NEW YORK, June 9, 2023 /PRNewswire/ — The autonomous vehicles market size is forecast to increase by USD 319.41 billion from 2022 to 2027. The market is estimated to progress at a CAGR of 38.45%, according to a recent market study by Technavio. The growth of the market will be driven by the increasing demand for autonomy of vehicles by OEMs, the increasing popularity of semi-autonomous vehicles, and intelligent transport systems contributing to the autonomous technology adoption. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report
Technavio has announced its latest market research report titled Global Autonomous Vehicles Market 2023-2027
Technavio has extensively analyzed 15 major vendors, including AB Volvo, Alphabet Inc., Amazon.com Inc., Baidu Inc., BMW AG, Continental AG, Ford Motor Co., General Motors Co, Honda Motor Co. Ltd, Hyundai Motor Co, Intel Corp., Mercedes Benz Group AG, Navistar International Corp., Renault SAS, Robert Bosch GmbH, Stellantis NV, Tesla Inc., Toyota Motor Corp., and Volkswagen AG
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Key Benefits for Industry Players and Stakeholders –
The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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Autonomous Vehicles Market – Segmentation
This autonomous car market research report extensively covers market segmentation by application (transportation and logistics and military and defense), vehicle type (autonomous passenger car and autonomous commercial vehicles), and geography (North America, Europe, APAC, South America, and the Middle East and Africa).
The market share growth by the transportation and logistics segment will be significant during the forecast period. Various manufacturers, autonomous technology developers, and system integrators have been evaluating the commercial viability of fully autonomous buses for transportation and logistics. Also, the newly emerging modes of public transportation are expected to negatively impact the conventional bus transit system. This acts as a driving force for the deployment of fully autonomous transportation vehicles. Hence, such factors drive segment growth during the forecast period.
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Autonomous Vehicles Market – Market Dynamics
Key Drivers
The automotive OEMs’ emphasis on achieving the autonomy of vehicles drives the market growth of the autonomous vehicles market during the forecast period. Various major automotive manufacturers like Audi, Ford, Continental, Bosch, and Delphi have initiated projects to commercialize autonomous vehicles, whereas non-automotive giants such as Google and Apple are investing in the field, leveraging their communication technology expertise.
Such a drive leads automotive OEMs and Tier-1 suppliers to collaborate with automotive electronics vendors to enhance their electronics and communication capabilities. Furthermore, the market anticipates the launch of numerous autonomous vehicles in the next decade, generating increased demand during the forecast period.
Significant Trends
The trend of utilizing autonomous vehicles for cab and parcel delivery services is a significant trend contributing to the growth of the autonomous vehicle market. Generally, cab and parcel delivery service providers largely depend on vehicles as their primary mode of transportation. Automakers can test their safety and reliability, generating substantial data related to different driving and traffic patterns, road conditions, and other parameters, by subjecting autonomous vehicles to various simulations of real-life scenarios.
For instance, in July 2021, Ford Motor and Argo AI collaborated with Lyft Inc. to launch a self-driving ride-hailing service. The team plans to introduce nearly 100 self-driving hybrid Ford Escape SUVs in Austin and Miami by the end of 2021. Hence, such trends boost market growth during the forecast period.
Major Challenges
High driver distraction with an increase in vehicle automation is the major challenge that may hinder the market growth. There is a rise in the development of semi-autonomous vehicles and the concept of fully autonomous vehicles due to an increase in vehicle automation. But the availability of these systems is leading to higher dependence on them, leading to high driver distraction, which, in turn, increases the chances of accidents while switching from autonomous driving to manual mode, thereby restricting the penetration rate of automation in vehicles globally.
Furthermore, the rising automation gives rise to the need for awareness among users about the limitations of these technologies. Hence, such challenges impede the market growth of the autonomous vehicles market during the forecast period.
What are the key data covered in this Autonomous Vehicles Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the autonomous vehicles market between 2023 and 2027
Precise estimation of the size of the autonomous vehicles market and its contribution to the market with a focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the autonomous vehicles market across North America, Europe, APAC, South America, and Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of autonomous vehicles market vendors
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The HD map for autonomous vehicles market is estimated to grow at a CAGR of 31.48% between 2022 and 2027. The size of the market is forecast to increase by USD 5,384.84 million. This report extensively covers market segmentation by solution (cloud-based and embedded), vehicle type (passenger and commercial), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The rising adoption of cloud-based HD maps is notably driving the market growth.
