Autonomous Vehicles Market: Insights, Forecast to 2030

Research Reports

Mar 31, 2021

The Global Autonomous Vehicle Market is estimated to be 0.5 million units in 2025 and is projected to grow at a CAGR of 68.94% to reach 6.9 million units by 2030. The global semi-autonomous vehicles market is estimated to be 10.5 million units in 2017 and is projected to grow at a CAGR of 21.36% to reach 27.7 million units by 2022.

The growth of this market is fueled by technological advancements in the field of connected cars and driver assistance features used in the vehicles. Connected cars are the stepping stones for autonomous vehicles as they can communicate with other vehicles and their surroundings and driver assistance features help the driver control the vehicle in case of emergencies.

Opportunities:

Autonomous Cars as A Mobility Service
Robotic Assistance

The ecosystem of the semi-autonomous and autonomous vehicles consists of manufacturers such as Volkswagen (Germany), Daimler (Germany), Nissan Motor (Japan), Robert Bosch (Germany), Continental AG (Germany), Google (US), Cisco Systems (US), Tesla (US), and Visteon (US) and suppliers such as Continental (Germany), Robert Bosch (Germany), Delphi Automotive (UK), Denso (Japan), and Valeo (France).

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The North American region is estimated to dominate the semi-autonomous vehicles market, in terms of volume, in 2017, followed by Europe and the Asia Pacific as it comprises some of the technologically advanced countries in the world, including the US and Canada. Semi-autonomous vehicles volumes have increased in recent years, with OEMs catering not only to the domestic demand but also to the overseas demand. Moreover, in 2025 the region is likely to lead the autonomous vehicles market in terms of volume followed by Europe and the Asia Pacific, as key technology innovators such as Google, Microsoft, and Delphi automotive are significantly investing in and testing the technology to commercialize the same.

Level 2&3 automation is expected to grow at a faster CAGR than level 1 automation. It can be attributed to the growing need for highly secured personal cars and government norms in emerging economies. As level 2&3 semi-autonomous cars are having highly advanced driver assistance features that will add to increased safety and security of passengers. The demand is expected to increase in developing and developed countries such as the USA, Germany, China, and Japan, where key car manufacturers are located.

Autonomous vehicles

By component, the market has been segmented into Artificial Intelligence, radar, LIDAR, ultrasonic, and camera. The market for artificial intelligence is expected to be the largest for autonomous vehicles as it will be the brain of the autonomous vehicle. Its contribution will be highest as compared with other segments, whereas radar segment is expected to dominate the semi-autonomous vehicles market.

By fuel type (conventional vehicle, hybrid vehicle, electric vehicle) and region (Asia pacific, Europe, North America and ROW). In terms of fuel type, the electric vehicle (EV) semi-autonomous and autonomous market is projected to grow at the highest CAGR during the forecast period, as these are anticipated to will propel the overall growth of semi-autonomous and autonomous vehicles market.

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Scope of the Report:

By Level of Automation –Semi-Autonomous
- Level 1
- Level 2&3
By ADAS Features
- Autonomous Vehicle Market
  - Adaptive Cruise Control (ACC)
  - Lane Assist (LA)
  - Intelligent Park Assist (APA)
  - Smart Park Assist (SPA)
  - Automatic Emergency Braking (AEB)
  - Blind Spot Detection (BSD)
  - Collision Warning System (CWS)
  - Cross-Traffic Alert (CTA)
  - Traffic Jam Assist (TJA)
By Components
- Semi-Autonomous & Autonomous
- Artificial Intelligence
- Radar
- Camera
- LIDAR
- Ultrasonic Sensor
By Fuel Type
- Semi-Autonomous
  - Conventional Vehicle
  - Hybrid Vehicle
  - Electric Vehicle
- Autonomous
  - Conventional
  - Hybrid Vehicle
  - Electric Vehicle
By Region
- North America
- Asia Pacific
- Europe
- RoW

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