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Autonomous Vehicle Market 2022 Growth Statistics, Revenue Estimates, Industry Size, Global Share, Emerging Trends, Top Leading Players with Strategies and Forecast 2030

The autonomous vehicle market will grow at a compound annual growth rate (CAGR) of more than 18% during the forecast period from 2022-2030. The autonomous vehicle market is attributed to growth, owing to the escalating development of an autonomous fleet of parcel and cab delivery services.

Moreover, autonomous vehicles emit less harmful gases like carbon dioxide, which is forecast to boost their adoption in the market.

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Apart from that, IoT advancements and the integration of AI technology in the automotive industry would rapidly boost the demands of autonomous vehicles. HD maps are playing another favorable role in the growth of autonomous vehicles. In addition, IoT(Internet Of Things) enhances vehicle performance. It also reduces the safety concerns associated with traditional methods.

Advancements in mobility-as-a-service (MaaS), rapid extension in infrastructure, and advanced safety measures would drive the growth of the global autonomous vehicle market. Apart from that, consumer electronics companies, software vendors, automobile manufacturers, and telecom operators have been witnessing significant growth, owing to the integration of the Internet of Things (IoT) and other beneficial features. Such advancements are gaining huge traction because of the coordination with road infrastructure and real-time alert facilities.

However, Cyber threat cases and data concerns related to autonomous vehicles are forecast to slow down the growth of the market during the forecast period.

Geographic Overview

Geographically, North America is leading by acquiring the maximum share in the global autonomous vehicle market. The region is anticipated to present maximum contribution throughout the analysis period.

The developed economies are playing a significant role in driving the growth of the global autonomous vehicle market. Moreover, several countries such as the U.S., Canada, and Mexico are rapidly adopting digital infrastructure to enhance road safety solutions and decline traffic congestion. Moreover, growing investments in high-end infrastructure are forecast to boost the growth of the regional market.

Apart from that, the Asia-Pacific region is expected to contribute with the highest CAGR during the forecast period. Various government organizations are adopting electric vehicles. Furthermore, the growing demand for parcel delivery services and an autonomous fleet of cabs would boost the contribution of the region to the growth of the global market.

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COVID-19 Impact Analysis

The COVID-19 impacted the entire automotive sector by declining the overall trade. As a result, the epidemic had widely interrupted the supply chain. Various companies had to limit their activities owing to the declining work workforce and unavailability of raw material.

The global autonomous vehicle market witnessed a severe decline in growth as people were eliminating the purchase of less necessary items. It raised various concerns and impacted the overall market during the pandemic.

However, market players are figuring out innovative ways to recover with the same growth.

Competition in the Market

General Motors (United States)

Ford Motor Company (United States)

AUDI AG (Germany)

BMW Group (Germany)

Daimler AG (Germany)

FCA Italy S.p.A (Europe)

MAN SE (Germany)

Nissan Motor Co.Ltd (Japan)

Tesla, Inc. (United States)

Toyota Motor Corporation (Japan)

Zoox Inc. (United States)

Volkswagen AG (Germany)

Volvo Group (Europe)

Waymo LLC. (United States)

Other prominent players

Market Segmentation

By Level

Level 1

Level 2

Level 3

Level 4

Level 5

By Vehicle Type

Commercial

Passengers

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By Region

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

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Updated : 2022-05-23 14:21 GMT+08:00