Autonomous vehicle market for luxury segment worth 126,774 units by 2030
The luxury segment of the autonomous vehicle market is projected to be 27,906 units in 2025 and to grow to 126,774 units by 2030, at a CAGR of 35.35%. The market will be driven principally by the need for a safe, productive, and efficient driving experience and growth of connected vehicle technology, as projected in the report, "Autonomous Vehicle Market for Luxury Segment by Body Type (Sedan/Hatchback & SUV), End User (Personal Mobility & Car Sharing), Fuel Type (BEV, Hybrid, ICE, & FCEV), Component (Radar, LiDAR, & Biometric Sensors) and Region - Global Forecast to 2030," published by MarketsandMarkets. Other factors in the growth of the segment would be the increasing demand for luxurious features in vehicles such as luxury interior, and visual and acoustic signals for greater safety.
The sedan/hatchback segment is expected to hold the largest share of the autonomous vehicle market for luxury segment, 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 the luxury sedan/hatchback segment. In addition, 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. Hatchback cars are also relatively cheaper than other cars and are therefore at higher demand in developing countries.
The battery electric vehicle (BEV) is expected to hold the largest share of the autonomous vehicle market for luxury segment, 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 vehicles would be boosted substantially with the development of a dependent and innovative battery technology.
North America is projected to account for the largest share, in terms of volume, of the autonomous vehicle market for luxury segment. The region comprises developed economies including the U.S. and Canada. Developed economies have seen an increase in vehicle production volumes over the years, with OEMs catering to both domestic and overseas demand. Sustainable government regulations, demand for luxury vehicles, rising purchasing power, and concerns about the increasing number of road accidents are the key factors that will drive the autonomous vehicle market for the luxury segment in the region.
The report analyzes the major OEMs and Tier I suppliers in the autonomous vehicle market for the luxury segment. 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 Tier I suppliers such as Robert Bosch (Germany), Continental (Germany), Denso (Japan), and Delphi (UK).
For more information about the report, go to http://www.marketsandmarkets.com/Market-Reports/luxury-cars-market-142188349.html.