[150+ Pages Report] As per the latest Research and survey report issued by Precedence Research, the global autonomous vehicle market was valued at around USD 94.43 billion in 2021 and is expected to register revenues worth USD 1808.44 billion by the end of 2030, growing at an exceptional CAGR of approximately 38.8% between 2022 and 2030.
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Autonomous Vehicle Market Growth Factors:
Autonomous vehicle was the most awaited technology in the field of automobiles 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 drive the market growth for autonomous vehicles.
The government of some regions such as Europe and North America also offers 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 in 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 autonomous vehicles may restrict the market growth in underdeveloped or developing nations.
Autonomous Vehicle Market Report Scope
|Market Size||USD 1808.44 Billion by 2030|
|Growth Rate||CAGR of 38.8% from 2021 to 2030|
|Largest Market||Asia Pacific|
|Fastest Growing Market||North America|
|Forecast Period||2022 to 2030|
|Segments Covered||Application Type, Region Type|
Autonomous Vehicle Market Report Highlights
- North America dominated the global autonomous vehicle market with significant revenue share in 2019 and projected to grow at an explicit growth rate during the forecast period. This is attributed to significant amendments made by the governing bodies in the traffic regulations to support the autonomous vehicle on public road.
- Europe predicted to encounter the most lucrative growth rate for autonomous car market in the coming years owing to shifting consumer preference towards automated product along with rising adoption of autonomous vehicles. For instance, in 2018, UK government announced a jurisdiction to permit autonomous vehicles on any public road without the requirement of extra insurance or permits.
- The Asia Pacific expected to flourish rapidly in the autonomous vehicles market during the analysis period owing to fast adoption of green mobility, as well as rising trend of mobility as a service in the region. China, India, Japan, and other ASEAN countries are significantly adopting the advanced mobility solution that helps government in their plan for reduced carbon emission and healthy environment in the near future.
- By application, the global autonomous vehicles market is dominated prominently by the transportation segment owing to rapid adoption of advanced vehicles for personal and commercial applications. Furthermore, government initiative for promoting shared mobility and battery powered vehicle adoption drives the growth of the segment. However, defense segment also seeks lucrative growth over the analysis period due to rising adoption of autonomous technology in defense vehicles.
The report has engulfed a chapter on the global electric vehicle market’s competitive landscape, which provides detailed analysis and insights on companies offering electric vehicles. Profiles of key companies, along with a strategic overview of their M&A and expansion plans across geographies, have been delivered in this chapter.
This chapter is priceless for report readers, as it enables them in gauging their growth potential in the market and implement key strategies for extending their market reach. This chapter offers key recommendations for both new and existing market participants, enabling them to emerge sustainably and profitably. Intelligence on the market players has been delivered on the basis of their product overview, SWOT analysis, key developments, key financials, and a company overview. Occupancy of these market participants has been tracked by the report and portrayed via an intensity map.
Read Also@ Commercial Vehicles Market to Witness Significant Growth by 2030
some of the prominent players in the autonomous vehicle market include:
- BMW AG
- Audi AG
- Ford Motor Company
- Daimler AG
- Google LLC
- General Motors Company
- Nissan Motor Company
- Honda Motor Co., Ltd.
- Toyota Motor Corporation
- Volvo Car Corporation
- Uber Technologies, Inc.
- Volkswagen AG
Autonomous Vehicle Market Segments
- Commercial transportation
- Industrial transportation
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region.
This section analyses region-wise revenue and volume for the forecast period of 2019 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global autonomous vehicle market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the autonomous vehicle market.
The report includes country-wise and region-wise market size for the period 2019-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2019-2030.
Why should you invest in this report?
If you are aiming to enter the global autonomous vehicle market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for autonomous vehicle are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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