New Market Analysis Reveals Sweeping Growth in Autonomous Vehicle Sector Projected Through 2034

Dublin, May 27, 2024 (GLOBE NEWSWIRE) -- The "Autonomous Vehicle Market Report 2024-2034" has been added to's offering.

Overall world revenue for the Autonomous Vehicle Market will surpass US$43.27 billion in 2024, with strong revenue growth through to 2034.

One of the Primary Drivers Propelling the Autonomous Vehicle Market Is the Relentless Pursuit of Safety and Efficiency.

The autonomous vehicle market continues to experience rapid growth driven by advancements in technology, shifting consumer preferences, and increasing investments from both established automotive manufacturers and tech giants. With the promise of safer, more efficient transportation, autonomous vehicles are poised to revolutionize the way people and goods move globally.

With autonomous vehicles equipped with advanced sensors and artificial intelligence, the potential to reduce accidents caused by human error is substantial. Additionally, the prospect of increased mobility for the elderly and disabled populations presents a significant societal benefit. Moreover, the growing demand for ride-sharing and mobility-as-a-service (MaaS) platforms further fuels the adoption of autonomous vehicles.

The autonomous vehicle market offers numerous opportunities for innovation and collaboration. Advancements in sensor technology, machine learning algorithms, and connectivity solutions present avenues for enhancing vehicle autonomy and intelligence. Furthermore, the integration of autonomous vehicles into smart city infrastructures opens doors for seamless transportation systems and optimized traffic flow. Additionally, partnerships between automotive manufacturers, technology companies, and government entities can drive regulatory frameworks and infrastructure development conducive to widespread adoption.

Lack of Required Infrastructure in Emerging Countries Hinder the Market Growth

One significant restraining factor impacting the growth of the autonomous vehicle market is the lack of required infrastructure in emerging countries. While developed nations have been making strides in upgrading their infrastructure to accommodate autonomous vehicles, many emerging economies are lagging behind in this regard. In emerging countries, the infrastructure necessary to support autonomous vehicles, such as advanced road networks, intelligent transportation systems, and robust communication networks, is often inadequate or underdeveloped. This infrastructure deficit poses several challenges for the widespread adoption of autonomous vehicles.

Key Market Dynamics

Market Driving Factors

  • Adaptation of Autonomous Vehicles Driving the Market Growth
  • Growth in Connected Vehicle Technology and Dynamics Mobility Application
  • Growing Demand for Driving Assistance System Driving the Market Growth

Market Restraining Factors

  • Lack of Required Infrastructure in Emerging Countries Hinder the Market Growth
  • Consumer Acceptance of Self-Driving Cars Hinder the Market Growth
  • High System and Component Cost Hinder the Market Growth

Market Opportunities

  • Increasing Adaption of New Technology in Autonomous Vehicles Opportunity for the Market
  • Expansion of Businesses Opportunities for the Market
  • Collaboration and Partnership Between Market Players Opportunities for the Market Growth

Forecasts to 2034 and other analyses reveal commercial prospects

  • In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
  • You will find original analyses, with business outlooks and developments.
  • Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising autonomous vehicle prices and recent developments.

Report Segmentation

Market Segment by Component

  • Hardware
  • Software

Market Segment by Vehicle Type

  • Passenger Vehicles
  • Commercial Vehicles
  • Special Purpose Vehicles

Market Segment by Technology

  • Sensors and Perception Systems
  • Computing and Processing Units
  • Connectivity Solutions
  • Software Platforms

Market Segment by Level of Autonomy

  • Level 1: Driver Assistance
  • Level 2: Partial Automation
  • Level 3: Conditional Automation
  • Level 4: High Automation
  • Level 5: Full Automation

Market Segment by System

  • Adaptive Cruise Control (ACC)
  • Driver Monitoring System (DMS)
  • Forward Collision Warning (FCW)
  • Lane Departure Warning (LDW)
  • Pedestrian Detection System (PDS)
  • Other Systems

In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.

The report also includes profiles and for some of the leading companies in the Autonomous Vehicle Market, 2024 to 2034, with a focus on this segment of these companies' operations.

Leading companies and the potential for market growth

  • Aisin
  • AutoX Technologies
  • Denso
  • Einride
  • Ford Motor
  • General Motors
  • Hyundai Mobis
  • Infineon Technologies
  • Mercedes-Benz
  • Mobileye Global
  • Nuro
  • Tesla
  • Toyota Motor
  • Volkswagen

In summary, the report provides you with the following knowledge:

  • Revenue forecasts to 2034 for Autonomous Vehicle Market, with forecasts for component, vehicle type, technology, level of autonomy, and system, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
  • Revenue forecasts to 2034 for four regional and 20 key national markets. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
  • Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Autonomous Vehicle Market.

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