United States Autonomous Vehicle Market

United States Autonomous Vehicle Market:

The United States autonomous vehicle market size is projected to exhibit a growth rate (CAGR) of 28.6% during 2024-2032. The significant technological advancements, imposition of supportive government policies, widespread vehicle utilization to reduce the number of traffic accidents, increasing consumer acceptance of autonomous technology, rising vehicle adoption by businesses, growing environmental concerns, and increasing vehicle demand to minimize traffic congestion are some of the major factors propelling the market.

United States Autonomous Vehicle Market Analysis:

• Major Market Drivers: Widespread vehicle adoption to reduce the number of accidents, and the increasing consumer acceptance of autonomous technology are some of the major factors proliferating the United States autonomous vehicle market growth.
• Key Market Trends: The growing environmental concerns and increasing emphasis on sustainability are facilitating autonomous vehicle demand owing to its fuel efficiency and lower carbon emissions. Moreover, the increasing vehicle demand to minimize traffic congestion and enhance the efficiency of transportation systems in urban and congested areas is acting as another growth-inducing factor.
• Challenges and Opportunities: Regulatory hurdles, safety concerns, and cybersecurity risks are some of the major challenges in the market growth. However, autonomous vehicle technology has the potential to significantly reduce traffic accidents caused by human error, potentially saving thousands of lives each year.

United States Autonomous Vehicle Market Trends:

Significant Technological Advancements

Rapid technological advancements represent an important factor in the evolution of the United States autonomous vehicle market. In line with this, the introduction of new sensors, such as LIDAR, RADAR, and high-definition (HD) cameras, which provide autonomous vehicles with a comprehensive understanding of their environment, is supporting the market growth. For instance, in September 2023, Mercedes-Benz launched Mercedes-Benz Drive Pilot, a certified SAE Level 3 system in U.S. The drive pilot takes care of the dynamic driving task while allowing the driver to focus on other activities. Drive Pilot incorporates multiple sensors, including LiDAR, a rear camera, and microphones for emergency vehicle detection. Moreover, the increasing penetration of advanced computing systems that utilize machine learning (ML) algorithms to analyze enormous amounts of data to interpret complex situations in real-time, effectively mimicking the decision-making process of a human driver, is contributing to the market growth. For instance, in January 2024, TIER IV, an open-source autonomous driving (AD) technology solutions provider, launched the Co-MLOps (Cooperative Machine Learning Operations) Project. This new initiative sought to accelerate the development of AI (Artificial Intelligence) for autonomous driving. The deployment of the Co-MLOps Platform, created under this project, would allow for the global exchange of managed sensor data, such as camera images and LiDAR (Light Detection and Ranging) point clouds received from multiple regions. TIER IV demonstrated AI models at CES 2024 in Las Vegas. These factors are further expected to positively influence the future of autonomous vehicle in United States.

Imposition Of Supportive Government Policies

The imposition of supportive policies by the Government of the United States of America is a pivotal factor influencing the growth of the autonomous vehicle market. Regulatory bodies at federal and state levels are actively engaged in creating a conducive environment for testing and deploying autonomous vehicles in order to ensure safety. For instance, in March 2022, USDOT created the Automated Vehicles Comprehensive Plan to improve the Department's efforts to prioritize safety while planning for the future of transportation. Building on the ideas outlined in AV 4.0, the strategy identified three objectives for Automated Driving Systems (ADS): promote collaboration and transparency, modernize the regulatory environment, and prepare the transportation system. Besides this, several state governments in the United States are passing legislation that allows for the testing and commercial use of autonomous vehicles under specific conditions. For instance, in 2020, the National Highway Traffic Safety Administration initiated Automated Vehicle Transparency and Engagement for Safe Testing. As part of the AV TEST effort, states and corporations could voluntarily submit information concerning automated driving system testing to NHTSA, which the public can examine through the agency's interactive portal. Also, in July 2023, Volkswagen started its first U.S. autonomous vehicle test pilot in Austin. It included a set of ten all-electric IDs. Buzz vehicles are equipped with an autonomous driving (AD) technology platform created in collaboration with the technology company, Mobileye. These factors are further contributing to the United States autonomous vehicle market share.

