DUBLIN--(BUSINESS WIRE)--The "Autonomous Vehicles Market Size, Share & Trends Analysis Report By Application (Transportation, Defense), By Region and Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global autonomous vehicles market demand is expected to reach 3,195.5 thousand units by 2030. The market is projected to expand at a CAGR of 46.8% from 2023 to 2030.

The significant advancements in technology, such as sensor processing, adaptive algorithms, high processing maps, and enhanced AI, have contributed to companies increasing their production capacity and taking the autonomous vehicle market to the next level.

Several technology providers such as Google LLC and Tesla Motors have also entered the market and have contributed toward the research and development of autonomous vehicles. The automobile industry is dynamic and changes with advancements in technologies. Several major players in the industry, such as General Motors Company, Volkswagen AG, Mercedes-Benz, BMW AG, and others, invest a significant part of their revenue toward researching and developing technologies.

Currently, there is a growing trend of autonomous vehicles in the automotive industry, thus attracting larger investments in developing these vehicles. Also, governments in the U.K have granted permission to test autonomous cars on public roads. Furthermore, Switzerland's Federal Department of Environment, Transport, Energy, and Communications has permitted driverless testing on Zurich streets. Governments of different nations have taken the initiative to promote autonomous vehicles.

For instance, in January 2021, the U.S. Department of Transportation (USDOT) released its comprehensive plan for automated vehicles. This is initiated to advance the department's work, prioritizing safety and preparing for a smooth transportation system for autonomous vehicles. The initiative also promotes collaboration and transparency in the Automated Driving Systems (ADS).

The market has been segmented, based on application, into transportation and defense. The transportation segment is expected to have a higher market share; however, the defense segment is expected to portray the highest growth during the projection period. The North American region accounted for the largest share of the market in 2022. The demand for autonomous vehicles is expected to increase during the forecast period, in line with rising government regulations and increased acceptance of self-driving vehicles in the U.S.

Autonomous Vehicles Market Report Highlights

  • The demand for autonomous vehicles is expected to grow owing to the rising number of regulations laid down by the governments of various developed and developing nations
  • Transportation type segment, the industrial segment is estimated to grow at a high CAGR in the forecast period.
  • The defense segment is expected to grow at the fastest CAGR of 65.0% during the forecast period
  • South America is projected to demonstrate growth at the fastest CAGR of 75.3% over the forecast period

Key Attributes:

Report Attribute Details
No. of Pages 100
Forecast Period 2022 - 2030
Estimated Market Value (USD) in 2022 $103.4 Thousand Units
Forecasted Market Value (USD) by 2030 $3195.5 Thousand Units
Compound Annual Growth Rate 46.8%
Regions Covered Global


Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Autonomous Vehicles Market Variables, Trends & Scope

3.1. Market Lineage Outlook

3.2. Industry Value Chain Analysis

3.3. Market Dynamics

3.4. Autonomous Vehicles Market Analysis Tools

3.4.1. Industry Analysis - Porter's

3.4.2. PESTEL analysis

Chapter 4. Autonomous Vehicles Market: Application Estimates & Trend Analysis

4.1. Autonomous Vehicles Market: Key Takeaways

4.2. Autonomous Vehicles Market: Movement & Market Share Analysis, 2022 & 2030

4.3. Transportation Industrial Commercial

4.4. Defense

Chapter 5. Autonomous Vehicles Market: Regional Estimates & Trend Analysis

5.1. Regional Outlook

5.2. Autonomous Vehicles Market by Region: Key Takeaway

Chapter 6. Competitive Landscape

6.1. Recent Developments & Impact Analysis, By Key Market Participants

6.2. Market Participant Categorization

  • Audi
  • Mercedes-Benz Group
  • BMW
  • Google
  • Ford Motor
  • General Motors
  • Honda Motor
  • Tesla
  • Toyota
  • Nissan Motor
  • Uber Technologies
  • Volvo Car
  • Volkswagen Group

For more information about this report visit https://www.researchandmarkets.com/r/bbhajc

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