Autonomous Driving Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

The autonomous driving market is expected to register a CAGR of 28.9% during 2023–2031. The growing number of developments in autonomous shared mobility is one of the major trends in the autonomous driving market.

Autonomous Driving Market Analysis

• The growing automotive production across different regions is one of the major factors supporting the market growth for autonomous vehicles worldwide. This is further generating the demand for different levels of automation in the vehicle industry.
• Further, the growing demand for driving comfort and growth in connected vehicle technologies are some of the other major factors driving the growth of the autonomous driving market.

Autonomous Driving Market Overview

• The global autonomous driving market is likely to witness significant growth in the coming years. This is mainly due to the growing production of automobiles including passenger cars and commercial vehicles and the increasing automation across such vehicles has been driving the market growth.
• Further, the growth in number of electric vehicles across different regions is another major factor likely to provide new opportunities for market vendors in the coming years. This is also propelled by the increasing awareness of reducing the carbon emissions and pollution rates from the automobile industry worldwide. Also, the growth in the adoption of automation technologies in electric vehicles is another factor supporting the growth of the autonomous driving market.

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Autonomous Driving Market: Strategic Insights

Autonomous Driving Market

• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Market Dynamics

GROWTH DRIVERS

• Growing adoption of self-driving cars
• Growing adoption of Evs

FUTURE TRENDS

• The growing number of developments in the autonomous shared mobility

OPPORTUNITIES

• Development of Level 4 and Level 5 Autonomous vehicles

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Level of Automation

• Level 1
• Level 2
• Level 3
• Level 4
• Level 5

Component

• Hardware
• Software

Application

• Consumer
• Ride Sharing
• Car Sharing
• Public Transit

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Autonomous Driving Market Drivers and Opportunities

Growing Adoption of Self-Driving Cars

• The adoption of self-driving cars has more become popular among end users. This is mainly due to the increased deployment of technologies such as artificial intelligence (AI) and machine learning (ML) that allow the vehicle to operate under complex driving environments.
• Further, the increasing registrations of self-driving cars globally is another major factor supporting the market growth. For instance, in 2023, around 21 thousand autonomous/semi-autonomous vehicles were registered globally during 2023 compared to 17 thousand units in 2022. Such growth has been catalyzing the autonomous driving market growth worldwide.

Rising Adoption of Electric Vehicles

• The growth in adoption of electric vehicles is one of the major factors likely to provide new opportunities for market vendors of different regions in the coming years.
• The demand for different models of electric vehicles among the end users differs across various regions. For instance, according to the International Energy Agency (IEA), in 2023, the US witnessed the majority of electric SUVs demand compared to other types of vehicles. Similarly, in 2023, China witnessed a strong growth in the demand for electric SUVs and medium electric cars. Such factors have been pushing the adoption of electric vehicles across different regions which is further likely to generate new opportunities for autonomous driving market vendors in the coming years.

Autonomous Driving Market Report Segmentation Analysis

Key segments that contributed to the derivation of the autonomous driving market analysis are the level of automation, component, and application.

• Based on the level of automation, the autonomous driving market is segmented into level 1, level 2, level 3, level 4, and level 5.
• Based on components, the autonomous driving market is segmented into hardware and software.
• Based on application, the autonomous driving market is bifurcated into consumer, ride-sharing, car-sharing, and public transit.

Autonomous Driving Market Share Analysis by Geography

• Autonomous Driving Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering autonomous driving market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the autonomous driving market in these regions.

Autonomous Driving Market Market Report Scope

Autonomous Driving Market News and Recent Developments

The autonomous driving market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the autonomous driving market are listed below:

• Daimler Truck has the clear goal to lead the transformation to sustainable transportation and to address the challenges of tomorrow. The company is pursuing a vision of zero emissions and increased road safety by combining the two most promising technologies to deliver on that vision — battery-electric drive and integrated autonomous driving technology — in one semi-truck for the first time in its history: the autonomous Freightliner eCascadia technology demonstrator. (Source: Daimler AG, Company Website, May 2024)
• Autonomous Mobility-as-a-Service company, Zoox, today announced it completed a key milestone: deploying the world’s first purpose-built robotaxi on open public roads with passengers. Zoox conducted the first run of its employee shuttle service in Foster City, California, marking the first time in history a purpose-built autonomous robotaxi without traditional driving controls carried passengers on open public roads. (Source: ZOOX, Company Website, February 2023)

Autonomous Driving Market Report Coverage and Deliverables

The “Autonomous Driving Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Autonomous driving market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Autonomous driving market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST analysis
• Autonomous driving market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the autonomous driving market
• Detailed company profiles