North America's Autonomous Car Market to 2030: Projecting to Garner $52.3 Billion, Driven by the Evolution in Connected Car Technology

Dublin, July 24, 2019 (GLOBE NEWSWIRE) -- The "North American Autonomous Car Market Research Report: By Vehicle Autonomy, Vehicle Type, Application, Regional Insight - Industry Trend, Competition Analysis and Forecast to 2030" report has been added to's offering.

The North American fully autonomous car market is projected to grow at a 17.1% CAGR during 2023-2030, garnering $52.3 billion by 2030.

The contributing factors in the market growth are the need for safe and efficient driving options, evolution in the connected car technology, increasing research and development in the autonomous car sector, and government support for these cars in terms of policies and rebates.

The North American autonomous car market has been subdivided into internal combustion engine (ICE), battery electric vehicle (BEV), and hybrid electric vehicle (HEV), based on vehicle type. Among these, during the forecast period, BEV is expected to be the fastest growing category. As compared to other vehicle types, the integration of the fully autonomous technology is easier in BEVs. These cars offer smoother connectivity among electrical components when compared to conventional and hybrid cars.

Based on vehicle autonomy, the categories of the North American autonomous market are fully autonomous and semi-autonomous cars. The market, during the historical period, was dominated by the semi-autonomous category. In terms of volume, over 95% market share was held by level-1 semi-autonomous cars that also led the semi-autonomous car market of the U.S. in 2018. The mandate of many governments across the world to incorporate the necessary safety features is adding to the market growth. For instance, the use of electronic stability control in all passenger vehicles being produced since 2012 is mandated by the National Highway Traffic Safety Administration.

In 2018, higher sales volume and larger revenue share in the North American autonomous car market were achieved by the U.S. The presence of original equipment manufacturers, involved in the launch of new car models with advanced automation level, in large numbers and a strong customer base added to this country's market growth.

Increasing collaborations and partnerships among key players in the North American autonomous car market are the current trend. As the designing, manufacturing, and testing of an autonomous automobile is an expensive affair, many companies are keenly opting for mergers and collaborations to minimize financial risks. For instance, to acquire autonomous technology, established manufacturers are increasingly collaborating with start-ups. Further, companies are also collaborating with various service providers to test the viability of autonomous cars. In 2018, Ford Motor Company partnered with Walmart Inc. to test self-driving cars for consumer goods and grocery delivery.

Unlike conventional cars, the unique features offered by connected cars, such as real-time traffic monitoring, smartphone connectivity with vehicles, traffic and collision warnings, and roadside assistance, are adding to the growing demand for these cars in North America. The North American autonomous car market is witnessing growth due to the rapid digitization in connected cars, which is adding to their demand. The two necessary components of vehicle autonomy - vehicle-to-vehicle and vehicle-to-infrastructure connectivity - can be more easily integrated in connected cars than conventional ones.

Key Topics Covered

Chapter 1. Research Background

Chapter 2. Research Methodology

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Vehicle Autonomy Semi-autonomous car Level 1 Level 2 Level 3 Fully autonomous car Level 4 Level 5
4.1.2 By Vehicle Type ICE HEV BEV
4.1.3 By Application Personal Commercial
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends Increasing number of collaborations and partnerships Integration of AI in autonomous cars
4.3.2 Drivers Evolution in connected and electric car technologies Increasing R&D activities for development of autonomous cars Need for an efficient and safe driving option Federal- and state-level support ensuring growth of autonomous cars Impact analysis of drivers on market forecast
4.3.3 Restraints Data handling challenges Higher manufacturing cost of autonomous cars Cyber-attacks pose concerns for autonomous cars Impact analysis of restraints on market forecast
4.3.4 Opportunities Autonomous cars as a means of mobility service
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Intensity of Rivalry
4.4.4 Threat of New Entrants
4.4.5 Threat of Substitutes
4.5 Pilot Projects in North America
4.6 Regulatory Framework for Autonomous Vehicles
4.6.1 Overview
4.6.2 State-Level Initiatives in the U.S.
4.6.3 State-Level Initiatives in Canada

Chapter 5. North America Market Size and Forecast
5.1 By Vehicle Autonomy
5.1.1 Semi-Autonomous Car Market, by Automation Level
5.1.2 Fully Autonomous Car Market, by Automation Level
5.2 By Vehicle Type
5.3 By Application
5.4 By Country

Chapter 6. U.S. Market Size and Forecast
6.1 By Vehicle Autonomy
6.1.1 Semi-Autonomous Car Market, by Automation Level
6.1.2 Fully Autonomous Car Market, by Automation Level
6.2 By Vehicle Type
6.3 By Application

Chapter 7. Canada Market Size and Forecast
7.1 By Vehicle Autonomy
7.1.1 Semi-Autonomous Car Market, by Automation Level
7.1.2 Fully Autonomous Car Market, by Automation Level
7.2 By Vehicle Type
7.3 By Application

Chapter 8. Competitive Landscape
8.1 Market Share Analysis of Key OEMs
8.2 Competitive Benchmarking of OEMs
8.3 Competitive Benchmarking of Component Manufacturers
8.4 Strategic Developments of Key Players
8.4.1 Product & Service Launches
8.4.2 Partnerships
8.4.3 Mergers & Acquisitions
8.4.4 Facility Expansions
8.4.5 Client Wins
8.4.6 Other Developments

Chapter 9. Company Profiles of OEMS
9.1 Volkswagen Group
9.1.1 Business Overview
9.1.2 Product & Service Offerings
9.1.3 Key Financial Summary
9.1.4 SWOT Analysis
9.2 Tesla Inc.
9.3 Daimler AG
9.4 BMW Group
9.5 General Motors Company
9.6 Fiat Chrysler Automobiles N.V.
9.7 Ford Motor Company
9.8 Toyota Motor Corporation
9.9 Honda Motor Company Limited
9.10 Hyundai Motor Company

Chapter 10. Company Profiles of Suppliers
10.1 Robert Bosch GmbH
10.1.1 Business Overview
10.1.2 Product & Service Offerings
10.1.3 Key Financial Summary
10.1.4 SWOT Analysis
10.2 Continental AG
10.3 DENSO Corporation
10.4 Aptiv PLC
10.5 Infineon Technologies AG

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