Autonomous Vehicles Market Research Report- Forecast 2027

Autonomous Vehicles Market Information, By Type (Semi-Autonomous Vehicles, Fully Autonomous Vehicles), By Sensors (Ultrasonic, Radar, Lidar, Image Sensor, Others), By Hardware and Software (Cameras, GPS Systems, Communication Systems) and By Region (North America, Europe, Asia Pacific, Rest of the World (RoW)) - Forecast till 2027

ID: MRFR/SEM/0514-CR | February, 2020 | Region : Global

Autonomous Vehicles Market Overview

Autonomous Vehicles Market is expected to reach USD 65.3 Billion by the end of the assessment period (2016-2027). Currently, many major players are contributing to the development of semi-autonomous and fully autonomous vehicles. Innovative prototypes are being tested in the R&D centers of various automobile companies and universities. The autonomous vehicles market is expected to witness increasing auto-driving vehicle launches by 2020-2021. Government norms & regulations related to passenger safety are a major factor responsible for expanding the autonomous vehicle market in 2020. Besides, the government's rules, increased demand for developed driver assisted systems in vehicles increasing sales of vehicles, and others. Therefore, vehicle manufacturers are innovating new technologies to evolve the vehicle safety system and intelligent transport system


Moreover, increased accidents across the globe foster the demand for autonomous vehicles. The crucial factors that help expand the autonomous vehicles market are increased government mandates for developed driver-assistance systems (ADAS) features, including the basic safety systems like anti-lock braking systems (ABS) and airbags.


COVID-19 Analysis


COVID 19 hit the overall automotive industry, forcing automakers to reduce the output at their production plants. The disruption caused by the epidemic at key suppliers prompted various passenger car brands to cut back production in some areas. They were working very intensively on countermeasures and alternatives in order to minimize the impact. 


However, autonomous vehicle manufacturers and dealers have shifted their focus from the offline lead generation model to online sales. This initiative to engage with prospective buyers through digital channels proves to be a game-changer to the market growth. Despite the coronavirus crises, the demand for luxury vehicles is returning to normal, and subsequently, the autonomous vehicles market is too picking up gradually.


Competitive Landscape


Highly competitive, the autonomous vehicles market appears fragmented with the presence of several notable industry players. These players initiate strategic moves such as mergers & acquisitions, collaboration, innovation, and brand reinforcement to gain a larger competitive share. 


List of Key Companies covered in this report



  • General Motors (US)

  • Volkswagen (Germany)

  • Ford Motor Company (US)

  • BMW (Germany)

  • Baidu (China)

  • Tesla (US)

  • Toyota (Japan)

  • Audi (Germany)

  • Jaguar (UK)

  • Google (US)

  • Continental AG (Germany)

  • Intel Corporation (US)

  • Renesas Electronics Corporation (Japan)

  • ZF Friedrichshafen AG (Germany)

  • Nvidia Corporation (US)

  • Infineon Technologies AG (Germany)

  • Hitachi Ltd. (Japan)

  • Autoliv Inc. (Sweden)

  • NXP Semiconductors NV (Netherlands)

  • Bosch (Germany)


Recent Developments


18, 2020 ---- Mobileye (Israel), a global leader in advanced driver-assistance systems, has been testing its technologies for over two years and has many running partnerships with Dubai to test AVs in several cities and roll out Mobility-as-a-Service (Maas) offerings, including self-driving taxis & smart city solutions, together with Israeli-founded mobility company Moovit, acquired by Intel in 2020 for USD 900 million.


Mobileye is one of the world's largest suppliers of camera-based sensors used in ADAS. The company is also developing high-definition maps for automated vehicles, hoping to make autonomous driving a reality in the near future.


Autonomous Vehicles Market Dynamics



  • Drivers & Opportunities


The rising adoption of advanced safety systems and driver assistance features drive autonomous vehicles market growth.


Due to the rising rate of road accidents, the adoption of advanced safety systems and driver assistance features like blind-spot identification and automatic emergency braking systems is growing continually. Moreover, increasing demand for cost-competitive autonomous vehicle safety systems is estimated to propel the growth of the autonomous vehicle market.


To lessen the accidents happening daily, the monitoring bodies in the developed regions are making it compulsory to install the advanced safety system and anti-lock braking system in vehicles, which helps expand the market. Increased numbers of accidents happened due to human negligence acts as a major factor driving the growth of the market.


