region in the autonomous vehicle Market.

1. Executive Summary
2. Global Autonomous Vehicle Market Introduction 
2.1.Global Autonomous Vehicle Market  - Taxonomy
2.2.Global Autonomous Vehicle Market  - Definitions
2.2.1.Vehicle Type 
2.2.2.Component 
2.2.3.Application
2.2.4.Region
3. Global Autonomous Vehicle Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4. Global Autonomous Vehicle Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5. Global Autonomous Vehicle Market  By Vehicle Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Passenger Cars
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Commercial Vehicles
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
6. Global Autonomous Vehicle Market  By Component, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Camera Unit
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. LiDAR
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Radar Sensor Ultra Sounding
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Infrared Sensor
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
7. Global Autonomous Vehicle Market  By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Transportations
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Defence
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
8.Global Autonomous Vehicle Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.North America Autonomous Vehicle Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. Vehicle Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Passenger Cars
9.1.2.Commercial Vehicles
9.2.  Component  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Camera Unit
9.2.2.LiDAR
9.2.3.Radar Sensor Ultra Sounding
9.2.4.Infrared Sensor
9.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Transportations
9.3.2.Defence
9.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10. Europe Autonomous Vehicle Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Vehicle Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Passenger Cars
10.1.2.Commercial Vehicles
10.2.  Component  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Camera Unit
10.2.2.LiDAR
10.2.3.Radar Sensor Ultra Sounding
10.2.4.Infrared Sensor
10.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Transportations
10.3.2.Defence
10.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
10.4.6.Rest of EU
11.Asia Pacific (APAC) Autonomous Vehicle Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Vehicle Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Passenger Cars
11.1.2.Commercial Vehicles
11.2.  Component  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Camera Unit
11.2.2.LiDAR
11.2.3.Radar Sensor Ultra Sounding
11.2.4.Infrared Sensor
11.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Transportations
11.3.2.Defence
11.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12.Middle East and Africa (MEA) Autonomous Vehicle Market,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Vehicle Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Passenger Cars
12.1.2.Commercial Vehicles
12.2.  Component  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Camera Unit
12.2.2.LiDAR
12.2.3.Radar Sensor Ultra Sounding
12.2.4.Infrared Sensor
12.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Transportations
12.3.2.Defence
12.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13.Latin America Autonomous Vehicle Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1. Vehicle Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Passenger Cars
13.1.2.Commercial Vehicles
13.2.  Component  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Camera Unit
13.2.2.LiDAR
13.2.3.Radar Sensor Ultra Sounding
13.2.4.Infrared Sensor
13.3.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Transportations
13.3.2.Defence
13.4.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.AB Volvo
14.2.2.Bayerische Motoren Werke AG
14.2.3.Ford Motor Company
14.2.4.General Motors
14.2.5.Hyundai Motor Group
14.2.6.Mercedes-Benz AG
14.2.7.Renault SA
14.2.8.Tesla, Inc
14.2.9.Toyota Motor Corporation
14.2.10.Volkswagen Group
15. Research Methodology 
16. Appendix and Abbreviations 

Key Market Players

  • AB Volvo
  • Bayerische Motoren Werke AG
  • Ford Motor Company
  • General Motors
  • Hyundai Motor Group
  • Mercedes-Benz AG
  • Renault SA
  • Tesla, Inc
  • Toyota Motor Corporation
  • Volkswagen Group

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