Self-Driving Cars Market - Global Forecast to 2030 | MarketsandMarkets

The global Self-driving Cars Market size is projected to grow from 20.3 million units in 2021 to 62.4 million units by 2030, at a CAGR of 13.3%.

The increasing adoption of ADAS & safety features, the focus of governments to enhance vehicle and pedestrian safety, initiatives by OEMs to provide advanced safety features, and the advent of new-age technologies will surge the demand for self-driving cars.

Browse 335 market data Tables and 73 Figures spread through 397 Pages and in-depth TOC on the "Self-driving Cars Market"

The self-driving cars market is dominated by global players such as General Motors (US), Ford (US), Daimler (Germany), Volkswagen (Germany), Toyota (Japan), and Waymo (US).

Opportunity: Increasing developments in autonomous shared mobility

Self-driving cars can operate with little or no human intervention. These vehicles are being developed for a reduction in accidents caused due to human errors, reduction in traffic congestion, and hassle-free transport. The development of autonomous vehicles will fuel the growth of ride-sharing. According to the Future of Driving report from Ohio University, with the use of taxis, the waiting time for a cab would come down from an average of 5 minutes to just 36 seconds. With autonomous ride-sharing, the cost of a ride would come down to just USD 0.5 per mile. For example, according to secondary research, Uber's per ride charges are ~USD 2/mile, of which Uber takes ~50 cents, and USD 1.50 is with the driver. For an autonomous car or robot taxi instead of a driver-driven car, Uber can straightaway charge a customer ~USD 1 per mile and earn additional ~50 cents per mile. However, the overhead costs such as the maintenance of a car, navigation, and payment services would be a part of it. Self-driving cars would also solve the problem of the first and last mile.

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The Asia Pacific region is projected to be the fastest-growing self-driving cars market, by 2030

The Asia Pacific is expected to account for the largest market share by 2030, followed by Europe and North America. Increasing demand for a safe, efficient, and convenient driving experience; rising disposable income in emerging economies; and stringent safety regulations across the globe are factors driving the self-driving cars market. The market in the Asia Pacific is expected to grow at the highest rate during the forecast period owing to increased partnerships adopted by self-driving cars technology providers in this region. For example, Baidu is a major service provider of self-driving technology in China. This company has already successfully test-driven more than 1 million miles in more than 13 Chinese cities. It is partnering with Ford and NVIDIA to increase investments in self-driving vehicles in China. The Asia Pacific also has one of the largest ride-sharing industries.

Asia Oceania region comprises countries such as China, Japan, India, South Korea and Thailand. In recent years, China has emerged as a hub for automobile production. Infrastructural developments and industrialization activities in emerging economies have opened new avenues, creating several opportunities for automotive OEMs. The growing technological advancements in China have increased the demand for semi-autonomous vehicles, which is going to increase the market for self-driving cars.

The sedan is expected to be the largest segment in the self-driving cars market

Currently, most semi-autonomous cars models are available in sedan types. Most level 2, level 3, and level 4 car developments too are focused on sedan segments. For example, Mercedes-Benz, the German OEM deployed its V-class sedan equipped with Baidu Apollo for extensive testing at the National Pilot Zone (Beijing and Hebei). In March 2021, Honda launched the first level 3 semi-autonomous car for the Japanese market. The car is a luxury sedan type that operates without the driver's supervision under certain conditions. Thus, considering the developments and focus on sedan type, the segment would continue to lead the market.

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This research report categorizes the self-driving cars market based on component, mobility type, electric vehicle, system, level of autonomy, vehicle type, and region.

Self-Driving Cars Market, Based on Component:-

1. Camera Unit
2. LiDAR
3. Radar Sensor
4. Ultrasonic Sensor
5. Infrared Sensor

Self-Driving Cars Market, Based on Mobility Type:-

1. Shared Mobility
2. Personal Mobility

Self-Driving Cars Market, Based on Electric Vehicle:-

1. Battery Electric Vehicles (BEV)
2. Hybrid Electric Vehicles (HEV)
3. Plug-in Hybrid Electric Vehicle (PHEV)
4. Fuel Cell Electric Vehicle (FCEV)

Self-Driving Cars Market, Based on System:-

1. Adaptive Cruise Control (ACC)
2. Adaptive Front Light (AFL)
3. Automatic Emergency Braking (AEB)
4. Blind Spot Detection (BSD)
5. Cross-Traffic Alert (CTA)
6. Driver Monitoring System (DMS)
7. Forward Collision Warning (FCW)
8. Intelligent Park Assist (IPA)
9. Lane Departure Warning (LDW)
10. Night Vision System (NVS)
11. Pedestrian Detection System (PDS)
12. Road Sign Recognition (RSR)
13. Tire Pressure Monitoring System (TPMS)
14. Traffic Jam Assist (TJA)

Self-Driving Cars Market, Based on Level of Autonomy:-

1. L1
2. L2
3. L3
4. L4
5. L5

Self-Driving Cars Market, Based on Vehicle Type:-

1. Hatchback
2. Coupe & Sports Car
3. Sedan
4. SUV
5. Others

Self-Driving Cars Market, Based on the Region:-

The Asia Pacific:

~ China
~ India
~ Japan
~ South Korea
~ Thailand
~ Rest of Asia Pacific

North America:

~ The US
~ Canada
~ Mexico

Europe:

~ France
~ Germany
~ Russia
~ Italy
~ Spain
~ Turkey
~ the UK
~ Rest of Europe

Rest of the World:

~ Brazil
~ South Africa
~ Others in RoW

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