Therefore, the automotive ecosystem promotes the usage of autonomous/semi-autonomous vehicles, shifting the attention towards completely automatic automobiles free of human errors. The increase in vehicle sales across the world leads to high demand for autonomous vehicles. Furthermore, advances in various in-vehicle technologies and sensors, including active steering (steer by wire), adaptive cruise control, anti-lock braking systems (brake-by-wire), GPS navigation technology, and lasers & radar, influence the market growth.


 Restraints & Challenges


  • Cybersecurity concerns act as major market restraints.


Concerns of cybersecurity issues such as data breaches of personal information are major obstructions in the autonomous vehicle adoption rate. Also, legal obstructions in autonomous vehicles would hamper the expansion of the market. These issues of legal liability in the case of an accident have become more relevant. Even systems designed to automate driving, like adaptive cruise control that maintains vehicles at a certain speed and distance from the car ahead can cause accidents.


There is also the question of legal liabilities, as the legal responsibilities of the human driver and the carmaker that built the self-driving car? Simultaneously, self-driving cars remain one of the hardest technical challenges around. Besides physical advances, mental improvements are also needed.


 Cumulative Growth Analysis


  • Autonomous driving would change the automotive game.


Autonomous driving is becoming a major buying factor for customers. People in China, Europe, and the United States would switch automotive brands to get a vehicle with better autonomous driving features. The awareness of the importance of autonomous driving features is projected to change the automotive game.



  • Autonomous Vehicles Market Segment Overview


The autonomous vehicles market is segmented on the basis of type, sensors, hardware and software, and region. 


By type, the Autonomous Vehicles Market is segmented into semi-autonomous and fully autonomous vehicles.


By sensors, the Autonomous Vehicles Market is segmented into ultrasonic, radar, lidar, image, and other.


Based on hardware and software, the Autonomous Vehicles Market is segmented into Communication Systems, Cameras, GPS Systems, and others.


Furthermore, the region segment comprises the Americas, Europe, Asia Pacific, and rest-of-the-world.


By Type


  • Semi-Autonomous Vehicles 

  • Fully Autonomous Vehicles


By Sensors


  • Ultrasonic

  • Radar

  • Lidar

  • Image Sensor

  • Others


By Hardware and Software


  • Cameras

  • GPS Systems 

  • Communication Systems


By Region 


  • North America

  • Europe

  • Asia Pacific

  • Rest of the World (RoW)


Regional Analysis



  • North America Dominates the Global Autonomous Vehicles Market.


Globally, North America holds the largest share in the market. The region is a promising market for luxury autonomous vehicles. Factors such as the rise in the sales of automobiles and issues concerning vehicle safety drive Autonomous Vehicles Market growth. In the next few years, government regulations within the North American nations are estimated to become more stringent. Additionally, the constant rise in the automotive industry and increasing demand for more automated vehicles help the regional market gain the highest market share. 


Europe is the second-largest market for autonomous vehicles, which stood at the valuation of USD 1.10 billion in 2015. The increase in sales and R&D investments in luxury vehicle developments boost the growth of the regional market. The region is the global hub for expensive and high-end car manufacturers. Besides, rising consumer preference and spending on lavish, high-performance vehicles impact the regional market growth positively. Moreover, the presence of the well-established automotive industry in the region influences the growth of the Autonomous Vehicles Market.


The Asia Pacific region is estimated to become the second biggest market for autonomous vehicles by the end of the year 2027. Factors such as the increasing production & sales of luxury vehicles influence the growth of the regional market. Furthermore, the well-established automobile industry in this region creates substantial opportunities for the automobile industry in the region. Due to the high technological advancement, The APAC market is expected to be the fastest-growing region globally, registering 29.2% CAGR during the forecast period.

