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Autonomous Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global autonomous vehicle market reached a value of US$ 42.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 297.3 Billion by 2027, exhibiting a CAGR of 38.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Autonomous vehicle (AV), or a driverless vehicle, refers to an automobile that can operate independently without any human intervention. It can perform necessary functions by sensing and responding to external conditions and surroundings through superior and in-built programs. It consists of advanced sensor technology, advanced driver assistance system (ADAS), complex algorithm processors, smart control systems and actuators to gather information and perform tasks and responsive actions, such as steering, braking and acceleration. In comparison to the human-driven vehicles, AVs offer increased safety on the road, minimize human errors and fatigue and can be driven by individuals with physical disabilities.

Autonomous Vehicle Market Trends:

Significant growth in the automotive industry, along with rapid digitization, represents one of the key factors creating a positive outlook for the market. Furthermore, the increasing requirement for safe and efficient mode of transportation is also driving the market growth. This has resulted to a growing preference among consumers for AVs with internet connectivity, safety alerts, automatic crash notifications and enhanced engine controls. Additionally, various technological advancements, such as the integration of artificial intelligence (AI), robotics, machine learning (ML) and the Internet of Things (IoT), are acting as other growth-inducing factors. In line with this, AV manufacturers are also using efficient light detection and ranging (LiDAR) and radio detection and ranging (RADAR) sensing technology for extensive monitoring and generation of 3D maps of the surroundings. Other factors, including the implementation of favorable government policies promoting auto-tech, along with innovations in connected vehicle technology and dynamic mobility applications, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global autonomous vehicle market, along with forecasts at the global, regional and country level from 2022-2027.Our report has categorized the market based on component, level of automation and application.

Breakup by Component:

  • Hardware
  • Software and Services
     

Breakup by Level of Automation:

  • Level 3
  • Level 4
  • Level 5
     

Breakup by Application:

  • Transportation and Logistics
  • Military and Defense
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AB Volvo, AUDI Aktiengesellschaft (Volkswagen Group), Bayerische Motoren Werke AG, Daimler AG, Ford Motor Company, General Motors, Tesla Inc., Toyota Motor Corporation, Uber Technologies Inc. and Waymo LLC (Alphabet Inc.).

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Component, Level of Automation, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered AB Volvo, AUDI Aktiengesellschaft (Volkswagen Group), Bayerische Motoren Werke AG, Daimler AG, Ford Motor Company, General Motors, Tesla Inc., Toyota Motor Corporation, Uber Technologies Inc. and Waymo LLC (Alphabet Inc.)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1   Objectives of the Study
    2.2   Stakeholders
    2.3   Data Sources
        2.3.1   Primary Sources
        2.3.2   Secondary Sources
    2.4   Market Estimation
        2.4.1   Bottom-Up Approach
        2.4.2   Top-Down Approach
    2.5   Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1   Overview
    4.2   Key Industry Trends
5   Global Autonomous Vehicle Market
    5.1   Market Overview
    5.2   Market Performance
    5.3   Impact of COVID-19
    5.4   Market Forecast
6    Market Breakup by Component
     6.1   Hardware
        6.1.1  Market Trends
        6.1.2  Market Forecast
     6.2   Software and Services
        6.2.1  Market Trends
        6.2.2  Market Forecast
7    Market Breakup by Level of Automation
     7.1   Level 3
        7.1.1  Market Trends
        7.1.2  Market Forecast
     7.2   Level 4
        7.2.1  Market Trends
        7.2.2  Market Forecast
     7.3   Level 5
        7.3.1  Market Trends
        7.3.2  Market Forecast
8    Market Breakup by Application
     8.1   Transportation and Logistics
        8.1.1  Market Trends
        8.1.2  Market Forecast
     8.2   Military and Defense
        8.2.1  Market Trends
        8.2.2  Market Forecast
9    Market Breakup by Region
     9.1   North America
          9.1.1   United States
               9.1.1.1  Market Trends
               9.1.1.2  Market Forecast
          9.1.2   Canada
               9.1.2.1  Market Trends
               9.1.2.2  Market Forecast
     9.2   Asia-Pacific
          9.2.1   China
               9.2.1.1  Market Trends
               9.2.1.2  Market Forecast
          9.2.2   Japan
               9.2.2.1  Market Trends
               9.2.2.2  Market Forecast
          9.2.3   India
               9.2.3.1  Market Trends
               9.2.3.2  Market Forecast
          9.2.4   South Korea
               9.2.4.1  Market Trends
               9.2.4.2  Market Forecast
          9.2.5   Australia
               9.2.5.1  Market Trends
               9.2.5.2  Market Forecast
          9.2.6   Indonesia
               9.2.6.1  Market Trends
               9.2.6.2  Market Forecast
          9.2.7   Others
               9.2.7.1  Market Trends
               9.2.7.2  Market Forecast
     9.3   Europe
          9.3.1   Germany
               9.3.1.1  Market Trends
               9.3.1.2  Market Forecast
          9.3.2   France
               9.3.2.1  Market Trends
               9.3.2.2  Market Forecast
          9.3.3   United Kingdom
               9.3.3.1  Market Trends
               9.3.3.2  Market Forecast
          9.3.4   Italy
               9.3.4.1  Market Trends
               9.3.4.2  Market Forecast
          9.3.5   Spain
               9.3.5.1  Market Trends
               9.3.5.2  Market Forecast
          9.3.6   Russia
               9.3.6.1  Market Trends
               9.3.6.2  Market Forecast
          9.3.7   Others
               9.3.7.1  Market Trends
               9.3.7.2  Market Forecast
     9.4   Latin America
          9.4.1   Brazil
               9.4.1.1  Market Trends
               9.4.1.2  Market Forecast
          9.4.2   Mexico
               9.4.2.1  Market Trends
               9.4.2.2  Market Forecast
          9.4.3   Others
               9.4.3.1  Market Trends
               9.4.3.2  Market Forecast
     9.5   Middle East and Africa
          9.5.1  Market Trends
          9.5.2  Market Breakup by Country
          9.5.3  Market Forecast
10  SWOT Analysis
    10.1   Overview
    10.2   Strengths
    10.3   Weaknesses
    10.4   Opportunities
    10.5   Threats
11  Value Chain Analysis
12  Porters Five Forces Analysis

