Global Autonomous Vehicle Market to Reach to 67.5 Million Units by 2028

Global Autonomous Vehicle Market to Reach to 67.5 Million Units by 2028

PR Newswire

FREMONT, California, Feb. 27, 2019

FREMONT, California, Feb. 27, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research, titled "Global Autonomous Vehicle Market - Analysis and Forecast, 2018-2028", the autonomous vehicle market was estimated at 6.6 million units in 2017 and is anticipated to reach 67.5 million units by 2028, growing at a CAGR of 20.78% during the forecast period. This growth can be attributed to the increasing demand for active safety features such as adaptive cruise control, blind spot detection, and automatic parking system, among others. Furthermore, factors such as increasing push from governments as well as consumers to ensure road safety, along with the development of connected and autonomous infrastructures, and growing demand for highly autonomous vehicles (L4 and L5) are expected to drive the growth of the global market for autonomous vehicle during the forecast period from 2018 to 2028.


Browse 50 Data Tables and 162 Figures spread through 254 Pages and in-depth TOC on "Global Autonomous Vehicle Market"

Autonomous systems in automobiles are currently emerging as a necessity for better functioning of the vehicle as they can help identify possible disruptions the driver may face. Automated systems assist drivers, by reducing their burden to focus on driving and enhance the overall driving experience. The integration of automated systems in vehicles allows vehicles to sense the obstacles that are beyond the sight of the users. Therefore, the integration has significantly helped in increasing the road safety for both pedestrians and drivers, reducing the congestion of traffic, and improving the fuel efficiency of the vehicles. On the basis of the level of autonomy, the market for autonomous vehicle has been analyzed, based on Level 1, 2, 3, 4, and 5. The report published incorporates a comprehensive segmentation of the market into level of autonomy, vehicle type, and geography.

BIS Research Report:

The ongoing changes in the industry have led the study to incorporate a detailed chapter on the market dynamics including the key driving and restraining forces of the market, along with the opportunities that can arise for the global autonomous vehicle market during the forecast period. The market numbers play an important role in the industry, following which proper market sizing and estimation by level of autonomy, vehicle type, and geographical location have been undertaken for the study. The report has skillfully identified the potential for further development in the form of product launches and development and business expansions, among others. The report includes a separate section for detailed competitive landscape. Additionally, the recent activities of the key players in this market, have also been tracked in the form of key developments.

According to Eshan Hira, Analyst at BIS Research, "the Level 1 segment is currently dominating the autonomous vehicle market and is anticipated to maintain its dominance throughout the forecast period. This is mainly due to the rise in the demand for active safety features such as adaptive cruise control, lane departure warning, and drowsiness monitoring, among others. However, Level 4 autonomous vehicle is anticipated to be the potential segment, expected to register the highest CAGR from 2020 to 2028. This is mainly due to the increasing R&D investment by automotive OEMs and self-driving technology providers such as Audi, Toyota, General Motor, Uber, Waymo, and Zoox, among others."

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The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary, and SWOT analysis. The overall market has been segmented by level of autonomy and vehicle type. The report also includes a comprehensive section on the geographical analysis which has been sub-segmented into four major regions, namely, North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW).

This report is a meticulous compilation of research on approximately 50 players in the autonomous vehicle market. Moreover, it draws upon insights from in-depth interviews of key opinion leaders of more than 25 leading companies, market participants, and vendors. The report also profiles around 14 companies which are key contributors in the market, namely AUDI AG, BMW Group, Daimler AG, FCA Italy S.p.A, Ford Motor Company, General Motors, MAN SE, Nissan Motor Co., Ltd, Tesla, Inc., Toyota Motor Corporation, Volkswagen AG, Volvo Group, Waymo LLC, and Zoox Inc.

Key questions answered in the report

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About BIS Research:

BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision making for senior management.

What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.

Bhavya Banga
BIS Research Inc.
FREMONT CA 94538-1686
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