Global Self-Driving Car Market ($65330 Mn by 2030) Growth Forecasts at 13.90% CAGR During (2023-2030)

Market Overview:

The Global Self-Driving Car Market size is expected to grow from USD 26270 Million in 2023 to USD 65330 Million by 2030, at a CAGR of 13.90% during the forecast period (2023-2030).

A self-driving car, sometimes referred to as an autonomous car, driverless car, or robotic automobile (robo-car), is a vehicle that can move without human control. Demand for these vehicles is rising across the automotive and other industries. A vehicle that can sense its surroundings and function without human intervention is autonomous. There is no requirement for a human passenger to operate the car at any moment or even to be inside the vehicle at all. An autonomous vehicle can go anywhere a traditional vehicle can go and can perform any task that a skilled human driver can. Rapid Improvement in the Sensor -Processing technologies, high-definition mapping, adaptive algorithms, and the deployment of infrastructure-to-vehicles and vehicle-to-vehicle communication technologies are encouraging several companies to expand their production capabilities and take vehicle automation to the next level.

Top Key Players in Self-Driving Car Market:

Waymo LLC (USA), Tesla (USA), General Motors (USA), Ford (USA), BMW (Germany), Volkswagen (Germany), Mercedes-Benz (Germany), Audi (Germany), Toyota (Japan), Honda (Japan), Lyft (USA), Aptiv (Ireland), Nvidia (USA), Intel (USA), Mobileye (Israel), Continental (Germany), ZF Friedrichshafen AG (Germany), Bosch (Germany), Magna International (Canada), and Other Major Players

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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.

Market Dynamics and Factors for Self-Driving Car Market:

Drivers:

Technological Advancement Rise the Self-Driving Car Market

Self-driving cars rely on a variety of sensors, including cameras, radar, and lidar, to perceive their environment. Advances in sensor technology are making it possible for self-driving cars to accurately detect and interpret their surroundings, which improves their ability to make driving decisions in real-time. Furthermore, Self-driving cars use machine learning algorithms and artificial intelligence to process data from their sensors and make driving decisions. As these technologies continue to improve, self-driving cars are becoming more reliable and safer.

Opportunities:

Opportunities in The Logistic Companies

Logistics companies can use self-driving vehicles for delivery services, reducing the need for human drivers and increasing delivery speed and accuracy Logistics companies can also use self-driving trucks for transportation services, reducing labor costs and improving safety and efficiency on the roads. Logistics companies can use self-driving trucks to reduce the cost and time of shipping goods, particularly over long distances. Overall, logistics companies have significant opportunities in the self-driving car market and can leverage this technology to increase efficiency, reduce costs, and improve safety in the logistics industry.

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Segmentation Analysis of the Self-Driving Car Market:

By Type, the Semi-Autonomous segment had the largest market share in 2021, Semi-autonomous vehicles are more affordable and easier to implement. Regulations and laws governing autonomous vehicles are still evolving, making it difficult for fully autonomous vehicles to operate in many areas.

By Vehicle Type, Passenger Cars is likely to dominate in this area. A passenger car is any car designed for carrying fewer than ten people. SUVs are more than three times more likely to roll over in a crash than a normal passenger car. This was a vehicle designed to be a practical passenger car as well as a versatile cargo handler.

By Type

·       Fully Autonomous

·       Semi-Autonomous

By Vehicle Type

·       Passenger Cars

·       Commercial Vehicles

By Application

·       Transportation

·       Defense

By Electric Vehicles 

·       BEV

·       HEV

·       PHEV

·       FCEV

By Component

·       Camera Unit

·       Lidar

·       Radar Sensor

·       Ultrasonic Sensor

·       Infrared Sensor

By Level of Autonomy

·       L1

·       L2

·       L3

·       L4

·       L5

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Regional Analysis of the Self-Driving Car Market:

Asia Pacific is Expected to Dominate the Market Over the Forecast Period. The Asia Pacific region has some of the highest population densities in the world, making it an attractive market for self-driving cars, which can help to reduce congestion on the roads. Governments in the Asia Pacific region have been proactive in supporting the development and deployment of self-driving cars, providing funding, regulatory frameworks, and other incentives to promote innovation in this field.

Key Industry Development:

In January 2023, TCS Evolving Tech for EVs, Self-Driving Cars. Tata Consultancy Services has trained and tested its cloud-based self-driving vehicle platform using over 300,000 kilometers of real-time vehicle data across different geographies to help OEMs power their next-generation vehicles onto roads.

In January 2023, Mercedes beats Tesla in self-driving, becoming the first certified Level-3 autonomous car company in the U.S. The race is on for auto-manufacturing companies to become the first ones to develop and implement a high level of autonomy in their cars.

By Region          

·       North America (U.S., Canada, Mexico)

·       Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

·       Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

·       Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)

·       Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)

·       South America (Brazil, Argentina, Rest of SA)

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