Global Autonomous Car Market: Snapshot
Owing to the increasing number of accidents taking place every year, the global market for autonomous cars is anticipated to emerge with huge popularity in the coming years. There is rise in awareness concerning the beneficiaries that autonomous cars offer to its consumers like mobility enhancement and this is further expected to accelerate the demand for the autonomous cars in the years to come.
Autonomous cars are likely to attract lot of potential consumers in the market owing to the constant upgrade and innovation that the automobile industry introduces every time. Besides, the increasing number of car accidents have also fuelled growth as initiatives are being taken to protect streets as well as cars from any hazardous accidents. Moreover, due to technological advancement, autonomous cars are likely to save more than thousands of lives every year. Thus, the sale is anticipated to increase at a faster growth rate.
Another important factor anticipated to propel growth in the autonomous car market is the introduction of sensors in cars and the seamless connectivity that the autonomous cars offer. This will enable two or more cars to run together closely, without misjudging the speed, acceleration and torque. The congestion will also be reduced with less traffic on the road and more cars will be able to run smoothly without any inconvenience.
However, factors like lack of clarification of traffic rules and also the rules imposed by the government of the particular region may cause confusion and therefore may act as a hindrance to the growth and development of the global autonomous car market.
Nevertheless, the increasing awareness among end users regarding the advantages that autonomous cars offer may attract more consumers and thus, drive the global autonomous car market in the years to come.
The global autonomous car market is presumed to reach 0.60 mn units by 2025. The CAGR growth of the market is expected to be 47.50% within the forecast period of 2025 to 2035.
Level 3 Autonomous Cars Contributing More Revenue Owing to Rapid Proliferation Of Cars
Based on segmentation by level of automation, the global autonomous car market is categorized into level 5. Level 4, level 3, level 2 and level 1. Among these, the segmentation with level 3 autonomous cars are expected to be witnessing the most prominent demand around the world during the forecast period. This is because of the uptake of advanced autonomous driving technologies and rapid proliferation of the cars that the market demand for level 3 cars is likely to be more from specific regions. The other levels are likely to show a sluggish rate of growth in the years to come.
Asia Pacific to Witness Faster Growth with Information and Communication Development
From a geographical perspective, the global market is categorized into the regions of Middle East and Africa, South America, Europe, North America and Asia Pacific. The region anticipated to contribute larger shares is North America. This is because of the fact that North America relatively adopts technological advancements and new launches faster than other regions. The rate of growth in the North American Region is faster as compared to other regions due to the presence of developed nations like Canada and U.S.
Asia Pacific on the other hand is foreseen to witness a health rise regarding the demand for autonomous cars in the market. The demand for Level 3 automated cars in the Asia Pacific region is anticipated to draw a large share of revenue. This is because of the imminent development in the communication and information infrastructure in Japan, Singapore and China.
Some of the leading players in the global autonomous car market are Toyota Motor Corporation, Ford Motor Co., The Volvo Group, Nissan Motor Co. Ltd., and Uber Technologies Inc.
Global Autonomous Car Market: Overview
This report on the global autonomous car market provides analysis for the period 2025–2035, wherein 2025 to 2035 is the forecast period. The report covers market dynamics including drivers, restraints opportunities, and trends expected to influence the global autonomous car market growth during the said period. Technologies that are playing a major role in driving the global autonomous car market have also been covered in the study. The study provides a comprehensive analysis on market growth throughout the above forecast period in terms of Volume estimates (in Mn Units), across different geographies.
The report further includes key developments in the autonomous car market from 2009 onwards. Porter Five Force analysis is also included in the report. The report also covers segment wise comparison matrix, market attractiveness analysis and market share analysis for all regions covered in the scope of study.
Comparison matrix includes segment growth matrix, 2025 - 2035 (%), segment volume share contribution, 2025 - 2035 (%), and segment compounded growth matrix (CAGR %). Market attractiveness identifies and compares segments market attractiveness on the basis of CAGR and market share index.
Global Autonomous Car Market: Segmentation
The autonomous car market has been segmented on the basis of level of automation and geography. Based on level of automation, the market has been further classified into Level 1, Level 2, Level 3, Level 4 and Level 5. In Level 1 autonomous cars, the driver is in full control of the vehicle. Intelligent features add a layer of comfort and safety like cruise control mode. Such type of autonomous cars require human driver to carry on all critical functions and monitor driving environment.
Cars with Level 2 automation provide additional automation compared to Level 1 cars. Automation of at least two control functions are provided in such vehicles; for example, automated lane changing. The driver is still required to monitor driving environment and be ready to take control of the vehicle at a short notice. In Level 3 autonomous cars, the driver can transfer the control of safety critical functions to car in certain weather or traffic conditions. The driver is not required to monitor the driving environment, but can be asked by the car to take control. The Level 4 autonomous cars do not require human inputs to drive. The car can maneuver itself in a variety of situations. In Level 5 autonomous cars, the driver does not need to be present in the car.
Geographically, the report classifies the global autonomous car market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America; the regions are analyzed in terms of units. Furthermore, region wise prominent countries covered in the report include the following - the U.S, Canada, Germany, France, the U.K., China, Japan, UAE, Saudi Arabia, Brazil and Argentina.
Global Autonomous Car Market: Competitive Outlook
The report also includes competitive landscape which include competition matrix, market share analysis of major players in the global autonomous car market based on their projected volume share, and business profiling of major players. The Competition Matrix benchmarks leading players on the basis of their capabilities and potential to grow. Factors including market position, offerings and R&D focus are attributed to company’s capabilities. Factors including top line growth, market share, segment growth, infrastructure facilities and future outlook are attributed to company’s potential to grow. This section also identifies and includes various recent developments carried out by the leading players.
Company profiling includes company overview, major business strategies adopted, SWOT analysis and R&D Investments. The key players profiled in the global autonomous car market include Audi AG, Bayerische Motoren Werke AG, Ford Motor Company, General Motors Company, Nissan Motor Company Ltd., Tesla Motors, The Volvo Group, Toyota Motor Corporation, Uber Technologies Inc. and Waymo LLC.
The global autonomous car market is segmented as below:
Global Autonomous Car Market, By Level of Automation
- Level 1
- Level 2
- Level 3
- Level 4
- Level 5
Global Autonomous Car Market, By Geography
- North America
- The U.S.
- Rest of North America
- The U.K
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of APAC
- Middle East and Africa (MEA)
- Saudi Arabia
- Rest of MEA
- South America
- Rest of South America