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(I-AutoNewsWire.com, June 07, 2021 ) The Autonomous Luxury Vehicle Market is projected to be 27,906 Units in 2025 and is projected to grow to 126,774 Units by 2030, at a CAGR of 35.35%. The market is principally driven by the need for a safe, productive, and efficient driving experience and growth of connected vehicle technology. The increasing demand for luxurious features in vehicles such as luxury interior, lounge, and visual and acoustic signals for greater safety would also drive the growth of the autonomous luxury vehicle market.
Sedan/Hatchback segment to hold the largest share of the autonomous luxury vehicle market, by body type
The increasing demand for luxury vehicles and ongoing testing of autonomous vehicles using sedan/hatchback cars will contribute to the growth of the autonomous vehicle market for luxury sedan/hatchback segment. Also, car sharing is expected to have a bigger market than personal mobility. The sedan or hatchback cars would be preferred for car sharing as they have a higher fuel efficiency than SUVs. Also, hatchback cars are relatively cheaper than other cars and have therefore witnessed the maximum demand in developing countries.
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Battery Electric Vehicle (BEV) – To acquire the largest market share in fuel type
BEV is estimated to hold the largest share of the autonomous luxury vehicle market, by fuel type. Stringent emission norms, environment safety, vehicle electrification, and government regulations are expected to boost the market for BEV autonomous luxury vehicles. The market for BEV autonomous luxury vehicle would also get a substantial boost with the development of a dependent and innovative battery technology.
North America: The largest market for the autonomous luxury vehicle market
North America is estimated to account for the largest share, in terms of volume, of the autonomous luxury vehicle market. The region comprises developed economies including the US and Canada. Developed economies have seen an increase in vehicle production volumes over the years, with OEMs catering not only to the domestic demand but overseas demand as well. Sustainable government regulations, demand for luxury vehicles, rising purchasing power, and concerns about increasing number of road accidents are the key factors that will drive the autonomous luxury vehicle market in the region.
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Key Market Players:
The report analyzes all major OEMs and tier I suppliers in the autonomous luxury vehicle market. Daimler (Germany), BMW (Germany), Tesla (US), and Audi (Germany) are some of the leading OEMs in the autonomous luxury vehicle market. The report also discusses the tier I suppliers such as Robert Bosch (Germany), Continental (Germany), Denso (Japan), and Delphi (UK)
• Automobile manufacturers
• Distributors and suppliers of automotive safety systems
• Industry associations and automotive experts
• LiDAR and Radar manufacturers
• Automotive component manufacturers
• Autonomous vehicle software providers
• Cab service providers
• Tier 1, Tier 2, and Tier 3 suppliers
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Mr. Aashish Mehra