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Report Overview

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

Global Autonomous Vehicles Market Outlook

The global autonomous vehicles market size reached a value of approximately USD 119.14 billion in 2024. The market is further expected to grow at a CAGR of 27.7% between 2025 and 2034, reaching a value of USD 1,075.95 billion by 2034.

autonomous vehicle market

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Global Autonomous Vehicles Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2024
Forecast Period USD Billion 2025-2034
Market Size 2024 USD Billion 119.14
Market Size 2034 USD Billion 1,075.95
CAGR 2018-2024 Percentage XX%
CAGR 2025-2034 Percentage 27.7%
CAGR 2025-2034 - Market by Region Asia Pacific 31.9%
CAGR 2025-2034 - Market by Country India 33.5%
CAGR 2025-2034 - Market by Country China 30.6%
CAGR 2025-2034 - Market by Level of Automation Level 3 31.3%
CAGR 2025-2034 - Market by Vehicle Type Passenger Car 30.5%
Market Share by Country 2023 Japan 4.3%

Key Trends in the Market

Autonomous vehicles, also known as driverless vehicles, are vehicles that can operate without any human intervention. Sensors and other devices aid in detecting and responding to external surroundings and conditions to avoid accidents. Autonomous vehicles are considered to have superior safety features as compared to human-driven vehicles as they minimise fatigue and human errors.

  • Key autonomous vehicle market trends include rising requirement for efficient and safe modes of transportation. With growing number of accidents every year due to human errors and rash driving, the need for safe and reliable vehicles with advanced safety and danger detecting features is increasing.
  • Technological advancements including internet of things, machine learning, and artificial intelligence robotics are supporting the autonomous vehicles market growth. Increased application of radio detection and ranging sensing technology along with light detection and ranging sensing technology is also aiding the market.
  • Rising disposable incomes have increased the demand for luxury vehicles, this in turn is propelling the growth of the autonomous luxury vehicle market across the globe. Autonomous luxury vehicles increase the satisfaction level of consumers by providing enhanced safety, mobility, privacy, and comfort in the vehicle without need of a separate driver.
  • Major developments in mobility as a service and the accelerating preference of consumers for technologically advanced products is expected to boost the autonomous vehicle market size over the forecast period. Growing application of advanced driver assistance systems and adoption of autonomous ride sharing technology is also fuelling the expansion of the market.

Autonomous Vehicle Market Analysis

On the basis of level of automation, the market is segregated into level 1, level 2, level 3, level 4, and level 5. Based on application, the market is classified into civil, defence, transportation and logistics, and construction. On the basis of drive type, the market is bifurcated into semi-autonomous and fully autonomous. Based on vehicle type, the market is segregated into passenger car and commercial vehicle. the regional markets for autonomous vehicles are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global autonomous vehicle market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

  • Tesla, Inc.
  • General Motors
  • Bayerische Motoren Werke AG
  • Toyota Motor Corporation
  • The Mercedes-Benz Group AG
  • Ford Motor Company
  • Zoox, Inc.
  • Volkswagen AG
  • Groupe Renault
  • Others

autonomous vehicle market by segments

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Autonomous Car Market Share by Automation

Level 3 automation accounts for a significant share of the market due to their advanced decision making and environment and threat detection capabilities, while also supporting manual takeover as needed. Level 3, also known as conditional driving automation, employs various artificial intelligence tools and driver assistance systems that aid in altering the path of the vehicle depending upon driving situation and traffic around the vehicle. Incorporation of traffic jam assistance technology in level 3 automotive vehicles are also expected to boost the demand for level 3 automation.

Autonomous Vehicle Market Share by Region

On the basis of region, North America accounts for a major share of the autonomous vehicle market owing to the growing popularity of driverless cars in the region. Launch of new products by key players in the region with enhanced features to improve the quality of the drive along with increased safety features are also aiding the growth of the regional market. According to the, growing initiatives taken by the governments in North America for autonomous vehicles are also fuelling the growth of the market in the region. Advancements in automated transportation technologies due to increasing research and development activities are further propelling autonomous vehicle market growth in North America.

CAGR 2025-2034 - Market by Country
India 33.5%
China 30.6%
UK 25.3%
USA 24.7%
Germany 22.8%
Canada XX%
France XX%
Italy XX%
Japan 19.1%
Australia XX%
Saudi Arabia XX%
Brazil XX%
Mexico XX%

Competitive Landscape

Tesla, Inc. is a multinational automotive company that was founded in 2003 and is based in Texas, United States. Their mission is to expedite the adoption of sustainable energy in order to reduce the reliance on fossil fuels and achieve a zero-emission future. Tesla manufactures a range of popular electric cars and also offers solar roofs, solar panels, power walls, and insurance.

General Motors is an automotive manufacturing company that was established in 1908 and is headquartered in Michigan, United States. One of the largest automakers across the globe, General Motors focuses on electrification, vehicle safety, and social impact, with a vision for autonomous vehicles. Some of the major brands of General Motors include Buick, Cadillac, Chevrolet, and GMC.

Bayerische Motoren Werke AG is a leading luxury vehicle company that was founded in 1916 and is based in Munich, Germany. With over 30 production sites, the company has a sales network spanning over 140 countries. Apart from manufacturing motorcycles and automobiles, they also provide premium mobility and financial services.

Other market players include Toyota Motor Corporation, The Mercedes-Benz Group AG, Ford Motor Company, Zoox, Inc., Volkswagen AG, and Groupe Renault, among others.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Level of Automation
  • Application
  • Drive Type
  • Vehicle Type
  • Region
Breakup by Level of Automation
  • Level 1
  • Level 2
  • Level 3
  • Level 4
  • Level 5
Breakup by Application
  • Civil
  • Defence
  • Transportation and Logistics
  • Construction
Breakup by Drive Type
  • Semi-Autonomous
  • Fully Autonomous
Breakup by Vehicle Type
  • Passenger Car
  • Commercial Vehicle
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis 
  • Porter's Five Forces Analysis 
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Tesla, Inc.
  • General Motors
  • Bayerische Motoren Werke AG
  • Toyota Motor Corporation
  • The Mercedes-Benz Group AG
  • Ford Motor Company
  • Zoox, Inc.
  • Volkswagen AG
  • Groupe Renault
  • Others

Autonomous Vehicles Market Report Snapshots

Autonomous Vehicles Market Size

Autonomous Vehicle Market Analysis

Autonomous Vehicles Market Share

Autonomous Vehicles Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market size for autonomous vehicles reached a value of approximately USD 119.14 billion in 2024.

The market for autonomous vehicles is expected to grow at a CAGR of 27.7% between 2025 and 2034.

The market for autonomous vehicles is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach USD 1,075.95 billion by 2034.

According to major drivers of the market include increasing consumer preference for autonomous vehicles and rising advancements in automotive technology.

The key trends fuelling the growth of the market include rising requirement for efficient and safe modes of transportation, technological advancements, and increasing demand for luxury autonomous vehicles.

The significant applications in the market are civil, defence, transportation and logistics, and construction.

The objectives of autonomous vehicle include identification of acceleration to apply on a given path, avoidance of obstacles that come in the way, and general adherence to safe driving protocols.

The various vehicle types in the market are passenger car and commercial vehicle.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The key players in the global autonomous vehicles market are Tesla, Inc., General Motors, Bayerische Motoren Werke AG, Toyota Motor Corporation, The Mercedes-Benz Group AG, Ford Motor Company, Zoox, Inc., Volkswagen AG, and Groupe Renault, among others.

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