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Autonomous Vehicles Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 38.45% |
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Market growth 2023-2027 |
USD 319.41 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
37.22 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 37% |
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Key countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AB Volvo, Alphabet Inc., Amazon.com Inc., Baidu Inc., BMW AG, Continental AG, Ford Motor Co., General Motors Co, Honda Motor Co. Ltd, Hyundai Motor Co, Intel Corp., Mercedes Benz Group AG, Navistar International Corp., Renault SAS, Robert Bosch GmbH, Stellantis NV, Tesla Inc., Toyota Motor Corp., and Volkswagen AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
Exhibit 06: Executive Summary – Chart on Market Segmentation by Vehicle Type
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global autonomous vehicles market 2017 – 2021
Exhibit 18: Historic Market Size – Data Table on Global autonomous vehicles market 2017 – 2021 ($ billion)
4.2 Application Segment Analysis 2017 – 2021
Exhibit 19: Historic Market Size – Application Segment 2017 – 2021 ($ billion)
4.3 Vehicle Type Segment Analysis 2017 – 2021
Exhibit 20: Historic Market Size – Vehicle Type Segment 2017 – 2021 ($ billion)
4.4 Geography Segment Analysis 2017 – 2021
Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)
4.5 Country Segment Analysis 2017 – 2021
Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)
5 Five Forces Analysis
5.1 Five forces summary
Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Application
6.1 Market segments
Exhibit 30: Chart on Application – Market share 2022-2027 (%)
Exhibit 31: Data Table on Application – Market share 2022-2027 (%)
6.2 Comparison by Application
Exhibit 32: Chart on Comparison by Application
Exhibit 33: Data Table on Comparison by Application
6.3 Transportation and logistics – Market size and forecast 2022-2027
Exhibit 34: Chart on Transportation and logistics – Market size and forecast 2022-2027 ($ billion)
Exhibit 35: Data Table on Transportation and logistics – Market size and forecast 2022-2027 ($ billion)
Exhibit 36: Chart on Transportation and logistics – Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Transportation and logistics – Year-over-year growth 2022-2027 (%)
6.4 Military and defense – Market size and forecast 2022-2027
Exhibit 38: Chart on Military and defense – Market size and forecast 2022-2027 ($ billion)
Exhibit 39: Data Table on Military and defense – Market size and forecast 2022-2027 ($ billion)
Exhibit 40: Chart on Military and defense – Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Military and defense – Year-over-year growth 2022-2027 (%)
6.5 Market opportunity by Application
Exhibit 42: Market opportunity by Application ($ billion)
7 Market Segmentation by Vehicle Type
7.1 Market segments
Exhibit 43: Chart on Vehicle Type – Market share 2022-2027 (%)
Exhibit 44: Data Table on Vehicle Type – Market share 2022-2027 (%)
7.2 Comparison by Vehicle Type
Exhibit 45: Chart on Comparison by Vehicle Type
Exhibit 46: Data Table on Comparison by Vehicle Type
7.3 Autonomous passenger car sales – Market size and forecast 2022-2027
Exhibit 47: Chart on Autonomous passenger car sales – Market size and forecast 2022-2027 ($ billion)
Exhibit 48: Data Table on Autonomous passenger car sales – Market size and forecast 2022-2027 ($ billion)
Exhibit 49: Chart on Autonomous passenger car sales – Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on Autonomous passenger car sales – Year-over-year growth 2022-2027 (%)
7.4 Autonomous commercial vehicles sales – Market size and forecast 2022-2027
Exhibit 51: Chart on Autonomous commercial vehicles sales – Market size and forecast 2022-2027 ($ billion)
Exhibit 52: Data Table on Autonomous commercial vehicles sales – Market size and forecast 2022-2027 ($ billion)
