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Global Autonomous Vehicles Market Share, Size, Analysis, Report, Forecast: By the Level of Automation: Level 1, Level 2, Level 3, Level 4, Level 5; By Application: Civil, Defence, Transportation and Logistics, Construction; By Drive Type: Semi-Autonomous, Fully Autonomous; By Vehicle Type; Regional Analysis; Competitive Landscape; 2023-2028
Global Autonomous Vehicles Market Outlook
The global autonomous vehicles market size reached a value of approximately USD 93.3 billion in 2022. The market is further expected to grow at a CAGR of 27.7% between 2023 and 2028, reaching a value of USD 427.9 billion by 2028.
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.
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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
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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.
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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 | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Level of Automation |
|
| Breakup by Application |
|
| Breakup by Drive Type |
|
| Breakup by Vehicle Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Autonomous Vehicle Market Analysis
8.1 Key Industry Highlights
8.2 Global Autonomous Vehicle Historical Market (2018-2022)
8.3 Global Autonomous Vehicle Market Forecast (2023-2028)
8.4 Global Autonomous Vehicle Market by the Level of Automation
8.4.1 Level 1
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Level 2
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Level 3
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Level 4
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Level 5
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.5 Global Autonomous Vehicle Market by Application
8.5.1 Civil
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Defence
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Transportation and Logistics
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Construction
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.6 Global Autonomous Vehicle Market by Drive Type
8.6.1 Semi-Autonomous
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Fully Autonomous
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Autonomous Vehicle Market by Vehicle Type
8.7.1 Passenger Car
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Commercial Vehicle
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.8 Global Autonomous Vehicle Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
9 North America Autonomous Vehicle Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Autonomous Vehicle Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Autonomous Vehicle Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Autonomous Vehicle Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Autonomous Vehicle Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Tesla, Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 General Motors
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Bayerische Motoren Werke AG
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Toyota Motor Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 The Mercedes-Benz Group AG
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Ford Motor Company
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Zoox, Inc.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Volkswagen AG
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Groupe Renault
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Autonomous Vehicle Market: Key Industry Highlights, 2018 and 2028
2. Global Autonomous Vehicle Historical Market: Breakup by Level of Automation (USD Million), 2018-2022
3. Global Autonomous Vehicle Market Forecast: Breakup by Level of Automation (USD Million), 2023-2028
4. Global Autonomous Vehicle Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Autonomous Vehicle Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Autonomous Vehicle Historical Market: Breakup by Drive Type (USD Million), 2018-2022
7. Global Autonomous Vehicle Market Forecast: Breakup by Drive Type (USD Million), 2023-2028
8. Global Autonomous Vehicle Historical Market: Breakup by Vehicle Type (USD Million), 2018-2022
9. Global Autonomous Vehicle Market Forecast: Breakup by Vehicle Type (USD Million), 2023-2028
10. Global Autonomous Vehicle Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global Autonomous Vehicle Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America Autonomous Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America Autonomous Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe Autonomous Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe Autonomous Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific Autonomous Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific Autonomous Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America Autonomous Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America Autonomous Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa Autonomous Vehicle Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa Autonomous Vehicle Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Global Autonomous Vehicle Market Structure
Key Questions Answered in the Report
The market size for autonomous vehicles reached a value of approximately USD 93.3 billion in 2022.
The market for autonomous vehicles is expected to grow at a CAGR of 27.7% between 2023 and 2028.
The market for autonomous vehicles is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 427.9 billion by 2028.
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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