Growing Demand for Autonomous Cars

The demand for autonomous cars is increasing significantly owing to the need for ease in driving along with rising concerns for safety and security. Moreover, autonomous cars have the potential to significantly reduce traffic accidents caused by human error, which remains a leading cause of road fatalities. As consumers become increasingly aware of the safety benefits offered by autonomous vehicles, they are more inclined to adopt this technology. For instance, according to the NHTSA (National Highway Traffic Safety Administration), human errors, such as drunk driving and speeding, account for around 94% of all incidents on U.S. roadways. These can be addressed by using an autonomous automobile, which may adhere to speed limits in specific places. Moreover, according to the United States autonomous vehicle market outlook, there is a growing shift towards electric and autonomous vehicles which is driven in part by growing environmental concerns, including climate change and air pollution. Autonomous electric vehicles (AEVs) have the potential to reduce greenhouse gas emissions and improve air quality compared to traditional gasoline-powered cars. For instance, in June 2023, Kia, South Korea's carmaker, announced to launch its all-electric EV9 flagship SUV in the United States. The EV9 has a 99.8 kWh battery and can travel approx. 501 kilometers on a single charge. In addition, the GT-line vehicle would include Level 3 autonomous driving technology with a Highway Driving Pilot program.

United States Autonomous Vehicle Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the United States autonomous vehicle market report, along with forecasts at the country and regional levels for 2024-2032. Our report has categorized the market based on propulsion type, level, and vehicle type.

Breakup by Propulsion Type:

• Semi Autonomous
• Fully Autonomous
   

The report has provided a detailed breakup and analysis of the market based on the propulsion type. This includes semi autonomous and fully autonomous.

Semi-autonomous vehicles incorporate features such as adaptive cruise control, lane-keeping, and emergency braking, which assist the driver in maintaining better control and significantly decrease the possibility of accidents by human error. Additionally, they offer a transitional step between traditional cars and fully autonomous vehicles, allowing consumers to get accustomed to automation without radical change. While fully autonomous vehicles have the potential to remove human error altogether, offering the promise of safer roads. These vehicles can be programmed to operate at optimum speeds for fuel efficiency. Moreover, their ability to communicate with other vehicles can help in streamlining traffic flow and reducing congestion.

Breakup by Level:

• Level 1
• Level 2
• Level 3
• Level 4
• Level 5
   

A detailed breakup and analysis of the market based on the level has also been provided in the report. This includes level 1, level 2, level 3, level 4, and level 5.

Level 1, also known as driver assistance, helps maintain safe distances between vehicles, reducing the risk of rear-end collisions. It relieves some manual tasks, like maintaining constant speed providing a more relaxed driving experience. While, level 2, also known as partial automation, provides features like lane-keeping assist and advanced adaptive cruise control to minimize the risks of lane departure and collisions. Additionally, it serves as a transition point for consumers to adapt to autonomous technology. Moreover, level 3, also known as conditional automation, alerts the driver when human intervention is needed, serving as a safety net. It can adapt to changing traffic conditions more efficiently, potentially reducing congestion. Besides this, level 4, also known as high automation, can operate without any human attention, making vehicles highly autonomous in specific scenarios. Additionally, it can operate autonomously in predefined areas, making it ideal for controlled environments like campuses. Also, level 5, also known as full automation, can handle any driving scenario that a human driver could, offering universal application. Furthermore, it can operate round-the-clock without the need for human drivers, thus substantially reducing labor costs.

Breakup by Vehicle Type:

• Passenger Car
• Commercial Car
   

The report has provided a detailed breakup and analysis of the market based on the vehicle type. This includes passenger car and commercial car.

