Global Autonomous Vehicles Market

Global Autonomous Vehicles Market Size, Share, Growth Analysis, By Application(Transportation, Industrial), By Fuel Type(ICEs, Electric), By Propulsion Type(Semi-Autonomous, Fully Autonomous), By Component(Hardware, Software & Services) - Industry Forecast 2024-2031

Report ID: SQMIG25C2055 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 116 | Figures: 77

Global Autonomous Vehicles Market News

  • In March 2024, Volkswagen AG, through its subsidiary Volkswagen ADMT GmbH, announced a partnership with Mobileye Global Inc., a pioneer in autonomous driving technology, to introduce Level 4 autonomous vehicles to the commercial market. The collaboration focuses on integrating Mobileye's self-driving system into Volkswagen's electric ID. Buzz AD, with plans for deployment in mobility and transport services by 2026. Leveraging Mobileye's expertise in software, hardware components, and digital mapping, the ID. Buzz AD aims to operate autonomously within specific urban areas. Equipped with advanced technologies such as high-performance computers, cameras, lidar, radar units, and constant online connectivity for real-time data and map updates.
  • In March 2024, Advanced Micro Devices, Inc. announced that Sony Semiconductor Solutions (SSS) integrated AMD's adaptive computing technology into its new automotive LiDAR reference design. This collaboration aims to enhance the safety features of autonomous vehicles through improved object detection and real-time data analysis. LiDAR, essential for depth perception and environmental mapping in autonomous driving, benefits from the combination of AMD's Zynq UltraScale+ MPSoC and Artix-7 FPGA with Sony's image sensor expertise. The result is a LiDAR system offering high accuracy and swift data processing, crucial for navigating complex driving scenarios and identifying potential hazards with precision.
  • In March 2024, Autonomous driving technology similar to Tesla's Autopilot is being developed for India in Bengaluru. Minus Zero, which showcased an autonomous concept last year, aims to be the first Indian technology provider to offer hub-to-hub autonomous driving. Their initial collaboration with an OEM, Ashok Leyland, could be the first of several partnerships to roll out more autonomous driving features.
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FAQs

Global Autonomous Vehicle Market size was valued at USD 146.66 Billion in 2019 and is poised to grow from USD 209.43 Billion in 2023 to USD 3079.43 Billion by 2031, at a CAGR of 40.10% during the forecast period (2024-2031).

The global autonomous vehicle market is highly competitive and fragmented, with a large number of players competing for market share. The market is dominated by established players such as Tesla, Google, General Motors, and Ford, while other players such as Baidu, Uber, and Daimler are also gaining significant traction in the market. To remain competitive in the market, companies are focusing on strategic partnerships and collaborations, mergers and acquisitions, and investing in research and development. The competitive landscape of the global autonomous vehicle market is expected to remain intense, with players focusing on innovation, strategic partnerships, and collaborations to gain market share and stay ahead of the competition. 'General Motors Company', 'Ford Motor Company', 'Tesla, Inc.', 'Waymo LLC (US)  ', 'Cruise LLC (US)  ', 'Uber Technologies Inc. (US)  ', 'BMW AG (Germany) ', 'Honda Motor Co., Ltd. (Japan) ', 'Toyota Motor Corporation (Japan) ', 'Aptiv PLC (Ireland) ', 'Volkswagen AG (Germany) ', 'Baidu, Inc. (China) ', 'NIO Inc. (China) ', 'Daimler AG (Germany) ', 'Mobileye N.V. (Israel) ', 'NVIDIA Corporation (US)  ', 'Volvo Group (Sweden) ', 'Aurora Innovation Inc. (US)  ', 'Zoox, Inc. (US)  ', 'Pony.ai (China)'

Rise of Connected and Autonomous Mobility (CAM): Connected and Autonomous Mobility (CAM) is an integrated transportation system that uses advanced technologies such as 5G, edge computing, artificial intelligence, and IoT to create a seamless and efficient mobility experience. CAM is expected to revolutionize the way people and goods are transported, and it is a key trend driving the growth of the autonomous vehicle market.  

North America held the largest market share of over 48.26% in the global autonomous vehicle market in 2023 and is further expected to continue dominance during the forecast period. The growth in the mobility-as-a-service sector is expected to drive the growth of the autonomous car market in the region. The adoption of autonomous cars on public roads is being encouraged through amendments in traffic regulations across the US.

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