PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1473799
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1473799
Autonomous Vehicle Market Size - By Level of Autonomy (Level 1, Level 2, Level 3, Level 4, Level 5), By Vehicle (Passenger, Commercial), By Fuel (ICE, Electric, Hybrid), By Application (Personal, Public, Goods, Industrial) & Global Forecast, 2024 - 2032
Autonomous vehicle market size is projected to witness more than 13.5% CAGR from 2024 to 2032, driven by technological advancements, particularly in AI, sensor systems, and connectivity. For example, in June 2023, Bengaluru's Minus Zero, an AI startup, revealed India's inaugural autonomous vehicle, zPod. This fully electric prototype, reliant on a camera-sensor suite, navigates various environmental and geographical challenges. Such technological innovations are leading to enhanced vehicle safety, efficiency, and convenience, thereby boosting consumer interest and adoption. Additionally, the growing concerns about road safety and the need for sustainable transportation solutions are fueling the demand for autonomous vehicles.
Lately, there has been shifting consumer preference towards mobility-as-a-service (MaaS) and shared mobility models. The rise of ride-hailing services and the concept of self-driving fleets are offering the potential for cost-effective, convenient transportation solutions, particularly in urban areas. Moreover, the potential for autonomous vehicles to improve accessibility for elderly and disabled individuals, as well as reduce congestion and parking challenges is driving the interest for autonomous vehicles from both consumers and policymakers.
The overall industry is divided on the basis of level of autonomy, vehicle, fuel, application and region.
By vehicle, the autonomous vehicle industry from the commercial segment is anticipated to observe a significant CAGR during 2024 and 2032. In industries, such as logistics, delivery services, and transportation, the integration of autonomous vehicles offers the potential for increased efficiency and cost savings. Autonomous vehicles help optimize route planning, minimize downtime, and reduce labor costs associated with human drivers. Furthermore, in agriculture and mining, autonomous vehicles enable precise and autonomous operations, leading to higher productivity and reduced operational risks.
In terms of application, the autonomous vehicle market from the industrial segment is set to witness notable growth in the forecast period, favored by unique demands and applications. The manufacturing, warehousing, and construction sectors are increasingly embracing autonomous vehicles to streamline operations, enhance safety, and boost productivity. Autonomous vehicles also offer the potential for efficient material handling, inventory management, and logistics within industrial settings for reduced costs and improved workflow optimization.
Europe autonomous vehicle industry will showcase impressive growth over 2024-2032, attributed to stringent safety regulations and a strong focus on reducing road accidents. The robust automotive industry, coupled with significant investments in R&D activities are fostering innovations and accelerating the development of autonomous vehicle technology. Moreover, increasing urbanization and the need for sustainable transportation solutions will drive the regional demand for autonomous vehicles, particularly in densely populated cities.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculations
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360 degree synopsis, 2018-2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Supplier Landscape
- 3.2.1 Raw material providers
- 3.2.2 Component providers
- 3.2.3 Manufacturers
- 3.2.4 Technology providers
- 3.2.5 Distributors
- 3.2.6 End-user
- 3.3 Profit margin analysis
- 3.4 Technology & innovation landscape
- 3.5 Patent analysis
- 3.6 Key news & initiatives
- 3.7 Regulatory landscape
- 3.8 Impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Technological advancements in the autonomous vehicle industry
- 3.8.1.2 Increasing focus towards safety and efficiency of vehicle
- 3.8.1.3 Introduction of new regulation and policies
- 3.8.1.4 Growing government investment in infrastructure development
- 3.8.2 Industry pitfalls & challenges
- 3.8.2.1 High development costs
- 3.8.2.2 Safety and security concerns
- 3.8.1 Growth drivers
- 3.9 Growth potential analysis
- 3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
- 3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Level of Autonomy, 2018-2032 ($Bn, Units)
- 5.1 Key trends
- 5.2 Level 1
- 5.3 Level 2
- 5.4 Level 3
- 5.5 Level 4
- 5.6 Level 5
Chapter 6 Market Estimates & Forecast, By Vehicle, 2018-2032 ($Bn, Units)
- 6.1 Key trends
- 6.2 Passenger
- 6.2.1 Sedan
- 6.2.2 SUV
- 6.2.3 Hatchback
- 6.3 Commercial
- 6.3.1 Truck
- 6.3.2 Bus
- 6.3.3 Van
Chapter 7 Market Estimates & Forecast, By Fuel, 2018-2032 ($Bn, Units)
- 7.1 Key trends
- 7.2 ICE
- 7.3 Electric
- 7.4 Hybrid
Chapter 8 Market Estimates & Forecast, By Application, 2018-2032 ($Bn, Units)
- 8.1 Key trends
- 8.2 Personal
- 8.3 Public
- 8.4 Goods
- 8.5 Industrial
- 8.6 Others
Chapter 9 Market Estimates & Forecast, By Region, 2018-2032 ($Bn, Units)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Netherlands
- 9.3.7 Russia
- 9.3.8 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 Australia
- 9.4.6 Southeast Asia
- 9.4.7 Rest of Asia Pacific
- 9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of Latin America
- 9.6 MEA
- 9.6.1 South Africa
- 9.6.2 Saudi Arabia
- 9.6.3 UAE
- 9.6.4 Rest of MEA
Chapter 10 Company Profiles
- 10.1 AB Volvo
- 10.2 Argo AI
- 10.3 Aurora Innovation Inc.
- 10.4 Baidu Inc.
- 10.5 BMW AG
- 10.6 Embark Trucks Inc.
- 10.7 Fiat Chrysler Automobiles
- 10.8 Ford Motor Company
- 10.9 General Motors Company
- 10.10 Honda Motor Company
- 10.11 Hyundai Motor Corporation
- 10.12 Jaguar Land Rover
- 10.13 Mercedes-Benz Group
- 10.14 Nissan Motor Co. Ltd.
- 10.15 Renault SA
- 10.16 Rivian Automotive, Inc.
- 10.17 Tesla Inc.
- 10.18 Toyota Motor Corporation
- 10.19 Volkswagen Group
- 10.20 Waymo LLC
