Self Driving Cars Market
Self-driving Cars Market Forecasts to 2030 - Global Analysis By Component (Hardware, Software, and Other Components), Propulsion, Level of Autonomy, Vehicle, Application and By Geography
According to Stratistics MRC, the Global Self-Driving Cars Market is accounted for $31.52 billion in 2024 and is expected to reach $76.41 billion by 2030 growing at a CAGR of 15.9% during the forecast period. Self-driving cars, also known as autonomous vehicles, are equipped with advanced sensors, cameras, and artificial intelligence to navigate and operate without human intervention. These vehicles rely on sophisticated algorithms to interpret data from their surroundings, making real-time decisions to ensure safe and efficient travel. They can detect obstacles, follow traffic rules, and adjust routes dynamically. As technology continues to evolve, self-driving cars promise to revolutionize transportation by enhancing safety, reducing traffic congestion, and providing mobility solutions for everyone.
Market Dynamics:
Driver:
Demand for enhanced mobility and convenience
Autonomous vehicles offer the promise of effortless travel, allowing individuals to reclaim time spent behind the wheel. These vehicles can improve accessibility for people with disabilities or those unable to drive. Furthermore, self-driving cars can optimize traffic flow, reduce congestion, and provide more efficient transportation options. The integration of autonomous vehicles into ride-sharing services adds another layer of convenience, making transportation more accessible and user-friendly.
Restraint:
Data security and privacy concerns
Large volumes of data gathered from several sensors and communication networks are essential to autonomous cars. This data is crucial for the car's operation but also poses risks if mishandled or breached. Cybersecurity threats and potential data misuse can undermine public trust in self-driving technology. Ensuring robust data protection measures and addressing privacy concerns are essential to gain consumer confidence and support for the widespread adoption of autonomous vehicles.
Opportunity:
Rising fuel efficiency
The goal of autonomous cars is to minimize needless braking and acceleration, optimize driving habits, and maintain efficient speeds. By lowering overall fuel consumption and emissions, these features help to increase fuel efficiency. Greener transportation options are being pushed in tandem with international initiatives to address climate change and advance sustainable practices. Self-driving car usage is anticipated to rise as fuel economy becomes more important, due to both economic and environmental advantages.
Threat:
Job displacement concerns
The automation of driving tasks could lead to job losses in industries reliant on human drivers, such as trucking, taxi services, and public transportation. The potential impact on employment raises ethical and economic questions that need to be addressed. Policymakers and industry leaders must find ways to mitigate the negative effects of job displacement through retraining programs and new job opportunities in the evolving automotive and technology sectors.
Covid-19 Impact
The COVID-19 pandemic had a mixed impact on the self-driving car market. Supply chain disruptions and economic uncertainties slowed down production and development1. However, the pandemic also highlighted the benefits of autonomous vehicles, such as contactless delivery and transportation for essential workers. Companies adapted by focusing on software development and remote testing1. Overall, the pandemic underscored the potential of self-driving technology in enhancing safety and efficiency.
The hardware segment is expected to be the largest during the forecast period
The hardware segment is expected to account for the largest market share during the forecast period, due to its critical role in the functioning of self-driving cars. Advanced sensors, cameras, and LiDAR systems are essential components that enable autonomous vehicles to perceive and interpret their surroundings accurately. As the technology matures, investments in hardware development and production are anticipated to grow, reinforcing the segment's dominance in the market.
The hybrid vehicles segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the hybrid vehicles segment is predicted to witness the highest growth rate, due to their dual power sources and improved efficiency. Hybrid self-driving cars can switch between electric and conventional fuel modes, offering greater flexibility and extended range. This versatility makes them an attractive option for consumers seeking eco-friendly and cost-effective transportation solutions. The increasing focus on sustainability and the growing availability of hybrid models are expected to drive the segment's rapid expansion.
Region with largest share:
During the forecast period, Asia Pacific region is expected to hold the largest market share, due to its significant investments in autonomous vehicle technology and infrastructure. Countries like China, Japan, and South Korea are leading the way in research, development, and deployment of self-driving cars. The region's robust automotive industry, coupled with government initiatives to promote smart transportation, supports the market's growth. Additionally, the high population density and urbanization in Asia Pacific create a strong demand for efficient and innovative mobility solutions.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, owing to its strong technological base and supportive regulatory environment. The U.S. and Canada are home to many leading tech companies and automotive manufacturers driving advancements in autonomous vehicle technology. The region's focus on innovation, along with public-private partnerships and investment in smart infrastructure, accelerates market growth. The adoption of self-driving cars in ride-sharing and logistics services further boosts the market's expansion in North America.
