Global Autonomous Luxury Vehicle Market, By Component (Biometric Sensors, Camera Unit, LiDAR Sensors, Radar Sensors, Ultrasonic Sensors), Body Type (Sedan, Hatchback, SUV), Fuel Type (Internal Combustion Engine, Battery Electric Vehicle, Fuel Cell Electric Vehicle, Hybrid Vehicle, Others), End User (Car Sharing, Personal Mobility), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Autonomous Luxury Vehicle Market
Data Bridge Market Research analyses the autonomous luxury vehicle market will exhibit a CAGR of 36.36% for the forecast period of 2022-2029 and is likely to reach the USD 61950.4 units by 2029.
The autonomous luxury car refers to self-driving or automatic vehicles that observe and perceive their environment using artificial intelligence technology and other cutting-edge technologies such as light detection and ranging technology and RADAR technology. With the help of different sensors for sensing and observing the environment, the car may drive itself and navigate without the need for human interaction. Safety, mobility, and driving satisfaction are all guaranteed with an autonomous luxury vehicle.
The rise in connected vehicle technology and dynamic mobility application will act as a key element driving market expansion. The autonomous luxury vehicle market is also being driven by factors such as increase in luxury vehicle sales. In addition to this, technological advancement in autonomous vehicles, increasing urbanization and high disposable income will expand the autonomous luxury vehicle market. Furthermore, growing demand from various end-use industries will act as a major factor influencing the growth of autonomous luxury vehicle market. Another significant factor that will cushion the autonomous luxury vehicle market’s growth rate is the growing need for safe, productive and efficient driving experience. Also, growth in mobile application and vehicle connectivity are the factors that will contribute to accelerating market’s growth rate.
Moreover, growing adoption of autonomous luxury vehicles as a car shared service will create beneficial opportunities for the growth of the market. Additionally, robotic assistance and untapped potential in autonomous luxury vehicles market will act as market driver and further boost new opportunities in the forecast period mentioned above.
However, consumer acceptance to automation, cyber security and safety concerns will hamper the market’s growth rate. Also, undefined legal responsibility and environment constraints will further pose major challenges to the growth of market. Another factor is the mutual inference between LiDAR scanners will obstruct the market’s growth.
This autonomous luxury vehicle market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on autonomous luxury vehicle market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Autonomous Luxury Vehicle Market Scope and Market Size
The autonomous luxury vehicle market is segmented on the basis of component, body type, fuel type and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- Autonomous luxury vehicle market on the basis of component has been segmented into biometric sensors, camera unit, LiDAR sensors, radar sensors, ultrasonic sensors.
- Depending upon body type, the autonomous luxury vehicle market is segmented into sedan, hatchback and SUV.
- On the basis of fuel type, the autonomous luxury vehicle market is segmented into internal combustion engine, battery electric vehicle, fuel cell electric vehicle, hybrid vehicle, others.
- On the basis of end user, the autonomous luxury vehicle market is segmented into car sharing and personal mobility.
Autonomous Luxury Vehicle Market Country Level Analysis
The autonomous luxury vehicle market is analysed and market size, volume information is provided by country, component, body type, fuel type and end user as referenced above.
The countries covered in the autonomous luxury vehicle market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the autonomous luxury vehicle market and will continue to flourish its trend of dominance due to the presence of major key players, high disposable income and the adoption of advanced technology in this region. Europe is expected to grow during the forecast period of 2022-2029 due to the availability of leading vehicle manufacturers in this region.
The country section of the autonomous luxury vehicle market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Autonomous Luxury Vehicle Market Share Analysis
The autonomous luxury vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to autonomous luxury vehicle market.
Some of the major players operating in the autonomous luxury vehicle market are Porsche Automobil Holding SE, Continental AG, BorgWarner Inc., VALEO, Cisco Systems, Inc., AUDI AG, BMW AG, Daimler AG, NIO, Tesla, Changan Automobile Company Limited, BYD Company Ltd., Baidu, SAIC Motor Corporation Limited, Waymo LLC, BAIC Motor Corporation Ltd., Robert Bosch GmbH, NXP Semiconductors, Infineon Technologies AG, Texas Instruments Incorporated, Magna International Inc., ZF Friedrichshafen AG, Renesas Electronics Corporation, Nippon Seiki Co.Ltd, Pioneer Corporation, DENSO CORPORATION, and Visteon Corporation, among others.