Dublin, March 05, 2024 (GLOBE NEWSWIRE) — The “US Autonomous Vehicle Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insights, Inflation Impact, Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
The US autonomous vehicle market is set to see a significant rise, with the latest industry trends forecasting it to skyrocket to a valuation of USD 78.63 billion by 2030. Driven by advancements in sensor technology and artificial intelligence, the market is rapidly moving towards integrating “driver assistance” features in modern vehicles. The US, being a hub of technological innovation, is at the forefront with heavy investments in autonomous vehicles (AVs) that are expected to transform the future of transportation.
Technological advancements drive market growth
Modern vehicles with autonomous driving capabilities are becoming more and more of a reality due to the rapid development of new technologies. The U.S. autonomous vehicle market is fueled by collaborations within the automotive industry, highlighting a strong ecosystem for growth. For example, Velodyne Lidar’s collaboration with Faraday Future demonstrates this trend with cutting-edge LiDAR sensors evolving the driving system of FF91 vehicles. According to the report, the growth trajectory of autonomous vehicles in the U.S. is expected to be highlighted by a compound annual growth rate (CAGR) of 19.56% from 2023 to 2030.
Government policies and safety concerns
Increased focus on safety and efficiency, coupled with support from government agencies, is propelling the market to new heights. Data from the National Highway Traffic Safety Administration shows that autonomous vehicles are desperately needed to reduce road accidents caused by human error.
Segment Growth and Opportunities
Driving Levels: Level 3 self-driving vehicles are seeing significant growth by blending advanced assistance with partial automation, signaling a major shift towards a future of fully autonomous transportation. Rapid Growth in Software Sector: The software sector is experiencing rapid expansion with investments focused on enhancing autonomous capabilities and improving the overall user experience. Lidar and V2X Technology: Lidar hardware and Vehicle-to-Everything (V2X) software both have a key position in the autonomous vehicle market, both of which are essential for future integration. Passenger Cars Take the Lead: The US market is dominated by passenger cars powered by autonomous technology that improves safety, reduces congestion, and enhances the driving experience.
Core Market Players
Industry pioneers such as Apple Inc., Alphabet Inc. and General Motors are shaping the trajectory of the autonomous vehicle market in the U.S. These key companies are crucial in driving innovation, strategic advancements and market expansion.
Conclusion
The U.S. autonomous vehicle market is poised for a transformational era, fueled by technological advancements, strategic alliances, and a favorable regulatory environment. Its rising projected valuation of USD 78.63 billion by 2030 is a testament to the momentum gained by the autonomous vehicle revolution. By offering a safer, more efficient, and connected driving experience, this market is poised to redefine mobility and transportation in the coming years.
Major features
Report AttributesDetailsNumber of Pages220Forecast Period2023-2030Estimated Market Value in 2023 (USD)$22.52 billionForecasted Market Value by 2030 (USD)$78.63 billionCAGR19.5%Target RegionUnited States
Featured Companies
Alphabet Inc.Amazon.com, Inc.Apple Inc.AptivBaidu, Inc.BayerischeMotorenWerke AG (BMW)Mercedes-Benz Group AAGDidiChuxing Technology Co.Ford Motor CompanyGeneral Motors
For more information on this report, please visit: https://www.researchandmarkets.com/r/p9y9fl
About ResearchAndMarkets.com
ResearchAndMarkets.com is a leading global source of international market research reports and market data providing the latest information on international markets, regional markets, key industries, top companies, new products and latest trends.
The U.S. autonomous vehicle market