1 MARKET INTRODUCTION

1.1 INTRODUCTION

1.2 SCOPE OF STUDY

1.2.1 RESEARCH OBJECTIVE

1.2.2 ASSUMPTIONS

1.2.3 LIMITATIONS

1.3 MARKET STRUCTURE:

1.3.1 GLOBAL AUTONOMOUS VEHICLE MARKET, BY SENSOR

1.3.2 GLOBAL AUTONOMOUS VEHICLES MARKET: BY HARDWARE & SOFTWARE

1.3.3 GLOBAL AUTONOMOUS VEHICLE MARKET, BY TYPE

1.3.4 GLOBAL AUTONOMOUS VEHICLE MARKET, BY REGION

2 RESEARCH METHODOLOGY

2.1 RESEARCH PROCESS

2.2 PRIMARY RESEARCH

2.3 SECONDARY RESEARCH

2.4 FORECAST MODEL

2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST

2.4.2 MARKET SIZE ESTIMATION

2.4.3 MARKET CRACKDOWN & DATA TRIANGULATION

3 GLOBAL AUTONOMOUS VEHICLES MARKET: OVERVIEW

3.1 INTRODUCTION

3.1.1 DEFINITION

3.1.2 MARKET SEGMENTATION OF AUTONOMOUS VEHICLES MARKET

4 GLOBAL AUTONOMOUS VEHICLES MARKET: FORECAST INDICATORS

4.1 INTRODUCTION

4.2 GROWTH DRIVERS

4.2.1 AGING POPULATION

4.2.2 TECHNOLOGICAL ADVANCEMENT

4.2.3 RIDE SHARING

4.2.4 FUEL EFFICIENCY

4.3 GROWTH BARRIERS

4.3.1 COST

4.3.2 LEGAL AND LICENSING CONSIDERATIONS

4.3.3 CYBER RISK

4.4 OPPORTUNITIES

4.4.1 TIME

4.4.2 EASY PARKING AND ACCESS TO VEHICLES

4.4.3 HIGH DROP IN ACCIDENT RATES

4.5 MEGA TRENDS

4.5.1 HIGH INVESTMENT IN R&D

4.5.2 INCREASE GOVERNMENT INTEREST

4.6 MACROECONOMIC INDICATORS

4.6.1 GDP (GROSS DOMESTIC PRODUCT)

4.6.2 EMPLOYMENT

5 GLOBAL AUTONOMOUS VEHICLES MARKET ANALYSIS

5.1 LAWS /REGULATORY BODIES

5.2 PATENTS

5.3 VALUE CHAIN ANALYSIS

6 GLOBAL AUTONOMOUS VEHICLES MARKET: PORTER'S 5 FORCES ANALYSIS

6.1 INTRODUCTION

6.2 THREAT OF NEW ENTRANTS

6.3 SUPPLIER’S POWER

6.4 THREAT OF SUBSTITUTES

6.5 BUYER’S POWER

6.6 DEGREE OF COMPETITION

7 GLOBAL AUTONOMOUS VEHICLES MARKET: BY SENSOR

7.1 INTRODUCTION

7.2 MARKET SIZE (SUB SEGMENTS)

7.2.1 ULTRASONIC SENSORS

7.2.2 RADAR SENSORS

7.2.3 LIDAR SENSORS

7.2.4 IMAGE SENSOR

7.2.5 OTHERS (IR)

8 GLOBAL AUTONOMOUS VEHICLES MARKET: BY HARDWARE & SOFTWARE

8.1 INTRODUCTION

8.1.1 CAMERAS

8.1.2 COMMUNICATION AND TELEMATICS

8.1.3 GPS SYSTEMS

9 GLOBAL AUTONOMOUS VEHICLES MARKET: BY TYPE

9.1 INTRODUCTION

9.2 SEMI-AUTONOMOUS

9.3 FULLY AUTONOMOUS

9.3.1 USER-OPERATED FULLY AUTONOMOUS VEHICLES

9.3.2 DRIVERLESS FULLY AUTONOMOUS VEHICLES

10 GLOBAL AUTONOMOUS VEHICLES MARKET: BY COUNTRY

10.1 INTRODUCTION

10.2 AMERICAS

10.2.1 NORTH AMERICA

10.3 EUROPE

10.4 ASIA-PACIFIC

10.5 ROW

11 GLOBAL AUTONOMOUS VEHICLES MARKET: COMPETITIVE LANDSCAPE

11.1 INTRODUCTION

