United States Autonomous Car Market Size, Share, and COVID-19 Impact Analysis, By Type (Fully Autonomous, Semi-Autonomous), By Application (Transportation & Logistics, Civil, Defense, Others), and United States Autonomous Car Market Insights Forecasts to 2033

Industry: Automotive & Transportation

RELEASE DATE Dec 2023
REPORT ID SI3309
PAGES 200
REPORT FORMAT PathSoft

United States Autonomous Car Market Insights Forecasts to 2033

  • The United States Autonomous Car Market Size was valued at USD 11.79 Billion in 2023.
  • The Market Size is Growing at a CAGR of 19.02% from 2023 to 2033.
  • The United States Autonomous Car Market Size is Expected to Reach USD 67.25 Billion by 2033.

 

United States Autonomous Car Market

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The United States Autonomous Car Market Size is Expected to Reach USD 67.25 Billion by 2033, at a CAGR of 19.02% during the forecast period 2023 to 2033.

 

Market Overview

Autonomous cars can detect their surroundings and operate without human intervention. It is not necessary for a human passenger to take the wheel of the vehicle at any point, nor is it necessary for them to be inside the vehicle at all. Autonomous cars can perform all of the tasks of a skilled human driver. Furthermore, as the world's technological leader, the United States' ingenuity and innovation have historically transformed how people travel and connect. The United States sustained leadership in cutting-edge technologies, such as autonomous cars, under this administration. Autonomous cars also referred to as self-driving or driverless cars, possess the ability to perceive and interpret their surroundings while requiring little to no human input. In the US, autonomous cars have emerged as the main automation and connectivity technological revolution. Advanced technologies such as computers, smartphones, and the internet combine with cars to help and automate driving tasks. Autonomous cars have the potential to drastically lower human error-related traffic accidents and increase traffic efficiency, which will raise demand from businesses, governments, and consumers. The market for autonomous cars is also being driven by rising consumer awareness of the potential advantages of these vehicles, such as decreased stress during commutes and increased productivity.

 

Report Coverage

This research report categorizes the market for the United States autonomous car market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States autonomous car market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the United States autonomous car market.

 

United States Autonomous Car Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 11.79 Billion
Forecast Period:2023 - 2033
Forecast Period 2023 - 2033 CAGR:19.02%
2033 Value Projection:USD 67.25 Billion
Historical Data for:2019 - 2022
No. of Pages:200
Tables, Charts & Figures:110
Segments covered:By Type, By Application, and COVID-19 Impact Analysis.
Companies Covered: Bayerische Motoren Werke AG (BMW), Intel Corporation, Waymo LLC, Tesla Inc., Ford Motor Company, Honda Motor Company Ltd, Uber Technologies Inc., Apple Inc., Nissan Motor Corporation, Others.
Pitfalls & Challenges:COVID-19 Empact, Challenge, Future, Growth, & Analysis

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Driving Factors

United States government funding, a supportive regulatory framework, and investment in digital infrastructure are expected to drive demand for automotive cars during the forecast period. Additionally, it enables both non-drivers and those with disabilities to have independent mobility. They provide a great deal of comfort and flexibility so that anyone can work, read, or even rest while travelling, which increases productivity. Autonomous cars have also been introduced by growing technological advancement and diversity in the automotive sector. In automotive cars, autonomous cars represent a significant technological advancement after the launch of electric and hybrid vehicles. An increase in human error-related accidents has made autonomous technology a necessity in the automotive industry.

 

Restraining Factors

The growth of the market for autonomous or self-driving cars is constrained in these countries by factors such as inadequate infrastructure outside of urban areas, cost considerations, and inadequate driving instruction or discipline.

 

Market Segment

  • In 2023, the semi-autonomous segment accounted for the largest revenue share over the forecast period.

Based on the type, the United States autonomous car market is segmented into fully autonomous and semi-autonomous. Among these, the semi-autonomous segment has the largest revenue share over the forecast period. High-end technology is required due to the growing concern for security and safety as well as the desire for easy driving, which in turn drives up demand for semi-autonomous vehicles.  Semi-autonomous cars will be more fuel-efficient since they can accelerate and decelerate more efficiently than a human driver, and because travel time and idling time will be less.

 

  • In 2023, the transportation & logistics segment accounted for the largest revenue share over the forecast period.

Based on application, the United States autonomous car market is segmented into transportation & logistics, civil, defence, and others. Among these, the transportation & logistics segment has the largest revenue share over the forecast period. The same technology powers the artificial intelligence systems that enable autonomous driving in trucks and cars. However, a truck's weight is significantly more than a cars, so it takes longer to stop and is less able to avoid collisions. Automakers have historically made investments in lane-centering steering, cruise control, hands-free steering, and parking assistance, among other self-driving technologies. These technologies, especially in heavy vehicles like trucks, have their limitations.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States autonomous car market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Bayerische Motoren Werke AG (BMW)
  • Intel Corporation
  • Waymo LLC
  • Tesla Inc.
  • Ford Motor Company
  • Honda Motor Company Ltd
  • Uber Technologies Inc.
  • Apple Inc.
  • Nissan Motor Corporation
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Development

  • In May 2023, Waymo announced an expansion of its self-driving car service to Phoenix, Arizona. The fact that Waymo is expanding its self-driving car service indicates that it is ready to begin commercializing its offering and is confident in its technological capabilities.

 

Market Segment

This study forecasts regional and country revenue from 2022 to 2033. Spherical Insights has segmented the United States autonomous car market based on the below-mentioned segments:

 

United States Autonomous Car Market, By Type

  • Fully Autonomous
  • Semi-Autonomous

 

United States Autonomous Car Market, By Application

  • Transportation & Logistics
  • Civil
  • Defense
  • Others

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