Exhibit 53: Chart on Autonomous commercial vehicles sales – Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on Autonomous commercial vehicles sales – Year-over-year growth 2022-2027 (%)
7.5 Market opportunity by Vehicle Type
Exhibit 55: Market opportunity by Vehicle Type ($ billion)
8 Customer Landscape
8.1 Customer landscape overview
Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
9.1 Geographic segmentation
Exhibit 57: Chart on Market share by geography 2022-2027 (%)
Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
9.2 Geographic comparison
Exhibit 59: Chart on Geographic comparison
Exhibit 60: Data Table on Geographic comparison
9.3 North America – Market size and forecast 2022-2027
Exhibit 61: Chart on North America – Market size and forecast 2022-2027 ($ billion)
Exhibit 62: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
Exhibit 63: Chart on North America – Year-over-year growth 2022-2027 (%)
Exhibit 64: Data Table on North America – Year-over-year growth 2022-2027 (%)
9.4 Europe – Market size and forecast 2022-2027
Exhibit 65: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
Exhibit 66: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
Exhibit 67: Chart on Europe – Year-over-year growth 2022-2027 (%)
Exhibit 68: Data Table on Europe – Year-over-year growth 2022-2027 (%)
9.5 APAC – Market size and forecast 2022-2027
Exhibit 69: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
Exhibit 70: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
Exhibit 71: Chart on APAC – Year-over-year growth 2022-2027 (%)
Exhibit 72: Data Table on APAC – Year-over-year growth 2022-2027 (%)
9.6 South America – Market size and forecast 2022-2027
Exhibit 73: Chart on South America – Market size and forecast 2022-2027 ($ billion)
Exhibit 74: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
Exhibit 75: Chart on South America – Year-over-year growth 2022-2027 (%)
Exhibit 76: Data Table on South America – Year-over-year growth 2022-2027 (%)
9.7 Middle East and Africa – Market size and forecast 2022-2027
Exhibit 77: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
Exhibit 78: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
Exhibit 79: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
9.8 US – Market size and forecast 2022-2027
Exhibit 81: Chart on US – Market size and forecast 2022-2027 ($ billion)
Exhibit 82: Data Table on US – Market size and forecast 2022-2027 ($ billion)
Exhibit 83: Chart on US – Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on US – Year-over-year growth 2022-2027 (%)
9.9 Germany – Market size and forecast 2022-2027
Exhibit 85: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
Exhibit 86: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
Exhibit 87: Chart on Germany – Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on Germany – Year-over-year growth 2022-2027 (%)
9.10 China – Market size and forecast 2022-2027
Exhibit 89: Chart on China – Market size and forecast 2022-2027 ($ billion)
Exhibit 90: Data Table on China – Market size and forecast 2022-2027 ($ billion)
Exhibit 91: Chart on China – Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on China – Year-over-year growth 2022-2027 (%)
9.11 Japan – Market size and forecast 2022-2027
Exhibit 93: Chart on Japan – Market size and forecast 2022-2027 ($ billion)
Exhibit 94: Data Table on Japan – Market size and forecast 2022-2027 ($ billion)
Exhibit 95: Chart on Japan – Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on Japan – Year-over-year growth 2022-2027 (%)
9.12 France – Market size and forecast 2022-2027
Exhibit 97: Chart on France – Market size and forecast 2022-2027 ($ billion)
Exhibit 98: Data Table on France – Market size and forecast 2022-2027 ($ billion)
Exhibit 99: Chart on France – Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on France – Year-over-year growth 2022-2027 (%)
9.13 Market opportunity by geography
Exhibit 101: Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 102: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 104: Overview on factors of disruption