11.2 KEY MARKET DEVELOPMENT TRENDS

11.3 PARTNERSHIPS, COLLABORATIONS AND AGREEMENTS (2020-2027)

11.4 INVESTMENT (2016)

11.5 ACHIEVEMENT (2015-2016)

11.6 ACQUISITION (2013-2016)

11.7 EXPANSION (2016)

12 GLOBAL AUTONOMOUS VEHICLES MARKET: OVERVIEW

12.1 GOOGLE (U.S.)

12.1.1 COMPANY OVERVIEW

12.1.2 PRODUCT/BUSINESS SEGMENT OVERVIEW

12.1.3 FINANCIAL UPDATES

12.1.4 KEY DEVELOPMENTS

12.2 GENERAL MOTORS (U.S.)

12.2.1 COMPANY OVERVIEW

12.2.2 PRODUCT/BUSINESS SEGMENT OVERVIEW

12.2.3 FINANCIAL UPDATES

12.2.4 KEY DEVELOPMENTS

12.3 VOLKSWAGEN (GERMANY)

12.3.1 COMPANY OVERVIEW

12.3.2 PRODUCT/BUSINESS SEGMENT OVERVIEW

12.3.3 FINANCIAL UPDATES

12.3.4 KEY DEVELOPMENTS

12.4 BMW (GERMANY)

12.4.1 COMPANY OVERVIEW

12.4.2 PRODUCT/BUSINESS SEGMENT OVERVIEW

12.4.3 FINANCIAL UPDATES

12.4.4 KEY DEVELOPMENTS

12.5 FORD MOTOR COMPANY (U.S.)

12.5.1 COMPANY OVERVIEW

12.5.2 PRODUCT/BUSINESS SEGMENT OVERVIEW

12.5.3 FINANCIAL UPDATES

12.5.4 KEY DEVELOPMENTS

12.6 BAIDU (CHINA)

12.6.1 COMPANY OVERVIEW

12.6.2 PRODUCT/BUSINESS SEGMENT OVERVIEW

12.6.3 FINANCIAL UPDATES

12.6.4 KEY DEVELOPMENTS

12.7 TOYOTA (JAPAN)

12.7.1 COMPANY OVERVIEW

12.7.2 PRODUCT/BUSINESS SEGMENT OVERVIEW

12.7.3 FINANCIAL UPDATES

12.7.4 KEY DEVELOPMENTS

12.8 TESLA (U.S.)

12.8.1 COMPANY OVERVIEW

12.8.2 PRODUCT/BUSINESS SEGMENT OVERVIEW

12.8.3 FINANCIAL UPDATES

12.8.4 KEY DEVELOPMENTS

12.9 AUDI (GERMANY)

12.9.1 COMPANY OVERVIEW

12.9.2 PRODUCT/BUSINESS SEGMENT OVERVIEW

12.9.3 FINANCIAL UPDATES

12.9.4 KEY DEVELOPMENTS

12.10 JAGUAR LAND ROVER (U.K.)

12.10.1 COMPANY OVERVIEW

12.10.2 PRODUCT/BUSINESS SEGMENT OVERVIEW

12.10.3 FINANCIAL UPDATES

12.10.4 KEY DEVELOPMENTS

13 APPENDIX

13.1 DISCUSSION BLUE PRINT

14 List of Tables

TABLE 1 GLOBAL AUTONOMOUS VEHICLES MARKET (USD BILLION)

TABLE 2 MARKET FACTOR ANALYSIS

TABLE 3 AUTONOMOUS VEHICLES ACTIVITIES WITH POSSIBLE SENSOR TECHNOLOGIES

TABLE 4 AUTONOMOUS VEHICLES: ADVANTAGES & DISADVANTAGES OF SENSORS

TABLE 5 GLOBAL AUTONOMOUS VEHICLES MARKET: BY SENSOR (USD BILLION)

TABLE 6 GLOBAL ULTRASONIC SENSOR MARKET: BY REGION (USD BILLION)

TABLE 7 GLOBAL RADAR SENSOR MARKET: BY REGION (USD BILLION)

TABLE 8 GLOBAL LIDAR SENSOR MARKET: BY REGION (USD BILLION)

TABLE 9 GLOBAL IMAGE SENSOR MARKET BY REGION (USD BILLION)

TABLE 10 OTHERS (IR) MARKET: BY REGION (USD BILLION)

TABLE 11 GLOBAL AUTONOMOUS VEHICLES MARKET: BY TYPE (USD BILLION)

