The North American autonomous car market is expected to grow at a compound annual growth rate (CAGR) of 17% from 2023 to 2030 to reach a value of over $52 billion by 2030. According to a report by ResearchAndMarkets.com, contributing factors in the market growth are the need for safe and efficient driving options, evolution in connected car technology, increasing research and development in the autonomous car sector, and government support for these cars in terms of policies and rebates.
The North American autonomous car market is subdivided into internal combustion engine (ICE), battery electric vehicle (BEV), and hybrid electric vehicle (HEV), based on vehicle type. Among these, during the forecast period, BEV is expected to be the fastest growing category. Compared to other vehicle types, integration of fully autonomous technology is simpler in BEVs. These cars offer smoother connectivity among electrical components when compared to conventional and hybrid cars.