Autonomous Vehicle Market – CAGR of 39.47% 2019-2026

A lot of industry work is on making the ugly AV sensors smaller or invisible.

According to a study by Allied Market Research the global autonomous vehicle market is expected to be valued at $54.23 billion in 2019, and is projected to reach $556.67 billion by 2026, registering a CAGR of 39.47% from 2019 to 2026.

Currently, the North America dominates the market, followed by Europe. In 2019, the U.S. is expected to remain dominant in the North America market, while the UK is projected to lead the overall market in Europe. NHTSA says the U.S. lost 37,461 friends and neighbors, colleagues and family members to traffic crashes in 2016. Nearly as many in 2017.

The soothsaying comes from  Autonomous Vehicle Market by Level of Automation, Component, and Application: Global Opportunity Analysis and Industry Forecast, 20192026,

The study claims that “the elimination of accidents caused due to manual errors, reduced carbon dioxide emission from autonomous vehicle “cause in part the growth of the market. “In addition, less battery capacity and less consumption of gas by autonomous vehicle and high penetration in the automotive sector also contribute to the market growth. However, low consumer acceptance ratio and the burgeoning threat from hackers in the driving operation hamper this stated growth.

Findings of the Autonomous Vehicle Market

• The level of automation segment is estimated to generate the highest revenue in the global autonomous vehicle market in 2019
• In 2019, the level 3 segment is projected to be the highest revenue contributor in the level of automation segment
• Europe is anticipated to exhibit the highest CAGR during the forecast period
• In 2019, North America contributed the highest market share, followed by, Europe, Asia Pacific and LAMEA

Profiled in the report are General Motors, Daimler AG, Ford Motor Company., Volkswagen Group, BMW AG, Renault-Nissan-Mitsubishi alliance, Volvo-Autoliv-Ericsson-Zenuity alliance, Groupe SA, AB Volvo, Toyota Motor Corporation, and Tesla Inc.

Other companies in accordance with auto suppliers are Robert Bosch GMBH, Aptiv, Continental AG, and Denso Corporation. Also, by technology providers, it includes Waymo, NVDIA Corporation, Intel Corporation, Baidu, and Samsung. And based on AV as service provider, it includes Uber, Lyft, and Didi Chuxing.