How big is the Autonomous (Driverless) Car Market?

The Autonomous (Driverless) Car Market size is expected to reach USD 41.10 billion in 2024 and grow at a CAGR of 22.75% to reach USD 114.54 billion by 2029. Read More

What is the current Autonomous (Driverless) Car Market size?

In 2024, the Autonomous (Driverless) Car Market size is expected to reach USD 41.10 billion. Read More

Who are the key players in Autonomous (Driverless) Car Market?

Volkswagen AG, Toyota Motor Corporation, General Motors Company, Daimler AG and Nissan Motor Co., Ltd. are the major companies operating in the Autonomous (Driverless) Car Market. Read More

Which is the fastest growing region in Autonomous (Driverless) Car Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Autonomous (Driverless) Car Market?

In 2024, the North America accounts for the largest market share in Autonomous (Driverless) Car Market. Read More

What years does this Autonomous (Driverless) Car Market cover, and what was the market size in 2023?

In 2023, the Autonomous (Driverless) Car Market size was estimated at USD 33.48 billion. The report covers the Autonomous (Driverless) Car Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Autonomous (Driverless) Car Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What technological trends are shaping the Autonomous Vehicles Market?

Artificial Intelligence (AI), Machine learning (ML), Internet of Things (IoT), and advancements in sensor technology are key trends driving the development of more sophisticated autonomous vehicles. Read More

Autonomous (Driverless) Car Market Size | Industry Growth & Forecast Report

Autonomous Vehicle Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The autonomous vehicle market is experiencing significant technological advancements, focusing on improving road safety and smartphone integration. Currently, Level 2 and Level 3 driverless cars dominate, but Level 4 and Level 5 vehicles are expected to gain wider acceptance. North America is a key player, with substantial investment in robotic car technology, while the Asia-Pacific region is seeing growth in demand for unmanned vehicles. The industry is moderately consolidated, with increased partnerships and investments towards developing driverless vehicle technology.

Autonomous Vehicle Industry Overview

The autonomous (driverless) car market is a moderately consolidated one. Apart from manufacturers, players, including hardware and software firms, have started focusing on catering to the growing demand for autonomous driving technology in the automotive sector. Thus, partnerships, collaborations, and investments toward developing autonomous vehicles have increased significantly in the automotive sector. These initiatives are likely to continue growing during the forecast period, primarily due to increasing support from governments and private sectors across several countries to promote autonomous driving vehicle technology.

In January 2021, Automotive Grade Linux announced that it had included Aicas, AVL, and Citos as new bronze members. AGL is an open-source project at the Linux Foundation that brings together automakers, suppliers, and technology companies to accelerate the development of all vehicle technologies, including autonomous driving.

In January 2021, automotive technology company Veoneer Inc. and Qualcomm Technologies Inc. signed an agreement under which the companies will collaborate on delivering scalable Advanced Driver Assistance Systems (ADAS) and Collaborative and Autonomous Driving (AD) solutions.

Some of the leading companies in the autonomous (driverless) car market include Volkswagen, Toyota Motor Corporation, General Motors Company, Ford Motor Company, Nissan Motor Company Ltd, Daimler AG (Mercedes-Benz), BMW, Volvo Cars, and Tesla Inc.