Increasing Demand for Safety and Convenience Globally to Bolster the Growth of the Market

Published: Jan 2024

The global Autonomous vehicles market is anticipated to grow at a CAGR of 24.2% during the forecast period (2023-2030). The global Autonomous vehicles market is anticipated to grow at a significant rate owing to several factors which includes, increasing demand for safety and convenience, Rising demand for shared mobility, and recent advancements in technology, such as artificial intelligence, machine learning, and sensor technology.

In November 2023, ECARX, a provider of mobility technology, has launched a new series of Advanced Driver Assistance System (ADAS) enabled products, starting with the ECARX Skyland Pro. It will support drivers as the autonomy of their vehicles increases. Delivery of the ECARX ADAS platform has already taken place, with the beginning of mass production marking a significant milestone for the company. Owing to its dual system-on-chip (SoC) architecture, ECARX Skyland Pro delivers exceptional performance, and is supported by a sophisticated safety system.

Browse the full report description of “Autonomous vehicles Market Size, Share & Trends Analysis Report by Component (Hardware and Software), by Application (Transportation and Defense), and by Vehicle type (Car, Bus and Truck), Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/autonomous-vehicles-market

In July 2023, Volkswagen plans to test 10 ID Buzz electric vehicles retrofitted with Mobileye’s autonomous driving platform with safety drivers on board in limited areas of Austin, including downtown. it plans to launch autonomous, or self-driving, vehicles for ride-hailing and goods delivery services in Austin, Texas by 2026. Volkswagen plans to test 10 ID Buzz electric vehicles retrofitted with Mobileye’s autonomous driving platform with safety drivers on board in limited areas of Austin.

In March 2023, May Mobility, announced the launch of its third-generation autonomous driving system, another significant step on the path to driverless commercial operations that will improve safety, efficiency and rider satisfaction. Improvements include increased speed, tele-assist capabilities and improved detection accuracy. May Mobility's technology improvements benefit communities and riders in urban, suburban and rural areas who have access to cutting-edge transit. The company's autonomy stack includes its third-generation vision stack, next-generation pedestrian modeling and other improvements that allow the vehicle to navigate smoothly through a variety of interactions and situations

Market Coverage

The market number available for – 2022-2030

Base year- 2022

Forecast period- 2023-2030

Segment Covered- 

o By Component 

o By Application

o By Vehicle Type

Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

Competitive Landscape- includes, AB Volvo, Bayerische Motoren Werke AG, Ford Motor Company, General Motors, Hyundai Motor Group, Mercedes-Benz AG, Renault SA, Tesla, Inc., Toyota Motor Corp, Volkswagen Group, and others.

Key questions addressed by the report

  • What is the market growth rate?
  • Which segment and region dominate the market in the base year?
  • Which segment and region will project the fastest growth in the market?
  • Who is the leader in the market?
  • How are players addressing challenges to sustain growth?
  • Where is the investment opportunity?

Global Autonomous vehicles Market Report Segment

By Component  

  • Hardware
  • Software and Services

By Application 

  • Transportation (commercial and industrial)
  • Defence 

By Vehicle Type

  • Car
  • Bus
  • Truck

Global Autonomous vehicles Market Report Segment by Region

North America

United States

Canada

Europe

UK

Germany

Italy

Spain

France

Rest of Europe 

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific 

Rest of the World

Latin America 

Middle East & Africa


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