
Autonomous Cars or Driverless Cars Market
Autonomous Cars or Driverless Cars Market Global Industry Assessment & Forecast
Segments Covered
By Type Semi-autonomous Vehicles, Fully-autonomous Vehicles
By Application Passenger Car, Commercial Vehicle
Snapshot
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2021 - 2028 |
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2016 - 2020 |
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22.31 Billion |
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65.20 Billion |
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19.32% |
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North America |
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Country/Region-specific Report
Go To Market Strategy
Region Specific Market Dynamics
Region Level Market Share
Import Export Analysis
Production Analysis
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Key Insights
The
global Autonomous Cars or Driverless Cars market was valued at USD 22.31 Billion in 2020 and is
projected to reach USD 65.20 Billion by 2028, growing at a CAGR of 19.32%%
from 2021 to 2028.

Years | Parameters |
---|---|
Historical Data (Actual Data) | 2016-2020 |
Base Year Data | 2020 |
Current Year Date | 2021 |
Projected year data | 2021-2026 |
Annual Market Size (2028) | 65.20 Billion |
Annual Market Size (2021) | |
CAGR (2021 - 2028) | 19.32%% |
Definition And Overview
An autonomous vehicle is a self-driving that is able to operate itself and perform necessary functions without any human intervention, through ability to sense its surroundings and the advanced driver assistance systems are intelligent systems that are built inside the vehicle to assist the main driver in a numerous ways. The autonomous vehicle uses various technologies like artificial intelligence (AI) software, light detection & ranging (LiDAR), and RADAR sensing technology, among others to function properly.
The global Autonomous Cars or Driverless Cars market is segmented based on by Type, Application, Regions, and Countries. This report provides an analysis of the global Autonomous Cars or Driverless Cars market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report covers exhaustive analysis on the global Autonomous Cars or Driverless Cars industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. The report provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed based on present and future trends. The research study provides complete assessment of the market on the basis of competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028.
COVID-19 Impact Analysis
COVID-19
pandemic led to government of numerous countries across the globe to impose stringent
lockdown measures during the primary stages. This led to numerous challenges owing
to the supply chain. However, the market witnessed steady growth over the later
stages as the governments lifted restrictions on construction activities. Impact
of COVID-19 on the market demand is considered while estimating the current and
forecast market size and growth trends for all the regions and countries. The
report provides a completely separate chapter for COVID-19 Impact Analysis.
This chapter includes: o Impact Assessment of COVID-19
Pandemic o Pre & Post COVID-19
Market Size o Qualitative analysis on the
short term & long-term impact of COVID-19 on the market
o
The
analysis provides foremost strategies adopted by competitors to minimize the
impact of the pandemic on their business activities and scope for future
developments.
Industry Analysis
The increasing adoption of ADAS owing to the advancement in technologies such as software algorithms, sensors, cameras, processors, and mapping has improved the applicability of ADAS in vehicles and is expected to fuel the growth of the autonomous car market in the years to come. ADAS assist drivers with the use of artificial intelligence and other technologies, thereby avoiding distractions occurred for the driver. In addition, rising concerns of the safety and security of vehicles and consumers to reduce the percentage of road fatalities, automotive manufacturers are incorporating ADAS in vehicles, thus fuelling the autonomous cars market growth.
The rising car sale across the globe is anticipated to augment the growth of the autonomous cars market during the forecast period. This is owing to the rapid urbanization, industrialization, rising disposable income of the consumers, and advancement of technologies. Furthermore, the constant upgradation and updates of various features associated to the system are anticipated to offer new avenues for the growth of the autonomous cars market in the upcoming years.
The high cost of components like sensors and other electronic components associated with these systems is anticipated to hamper the growth of the autonomous cars market. However, the present inclination towards using advanced technologies for offering better solutions and services to the consumers will surge the demand for global autonomous cars market during the forecast period.