11.4 Industry risks
Exhibit 105: Impact of key risks on business
12 Vendor Analysis
12.1 Vendors covered
Exhibit 106: Vendors covered
12.2 Market positioning of vendors
Exhibit 107: Matrix on vendor position and classification
12.3 AB Volvo
Exhibit 108: AB Volvo – Overview
Exhibit 109: AB Volvo – Business segments
Exhibit 110: AB Volvo – Key offerings
Exhibit 111: AB Volvo – Segment focus
12.4 Alphabet Inc.
Exhibit 112: Alphabet Inc. – Overview
Exhibit 113: Alphabet Inc. – Business segments
Exhibit 114: Alphabet Inc. – Key news
Exhibit 115: Alphabet Inc. – Key offerings
Exhibit 116: Alphabet Inc. – Segment focus
12.5 Baidu Inc.
Exhibit 117: Baidu Inc. – Overview
Exhibit 118: Baidu Inc. – Business segments
Exhibit 119: Baidu Inc. – Key offerings
Exhibit 120: Baidu Inc. – Segment focus
12.6 BMW AG
Exhibit 121: BMW AG – Overview
Exhibit 122: BMW AG – Business segments
Exhibit 123: BMW AG – Key offerings
Exhibit 124: BMW AG – Segment focus
12.7 Continental AG
Exhibit 125: Continental AG – Overview
Exhibit 126: Continental AG – Business segments
Exhibit 127: Continental AG – Key offerings
Exhibit 128: Continental AG – Segment focus
12.8 Ford Motor Co.
Exhibit 129: Ford Motor Co. – Overview
Exhibit 130: Ford Motor Co. – Business segments
Exhibit 131: Ford Motor Co. – Key news
Exhibit 132: Ford Motor Co. – Key offerings
Exhibit 133: Ford Motor Co. – Segment focus
12.9 General Motors Co
Exhibit 134: General Motors Co – Overview
Exhibit 135: General Motors Co – Business segments
Exhibit 136: General Motors Co – Key news
Exhibit 137: General Motors Co – Key offerings
Exhibit 138: General Motors Co – Segment focus
12.10 Honda Motor Co. Ltd
Exhibit 139: Honda Motor Co. Ltd – Overview
Exhibit 140: Honda Motor Co. Ltd – Business segments
Exhibit 141: Honda Motor Co. Ltd – Key news
Exhibit 142: Honda Motor Co. Ltd – Key offerings
Exhibit 143: Honda Motor Co. Ltd – Segment focus
12.11 Hyundai Motor Co
Exhibit 144: Hyundai Motor Co – Overview
Exhibit 145: Hyundai Motor Co – Business segments
Exhibit 146: Hyundai Motor Co – Key news
Exhibit 147: Hyundai Motor Co – Key offerings
Exhibit 148: Hyundai Motor Co – Segment focus
12.12 Intel Corp.
Exhibit 149: Intel Corp. – Overview
Exhibit 150: Intel Corp. – Business segments
Exhibit 151: Intel Corp. – Key news
Exhibit 152: Intel Corp. – Key offerings
Exhibit 153: Intel Corp. – Segment focus
12.13 Mercedes Benz Group AG
Exhibit 154: Mercedes Benz Group AG – Overview
Exhibit 155: Mercedes Benz Group AG – Business segments
Exhibit 156: Mercedes Benz Group AG – Key offerings
Exhibit 157: Mercedes Benz Group AG – Segment focus
12.14 Navistar International Corp.
Exhibit 158: Navistar International Corp. – Overview
Exhibit 159: Navistar International Corp. – Business segments
Exhibit 160: Navistar International Corp. – Key offerings
Exhibit 161: Navistar International Corp. – Segment focus
12.15 Renault SAS
Exhibit 162: Renault SAS – Overview
Exhibit 163: Renault SAS – Product / Service
Exhibit 164: Renault SAS – Key news
Exhibit 165: Renault SAS – Key offerings
12.16 Robert Bosch GmbH
Exhibit 166: Robert Bosch GmbH – Overview
Exhibit 167: Robert Bosch GmbH – Business segments
Exhibit 168: Robert Bosch GmbH – Key news
Exhibit 169: Robert Bosch GmbH – Key offerings
Exhibit 170: Robert Bosch GmbH – Segment focus
12.17 Volkswagen AG
Exhibit 171: Volkswagen AG – Overview
Exhibit 172: Volkswagen AG – Business segments
Exhibit 173: Volkswagen AG – Key offerings
Exhibit 174: Volkswagen AG – Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 175: Inclusions checklist
Exhibit 176: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 177: Currency conversion rates for US$
13.4 Research methodology
Exhibit 178: Research methodology
Exhibit 179: Validation techniques employed for market sizing
Exhibit 180: Information sources
13.5 List of abbreviations
Exhibit 181: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Email: [email protected]
Website: www.technavio.com
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