The Global Autonomous Vehicle Market size was valued at USD 54.21 billion in 2019 and is
predicted to reach USD 2,044.93 billion by 2030, with a CAGR of 39.1% from 2020-2030.
Furthermore, the global sale of autonomous vehicles was valued at 1.4 million units in 2019
and is projected an elevation up-to 58 million units by 2030, with a CAGR of 40.3% by 2020-
2030. Light detection and ranging, radio detection and ranging, AI, IoT, along with the
integration of advanced technologies, software systems and hardware systems; results in
automatically operated, self-driving vehicles that function without human intervention. With
trajectory control, motion planning, and creation of 3D map of the surroundings; automotive
vehicles such as car, bus, truck and other ground vehicles can be automated up to Level 3,
Level 4, and Level 5.
Market Segmentations and Scope of the Study:
The global autonomous vehicle market share has been analyzed based on automation level,
component, application, and geography. Based on automation level, the market is segmented
into level 3, level 4, and level 5. Based on component, the market is fragmented into hardware,
service, and software. Based on application, the market is divided into civil, robo-taxi, ride hail,
ride share, self-driving truck, and self-driving bus. Geographic breakdown and analysis of each
of the previously mentioned segments includes regions comprising North America, Europe,
Asia-Pacific, and RoW.
North America dominated the global autonomous vehicle market in the past and is expected
to maintain its dominance throughout the forecast period. This is attributed to higher adoption
of autonomous vehicle
in this region, well-established automotive manufacturing
infrastructures, presence of key manufacturers, stringent traffic regulations, adoption of
advanced technologies, well-developed system of road network, and evolution of fully