Autonomous Vehicles Market Size to Grow by 20.22 million units | AB Volvo and Alphabet Inc. Among Key Vendors | Technavio – QNT Press Release


NEW YORK, May 13, 2022 /PRNewswire/ — The autonomous vehicles market size is expected to grow by 20.22 mn units from 2020 to 2025. The growth momentum of the market will decelerate at a CAGR of 22.12%. The growth of the market will be driven by factors such as increasing demand for autonomy of vehicles by OEMs. However, factors such as high driver distraction with the increase in vehicle automation may challenge the market growth.

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Autonomous Vehicles Market: Driver
The increasing demand for autonomy of vehicles by OEMs will drive the growth of the market during the forecast period. An increase in vehicle automation has led to the development of semi-autonomous vehicles and the concept of fully autonomous vehicles. These innovations have been introduced owing to factors such as increasing consumer expectation; higher leading OEMs to add features to maintain market share; and various government regulations demanding additional safety, fuel efficiency, and security features. Thus, the increasing demand for autonomy of vehicles by OEMs is expected to drive autonomous vehicles market growth during the forecast period.

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Autonomous Vehicles Market: Key Vendor Offerings
The autonomous vehicles market report offers information on several market vendors, including AB Volvo, Alphabet Inc., Baidu Inc., BMW Group, Continental AG, Daimler AG, Ford Motor Co., General Motors Co., Hyundai Motor Group, and Robert Bosch GmbH, among others. The key offerings of some of the vendors are mentioned below:

  • AB Volvo – The company offers adaptive cruise control, driver alert system, and collision warning for autonomous vehicles.
  • Alphabet Inc. – The company offers autonomous vehicles, namely Waymo drivers.
  • Baidu Inc. – The company offers autonomous vehicles, namely Apollo.
  • BMW Group – The company offer driver assistance systems, such as speed, steering, and lane control assistants for autonomous vehicles.
  • Continental AG – The company offers Camera, lidar, …

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