The autonomous vehicle market for luxury segment is projected to grow at a CAGR of 35.35% during the forecast period, to reach 126,774 units by 2030 from a projected 27,906 units in 2025. The integration of technology in vehicles and the need for a safe, productive, and efficient driving experience are the key factors driving the market growth. The increase in dynamic mobility and growth of connected vehicle technology are also expected to drive the market growth.
Agreements, partnerships, collaborations, and joint ventures are the key strategies adopted by market players to achieve growth in the autonomous vehicle market for luxury segment. BMW (Germany), Audi (Germany), Porsche (Germany), and BYD (China) are some of the leading OEMs who adopted these strategies in the autonomous vehicle market for luxury segment. The report also discusses tier I suppliers such as Robert Bosch (Germany), Continental (Germany), Delphi (UK) and Denso (Japan) as they are also the key stakeholders in the autonomous vehicle market.
New product launch and development is the second most adopted strategy by the key players in the autonomous vehicle market for luxury segment. Daimler (Germany), Tesla (US), BMW (Germany), Faraday Future (US), and Audi (Germany) have started to develop autonomous vehicles for the luxury segment. These manufacturers have adopted the strategy of new product development and plan to launch several new models in this segment. The tier I suppliers such as Robert Bosch (Germany), Continental (Germany), Infineon (Germany), NXP (Netherlands), and Valeo (France) are the major component manufacturers that have also adopted this strategy to achieve growth in the autonomous vehicle market for luxury segment.
BMW is one of the leading players in the autonomous vehicle market for luxury segment. The company is a leading manufacturer of luxury cars. The group comprises brands such as BMW (Germany), MINI (UK), and Rolls-Royce (UK). BMW is currently working on standards, platforms, and a backend for the future of automated driving. It would collaborate with partners such as Intel (US) and Mobileye (Israel) to develop a new series of fully automated prototype vehicles. The company has developed products such as DriveNow, ReachNow, ParkNow, and ChargeNow for mobility services that would be used for autonomous vehicle segments. In December 2016, BMW opened a new research and development center in Unterschleissheim, Munich (Germany) for the development of automated driving technology. This expansion is expected to help the company in launching the self-driving, electric, and fully connected BMW iNEXT model by 2021.
Continental is a global manufacturer of tires, automotive parts, and industrial products. For automated driving, Continental AG provides various advanced driving functions such as Cruising Chauffeur, Traffic Jam Assist, Parking Companion, Remote Garage Parking, and Trained Parking. Continental AG has more than 1,300 specialists working on driver assistance systems and the fundamentals of automated driving. In July 2017, Continental AG acquired minority shares in EasyMile SAS (France), a pioneer in automated driving and smart mobility solutions. With this deal, Continental AG aims to develop cutting-edge technologies for driverless vehicles and open up new fields of competence.
Autonomous Vehicle Market for Luxury Segment by Body Type (Sedan/Hatchback & SUV), End User (Personal Mobility & Car Sharing), Fuel Type (BEV, Hybrid, ICE, & FCEV), Component (Radar, LiDAR, & Biometric Sensors) and Region - Global Forecast to 2030
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