    12.1   Overview
    12.2   Bargaining Power of Buyers
    12.3   Bargaining Power of Suppliers
    12.4   Degree of Competition
    12.5   Threat of New Entrants
    12.6   Threat of Substitutes
13  Price Analysis
14  Competitive Landscape

    14.1   Market Structure
    14.2   Key Players
    14.3   Profiles of Key Players
         14.3.1   AB Volvo
              14.3.1.1   Company Overview
              14.3.1.2   Product Portfolio
              14.3.1.3   Financials
              14.3.1.4   SWOT Analysis
         14.3.2   AUDI Aktiengesellschaft (Volkswagen Group)
              14.3.2.1   Company Overview
              14.3.2.2   Product Portfolio
              14.3.2.3   Financials
              14.3.2.4   SWOT Analysis
         14.3.3   Bayerische Motoren Werke AG
              14.3.3.1   Company Overview
              14.3.3.2   Product Portfolio
              14.3.3.3   Financials
              14.3.3.4   SWOT Analysis
         14.3.4   Daimler AG
              14.3.4.1   Company Overview
              14.3.4.2   Product Portfolio
              14.3.4.3   Financials
              14.3.4.4   SWOT Analysis
         14.3.5   Ford Motor Company
              14.3.5.1   Company Overview
              14.3.5.2   Product Portfolio
              14.3.5.3   Financials
              14.3.5.4   SWOT Analysis
         14.3.6   General Motors
              14.3.6.1   Company Overview
              14.3.6.2   Product Portfolio
              14.3.6.3   Financials
              14.3.6.4   SWOT Analysis
         14.3.7   Tesla Inc.
              14.3.7.1   Company Overview
              14.3.7.2   Product Portfolio
              14.3.7.3   Financials
              14.3.7.4   SWOT Analysis
         14.3.8   Toyota Motor Corporation
              14.3.8.1   Company Overview
              14.3.8.2   Product Portfolio
              14.3.8.3   Financials
              14.3.8.4   SWOT Analysis
         14.3.9   Uber Technologies Inc.
              14.3.9.1   Company Overview
              14.3.9.2   Product Portfolio
              14.3.9.3   Financials
         14.3.10   Waymo LLC (Alphabet Inc.)
              14.3.10.1   Company Overview
              14.3.10.2   Product Portfolio

