Addressing Road Safety Through The Growth Of Connected And Autonomous Mobility Vehicles: The Driving Engine Behind Connected And Autonomous Mobility Vehicles Market Evolution in 2025

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Connected And Autonomous Mobility Vehicles Market Size Growth Forecast: What to Expect by 2025?
In the past few years, the market size of connected and autonomous mobility vehicles has seen an impressive expansion. It is projected that the market will increase from $197.56 billion in 2024 to $288.85 billion in 2025, with a compound annual growth rate (CAGR) of 46.2%. This historical growth can be attributed to the emergence of advanced driver assistance systems (adas), the evolution of GPS and navigation systems, early research and development in autonomy, groundbreaking autonomous vehicle projects, and a shift towards mobility as a service (maas).

How Will the Connected And Autonomous Mobility Vehicles Market Size Evolve and Grow by 2029?
The market for autonomous and connected mobility vehicles is projected to witness substantial expansion in the coming years, predicted to reach a market value of $1173.59 billion in 2029, with a compound annual growth rate (CAGR) of 42.0%. This anticipated growth over the forecast period can be ascribed to multiple factors including, increased trust and embracement by consumers, integration of urban mobility solutions, continual advancements in regulatory aspects, the growing popularity of instant services, evolution of vehicle-to-everything (v2x) communication, and a surge in electric as well as hybrid vehicles. Prominent trends during this period are expected to be consumer acceptance and adoption, urban mobility solutions, improvements in sensor technologies, standards, and regulatory support, increased traction of on-demand mobility services, and the proliferation of v2x communication.

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What Drivers Are Propelling the Growth of Connected And Autonomous Mobility Vehicles Market Forward?
The escalating count of road mishaps is projected to fuel the expansion of the connected and autonomous mobility vehicles market in the future. Road accidents are typically incidents that lead to property destruction or personal harm, taking place in areas designed for public transit or frequently used for transportation, and involving at least one moving vehicle. Connected and autonomous vehicles (CAVs) can leverage their interconnection and automation capabilities to aid in the prevention and mitigation of road mishaps by executing evasive actions, overseeing the driver's focus, and assuming command of the vehicle if the driver is distracted. For example, data from the World Health Organization revealed that in December 2023, there were an estimated 1.19 million global road traffic deaths, with the European Union documenting approximately 20,400 fatalities-a slight rise from 20,196 in 2022. Consequently, the escalating number of road mishaps is propelling the expansion of the connected and autonomous mobility vehicle market.

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What Long-Term Trends Will Define the Future of the Connected And Autonomous Mobility Vehicles Market?
Prominent firms in the sphere of connected and autonomous mobility vehicles are heightening their efforts on developing third-generation autonomous driving systems to secure a competitive advantage. Such systems are characterized by complete autonomy in driving under specified conditions within a predefined environment like highway driving. For example, May Mobility, an American autonomous vehicle (AV) technology firm, unveiled its third-generation autonomous driving system in March 2023. This system is packed with refined sensors including cameras, radars, and lidars that give it an unparalleled capability to discern objects in its environment more distinctly and precisely than previous iterations. Moreover, it boasts an enhanced communication system for effective collaboration with human operators which results in safer vehicle and passenger conditions in difficult situations. The third-generation autonomous driving system from May Mobility comes with numerous advancements including a third-generation vision stack, state-of-the-art pedestrian modeling, tele-assist, on-vehicle traffic light detection, and more to ensure incident-free navigation through diverse situations. In addition, it is embedded with several safety mechanisms, such as automatic emergency braking and lane departure warning to mitigate the potential for accidents.

What Are the Key Segments in the Connected And Autonomous Mobility Vehicles Market?
The connected and autonomous mobility vehicles market covered in this report is segmented -

1) By Level Of Automation: Level 1, Level 2, Level 3, Level 4, Level 5
2) By Propulsion Type: Semi-Autonomous, Fully Autonomous
3) By Vehicle Type: Passenger Car, Commercial Vehicle
4) By Application: Civil, Defense, Transportation And Logistics, Construction

Subsegments:
1) By Semi-Autonomous: Level 2 (Partial Automation), Level 3 (Conditional Automation)
2) By Fully Autonomous: Level 4 (High Automation), Level 5 (Full Automation)

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Who Are the Key Players Shaping the Connected And Autonomous Mobility Vehicles Market's Competitive Landscape?
Major companies operating in the connected and autonomous mobility vehicles market report are Microsoft Corporation, General Motors (GM), Mercedes-Benz Group AG, Ford Motor Company, Bayerische Motoren Werke AG (BMW), SAIC Motor Corp. Ltd., Tesla Inc., Nissan Motor Co. Ltd., Intel Corporation, BYD Co. Ltd., Groupe Renault, The Volvo Group, Magna International Inc., Uber Technologies Inc., ABB Ltd., Nvidia Corporation, Jaguar Land Rover Automotive PLC, Didi Chuxing Technology Co. Ltd., Baidu Inc., Aptiv PLC, Porsche Automobil Holding SE, Lyft Inc., Motional, Aurora Innovation Inc., SAE International, Nuro Inc., Argo AI, AutoX Inc., Swift Navigation, Nauto

What Geographic Markets Are Powering Growth in the Connected And Autonomous Mobility Vehicles Market?
North America was the largest region in the connected and autonomous mobility vehicles market in 2024. The regions covered in the connected and autonomous mobility vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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