Parameter | Details |
---|---|
Market Size Provided for Years | 2016-2028 |
Base Year | 2020 |
Historic Years | 2016-2020 |
Forecast Years | 2021-2028 |
Market Size Provided In Terms Of | Revenue & Volume |
Segments Covered | Type, Application |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Countries Covered | The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | Baidu Inc., Nissan Motor Company Ltd., Tesla Motors Inc., The Volvo Group, Apple Inc., Alphabet Inc. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
Product Analysis Preview
Type
Analysis: Preview On the basis of Type,
the market is segmented into Semi-autonomous Vehicles, Fully-autonomous Vehicles. Semi-autonomous Vehicles held the highest
share in the global Autonomous Cars or Driverless Cars
market and is projected to witness the same trend during the forecast
period. Companies in this
sector are opting to advanced technologies in their supply chain to cater the
end user requirements effectively. Application
Analysis: Preview
Based on Application,
the market is segmented into Passenger Car, Commercial Vehicle. Passenger Cars accounted
for the highest market share and is expected to grow at a significant CAGR from
2021 to 2028.
Global Autonomous Cars or Driverless Cars Market: Type Segment Analysis
-
- Semi-autonomous Vehicles
- Fully-autonomous Vehicles
Global Autonomous Cars or Driverless Cars Market: Application Segment Analysis
-
- Passenger Car
- Commercial Vehicle
Regional Analysis Preview
Based
on region, the global Autonomous Cars or Driverless Cars market is segregated into North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa. North America
region led the market with the largest share in 2020. Some of the key countries
contributing to the surge in the market are the U.S., U.K., Germany, France,
China, India, Japan, and South Korea. Developing economies in the Asia Pacific
region such as China and India are expected to make notable contributions in
the growth over the coming years. Thus, it is expected that the Autonomous Cars or Driverless Cars market
is anticipated to rise over the forecast timespan.
Market Size, 2021 (USD Billion)
Global Autonomous Cars or Driverless Cars Market: Regional Analysis
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Competitive Landscape
The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Autonomous Cars or Driverless Cars market are Baidu Inc., Nissan Motor Company Ltd., Tesla Motors Inc., The Volvo Group, Apple Inc., Alphabet Inc.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.
Global Autonomous Cars or Driverless Cars Market: Key Highlights
- The global Autonomous Cars or Driverless Cars market was valued at USD 22.31 Billion in 2020
- The global Autonomous Cars or Driverless Cars Market is projected to reach USD 65.20 Billion by 2028
- North America held the highest share of the Autonomous Cars or Driverless Cars market in 2020
- Some of the major companies operating in the Autonomous Cars or Driverless Cars market are Baidu Inc., Nissan Motor Company Ltd., Tesla Motors Inc., The Volvo Group, Apple Inc., Alphabet Inc.
FAQ
Frequently Asked Question
What is the global demand for Autonomous Cars or Driverless Cars in terms of revenue?
-
The global Autonomous Cars or Driverless Cars valued at 22.31 Billion in 2020 and is expected to reach 65.20 Billion in 2028 growing at a CAGR of 19.32%%.
Which are the prominent players in the market?
-
The prominent players in the market are Baidu Inc., Nissan Motor Company Ltd., Tesla Motors Inc., The Volvo Group, Apple Inc., Alphabet Inc..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 19.32%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Autonomous Cars or Driverless Cars include
- The increasing adoption of ADAS owing to the advancement in technologies such as software algorithms, sensors, cameras, processors, and mapping has improved the applicability of ADAS in vehicles and is expected to fuel the growth of the autonomous car market in the years to come. ADAS assist drivers with the use of artificial intelligence and other technologies, thereby avoiding distractions occurred for the driver. In addition, rising concerns of the safety and security of vehicles and consumers to reduce the percentage of road fatalities, automotive manufacturers are incorporating ADAS in vehicles, thus fuelling the autonomous cars market growth.
- The rising car sale across the globe is anticipated to augment the growth of the autonomous cars market during the forecast period. This is owing to the rapid urbanization, industrialization, rising disposable income of the consumers, and advancement of technologies. Furthermore, the constant upgradation and updates of various features associated to the system are anticipated to offer new avenues for the growth of the autonomous cars market in the upcoming years.
Which region accounted for the largest share in the market?
-
North America was the leading regional segment of the Autonomous Cars or Driverless Cars in 2020.