NEW YORK, Nov. 14, 2023 - The autonomous vehicles market is estimated to grow by USD 319.41 billion from 2022 to 2027, growing at a CAGR of 38.45%. The autonomous vehicles market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer autonomous vehicles market are AB Volvo, Alphabet Inc., Amazon.com Inc., Baidu Inc., BMW AG, Continental AG, Ford Motor Co., General Motors Co, Honda Motor Co. Ltd, Hyundai Motor Co, Intel Corp., Mercedes Benz Group AG, Navistar International Corp., Renault SAS, Robert Bosch GmbH, Stellantis NV, Tesla Inc., Toyota Motor Corp., and Volkswagen AG. The report provides a full list of key companies, their strategies, and the latest developments. Download a Sample before buying
Company Offering:
AB Volvo - The company offers autonomous vehicles such as Volvo autonomous trucks.
Alphabet Inc. - The company offers autonomous vehicles through its brand Waymo.
Baidu Inc. - The company offers autonomous vehicles through its brand Apollo.
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By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa.
North America is estimated to account for 37% of the global market growth during the forecast period. In 2022, the US took the lead in the North American autonomous vehicles market, with Canada and Mexico also making notable contributions. The shift towards autonomous technology in the region is primarily propelled by the increasing demand for safety and convenience.
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Impactful driver- Automotive OEMs' emphasis on achieving autonomous vehicles
Key Trend - The trend of utilizing autonomous vehicles for cab and parcel delivery services
Major Challenges - High driver distraction with an increase in vehicle automation
Market Segmentation
The autonomous car market share growth by the transportation and logistics segment will be significant during the forecast period. The utilization of autonomous vehicles in logistics is poised for significant growth in the coming forecast period. Numerous manufacturers, autonomous technology developers, and system integrators have been actively assessing the commercial feasibility of fully autonomous buses for transportation and logistics purposes. Various operational models, including line-based transit and shuttle services, among others, are being explored for autonomous buses. The emergence of novel public transportation modes is anticipated to disrupt the traditional bus transit system, serving as a catalyst for the adoption of fully autonomous transportation vehicles. Initially, fully autonomous buses are likely to be deployed in the public transportation sector, primarily as mini-buses functioning as shuttles.
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Related Reports:
The Global Near Autonomous Passenger Car Market Size is estimated to grow by USD 294.81 billion between 2022 and 2027 at a CAGR of 38.23%.
The HD map for autonomous vehicles market is estimated to grow at a CAGR of 31.48% between 2022 and 2027. The size of the market is forecast to increase by USD 5,384.84 million.
Autonomous Vehicles Market Scope
Report Coverage
Details
Historic period
2017-2021
Growth momentum & CAGR
Accelerate at a CAGR of 38.45%
YoY growth 2022-2023 (%)
37.22
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Key countries
US, China, Japan, Germany, and France
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Geography
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About US
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