Autonomous Vehicles Market by Vehicle Type and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR45175
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The autonomous vehicles market share is expected to increase by 20.22 million units from 2020 to 2025, at a CAGR of 22.12%.

This autonomous vehicles market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (passenger cars and commercial vehicles) and geography (North America, Europe, APAC, South America, and MEA). The autonomous vehicles market report also offers information on several market vendors, including AB Volvo, Alphabet Inc., Baidu Inc., BMW Group, Continental AG, Daimler AG, Ford Motor Co., General Motors Co., Hyundai Motor Group, and Robert Bosch GmbH, among others.

What will the Autonomous Vehicles Market Size be During the Forecast Period?

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Autonomous Vehicles Market: Key Drivers and Challenges

Based on our research output, there has been a negative impact on the market growth during and post the COVID-19 era. The increasing demand for autonomy of vehicles by OEMs is notably driving the autonomous vehicles market growth, although factors such as high driver distraction with the increase in vehicle automation may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the autonomous vehicles industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Autonomous Vehicles Market Driver

An increase in vehicle automation has given rise to the development of semi-autonomous vehicles and the concept of fully autonomous vehicles. These innovations have been introduced due to various factors such as increasing consumer expectation, higher competition leading OEMs to add features to maintain market share, and various government regulations demanding additional safety, fuel efficiency, and security features. Thus, the increasing demand for autonomy of vehicles by OEMs is expected to drive autonomous vehicles market growth during the forecast period. 

Key Autonomous Vehicles Market Challenge

The availability of vehicle automation is increasing the dependability on the equipment, leading to high driver distraction. This would lead to a potential cause for accidents when switching from autonomous driving to manual mode. Consumers should not completely be dependent on safety technologies such as driver state monitoring systems, advanced emergency braking systems, and collision avoidance systems, among others. As the level of automation increases in an automobile, users need to be aware that the adoption of such technology does not exempt the driver from the safe conduct of the vehicle. Thus, high driver distraction with the increase in vehicle automation will impede autonomous vehicles market growth during the forecast period. 

This autonomous vehicles market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Autonomous Vehicles Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AB Volvo
  • Alphabet Inc.
  • Baidu Inc.
  • BMW Group
  • Continental AG
  • Daimler AG
  • Ford Motor Co.
  • General Motors Co.
  • Hyundai Motor Group
  • Robert Bosch GmbH

 

This statistical study of the autonomous vehicles market encompasses successful business strategies deployed by the key vendors. The autonomous vehicles market is fragmented, and the vendors are deploying growth strategies such as constant development of prototypes as per customer demand to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The autonomous vehicles market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Autonomous Vehicles Market?

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39% of the market’s growth will originate from North America during the forecast period. The US is the key market for autonomous vehicles market in North America. Market growth in this region will be faster than the growth of the market in Europe, South America, and MEA.

Most of the prominent vehicle manufacturers are moving their manufacturing facilities to Mexico to leverage labor arbitrage and low production costs. This has increased vehicle production in the country and the demand for autonomous tech in the North American market. Additionally, North American car manufacturers tend to invest significantly in advertising the development of technology for driverless cars or autonomous cars. The US is the major country wherein research and development of autonomous vehicles are undertaken. All these factors will facilitate the autonomous vehicles market's growth in North America during the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Autonomous Vehicles Market?

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The autonomous vehicles market share growth by the passenger cars segment will be significant during the forecast period. Automakers are focusing on developing autonomous technology for passenger cars as the demand for autonomous vehicles is increasing from ride-hailing and logistics companies. Developed regions such as North America and Europe are frontrunners in the development of autonomous cars. Luxury car manufacturers are the major contributors to the market in focus, and the growing demand for passenger cars such as luxury cars is crucial to the growth of the global autonomous vehicles market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the autonomous vehicles market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Autonomous Vehicles Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 22.12%

Market growth 2021-2025

20.22 mn units

Market structure

Fragmented

YoY growth (%)

34.30

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 39%

Key consumer countries

The US, Germany, China, Japan, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AB Volvo, Alphabet Inc., Baidu Inc., BMW Group, Continental AG, Daimler AG, Ford Motor Co., General Motors Co., Hyundai Motor Group, and Robert Bosch GmbH

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Autonomous Vehicles Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive the autonomous vehicles market's growth during the next five years
  • Precise estimation of the autonomous vehicles market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the autonomous vehicles industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of autonomous vehicles market's vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Vehicle type

    • Market segments
    • Comparison by Vehicle type
    • Passenger cars - Market size and forecast 2020-2025
    • Commercial vehicles - Market size and forecast 2020-2025
    • Market opportunity by Vehicle type

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • AB Volvo
      • Alphabet Inc.
      • Baidu Inc.
      • BMW Group
      • Continental AG
      • Daimler AG
      • Ford Motor Co.
      • General Motors Co.
      • Hyundai Motor Group
      • Robert Bosch GmbH

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The autonomous vehicles market growth will increase by $5.64 million units during 2019-2024.
      The autonomous vehicles market is expected to grow at a CAGR of 21.12% during 2019-2024.
      Technavio has segmented the autonomous vehicles market by other1 (Passenger cars and Commercial vehicles) and geographic (North America, Europe, APAC, South America, and MEA).
      Alphabet Inc., BMW AG, Daimler AG, Ford Motor Co., General Motors Co., Hyundai Motor Co., Intel Corp., Tesla Inc., Toyota Motor Corporation, Volkswagen AG are a few of the key vendors in the autonomous vehicles market.
      North America will register the highest growth rate of 39.54% among the other regions. Therefore, the autonomous vehicles market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      • US
      • Germany
      • China
      • Japan
      • France
      • Canada
      The key factors driving the autonomous vehicles market growth are:
      • Increasing demand for autonomy of vehicles by OEMs
      • Development of autonomous vehicles for cab and parcel delivery services
      The autonomous vehicles market vendors should focus on grabbing business opportunities from the passenger cars segment as it accounted for the largest market share in the base year.
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