The global autonomous vehicle market is valued at US$53.23 billion in 2019, and market is projected to surpass US$555.27 billion by 2027, with registering a CAGR of 39.20% from 2019 to 2027.
Autonomous vehicles are designed to drive and travel various destinations without the intervention of a human driver. Autonomous vehicles can successfully navigate around obstacles, negotiate between different types of terrains, and reach a predetermined destination without any human intervention. The North America region is estimated to dominate the autonomous vehicles market, in terms of volume, in 2017, followed by Europe and Asia Pacific as it comprises some of the technologically advanced countries in the world, including the US and Canada.
Autonomous vehicle is also known as driverless vehicle or robotic vehicle. It is capable of sensing its surrounding and navigating without human intervention. Increase in the number road accidents due to error by humans offers lucrative opportunities to the autonomous vehicles manufacturers during the forecast period, as autonomous vehicles are comparatively safer than human-controlled vehicles. Autonomous vehicles also help in the reduction of carbon dioxide emission in the environment. They contribute to the revenue of various industries such as IT, technology, and electronics. Automobile manufacturers are focused on autonomous vehicles in order to meet the demand of customers, and also to secure their position in the market and improve their product portfolio. Autonomous vehicles can drive on their own without any human intervention, employing inbuilt software, sensors, and communication systems. The driving capability of autonomous vehicles differs based on the levels of automation employed. Rise in investment by automobile manufacturers, changes in needs and behavior of customers, and the environment-friendly features of autonomous vehicles are expected to promote the market during the forecast period.
The Autonomous Vehicles market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Autonomous Vehicles market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Autonomous Vehicles market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Autonomous Vehicles market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Autonomous Vehicles market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Autonomous Vehicles capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Autonomous Vehicles by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Autonomous Vehicles market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Autonomous Vehicles market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Autonomous Vehicles market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Autonomous Vehicles industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Autonomous Vehicles market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Autonomous Vehicles market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Autonomous Vehicles market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Autonomous Vehicles market. These factors have benefited the growth of the global market for Autonomous Vehicles. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Autonomous Vehicles. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Key players operating in the global autonomous vehicles market are Nissan Motor, Apple, Google, Ford Motor, Intel, Volvo, General Motors, Argus Cyber Security, Tesla Motors, Audi AG, BMW AG, and Mercedes-Benz.
The global autonomous vehicles market can be segmented based on application, component, technology, and region. In terms of application, the global autonomous vehicles market can be classified into public transportation, passenger vehicles, industrial fleets, construction, mining, and agriculture. Autonomous vehicles are already played important role in the selected application that features controlled environments such as agriculture, construction, and mining. Some of the benefits of automation in this field include saving in cost of labor and reduction of carbon dioxide emission in the environment through optimized driving. These factors are expected to boost the demand for autonomous vehicles during the forecast period. By component, the global autonomous vehicles market can be divided into long range RADAR system, LIDAR system, camera, short/medium range RADAR system, ultrasound, and GPS. Based on technology, the global autonomous vehicles market can be classified into automated park assist technology, adaptive cruise control technology, automated highway driving assistance, autonomous highway driving, and advance technology artificial intelligence. The advanced technology artificial intelligence segment is expected to play a key role in the global autonomous vehicles market during the forecast period. Automobile manufacturers and technical vendors are investing in artificial intelligence in order to gain competitive advantage in the autonomous vehicles market. Furthermore, vehicle sharing services such as car or taxi sharing are anticipated to reach an optimal adoption rate, as people are expected to use these services more frequently due to affordability and convenience. This, in turn, is projected to boost the demand for autonomous vehicles during the forecast period.
Geographically, the global autonomous vehicles market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among these, Western Europe constitutes the dominant share of the global autonomous vehicles market, due to the high adoption rate of such vehicles in the region. North America is the second leading market for autonomous vehicles, following Western Europe. China, India, and Japan are the major manufacturing countries of autonomous vehicles. Asia Pacific is forecasted to surpass Europe and North America in terms of demand for autonomous vehicles. Adoption of autonomous vehicles in the developing regions such as Latin America and Middle East & Africa is estimated to be lower than that in the other regions. However, the market for autonomous vehicles is expanding rapidly in the emerging countries. This is projected to boost the autonomous vehicles market in the near future, considering the significant advantages of autonomous vehicles over conventional vehicles, and impact on environment.
In this study, the years considered to estimate the market size of Autonomous Vehicles are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
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