The global heavy-duty autonomous vehicle market was valued at $135.25 billion in 2022 and is anticipated to reach $1,453.20 billion by 2032, witnessing a CAGR of 27.42% during the forecast period 2023-2032.
The global ADAS and autonomous sensor maintenance equipment market was valued at $2,704.7 thousand in 2022, and it is expected to grow at a CAGR of 49.68% and reach $1,52,666.5 thousand by 2032.
The automotive LiDAR system-on-chip (SoC) market is expected to be valued at $29.3 million in 2024, which is anticipated to grow at a CAGR of 24.30% and reach $207.5 million by 2033.
The global LiDAR software market was valued at $335.4 million in 2022 and is anticipated to reach $1,940.2 million by 2031, witnessing a CAGR of 21.53% during the forecast period 2022-2031.
The global autonomous vehicle simulation solutions market is expected to reach $2,971.4 million by 2031, with a CAGR of 13.4% during the forecast period 2022-2031.
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The global ADAS and autonomous sensor maintenance equipment market is expected to reach $34.6 million by 2031, with a CAGR of 30.94% during the forecast period 2021-2031.
Global Thermal Imaging Market for Mobility Anticipated to Reach $3.22 Billion by 2025.
The global ADAS and autonomous driving component market is expected to reach $66.23 billion by 2030.
The global autonomous vehicle processor market accounted for $5.07 billion in terms of value in 2019 and is expected to reach $42.20 billion by 2030.
Automotive Camera Market Anticipated to Reach $10,951.0 Million by 2025.
The global autonomous vehicle simulation solution market is expected to create an annual revenue opportunity of $1.63 billion by 2025.
The global ADAS and autonomous driving component market to grow at a significant CAGR of 12.51% by value and a CAGR of 13.29% by volume during the forecast period from 2019 to 2029.
The Memory for Connected and Autonomous Vehicle Industry Analysis by BIS Research projects the market to grow at a significant CAGR of 20.87% during the forecast period from 2019 to 2029.
The global vision and navigation system industry for autonomous vehicle done by BIS Research depict the market is expected witness a CAGR of 26.78%, during the forecast period from 2019 to 2024.
The autonomous vehicle market is anticipated to grow at a CAGR of 20.78% during the forecast period 2018-2028.
The ADAS and autonomous driving component market is anticipated to grow at a CAGR of 22.31% during the forecast period 2018-2028.
The global automotive LiDAR market is anticipated to grow at a CAGR of 29.60% during the forecast period 2018-2028.
The automotive cameras market in terms of value generated $831.7 million in the year 2017 and is expected to grow at a rapid pace over the forecast period of 2018-2026.
The global traffic jam assist systems market generated $1,081.8 million in 2016; the market currently is being driven by the need to find a solution to reduce the vehicle congestion on the roads. Additionally, introducing these systems on the civilian roads will help reduce accidents caused due to the human error.
The global ADAS and autonomous driving components market generated $2.76 billion in 2016. The global ADAS and autonomous driving components market is largely driven by increase in the number of automated vehicles.
The global automotive LiDAR market was anticipated to be $65 million in the year 2016. Due to increasing number of automated vehicles and anticipated decrease in manufacturing price of LiDAR systems, these factors are expected to drive the automotive LiDAR market at a double digit CAGR in the time period 2017-2027.
Automobiles are one of the most important components of the transportation system, and have emerged as an essential necessity for every individual in the modern times. This factor contributes primarily to the increase in number of vehicles on the road at present, and therefore, leads to an increase in the number of accidents and road congestion.
The market is estimated to reach $2.6 billion by 2022 at a CAGR of 10.6% through the forecast period. Emerging technologies, growing awareness about driver safety, and stringent automotive safety regulations are some of the reasons fuelling the market growth.
Advanced Driver Assistance Systems (ADAS) has become an essential constituent in the automotive systems nowadays. ADAS is one of the segments in automotive industry with a high growth potential. ADAS comprise of systems with efficient and advanced technologies that provide autonomy to the vehicles and assist the driver in driving the vehicle safely.
The global ADAS and autonomous sensor maintenance equipment market is expected to reach $34.6 million by 2031, with a CAGR of 30.94% during the forecast period 2021-2031.
The global autonomous vehicle simulation solution market is expected to create an annual revenue opportunity of $1.63 billion by 2025.
The global ADAS and autonomous driving component market to grow at a significant CAGR of 12.51% by value and a CAGR of 13.29% by volume during the forecast period from 2019 to 2029.
The ADAS and autonomous driving component market is anticipated to grow at a CAGR of 22.31% during the forecast period 2018-2028.
The automotive cameras market in terms of value generated $831.7 million in the year 2017 and is expected to grow at a rapid pace over the forecast period of 2018-2026.
The global ADAS and autonomous driving components market generated $2.76 billion in 2016. The global ADAS and autonomous driving components market is largely driven by increase in the number of automated vehicles.
The global automotive LiDAR market was anticipated to be $65 million in the year 2016. Due to increasing number of automated vehicles and anticipated decrease in manufacturing price of LiDAR systems, these factors are expected to drive the automotive LiDAR market at a double digit CAGR in the time period 2017-2027.
Automobiles are one of the most important components of the transportation system, and have emerged as an essential necessity for every individual in the modern times. This factor contributes primarily to the increase in number of vehicles on the road at present, and therefore, leads to an increase in the number of accidents and road congestion.
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Autonomous Vehicle
Autonomous vehicle market including self-driving vehicles is largely transforming the entire automotive industry. The type of vehicles which were considered highly advanced and futuristic in terms of technology until a few years ago are rapidly becoming a reality. Current trends and technological advancements suggest that fully autonomous vehicles will hit the streets much sooner than previously predicted.
This rapid growth of the autonomous vehicle market can be attributed to the increasing advancement and the testing of technologically advanced level 4 and level 5 vehicles is expected to increase the demand for components being used in these vehicles. With that said, the advancements in the autonomous vehicle market have given birth to brand new security and safety challenges. The rising adoption of autonomous vehicles is also giving rise to cyber threats and other challenges associated with it.
Before we can move on to addressing these threats and challenges, it is important to be able to identify such challenges before they become a problem. This is where researching the current solutions becomes important.
BIS Research has been responsible for tracking the pulse of the market over the period of time and has realized that the growing concerns over road safety is one of the major reasons driving the growth of the autonomous vehicle market. At the same time, these concerns are also the biggest obstacle that autonomous vehicles must cross before they can be viewed as safe and fit for mass usage.
The reports for the autonomous vehicle market by BIS Research are focused on tracking the development of new technologies, their use cases, and their ability to fend off current and future threats to the industry.
Our reports offer a realistic and detailed view of the current condition of the industry and the solutions it employs. We have researched and evaluated the efficacy of these solutions and the associated technologies, along with their real-world applications and long term sustainability. Our research also includes insights that will allow you to accurately predict how particular technologies will perform when they are introduced to real world scenarios.
BIS Research market intelligence reports combine a bird’s eye view and the ground reality view of the autonomous vehicle market. Our one of the kind market intelligence reports that are created using our Deep Dive M-A-P approach will offer a holistic view of the technologies, companies, and industry verticals relevant to the autonomous vehicle industry.
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