The autonomous vehicle global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Autonomous Vehicle Market, 2024 report by The Business Research Company offers
comprehensive insights into the current state of the market and highlights
future growth opportunities.
Market Size -
The autonomous vehicle market size has grown exponentially in recent years. It
will grow from $54.60 billion in 2023 to $73.53 billion in 2024 at a compound
annual growth rate (CAGR) of 34.7%. The growth in the historic period can be
attributed to rising aging populations, increasing consumer acceptance,
increasing geriatric population, growth in delivery demands, and growing
environmental awareness.
The autonomous vehicle market size is expected to see exponential growth in the
next few years. It will grow to $221.32 billion in 2028 at a compound annual
growth rate (CAGR) of 31.7%. The growth in the forecast period can be
attributed to growing demand for safer and more efficient transportation
solutions, increasing investments in autonomous vehicle research and
development, rising urbanization, growing demand for energy-efficient vehicles,
and increasing demand for autonomous vehicles. Major trends in the forecast
period include rising focus on maintaining safety and efficiency, technological
advancements, rise of ride-sharing platforms, improved mobility for elderly and
disabled, and rapid development of autonomous vehicle technology.
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Scope Of Autonomous Vehicle Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Autonomous Vehicle Market Overview
Market Drivers -
The growing demand for energy-efficient vehicles is expected to propel the
growth of the autonomous vehicle market going forward. Energy-efficient
vehicles are designed to use less energy to perform the same tasks as their
non-efficient counterparts. As governments worldwide intensify efforts to
combat climate change and reduce greenhouse gas emissions, autonomous vehicles
are predicted to reduce energy consumption. The development of connected and
autonomous vehicles is being carried out with a focus on minimizing fuel and
energy consumption, and energy-efficient vehicles play a crucial role in
shaping the success of the autonomous vehicle market. For instance, according
to the International Energy Agency, a France-based intergovernmental organization,
in 2022, fuel cell electric vehicles (FCEVs) increased by 40% compared to 2021,
reaching over 72,000 vehicles globally. Therefore, the rise in demand for
energy-efficient vehicles is driving the growth of the autonomous vehicle
market.
Market Trends -
Major companies operating in the autonomous vehicle market are developing
innovative technologies, such as autonomous driving technology, to enhance
their customer experiences in the market. Autonomous driving technology refers
to the capability of a vehicle to sense its environment and operate without
human involvement. For instance, in March 2021, Honda Motor Co. Ltd., a
Japan-based automobile company that manufactures automobiles, motorcycles, and
battery-powered equipment, launched the world's first level 3 self-driving car
equipped with a system that can automatically accelerate, brake, and steer
while monitoring its surroundings using data from high-definition mapping and
other sensors. The system can engage at speeds below 30 km per hour and remain operational
until the speed reaches 50 km per hour. This car can perform various driving
activities without the constant involvement of a human driver.
The autonomous vehicle market covered in this report is segmented –
1) By Level of Automation: Driver Assistance, Partial Automation, Conditional
Automation, High Automation, Full Automation
2) By Component: Hardware, Software, Service
3) By Application: Transportation and Logistics, Civil, Defense, Other
Applications
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Regional Insights -
North America was the largest region in the autonomous vehicle market in 2023.
Asia-Pacific is expected to be the fastest-growing region in the forecast
period. The regions covered in the autonomous vehicle market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
Key Companies -
Major companies operating in the autonomous vehicle market are Volkswagen AG,
Google LLC, Toyota Motor Corporation, Ford Motor Company, General Motors
Company, Bayerische Motoren Werke AG, Honda Motor Co. Ltd., The Hyundai Motor
Group, Tesla Inc., Nissan Motor Co. Ltd., Audi AG, Intel Corporation, AB Volvo,
Groupe Renault, Denso Corporation, Mercedes-Benz Group AG, Uber Technologies
Inc., NVIDIA Corporation, Baidu Inc., Waymo LLC, WeRide Corporation, Aurora
Innovation Inc., Cruise LLC, AutoX Inc., Oxbotica Ltd.
Table of Contents
1. Executive Summary
2. Autonomous Vehicle Market Report Structure
3. Autonomous Vehicle Market Trends And Strategies
4. Autonomous Vehicle Market – Macro Economic Scenario
5. Autonomous Vehicle Market Size And Growth
…..
27. Autonomous Vehicle Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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