Updated On May 15, 2024

By SaraNextGen

Autonomous Vehicles Market by Regions, Companies, Forecast To 2027

Autonomous Vehicles Market is expected to be USD 325.9 Billion by 2030. Global Forecast by Driverless Car Levels (L3, L4, L5), Hardware, Software, Regions, Company Analysis.

• Driverless cars are also known as Autonomous Vehicles, Self- driving cars, robotics cars. In the upcoming year, the automated vehicle will change the fundamentals of transportation. Technological advancement in vehicles will avoid the risk of accidents, energy consumption, insurance cost and environmental effect for avoiding traffic jams to a great extent. According to this report, Global Autonomous Vehicles Market is expected to be USD 325.9 Billion by the end of the year 2030.

• Self-driving cars are an automated car that will drive like any traditional cars. However, the significant difference will be autonomous vehicles are driven by digital technology without any human interference. Driverless assistance systems use AI technology. Self–driving car work relies on a combination of different technologies such as RADAR (Radio Detection and Ranging), LiDAR (Light Detection and Ranging), cameras and V2X (vehicle-to-everything) communications. Each of these hardware components has its strength and limitations. According to Renub Research, Worldwide Driverless Cars Market will be USD 10.1 Billion this year 2021.

• Google and Apple are some big company working in the driverless car domain industry with advance software. In 2016, Google named its self-driving car as Waymo. Along with the camera, LiDAR, and radar sensor, Google car has a microphone to detect siren from emergency vehicles. In 2019, apple acquired self–driving startup Drive.ai, which was once, valued at USD 200 Million in 2017.

• Developed countries say the United States, Europe will capture more share in the global self-driving car market. These countries spending on digital infrastructure will further boost the driverless car market over time. Self Driving Cars' future has a very bright, as we expect it to grow with a staggering CAGR of 41.57% from 2021 to 2030.

• Based on the Autonomous Car Level, we have divided the self-driving car into Level 3, Level 4 and Level 5.

• • Level 2 and Level 3 is partial and conditional autonomous. It has features like collision detection, lane departure warning, parking assistance and adaptive cruise control etc.

• • Level 4 is High Automation. This type of vehicles will be capable of navigation, accelerating, braking, and monitoring the vehicle and roadway. It also responds to events, such as when to use signals, take a turn and change lanes.

• • Level 5 Full Automation depends on no driver involvement. This level of cars will require absolutely no human interference at any point in time. This car will not need a steering wheel, brakes, and accelerator etc. All essential functions like driving conditions, traffic jams, changing lanes will be controlled by driverless cars.

• Impact of COVID-19

• The Covid-19 pandemic has halted the overall performance of the automotive industry. Global company’s strategy to halt progression towards new technology and investment plan to safeguard the cost will further hamper the mobility solution say autonomous vehicles and economic slowdown across the globe would steadily halt the growth of this market.

• Renub Research report titled "Autonomous Vehicles Market Global Forecast by Driverless Car Levels (L3, L4, L5) Hardware (Radar, LIDAR, Actuators, Cameras, Embedded Modem, Passive Components, Embedded Controls Hardware, Other Electronics & Architecture, Ultrasonic Sensors, Odometry Sensors, Mapping Hardware, V2X Hardware, HMI Hardware) Software (V2X Software, Mapping Software, Embedded Controls Software, HMI Software, Data Security Software) Regions (Europe, America, Middle East & Africa, Asia Pacific), Companies (Apple, Google, Mercedes–Benz)" provides a detailed and comprehensive insight of the Global Driverless Car Industry.

• Autonomous Vehicles Market has been studied from 4 Categories in this Report

• 1. Market

• 2. Volume

• 3. Regions

• 4. Technology

• Numbers – Global Self Driving Car

• • Semi-Autonomous Driving

• o (Level 3 Cars)

• • Self Driving Car

• o Level 4: High Automation

• o Level 5: Full Automation

• Region – Market & Volume breakup from 3 viewpoints

• • America

• • Europe, the Middle East and Africa

• • Asia Pacific

• Technology – Driverless Cars Technology Market has been divided into two Broad Categories

• • Hardware Components

• • Software Components

• Hardware Components – Market breakup from 13 viewpoints

• 1. LIDAR

• 2. Radar

• 3. Cameras

• 4. Actuators

• 5. Embedded Modem

• 6. Embedded Controls Hardware

• 7. Passive Components

• 8. Other Electronics & Architecture

• 9. Odometry Sensors

• 10. Ultrasonic Sensors

• 11. V2X Hardware

• 12. Mapping Hardware

• 13. HMI Hardware

• Software Components – Market breakup from 5 viewpoints

• 1. V2X Software

• 2. Embedded Controls Software

• 3. Mapping Software

• 4. Data Security Software

• 5. HMI Software

• All companies have been covered from 2 viewpoints

• Overview

• Recent Developments

• Company Analysis

• Google

• Apple

• Mercedes–Benz