Autonomous Driving Market – Trends Forecast Till 2028

Autonomous Driving Market – Trends Forecast Till 2028

Autonomous Driving Market, By Sensors (LiDAR, Camera, GPS, SONAR, RADAR), Upcoming Technologies (Traffic Jam Pilot, Highway Pilot, Pilot Parking, Infotainment, And HMI, Driver Monitoring System, Others), Class (Small, Medium, High End, Van), Technologies (Microchip, Sensors, Autoelectronics, AI, HD Mapping, Non-AI Software, Physical Systems, Steering, Others) Geography (North America, Europe, Asia-Pacific, Middle East, and Africa and South America)

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.

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

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

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

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.

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Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the autonomous driving market. The purpose of secondary research was to identify and collection of extensive, technical, market-oriented, and commercial studies of the global autonomous driving market. Through secondary, the market is classified and segmented as per of industry trend, development, regional market. Product and technology development.

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the autonomous driving market.

Primary Respondent breakdown is given below:

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the autonomous driving market. This approach has also been used to derive the market for segmentation and sub-segmentation.

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

• Leading Companies
• Suppliers & Distributors
• Manufacturers
• Consumers
• Industry/Strategic Consultants