Autonomous Car Market

Global autonomous car market is estimated to be valued at USD 146.80 Bn in 2024 and is expected to reach 1,558.09 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 40.1% from 2024 to 2031.

Report Description:

Global autonomous car market has been witnessing tremendous growth over the past few years due to advancements in sensor technology, automotive artificial intelligence and connectivity. Major automakers as well as tech companies have significantly ramped up their investments in research and development of self-driving vehicles. the surroundings in real time which enables them to make safer decisions much faster than any human. The transition to autonomous vehicles is expected to massively disrupt the automotive industry and transform mobility globally. As connectivity and automation in vehicles increases, it will not only enhance safety but also provide consumers with an immersive in-vehicle experience.

Market Dynamics:

Global autonomous car market growth is driven by several factors such as government initiatives for developing autonomous infrastructure, rising demand for autonomous electric vehicles, development of 5G connectivity for vehicle-to-everything applications and focus on reducing road accidents. However, high R&D costs, technological challenges around sensor fusion, cybersecurity threats and lack of recommended safety standards hampers the market growth. Developing unified international regulations for testing and commercial deployment of autonomous vehicles presents a major opportunity in the near future. As more entities participate in driverless vehicle development, collaborations between automakers, technology firms and governments are expected to accelerate innovation in this space.

Key features of the study:

• This report provides in-depth analysis of the global autonomous car market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global autonomous car market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include BMW AG, Audi AG, Ford Motor Company, Daimler AG, Google LLC, General Motors Company, Nissan Motor Company, Honda Motor Co., Ltd., Toyota Motor Corporation..
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• Global autonomous car market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global autonomous car market.

Detailed Segmentation

• By Application
  • Defense
  • Transportation
• By Level of Automation
  • Level 1
  • Level 2
  • Level 3
  • Level 4
  • Level 5
• By Propulsion Type
  • Semi-autonomous
  • Fully Autonomous
• By Vehicle Type
  • Passenger Car
  • Commercial Vehicle
• By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Key Players Insights
  • BMW AG
  • Audi AG
  • Ford Motor Company
  • Daimler AG
  • Google LLC
  • General Motors Company
  • Nissan Motor Company
  • Honda Motor Co., Ltd.
  • Toyota Motor Corporation
  • Tesla
  • Volvo Car Corporation
  • Uber Technologies, Inc.
  • Volkswagen AG