Autonomous passenger cars can communicate with each other to maintain optimum speeds and distances, helping to alleviate traffic congestion. Additionally, they can optimize fuel consumption through smart navigation and constant speed maintenance. Moreover, autonomous technology allows for a more relaxed driving experience, giving passengers the freedom to engage in other activities while commuting. Moreover, autonomous commercial vehicles can operate around the clock, increasing efficiency and productivity for businesses. Additionally, they offer consistent performance, reducing the variability that comes with human drivers. Moreover, autonomous commercial vehicles can be integrated into a more controlled and efficient supply chain management system.

Breakup by Region:

• Northeast
• Midwest
• South
• West
   

The United States autonomous vehicle market research report has also provided a comprehensive analysis of all the major regional markets, which include Northeast, Midwest, South, and West.

The Northeast region has an extensive road network and well-maintained urban settings conducive to the initial testing and deployment of autonomous vehicles. Furthermore, the region is a center for technology and innovation, attracting top talent and venture capital to autonomous vehicle projects. Moreover, the Midwest region hosts several major automotive companies and suppliers, making it easier for autonomous vehicle firms to form partnerships and supply chain linkages. Additionally, the existing automotive industry in the region has generated a pool of skilled workers knowledgeable in vehicle manufacturing and technology. While the South region offers a warm climate that can be ideal for testing autonomous vehicles without the complications of snow or extreme cold. Furthermore, the region has a mix of urban and rural settings, offering varied landscapes for autonomous vehicle testing. Also, the West Coast region is generally more receptive to tech innovations, including autonomous vehicles. It provides easy access to substantial venture capital funds focused on tech startups, including those in the autonomous vehicle segment.

Competitive Landscape:

Major market players are investing in innovation to improve sensor technology, machine learning (ML) algorithms, and data analytics. Furthermore, they are partnering with traditional automakers, governments, and tech firms to combine expertise and resources. Besides this, companies are gathering extensive data on road conditions, traffic patterns, and human behavior to train machine learning (ML) models and improve vehicle performance. Furthermore, leading players are focusing on developing advanced safety features, including fail-safes and redundancies, to minimize the risk of accidents. In addition, they are actively engaging with regulatory bodies to shape policies and ensure that their vehicles meet current and future standards. Several companies are offering ride-hailing services with their autonomous fleets to gain consumer acceptance.

The market research report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided.

United States Autonomous Vehicle Market Recent Developments:

• May 2024: Volvo Autonomous Solutions demonstrated an autonomous truck, equipped with autonomous driving technology developed by Auroro Innovation at the ACT Expo in Las Vegas. The system included high-resolution cameras, imaging radar, patented LIDAR that can identify things up to 400 meters away, artificial intelligence algorithms, twin computers, and more sensors.
• February 2024: Oxa, an autonomous vehicle company, launched a commercial self-driving bus in Florida. Oxa driver software would support the driverless service in the U.S., which is operated by American shuttle provider Beep in partnership with the Jacksonville Transport Authority and the Florida State College at Jacksonville.
• January 2024: TIER IV, an open-source autonomous driving (AD) technology solutions provider, launched the Co-MLOps (Cooperative Machine Learning Operations) Project. This new initiative sought to accelerate the development of AI for autonomous driving.

United States Autonomous Vehicle Market Report Scope:

Key Questions Answered in This Report:

• How has the United States autonomous vehicle market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the United States autonomous vehicle market?
• What is the impact of each driver, restraint, and opportunity on the United States autonomous vehicle market?
• What is the breakup of the market based on the propulsion type?
• Which is the most attractive propulsion type in the United States autonomous vehicle market?
• What is the breakup of the market based on the level?
• Which is the most attractive level in the United States autonomous vehicle market?
• What is the breakup of the market based on the vehicle type?
• Which is the most attractive vehicle type in the United States autonomous vehicle market?
• What is the competitive structure of the United States autonomous vehicle market?
• Who are the key players/companies in the United States autonomous vehicle market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the United States autonomous vehicle market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the United States autonomous vehicle market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the United States autonomous vehicle industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.