The autonomous vehicle market was estimated at 6.6 million units in 2017 and is anticipated to reach 67.5 million units by 2028, growing at a CAGR of 20.78% during the forecast period. According to BIS Research’s new market intelligence report, "Global Autonomous Vehicle Market - Analysis and Forecast, 2018-2028," this growth can be attributed to the increasing demand for active safety features such as adaptive cruise control, blind spot detection, and automatic parking systems. In addition, factors such as increasing push from governments as well as consumers to ensure road safety, along with the development of connected and autonomous infrastructures, and growing demand for highly autonomous vehicles (L4 and L5), are expected to drive the growth of the global market for autonomous vehicles during the forecast period from 2018 to 2028.
Because of ongoing changes in the industry, the study incorporates a chapter on the market dynamics, including the key driving and restraining forces of the market, along with opportunities that can arise for the global autonomous vehicle market during the forecast period. The market numbers play an important role in the industry; therefore, proper market sizing and estimation by level of autonomy, vehicle type, and geographical location were examined in the study. The report identifies the potential for further development in the form of product launches and development and business expansions, among others. It also includes a separate section for competitive landscape. Additionally, the recent activities of the key players in this market are documented in the form of key developments.