Autonomous / Self-Driving Cars Market

Market Leaders - Self-driving Cars Market

The global self-driving cars market size is projected to grow from 20.3 million units in 2021 to 62.4 million units by 2030, at a CAGR of 13.3%. The key growth drivers of the market are the increasing stringency of vehicle safety regulations, upcoming safety mandates, development of ADAS technology, emergence of and increasing demand for a comfortable driving experience.

The self-driving cars market is dominated by global players such as General Motors (US), Ford (US), Daimler (Germany), Volkswagen (Germany), Toyota (Japan), and Waymo (US). These companies have adopted strategies such as new product development, expansion, collaborations, partnerships, and mergers & acquisitions to gain traction in the self-driving cars market.

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General Motors is one of the leaders in the self-driving cars market owing to its extensive development in self-driving systems. GM’s subsidiary, Cruise is focusing in the development of fully autonomous vehicles, while the automaker is focusing on expanding its advanced driver-assist Super Cruise system to 22 vehicle models by 2023. The goal for Super Cruise is to eventually offer hands-free driving in 95% of driving conditions. Currently, Super Cruise allows hands-free driving on more than 200,000 miles of pre-mapped highways in the US and Canada. GM’s Super Cruise system includes a driver-facing infrared camera to monitor attentiveness and the Autopilot involves pre-mapped roads that work with onboard radar, sensors and cameras to drive the vehicle.

Ford is another leading self-driving cars manufacturer. The automotive segment is the largest revenue generator for Ford, which includes automobiles with advanced driver-assist features. The segment contributed 91% to the company’s revenue in 2020. The company offers a diverse product portfolio with advanced features that include Blue Cruise, Blind Spot Information System, Lane Keeping System, and Intelligent Adaptive Cruise Control. Models such as Ecosport, Escape, Bronco, Edge, Mustang Mach-E, Mustang, and F150 are equipped with the mentioned features. Ford was expected to launch a full-scale autonomous vehicle business, including robotaxis and driverless delivery in 2021. The plan could not succeed due to the outbreak of COVID-19, and the company had to push it to 2022.

Daimler is also a key player in the self-driving cars market. Daimler is establishing an Autonomous Technology Group as a global organization for automated driving, which brings together its global competencies and activities. The new unit will involve in the overall implementation of the Automated Driving Roadmap, as well as the development of the operational infrastructure and network necessary to the series production of highly efficient automated trucks. The activities of the new unit will include software development, chassis redundancy, sensor kit integration, and operations infrastructure. It became the first automotive company in the world to meet the legal requirements of UN-R157 for a Level 3 system. This development will enable customers to buy an S-Class with DRIVE PILOT in the first half of 2022, helping them drive in conditionally automated mode at speeds of up to 60 km/h in heavy traffic or congested situations on suitable stretches of motorway in Germany.

Volkswagen, another key player in the self-driving cars market is investing in high-powered chip technology that will power its autonomous vehicles along with the required software. Volkswagen would not build the chips but would appoint its software design division known as Cariad to develop and build the chip technology. It provides ADAS software such as Standard Parking Assist, Adaptive Cruise Control, and Intuitive Travel Assist, which maintains lane, speed, and distance from the car in front. Volkswagen and Microsoft partnered to develop self-driving car software for advancements in automated driving technology and expand their ADAS partnership.

Toyota is also one of the major players in the global self-driving cars market. It has launched more than 13 models with Level 2 autonomy in the Japanese market. Toyota has introduced a driving simulator to enhance the speed of development of next-generation vehicle spaces of autonomous vehicles. It will be used for the evaluation and verification of developed products. It has also invested in various startups pertaining to the self-driving cars and their systems across the globe one of which is Momenta which is located in China.

Waymo is one of the leading self-driving vehicle technology companies worldwide. The company has been an early leader in artificial intelligence software, custom-built laser scanning gear, and 3D digital mapping technology. It is a subsidiary of Alphabet and has successfully been able to secure a funding of USD 5.7 billion, including funding by external agencies. Waymo received permit from the California Department of Motor Vehicles (DMV) to charge money and receive compensation from operating an autonomous vehicle. The company is allowed to operate their self-driving cars at speeds up to 65 mph and test in parts of San Francisco and San Mateo counties.

Related Reports:

Self-driving Cars Market by Component (Radar, LiDAR, Ultrasonic, & Camera Unit), Vehicle (Hatchback, Coupe & Sports Car, Sedan, SUV), Level of Autonomy (L1, L2, L3, L4, L5), Mobility Type, EV, and Region - Global Forecast to 2030

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Autonomous / Self-Driving Cars Market Size,  Share & Growth Report
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