Global Autonomous Vehicle Market - Industry Trends and Forecast to 2028

Market Analysis and Insights: Global Autonomous Vehicle Market

Data Bridge Market Research analyses that the autonomous vehicle market will exhibit a CAGR of 20.52% for the forecast period of 2021 to 2028 and is expected to reach the market value of USD 188,534.6 million by 2028.

Autonomous vehicle also known as a driverless vehicle, is a type of automobile that can operate independently without any human intervention. It can perform essential functions by sensing and reacting to outdoor conditions and surroundings through superior and in-built programs. It comprises advanced driver assistance system (ADAS), advanced sensor technology, complex algorithm processors, smart control systems and actuators to collect information and perform tasks and responsive actions such as braking, steering, and acceleration.

The autonomous vehicle market is expected grow over the forecast period of 2021 to 2028, due to the high growth in connected vehicle technology and dynamic mobility application. In addition, the increase in need for safe, productive and efficient driving option and integrity of technology are also largely persuading the growth of the autonomous vehicle market in the above mentioned forecast period. Likewise the rapid advances in various in-vehicle technologies and sensors are another driver anticipated to flourish the autonomous vehicle market growth. Additionally, the surge in  rate of road accidents, have led to the  adoption of advanced safety systems and driver assistance features such as blind-spot identification and automatic emergency braking systems thus are also expected to boost the growth of the autonomous vehicle market in the above mentioned forecast period.

However, the market of autonomous vehicle though has certain limitations which are expected to obstruct the potential growth of the market such as the rise in cyber security and safety concerns and non-availability of required infrastructure in developing countries, whereas the crowd navigation and undefined legal responsibility can challenge the growth of the autonomous vehicle market in the above mentioned forecast period.

This autonomous vehicle market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on autonomous vehicle market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Autonomous Vehicle Market Scope and Market Size

The autonomous vehicle market is segmented on the basis of type, sensors and hardware and software, application and level of automation. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.

• On the basis of type, the autonomous vehicle market has been segmented into semi-autonomous vehicles, and fully autonomous vehicles.
• On the basis of sensor, the autonomous vehicle market is segmented into ultrasonic, radar, LIDAR, image sensor, and others.
• On the basis of by hardware and software, the autonomous vehicle market is segmented into cameras, GPS systems, and communication systems.
• The application segment of the autonomous vehicle market is segmented into transportation, and logistics military and defense.
• Based on level of automation, the autonomous vehicle market is segmented into level 3, level 4 and level 5.

Autonomous Vehicle Market Country Level Analysis

The autonomous vehicle market is analyzed and market size insights and trends are provided by country, type, sensors and hardware and software, application and level of automation as referenced above.

The countries covered in the autonomous vehicle market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).

North America region dominate the autonomous vehicle market and will continue to excel its trend of dominance during the forecast period owing to the rapid increase in the sales of automobiles and increase in various issues concerning vehicle safety. Asia-Pacific will register the highest CAGR for the forecast period of 2021 to 2028 owing to the high production and sales of luxury vehicles as well as the rapid technological advancement.

The country section of the autonomous vehicle market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Autonomous Vehicle Market Share Analysis

The autonomous vehicle 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 vehicle market.

The major players operating in the autonomous vehicle market report are ZF Friedrichshafen AG, Volkswagen AG, Daimler AG, Texas Instruments Incorporated, DENSO CORPORATION, BYD Company Ltd., Robert Bosch GmbH, AB Volvo, Nissan, BorgWarner Inc., Visteon Corporation, Continental AG, NXP Semiconductors, BMW AG, Magna International Inc., Infineon Technologies AG, Renesas Electronics Corporation, Intel Corporation, Tesla, and Valeo, among others. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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