Global Autonomous Vehicle Market by Application (Defense, Transportation) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global demand for autonomous vehicles is expected to reach 6.7 million units by 2020. It is projected to grow at a CAGR (63.1%) between 2021 and 2030. Autonomous vehicles (AV), also called self-driving cars, are a major innovation in the automotive sector. They are a key innovation in the automotive industry and have a high growth potential.

Supportive regulations, government funding, as well as investment in digital infrastructure, are expected to have a positive impact on the self-driving vehicle market growth. There are many products and systems in the market that form the autonomous vehicle infrastructure.

Non-drivers and people with disabilities can use autonomous vehicles to enable mobility on their own. These vehicles allow travelers to travel more comfortably and with greater flexibility, including the ability to read, rest or work while they travel, increasing their efficiency. They also lower the cost of driving taxis and commercial vehicles. These vehicles will be adopted in large part due to their safety and crash risk reductions.

An autonomous vehicle is composed of multiple sensors such as LiDAR or RADAR systems that work simultaneously to perform operations without the assistance of drivers. These sensors aid in navigation by performing motion planning, situational analysis, and trajectory control. Increasing safety concerns and advances in automotive technology have resulted in autonomous vehicles being accepted by governments across the globe, including the U.S. and Japan. These factors will fuel the market growth for self-driving cars over the forecast period.

Numerous government agencies are taking different initiatives to introduce autonomous vehicles to their countries. In February 2018, for example, the European Union (EU) announced, along with ENSEMBLE consortium, and TNO, Netherlands organization for applied science research, the implementation of multi-brand truck platooning in Europe. Multi-brand truck platooning allows a single truck to join a convoy of other trucks. These initiatives will increase fuel economy, improve traffic capacity, and decrease CO2 omissions in the EU.

Application Insights

The market for autonomous vehicles is divided into two segments based on their application: transportation and defense. The transportation market is further divided into commercial and industrial applications. Due to the increasing number of initiatives in different regions such as North America, the defense sector will be the largest over the forecast period. In April 2019, for example, the U.S. Army announced the deployment of autonomous combat vehicles to aid soldiers in avoiding accidents caused by driving.

Due to increasing adoption of autonomous vehicles in transport, the transportation sector is expected to see significant growth over the next few years. Baidu, an Internet-related company, announced in December 2019 that it had obtained 40 licenses to allow the company to test driverless vehicles. The forecast period sees the industrial segment growing at a high rate of CAGR. This is due in part to technological advancements and increasing acceptance of autonomous cars by different governments around the world.

Regional Insights

The growth of mobility as a service is expected to give rise to the autonomous car market. North America will see significant growth due to changes in U.S. traffic regulations to allow autonomous vehicles to be placed on public roads. To make transportation completely autonomous, the regulation is gradually being adopted in all U.S. states. The National Highway Traffic Safety Administration (NHTSA), which is a U.S. traffic regulator, permitted self-driving car testing in many states including Nevada, California and Florida.

Europe will be a potential lucrative market for self-driving cars in the future, due to growing adoption of autonomous cars and increased consumer preference for technologically advanced goods. The U.K. Department of Transport established a jurisdiction in 2018 to allow autonomous vehicles to be operated on public roads without the need for additional insurance or permits. In 2018, the country also created the Centre for Connected and Autonomous Vehicles. The U.K. government has committed to autonomous vehicles being on the roads by 2021 and plans to make necessary changes to regulations to support development of these vehicles.

Market Share Insights & Key Companies

Audi AG, BMW AG, Daimler AG, Ford Motor Company, General Motors Company, Google LLC, Honda Motor Co., Ltd., Nissan Motor Company, Tesla, Toyota Motor Corporation, Uber Technologies, Inc., Volvo Car Corporation, and Volkswagen AG are some of the major players in this market.

To stay ahead of their competition, the market leaders in self-driving vehicles are involved in collaborative efforts and the development innovative solutions. In August 2017, BMW AG and Intel Corporation, Mobileye (a subsidiary of Intel Corporation) signed a memorandum to allow FCA to join them in developing an autonomous vehicle driving platform. This memorandum aims to combine the strengths, resources, and capabilities of all three companies in order to speed up the time to market, improve development efficiency, and improve the technology. These initiatives will likely significantly contribute to market growth.

Autonomous Vehicle Market Report Scope

The Report Covers the Following Segments:

This report predicts volume growth at both the country and global levels. It also provides analysis of industry trends and potential opportunities for each sub-segment between 2020 and 2030. Grand View Research has divided the global autonomous vehicle market report by application and region.

• Application Outlook (Volume and Thousand Units, 2020-2020)

  • Transport

    • Industrial

    • Commercial

  • Defense

• Regional Outlook (Volume of Thousand Units, 2020-2020)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Netherlands

    • Sweden

  • Asia Pacific

    • China

    • Japan

    • Singapore

    • Australia

  • South America

    • Brazil

  • Middle East and Africa

These are the most frequently asked questions about this report

b. Global autonomous vehicle market shipment was approximately 6.7 million units in 2020. It is expected to rise to 51.6 thousand units by 2021.

b. Global autonomous vehicle market will grow at a compound annual rate of 63.1% between 2021 and 2030, to reach 4,223.8 000 units by 2030.

b. North America was the dominant market for autonomous vehicles in 2020 with 46.5%. This can be attributed to changes in traffic regulations that allow autonomous cars to be placed on public roads.

b. b.

b. The market growth is driven by the rising demand for road safety, increased environmental impact from traditional vehicles, as well as increased energy savings through autonomous vehicles.

Up Market Research published a new report titled “Autonomous Vehicle Market research report which is segmented by Application (Defense, Transportation), By Players/Companies Audi AG; BMW AG; Daimler AG (Mercedes Benz); Ford Motor Company; General Motors; Google LLC; Honda Motor Corporation; Nissan Motor Company; Tesla, Inc; and Toyota Motor Corporation”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Autonomous Vehicle Market Report Segments:

The market is segmented by Application (Defense, Transportation).

Autonomous Vehicle Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Autonomous Vehicle Market

Overview of the regional outlook of the Autonomous Vehicle Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Autonomous Vehicle Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Autonomous Vehicle Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Defense

                2. Transportation

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Autonomous Vehicle Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Autonomous Vehicle Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.