Press release
L3 Self-driving Vehicle Market Revenue Share, Insights & Future Outlook
What Is the Growth Forecast for the Global L3 Self-driving Vehicle Market by 2031?The global market for L3 Self-driving Vehicles was valued at US$ million in 2024 and is projected to reach US$ million by 2031, growing at a CAGR of % during the forecast period.
The automotive industry is a key driver of this market. According to the World Automobile Organization (OICA), global automobile production and sales peaked in 2017 at 97.3 million and 95.89 million vehicles respectively. Economic fluctuations in subsequent years affected global auto sales, with 81.6 million vehicles produced in 2022.
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How Is the L3 Self-driving Vehicle Market Segmented by Type and Application?
By Type
• Sedan
• SUV
By Application
• Home Use
• Commercial Use
This segmentation provides insights into consumer preferences and commercial adoption trends for Level 3 autonomous vehicles.
Which Companies Are Leading the Global L3 Self-driving Vehicle Market?
The global market is led by several key automobile manufacturers focusing on autonomous driving technologies.
Major Companies:
• Mercedes-Benz
• Honda
• Hyundai
Asia, Europe, and North America dominate global automobile production, with China accounting for 32% of global production, Europe at 20%, and North America at 16%. Japan remains the largest car exporter, shipping more than 3.5 million vehicles in 2022.
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