Autonomous Vehicle Market to Witness 21% 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.
However, challenges remain, including high development expenses,
cybersecurity threats, and the absence of unified standards. Public trust
issues and infrastructure gaps also slow widespread use, but ongoing
collaboration and technological progress are gradually overcoming these
barriers.
Browse over XX market data Figures spread through XX Pages and an
in-depth TOC on "Global Autonomous Vehicle Market"
Autonomous Vehicle Market Is Segmented By Mobility, Vehicle, Level
of Automation and Region.
The autonomous vehicle
market is expanding across both passenger car and commercial vehicle segments.
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, these trends are expected to contribute significantly to the market's
expansion.
The report titled “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,
By 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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