List of Figures

Figure 1: Global: Autonomous Vehicle Market: Major Drivers and Challenges
Figure 2: Global: Autonomous Vehicle Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Autonomous Vehicle Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Autonomous Vehicle Market: Breakup by Component (in %), 2021
Figure 5: Global: Autonomous Vehicle Market: Breakup by Level of Automation (in %), 2021
Figure 6: Global: Autonomous Vehicle Market: Breakup by Application (in %), 2021
Figure 7: Global: Autonomous Vehicle Market: Breakup by Region (in %), 2021
Figure 8: Global: Autonomous Vehicle (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Autonomous Vehicle (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Autonomous Vehicle (Software and Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Autonomous Vehicle (Software and Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Autonomous Vehicle (Level 3) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Autonomous Vehicle (Level 3) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Autonomous Vehicle (Level 4) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Autonomous Vehicle (Level 4) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Autonomous Vehicle (Level 5) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Autonomous Vehicle (Level 5) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Autonomous Vehicle (Transportation and Logistics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Autonomous Vehicle (Transportation and Logistics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Autonomous Vehicle (Military and Defense) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Autonomous Vehicle (Military and Defense) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: North America: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: North America: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: North America: Autonomous Vehicle Market: Breakup by Country (in %), 2021
Figure 25: United States: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: United States: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Canada: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Canada: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Asia-Pacific: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Asia-Pacific: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Asia-Pacific: Autonomous Vehicle Market: Breakup by Country (in %), 2021
Figure 32: China: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: China: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Japan: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Japan: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: India: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: India: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: South Korea: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: South Korea: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Australia: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Australia: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Indonesia: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Indonesia: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Others: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Others: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Europe: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Europe: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Europe: Autonomous Vehicle Market: Breakup by Country (in %), 2021
Figure 49: Germany: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Germany: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: France: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: France: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: United Kingdom: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: United Kingdom: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Italy: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Italy: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Spain: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Spain: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Russia: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Russia: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Others: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Others: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Latin America: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Latin America: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Latin America: Autonomous Vehicle Market: Breakup by Country (in %), 2021
Figure 66: Brazil: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Brazil: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Mexico: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Mexico: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Others: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Others: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Middle East and Africa: Autonomous Vehicle Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Middle East and Africa: Autonomous Vehicle Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Middle East and Africa: Autonomous Vehicle Market: Breakup by Country (in %), 2021
Figure 75: Global: Autonomous Vehicle Industry: SWOT Analysis
Figure 76: Global: Autonomous Vehicle Industry: Value Chain Analysis
Figure 77: Global: Autonomous Vehicle Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Autonomous Vehicle Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Autonomous Vehicle Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Autonomous Vehicle Market Forecast: Breakup by Level of Automation (in Million US$), 2022-2027
Table 4: Global: Autonomous Vehicle Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Autonomous Vehicle Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Autonomous Vehicle Market: Competitive Structure
Table 7: Global: Autonomous Vehicle Market: Key Players


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Key Questions Answered in This Report

The global autonomous vehicle market was valued at US$ 42.2 Billion in 2021.

We expect the global autonomous vehicle market to exhibit a CAGR of 38.4% during 2022-2027.

The growing consumer preferences towards autonomous vehicles with internet connectivity, safety alerts, automatic crash notifications, etc., as a safe and efficient mode of transportation are primarily driving the global autonomous vehicle market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units and demand fluctuations, thereby limiting the overall demand for autonomous vehicles.

Based on the component, the global autonomous vehicle market can be segmented into hardware and software and services. Currently, software and services hold the majority of the total market share.

Based on the level of automation, the global autonomous vehicle market has been divided into level 3, level 4, and level 5. Among these, level 3 currently exhibits a clear dominance in the market.

Based on the application, the global autonomous vehicle market can be categorized into transportation and logistics and military and defense. Currently, the transportation and logistics sector accounts for the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global autonomous vehicle market include AB Volvo, AUDI Aktiengesellschaft (Volkswagen Group), Bayerische Motoren Werke AG, Daimler AG, Ford Motor Company, General Motors, Tesla Inc., Toyota Motor Corporation, Uber Technologies Inc., and Waymo LLC (Alphabet Inc.).

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