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 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.
Study Period
2024 - 2030Base Year
2023CAGR
12.7%Largest Market
North AmericaFastest Growing Market
Asia pacific
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.
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 |
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By Component |
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By Application |
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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