New Report by Next Move Strategy Consulting Predicts Global Autonomous Vehicle (AV) Market to Generate USD 614.87 Billion by 2030

The demand for safety features, such as collision avoidance systems, lane departure warnings, airbags, impact evasion frameworks, and tire pressure screens, has been increasing due to a surge in road fatalities worldwide, which in turn drives the growth of the global autonomous vehicle market.

New York, Feb. 06, 2023 (GLOBE NEWSWIRE) — According to the report published by Next Move Strategy Consulting, the Autonomous Vehicle Market generated USD 87.56 billion in 2021 and is projected to reach USD 614.87 billion by 2030, witnessing a CAGR of 24.7% from 2022 to 2030. The research offers an extensive analysis of the changing market trends, detailed segmentation, top market players, and regional scenario.

The report contains a detailed analysis of every aspect of the autonomous vehicle industry in its 650 pages, 527 tables, and 487 figures. The study aims to provide a helpful source of information for leading players, investors, and startups to take necessary steps to achieve sustainable growth and competitive advantage.

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Report Coverage Details
Forecast Period 2022–2030
Base Year 2021
Market Size in 2021 USD 87.56 Million
Market Size in 2030 USD 614.87 Million
CAGR 24.7%
No. of Pages 650
Tables 527
Figures 487
Segments Covered Type, Component, Autonomy Level, Application, and Geography.
Drivers Advancements in autonomous technology and demand for safety features
Several strict rules and regulations regarding the safety of AVs
AVs reduce traffic congestion
Opportunities Rising demand for electric vehicles (EVs)

The report provides an extensive analysis of the changing market trends in the autonomous vehicle market based on drivers, restraints, and opportunities. The advantages of autonomous vehicles over conventional vehicles include improved safety, limited fuel use, and traffic congestion & emissions, which drive the growth of the global autonomous vehicle market. However, the scarcity of semiconductor chips worldwide restrains the market growth.

Highlighting the opportunities for leading players to increase their share in the autonomous vehicle in the coming years, the Lead Analyst for the ‘Automotive & Transportation’ at Next Move Strategy Consulting, stated, “Rising demand for electric vehicles (EVs) due to high prices of fossil fuels and rising awareness related to environmental pollution create opportunities for several other efficient and reliable technologies.”

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The report offers a detailed segmentation of the global autonomous vehicle market based on type, component, autonomy level, application, and geography. Based on type, the market is sub-segmented into autonomous and semi-autonomous. On the basis of component, the market is categorized into light detection and ranging (LiDAR) sensor, ultrasound sensor, video cameras, central computing system, radar sensor, and GPS navigation system. Based on autonomy level, the market is divided into level 0, level 1, level 2, level 3, level 4, level 5, and level 6. On the basis of application, the market is segmented into civil, robo-taxi, ride-hail, ride share, logistics, construction & manufacturing, mining, and port. The geographical breakdown and analysis of each of the aforesaid segments are provided across North America, Europe, Asia-Pacific, and RoW.

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Based on geography, the report divides the global autonomous vehicle market into North America, Europe, Asia-Pacific, and RoW. North America accounted for the highest market share in 2021 and is estimated to maintain its dominance throughout the forecast period. This is due to the growing focus of major automotive manufacturers, such as Tesla, Ford Motor Company, and General Motors, on artificial intelligence in automated vehicles. However, Europe is projected to register a steady growth rate throughout the forecast period, owing to the growing concern for road safety among the population and favorable government regulations to augment autonomous driving.

The report analyzes every region based on the segments and sub-segments using tabular and graphical formats. This analysis will help determine the steps to increase the global autonomous vehicle market size.

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The report offers a detailed analysis of the leading market players in the global autonomous vehicle market. The key players analyzed in the research include Daimler, Waymo, Ford Motors, General Motors, Tesla, Inc., Baidu, Volvo Group, Toyota Motor Corporation, Audi AG, and Nissan Motor Company. The report provides a detailed analysis of each market player based on business performance, top strategies & developments, and sales in terms of volume.

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Next Move Strategy Consulting is a premier market research and management consulting firm committed to providing its clients with strategically analyzed, well-documented latest research reports. The research industry is flooded with many firms. What makes Next Move different from the rest is its top-quality research and the obsession with turning data into knowledge by dissecting every bit of it and providing fact-based research recommendations that are supported by information collected from over 500 million websites, paid databases, industry journals, and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients make critical business decisions that enable them to move beyond time and have a competitive edge in the industry.

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