Autonomous Driving Market - Trends Forecast Till 2028

Market Overview

The global autonomous driving market is anticipated to reach USD 9.1 billion by 2020 growing at a CAGR of 34.6% during the forecasting period, 2020-2028. Autonomous driving is automated driving that needs less human interaction of the driver for driving and helps in reducing the accidents by actively taking decisions for speeding up or speeding down as per the environmental conditions. Factors such as the safety & comfort of the passengers and the rise in use of automation are some of the major factors for the autonomous driving market.

Key Findings

The global autonomous driving market is segmented into sensors, upcoming technologies, class, technologies, and geography.

The sensors segment is segmented into LiDAR, Camera, GPS, SONAR, and RADAR

Upcoming Technologies segment is segmented into Traffic Jam Pilot, Highway Pilot, Pilot Parking, Infotainment and HMI, Driver Monitoring System, Others

The class segment is segmented into Small, Medium, High End, and Van

Technologies segment is segmented into Microchips, Sensors, Autoelectronics, AI, HD Mapping, Non-AI Software, Physical Systems, Steering, and Others.

Geographically, the global autonomous driving market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions

Regional Analysis

Europe region is the largest contributor to the autonomous driving market in the forecast period 2020-2028 and the Asia-Pacific region is expected to grow with the highest CAGR during the forecast period 2020-2028

Competitive Landscape

Key players in the global autonomous driving market are CMU NAVLAB, Audi AG, BMW AG, Ford Motor Company, Groupe Renault, General Motors, Google LLC, Honda Motor Corporation, Nissan Motor Company, Tesla Inc, Toyota Motor Corporation, Uber Technologies Inc., Volvo Car Corporation, Volkswagen AG, Waymo, Nvidia, Oxbotica, Addison Lee, Huwaei among others

Recent Developments

The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:

• In 2019, BMW in partnership with Daimler will develop self-driving technologies for automated driving on highways, driver assistance systems, and parking features.
• In 2019, Volkswagen AG has announced the test of the first vehicles with the Level 4 automation in a major German city are underway for handling complex urban traffic patterns without help from drivers, although they must be ready to intervene

Hence, tremendous progress has been made over the last decade and yet a lot more to come in recent years.