Key players in the market
Some of the key players profiled in the Self-Driving Cars Market include Toyota Motor Corporation, Tesla, BYD co., ltd., Volkswagen Group, Ford Motor, General Motors, Mercedes-Benz Group Ag, BMW Group, Hyundai Motor Group, Nvidia Corporation, Robert Bosch Gmbh, Continental AG, ZF friedrichshafen AG, Denso Corporation, Magna International Inc., Nxp Semiconductors, Renault Group, Aisin Corporation, and Hitachi Automotive.
Key Developments:
In February 2025, TOYOTA GAZOO racing launches evolved GR Corolla in Japan. TOYOTA GAZOO Racing (TGR) has started accepting orders for its evolved GR Corolla, a model that leverages insights gained by competing in motorsports.
In December 2024, Volkswagen AG –with its brands Volkswagen Passenger Cars, Volkswagen Commercial Vehicles and Group Components and employee representatives have concluded a joint agreement entitled 'Zukunft Volkswagen’ after intensive negotiations
Components Covered:
• Hardware
• Software
• Other Components
Propulsions Covered:
• Internal Combustion Engine (ICE) Vehicles
• Hybrid Vehicles
• Electric Vehicles
• Hydrogen Fuel Cell Vehicles
• Other Propulsions
Level of Autonomy Covered:
• Level 0 (No Automation)
• Level 1 (Driver Assistance)
• Level 2 (Partial Automation)
• Level 3 (Conditional Automation)
• Level 4 (High Automation)
• Level 5 (Full Automation)
Vehicles Covered:
• Passenger Vehicles
• Commercial Vehicles
• Other Vehicles
Applications Covered:
• Ride-Hailing & Robo-Taxis
• Personal Mobility
• Public Transport
• Freight & Logistics
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Self-driving Cars Market, By Component
