Lucintel anticipates that North America will be the fastest growing region in the autonomous car market

   September 25, 2019
According to a market report by Lucintel, the future of the autonomous car market looks promising with opportunities in the passenger cars, light commercial vehicle, and electric vehicles markets. The autonomous car market is expected to grow with a CAGR of 47% from 2019 to 2024. The major drivers for this market are the significantly growing number of accidents, supportive government initiatives and policies for the self-driving technology, high investment in R&D activities for the development of self-driving technology, and development of road and telecom infrastructure.

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In this market, passenger cars, light commercial vehicle, and electric vehicles are the major end use markets. Passenger car is the largest end use segment.

Within the autonomous car market, radar, ultrasonic, Lidar, and image are the major technology segment. Radar is the largest technology segment for autonomous cars.

North America will remain the largest region over the forecast period as the market witnesses a healthy demand for driverless cars.

Audi, BMW, Ford Motor Company, General Motors Company, Nissan Motor Company, Tesla Motors, Volvo Group, Toyota Motor Corporation, and Waymo are among the major manufacturers of autonomous cars.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the autonomous cars market by level of automation, by component, by fuel type, by end use, and by region. Lucintel has prepared a comprehensive research report titled "Autonomous Car Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the autonomous car market by level of automation, by component, by fuel type, by end use, and by region as follows:

By Level of Automation [$M shipment analysis for 2013 – 2024]

  • Level 1

  • Level 2

  • Level 3

  • Level 4

  • Level 5

By Component [$M shipment analysis for 2013 – 2024]

  • Radar

  • Ultrasonic

  • Lidar

  • Image

  • Others

By Fuel Type [$M shipment analysis for 2013 – 2024]   

  • Internal Combustion Engine Vehicles (ICE)

  • Hybrid Electric Vehicle (HEV)

  • Battery Electric Vehicle (BEV)

By End Use [$M shipment analysis for 2013 – 2024]   

  • Passenger Car

    • Small cars

    • Compact cars

    • Mid-Sized cars

    • Luxury cars

    • SUVs & Crossovers            

  • Light Commercial Vehicle

  • Electric Vehicle

By Region [$M shipment analysis for 2013 – 2024]

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany

    • Russia

    • France

    • United Kingdom

    • Italy

  • Asia Pacific

    • Japan

    • India

    • South Korea

    • Indonesia

    • Turkey

    • China

  • The Rest of the World

    • Brazil

This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or

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