North America Self-driving Cars Market (2024-2029)

RESEARCH METHODOLOGY

The research study used extensive secondary sources, such as company annual reports/presentations, industry association publications, magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, technical articles, and databases, to identify and collect information on the self-driving cars market. Primary sources, including experts from related industries, OEMs, and suppliers, were interviewed to obtain and verify critical information and assess growth prospects and market estimates.

Secondary Research

Secondary sources for this research study included corporate filings, such as annual reports, investor presentations, and financial statements; trade, business, and professional associations; whitepapers and self-driving car and ADAS-related journals; certified publications; articles by recognized authors; directories; and databases. Secondary data was collected and analyzed to determine the overall market size, further validated by primary research.

Primary Research

After understanding the self-driving cars market scenario through secondary research, extensive primary research was conducted. Primary interviews were conducted with market experts from both demand and supply sides across North America, Europe, and Asia Pacific. Approximately 35% of interviews were conducted from the demand side, while 65% of primary interviews were conducted from the supply side. Primary data were collected through questionnaires, emails, and telephone interviews.

In the canvassing of primary data, various departments within organizations, such as sales and operations, were covered to provide a holistic viewpoint in this report. Primary sources from the supply side included various industry experts, such as CXOs, vice presidents, directors from business development, marketing, product development/innovation teams, and related key executives from various key companies. Various system integrators, industry associations, independent consultants’/industry veterans, and key opinion leaders were also interviewed.

Breakdown of Primary Interviews

Note: Others include purchase and sales managers, marketing managers, and product managers.
Company tiers are based on the value chain; the company's revenue is not considered.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Bottom-up approach

The bottom-up approach was used to estimate and validate the size of the self-driving cars market. In this approach, vehicle sales statistics for each vehicle class were considered at the country and regional levels. The penetration of the level of autonomy for each passenger car at the country level was identified through model mapping to determine the market size of self-driving cars in terms of volume. Then, the penetration of each level of autonomy in passenger cars for all countries was applied to obtain the volume of the self-driving cars market.

Extensive secondary and primary research was conducted to understand the global market scenario for ADAS features with respect to the level of autonomy used in the automotive industry. Several primary interviews were conducted with key opinion leaders related to self-driving car development, including OEMs, Tier 1 suppliers, and applications. Qualitative aspects such as drivers, restraints, opportunities, and challenges were considered while calculating and forecasting the market size.

Top-down approach

The top-down approach was used to determine the size of the self-driving cars market for the component segment. Although the total market size in value (USD million) was derived using the bottom-up approach, the component segment was derived using the top-down approach. For instance, the self-driving cars market for the component segment was derived using the top-down approach to estimate the subsegments. Mapping was done at the regional level to understand the contribution by component. The market size was derived at the regional level in terms of value. The total value of the self-driving cars market was multiplied by the cost breakdown percentage of each component at the regional level.

Self-Driving Cars Market: Top-Down and Bottom-Up Approach

Data Triangulation

After arriving at the overall market size of the global market through the methodology mentioned above, this market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact market value data for the key segments and sub-segments, wherever applicable. The extrapolated market data was triangulated by studying various macro indicators and regional trends from both the demand and supply-side participants.

• Profiling of additional market players (up to five)