United States Autonomous Car Market - Growth, Trends, and Forecast (2019 - 2024)

The US Autonomous Car Market is segmented by Level of Automation (Conditional Automation (Level 3), High Automation (Level 4), and Full Automation (Level 5)).

Market Snapshot

market summary
Study Period:

2018-2024

Base Year:

2018

Key Players:

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Market Overview

The US autonomous car market is anticipated to register a CAGR of about 46.39% during the forecast period, 2019-2024.   

  • Autonomous cars use technologies, such as RADAR, LIDAR, GPS, and computer vision, to sense their environment. Advanced control systems that are integrated into the car can interpret the sensory inputs, to detect the signboards or to avoid the collision.
  • Although, Level 4 and Level 5 (as scaled by SAE) autonomous cars are unlikely to get wide acceptance, by 2030, there would be rapid growth for Level 2 and Level 3 autonomous cars, which have advanced driver assistance systems, like collision detection, lane departure warning, and adaptive cruise control. Fully autonomous cars are not going to reach a wide customer base, unless, they are secure from cyberattacks and have limited or no accidents. If such concerns are addressed, the total number of autonomous car units is estimated to reach 20.8 million over the next decade.
  • Autonomous cars find application among the disabled, globally. According to the estimates provided by the American Community Survey (ACS), the overall rate of people with disabilities in the United States, in 2016, was 12.8%. The report also mentioned that the percentage of people with disabilities increased. These trends show a high possibility of market opportunities for the autonomous car manufacturers in the United States.

Scope of the Report

An autonomous car is defined as the vehicle, which is capable of sensing its environment and moving with little or no human input.

The US autonomous car market has been segmented by level of automation.

Level of Automation
Conditional Automation (Level 3)
High Automation (Level 4)
Full Automation (Level 5)

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Key Market Trends

People are Showing Willingness for Buying Safer and Efficient Vehicles

According to the NHTSA (National Highway Traffic Safety Administration), about 94% of the accidents occurring on the US roadways can be attributed to human errors, like drunken driving and speeding, among others. These can be mitigated with an autonomous car, in which, the functionality may follow the speed regulations stated in particular areas.

Autonomous vehicles can predict the impact between vehicles and decide a proper course of action to avoid a similar fate, to provide safer traveling on roads. This is achieved through numerous driver assistance technologies, such as lane-keeping assistance, parking assistance, and adaptive cruise control systems that have been or are being incorporated into autonomous cars.

Autonomous vehicles have experienced a major growth at the global level, from 2014 onward, as the global market is focused more on the fleet owners rather than individual owners. Navya, a global leader in the autonomous vehicles industry, produced a fleet of 45 vehicles for public transport service that is deployed across North America and Europe.

trend 1

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The Demand for Conditional Automation is Growing Rapidly across the County

The US autonomous car market, by the level of automation, is dominated by conditional automation (Level 3). In Level 3 automation, the autonomous vehicle driving system performs all the dynamic driving tasks, expecting the human driver to respond appropriately to the request to intervene. The dynamic driving task includes steering, braking, accelerating, and monitoring the vehicle, along with responding to events happening on the road.

Audi is the first company to come up with a Level 3 autonomous car by launching the Audi A8 in the market.

However, there are few limitations for Level 3 autonomous cars, such as constant awareness needed from the driver. Thus, this makes Level 3 automation less dependable. Consequently, several automotive manufacturers are pushing directly for level 4 autonomous cars, which do not require any inputs from humans.

Cameras, RADAR, and navigation are some of the systems deployed in conditional automated cars.

trend 2

Competitive Landscape

The US autonomous car market is consolidated and is majorly dominated by a few players, such as Apple, Waymo, Tesla, Ford, Honda, BMW, Nissan, Intel, and Uber. The autonomous cars are in the testing phase and are expected to be available for commercial use in the next couple of years. The vehicle manufacturers are investing heavily in autonomous/driverless car technology and making partnerships to offer the customers the best autonomous vehicle technology. For instance,

  • Daimler Trucks is planning to invest a total of more than EUR 2.5 billion in R&D, to focus ongoing trends of the automotive industry, such as e-mobility, connectivity, and automated commercial vehicle technology.
  • Toyota intends to extend partnerships with other major automotive companies to develop autonomous vehicles.
    • For instance, the company is partnering with NVIDIA Corporation to develop automated driving technologies using Artificial Intelligence. The company is aiming to develop automated driving systems using NVIDIA’s graphics processing unit technology.

Major Players

  1. Waymo
  2. Tesla
  3. BMW
  4. Intel
  5. Uber

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Level of Automation

      1. 5.1.1 Conditional Automation (Level 3)

      2. 5.1.2 High Automation (Level 4)

      3. 5.1.3 Full Automation (Level 5)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Company Profiles

      1. 6.2.1 Waymo LLC

      2. 6.2.2 Tesla Inc.

      3. 6.2.3 Ford Motor Company

      4. 6.2.4 Honda Motor Company Ltd

      5. 6.2.5 Bayerische Motoren Werke AG (BMW)

      6. 6.2.6 Nissan

      7. 6.2.7 Intel Corporation

      8. 6.2.8 Uber Technologies Inc.

      9. 6.2.9 Apple Inc.

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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