TABLE 12 GLOBAL SEMI AUTONOMOUS VEHICLE TYPE MARKET: BY REGION (USD BILLION)

TABLE 13 GLOBAL FULLY AUTONOMOOUS VEHICLE TYPE MARKET: BY REGION (USD BILLION)

TABLE 14 GLOBAL AUTONOMOUS VEHICLES MARKET SIZE, BY REGION

TABLE 15 NORTH AMERICA AUTONOMOUS VEHICLES MARKET, BY SENSOR (USD BILLION)

TABLE 16 NORTH AMERICA AUTONOMOUS VEHICLES MARKET, BY TYPE (USD BILLION)

TABLE 17 NORTH AMERICA AUTONOMOUS VEHICLE MARKET SIZE, BY COUNTRY (USD BILLION)

TABLE 18 EUROPE AUTONOMOUS VEHICLES MARKET, BY SENSOR (USD BILLION)

TABLE 19 EUROPE AUTONOMOUS VEHICLES MARKET, BY TYPE (USD BILLION)

TABLE 20 EUROPE AUTONOMOUS VEHICLES MARKET, BY COUNTRY (USD BILLION)

TABLE 21 ASIA-PACIFIC AUTONOMOUS VEHICLES MARKET, BY SENSOR (USD BILLION)

TABLE 22 ASIA-PACIFIC AUTONOMOUS VEHICLES MARKET, BY TYPE (USD BILLION)

TABLE 23 ASIA-PACIFIC AUTONOMOUS VEHICLES MARKET, BY COUNTRY

TABLE 24 ROW AUTONOMOUS VEHICLES MARKET, BY SENSOR (USD BILLION)

TABLE 25 ROW AUTONOMOUS VEHICLES MARKET, BY TYPE (USD BILLION)


15 List of Figures

FIGURE 1 RESEARCH PROCESS

FIGURE 2 SENSORS IN AUTONOMOUS VEHICLES & ITS AVERAGE EFFECTIVE RANGE

FIGURE 3 GLOBAL AUTONOMOUS VEHICLES MARKET: BY SENSOR

FIGURE 4 GLOBAL ULTRASONIC SENSOR MARKET: BY REGION (%)

FIGURE 5 GLOBAL RADAR SENSOR MARKET: BY REGION (%)

FIGURE 6 GLOBAL LIDAR SENSOR MARKET: BY REGION (%)

FIGURE 7 GLOBAL IMAGE SENSOR MARKET: BY REGION (%)

FIGURE 8 OTHERS (IR) MARKET: BY REGION (%)

FIGURE 9 GLOBAL AUTONOMOUS VEHICLES MARKET: BY TYPE (%)

FIGURE 10 GLOBAL SEMI AUTONOMOUS VEHICLE TYPE MARKET: BY REGION

FIGURE 11 GLOBAL FULLY AUTONOMOOUS VEHICLE TYPE MARKET: BY REGION (%)

FIGURE 12 AUTONOMOUS VEHICLE MARKET SHARE BY REGION (2020-2027) (%)

FIGURE 13 NORTH AMERICA AUTONOMOUS VEHICLES MARKET,BY SENSOR (USD BILLION)

FIGURE 14 NORTH AMERICA AUTONOMOUS VEHICLES MARKET,BY TYPE (%)

FIGURE 15 NORTH AMERICA AUTONOMOUS VEHICLE MARKET SHARE BY COUNTRY (2020-2027) (%)

FIGURE 16 EUROPE AUTONOMOUS VEHICLES MARKET, BY SENSOR (USD BILLION)

FIGURE 17 EUROPE AUTONOMOUS VEHICLES MARKET, BY TYPE (%)

FIGURE 18 EUROPE AUTONOMOUS VEHICLE MARKET SHARE BY COUNTRY (2020-2027) (%)

FIGURE 19 ASIA-PACIFIC AUTONOMOUS VEHICLES MARKET, BY SENSOR (USD BILLION)

FIGURE 20 ASIA-PACIFIC AUTONOMOUS VEHICLES MARKET, BY TYPE (%)

FIGURE 21 ROW AUTONOMOUS VEHICLES MARKET, BY SENSOR (USD BILLION)

FIGURE 22 ROW AUTONOMOUS VEHICLES MARKET, BY TYPE (%)

Autonomous Vehicles Market