5.1 Introduction
5.2 Hardware
5.2.1 LiDAR (Light Detection and Ranging)
5.2.2 Radar Sensors
5.2.3 Cameras
5.2.4 Ultrasonic Sensors
5.2.5 AI-Based Processors & GPUs
5.2.6 GPS & Navigation Systems
5.2.7 5G & Cloud Connectivity
5.3 Software
5.3.1 AI & Machine Learning Algorithms
5.3.2 Advanced Driver Assistance Systems (ADAS) Software
5.3.3 Autonomous Driving Platforms
5.3.4 Cloud-Based Data Processing & Mapping
5.4 Other Components
6 Global Self-driving Cars Market, By Propulsion
6.1 Introduction
6.2 Internal Combustion Engine (ICE) Vehicles
6.3 Hybrid Vehicles
6.4 Electric Vehicles
6.5 Hydrogen Fuel Cell Vehicles
6.6 Other Propulsions
7 Global Self-driving Cars Market, By Level of Autonomy
7.1 Introduction
7.2 Level 0 (No Automation)
7.3 Level 1 (Driver Assistance)
7.4 Level 2 (Partial Automation)
7.5 Level 3 (Conditional Automation)
7.6 Level 4 (High Automation)
7.7 Level 5 (Full Automation)
8 Global Self-driving Cars Market, By Vehicle
8.1 Introduction
8.2 Passenger Vehicles
8.3 Commercial Vehicles
8.4 Other Vehicles
9 Global Self-driving Cars Market, By Application
9.1 Introduction
9.2 Ride-Hailing & Robo-Taxis
9.3 Personal Mobility
9.4 Public Transport
9.5 Freight & Logistics
9.6 Other Applications
10 Global Self-driving Cars Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Toyota Motor Corporation
12.2 Tesla
12.3 BYD co., ltd.
12.4 Volkswagen Group
12.5 Ford Motor
12.6 General Motors
12.7 Mercedes-Benz Group Ag
12.8 BMW Group
12.9 Hyundai Motor Group
12.10 Nvidia Corporation
12.11 Robert Bosch Gmbh
12.12 Continental AG
12.13 ZF friedrichshafen AG
12.14 Denso Corporation
12.15 Magna International Inc.
12.16 Nxp Semiconductors
12.17 Renault Group
12.18 Aisin Corporation
12.19 Hitachi Automotive
List of Tables
1 Global Self-driving Cars Market Outlook, By Region (2022-2030) ($MN)
2 Global Self-driving Cars Market Outlook, By Component (2022-2030) ($MN)
3 Global Self-driving Cars Market Outlook, By Hardware (2022-2030) ($MN)
4 Global Self-driving Cars Market Outlook, By LiDAR (Light Detection and Ranging) (2022-2030) ($MN)
5 Global Self-driving Cars Market Outlook, By Radar Sensors (2022-2030) ($MN)
6 Global Self-driving Cars Market Outlook, By Cameras (2022-2030) ($MN)
7 Global Self-driving Cars Market Outlook, By Ultrasonic Sensors (2022-2030) ($MN)
8 Global Self-driving Cars Market Outlook, By AI-Based Processors & GPUs (2022-2030) ($MN)
9 Global Self-driving Cars Market Outlook, By GPS & Navigation Systems (2022-2030) ($MN)
10 Global Self-driving Cars Market Outlook, By 5G & Cloud Connectivity (2022-2030) ($MN)
11 Global Self-driving Cars Market Outlook, By Software (2022-2030) ($MN)
12 Global Self-driving Cars Market Outlook, By AI & Machine Learning Algorithms (2022-2030) ($MN)
13 Global Self-driving Cars Market Outlook, By Advanced Driver Assistance Systems (ADAS) Software (2022-2030) ($MN)
14 Global Self-driving Cars Market Outlook, By Autonomous Driving Platforms (2022-2030) ($MN)
15 Global Self-driving Cars Market Outlook, By Cloud-Based Data Processing & Mapping (2022-2030) ($MN)
16 Global Self-driving Cars Market Outlook, By Other Components (2022-2030) ($MN)
17 Global Self-driving Cars Market Outlook, By Propulsion (2022-2030) ($MN)
18 Global Self-driving Cars Market Outlook, By Internal Combustion Engine (ICE) Vehicles (2022-2030) ($MN)
19 Global Self-driving Cars Market Outlook, By Hybrid Vehicles (2022-2030) ($MN)
20 Global Self-driving Cars Market Outlook, By Electric Vehicles (2022-2030) ($MN)
21 Global Self-driving Cars Market Outlook, By Hydrogen Fuel Cell Vehicles (2022-2030) ($MN)
22 Global Self-driving Cars Market Outlook, By Other Propulsions (2022-2030) ($MN)
23 Global Self-driving Cars Market Outlook, By Level of Autonomy (2022-2030) ($MN)
24 Global Self-driving Cars Market Outlook, By Level 0 (No Automation) (2022-2030) ($MN)
25 Global Self-driving Cars Market Outlook, By Level 1 (Driver Assistance) (2022-2030) ($MN)
26 Global Self-driving Cars Market Outlook, By Level 2 (Partial Automation) (2022-2030) ($MN)
27 Global Self-driving Cars Market Outlook, By Level 3 (Conditional Automation) (2022-2030) ($MN)
28 Global Self-driving Cars Market Outlook, By Level 4 (High Automation) (2022-2030) ($MN)
29 Global Self-driving Cars Market Outlook, By Level 5 (Full Automation) (2022-2030) ($MN)
30 Global Self-driving Cars Market Outlook, By Vehicle (2022-2030) ($MN)
31 Global Self-driving Cars Market Outlook, By Passenger Vehicles (2022-2030) ($MN)
32 Global Self-driving Cars Market Outlook, By Commercial Vehicles (2022-2030) ($MN)
33 Global Self-driving Cars Market Outlook, By Other Vehicles (2022-2030) ($MN)
34 Global Self-driving Cars Market Outlook, By Application (2022-2030) ($MN)
35 Global Self-driving Cars Market Outlook, By Ride-Hailing & Robo-Taxis (2022-2030) ($MN)
36 Global Self-driving Cars Market Outlook, By Personal Mobility (2022-2030) ($MN)
37 Global Self-driving Cars Market Outlook, By Public Transport (2022-2030) ($MN)
38 Global Self-driving Cars Market Outlook, By Freight & Logistics (2022-2030) ($MN)
39 Global Self-driving Cars Market Outlook, By Other Applications (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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