Autonomous Vehicle Market to Witness 24.68% CAGR until 2030
Rising investments in AI and sensor technologies, growing consumer acceptance of autonomous driving, and increasing demand for safer and more efficient transport systems are the factors driving the market in the forecast period 2026–2030.
According to TechSci Research report, “Autonomous Vehicle Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F”, The Global Autonomous Vehicle Market was valued at USD 2.37 billion in 2024 and is expected to reach USD 8.90 billion by 2030 with a CAGR of 24.68% during the forecast period. Autonomous vehicle technology is transforming global transport by blending artificial intelligence, machine learning, and advanced sensor systems into modern mobility solutions. Growing emphasis on improving road safety and driver convenience is driving innovation throughout the automotive sector. Significant investments are flowing into technologies like LiDAR, radar, GPS, and dynamic mapping tools, all designed to enable self-driving capabilities. Demand for efficient and dependable public and private transport, paired with supportive regulations in several regions, is pushing forward the rollout of autonomous vehicles, which are progressing beyond Level 2 and 3 automation toward more advanced Levels 4 and 5.
Developments in urban planning and smart mobility are opening pathways for autonomous technology to help manage traffic congestion and improve last-mile connectivity. Shared autonomous fleets are being tested to enhance cost efficiency and resource usage, while combining electric drivetrains with self-driving features supports sustainability goals. Innovations like real-time analytics, V2X communication, and adaptive traffic systems are helping accelerate these deployments. Governments and research bodies are funding trials and establishing test zones to quicken commercial readiness.
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Autonomous Vehicle Market Is Segmented By Mobility, Vehicle, Level of Automation and Region.
Based on mobility passenger car segments is estimated to grow at a faster rate during the forecast period. In passenger cars, semi-autonomous features such as adaptive cruise control, lane centering, and automated parking are increasingly standard, particularly in premium and mid-range models. Automakers are steadily transitioning toward higher automation levels, with pilot programs already underway for urban autonomous taxis and private-use robotaxis. In commercial vehicles, the focus is on improving logistics efficiency and safety. Autonomous trucks and delivery vans are being tested for long-haul freight and last-mile delivery. Fleet operators are adopting autonomous technologies to cut labor costs, reduce accidents, and improve fuel efficiency through route optimization and V2X communication. These technologies are being integrated into logistics hubs and warehouse management systems to streamline supply chains.
Europe’s autonomous vehicle market is advancing rapidly, supported by progressive regulatory frameworks, substantial R&D investment, and strong collaboration between automakers and technology providers. Governments across the region are promoting autonomous mobility through policy initiatives, pilot projects, and funding for smart infrastructure. Countries like Germany, France, and Sweden are leading trials for autonomous passenger cars and urban robotaxis, integrating advanced sensors, AI-driven software, and real-time mapping to enhance safety and efficiency.
Commercial vehicle applications are gaining momentum, with autonomous trucks and delivery vehicles being tested to improve logistics operations and reduce driver shortages. Europe’s commitment to environmental sustainability aligns well with integrating electric propulsion and autonomous systems, driving innovation in clean, automated transport solutions. Public transportation authorities are also exploring autonomous shuttles to ease urban congestion and enhance mobility in underserved areas. Despite challenges like legal complexities and high development costs, Europe remains a dynamic hub for autonomous vehicle growth and technological breakthroughs.
Major Market Players Operating in Global Autonomous Vehicle Market Are:
- BMW AG
- Daimler AG
- Ford Motor Company
- General Motors Company
- Hyundai Motor Group
- Pony.AI, Inc.
- Robert Bosch GmbH
- Tesla, Inc.
- Wamyo LLC
- Zoox, Inc.
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“The autonomous vehicle market is transforming global transportation through technologies like AI, advanced sensors, and real-time data systems. Rising demand for road safety, efficient logistics, and sustainable mobility is fueling development across both passenger and commercial vehicle segments. Europe stands out for robust regulatory support and pilot deployments, while Asia-Pacific surges ahead with smart city initiatives and rapid tech adoption. Despite hurdles like high costs, cybersecurity concerns, and public skepticism, collaboration among automakers, tech firms, and governments is driving progress. Autonomous vehicles are poised to reshape mobility, logistics, and urban planning, offering significant long-term economic and societal benefits.” said Mr. Karan Chechi, Research Director at TechSci Research, a global research-based management consulting firm.
"Autonomous Vehicle Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Level of Automation (Level 1, Level 2, Level 3, Level 4, Level 5), By Mobility (Shared, Personal), By Vehicle (Passenger Car, Commercial Vehicle), By Region & Competition, 2020-2030F”, assesses the market's future growth potential and provides data on market size, trends, and forecasts. It aims to offer comprehensive market insights, helping decision-makers make informed investment choices. The report also highlights emerging trends, key drivers, challenges, and opportunities in the Global Autonomous Vehicle Market.
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