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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Autonomous Car Market Share by Automation
Level 3 automation accounts for a significant share of the market due to their advanced decision making and environment and threat detection capabilities, while also supporting manual takeover as needed. Level 3, also known as conditional driving automation, employs various artificial intelligence tools and driver assistance systems that aid in altering the path of the vehicle depending upon driving situation and traffic around the vehicle. Incorporation of traffic jam assistance technology in level 3 automotive vehicles are also expected to boost the demand for level 3 automation.
Autonomous Vehicle Market Share by Region
On the basis of region, North America accounts for a major share of the autonomous vehicle market owing to the growing popularity of driverless cars in the region. Launch of new products by key players in the region with enhanced features to improve the quality of the drive along with increased safety features are also aiding the growth of the regional market. According to the, growing initiatives taken by the governments in North America for autonomous vehicles are also fuelling the growth of the market in the region. Advancements in automated transportation technologies due to increasing research and development activities are further propelling autonomous vehicle market growth in North America.
Autonomous Vehicles Market Report Snapshots
Autonomous Vehicles Market Size
Autonomous Vehicle Market Analysis
Autonomous Vehicles Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market size for autonomous vehicles reached a value of approximately USD 119.14 billion in 2023.
The market for autonomous vehicles is expected to grow at a CAGR of 27.7% between 2024 and 2032.
The market for autonomous vehicles is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 1,075.95 billion by 2032.
According to major drivers of the market include increasing consumer preference for autonomous vehicles and rising advancements in automotive technology.
The key trends fuelling the growth of the market include rising requirement for efficient and safe modes of transportation, technological advancements, and increasing demand for luxury autonomous vehicles.
The significant applications in the market are civil, defence, transportation and logistics, and construction.
The objectives of autonomous vehicle include identification of acceleration to apply on a given path, avoidance of obstacles that come in the way, and general adherence to safe driving protocols.
The various vehicle types in the market are passenger car and commercial vehicle.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key players in the global autonomous vehicles market are Tesla, Inc., General Motors, Bayerische Motoren Werke AG, Toyota Motor Corporation, The Mercedes-Benz Group AG, Ford Motor Company, Zoox, Inc., Volkswagen AG, and Groupe Renault, among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124