The Autonomous Driving Software Market Size is valued at USD 1.67 Bn in 2023 and is predicted to reach USD 4.08 Bn by the year 2031 at an 12.1% CAGR during the forecast period for 2024-2031.
The market for autonomous driving software is expanding due in large part to the growing need for safer and more effective transportation options. Automotive manufacturers are obligated to integrate safety features into their vehicles due to the worldwide enforcement of strict safety regulations. Self-driving cars, including trucks and other vehicles, are designed to operate safely without the need for a driver to take control. While designs may vary, most self-driving systems rely on a combination of sensors, such as radar, to create and maintain a detailed map of their environment.
The software processes these inputs to generate a driving path and sends commands to the vehicle’s actuators, which control steering, braking, and acceleration. To ensure safe operation, the software utilizes hard-coded rules, predictive modeling, obstacle avoidance algorithms, and intelligent object discrimination to navigate traffic laws and avoid obstacles effectively. The autopilot driving software is instantly modified by this change because it helps to comply with specific safety requirements. To ensure vehicle safety, it makes use of complex algorithms and real-time data processing.
Furthermore, because autonomous driving technologies can be seamlessly included into the electronic structures of electric vehicles, the increasing popularity of EVs supports the advancement of these technologies. Simultaneously to this, the rigorous development of advanced driver assistance system (ADAS) technology sets even greater standards for sophisticated software applications utilized by the automotive sector. Among the several automation and safety features that are part of ADAS are adaptive cruise control and lane-keeping assistance. Constant advancements in sensor fusion, AI, and machine learning (ML) technologies are driving the industry.
Competitive Landscape
Some of the Major Key Players in the Autonomous Driving Software Market are
- Autox
- Cruise
- Carmera
- Embark Trucks
- Magna International
- Motional
- Nauto
- Mobileye
- Nvidia Corporation
- Tesla Inc
- Siemens Ag
- Qualcomm
- Huawei
- Aurora Innovation Ltd.
- Aptiv
- Waymo
- Green Hills
- Blackberry
- Astemo
- Cariad
- Baidu
- Continental Ag
- Robert Bosch
- Woven (By Toyota)
- Ai Motive
- Pony Ai
- Kpit
- Oxa Autonomy Limited
- Zoox, Inc.
- Imagry
- Wayve Technologies Ltd.
Market Segmentation:
The Autonomous Driving Software Market is segmented based level of autonomy, vehicle type, propulsion, software type. Based on the Level of Autonomy, the market segmented into L2+, L3, L4. Based on the vehicle type, the market segmented into passenger cars, commercial vehicles. Based on Propulsion, the market segmented into, ICE, electric. Based on software type, the market segmented into perception & planning software, chauffeur software, interior sensing software, supervision/monitoring software.
The L2+ Solutions Segment Is Expected To Have The Highest Growth Rate During The Forecast Period
Based on the level of autonomy, the market segmented into L2+, L3, L4. Among these, the L2+ solutions segment is expected to have the highest growth rate during the forecast period. This level represents partial automation, where the vehicle can control steering, acceleration, and braking in certain conditions, but the driver must be engaged and ready to take over. L2+ autonomous vehicles offer advanced driver assistance features like lane departure warning, adaptive cruise control, blind spot detection, automated emergency braking, and lane-keeping assistance. The "plus" indicates systems that offer more advanced features, such as automated lane changes or advanced cruise control. L2+ is a rapidly growing segment as it balances automation with driver control.
The Passenger Cars Models Segment Dominates the Market
Based on the vehicle type, the market segmented into Passenger Cars, commercial vehicles. Among these, the passenger cars models segment dominates the market. This dominance is driven by the high adoption rate of advanced driver assistance systems (ADAS) and autonomous features in passenger vehicles. Major automotive OEMs are focusing heavily on integrating autonomous technologies into passenger cars, catering to the growing consumer demand for enhanced safety, convenience, and driving experience.
Asia Pacific Have the Largest Market Share During Forecast Period
The region controls the majority of the global market because of the rising use of these cars and consumer desire for features with cutting-edge technologies. Automakers intend to extend their production networks and achieve technological advancements in developing nations like China and India. The Asia Pacific region is home to leading technology companies, automotive manufacturers, and startups that are heavily investing in autonomous driving technologies. Strong R&D capabilities, coupled with partnerships between tech firms and automakers, drive innovation and market growth.
Recent Developments:
- In April 2024, Mobileye, declared that it has shipped clients the first production-candidate hardware and software of its new EyeQTM6 Lite system-on-a-chip, which will power sophisticated driver-assistance features in a number of models that will be released this year. With the EyeQ6L scheduled to be installed in 46 million cars over the next three years, this milestone signifies the launch of the EyeQ6 family, which has quickly emerged as the preferred ADAS solution for the worldwide auto industry. The EyeQ6 High advanced system-on-chip, which is scheduled for release in early 2025, will come after it.
- In March 2024, NVIDIA, declared that the NVIDIA DRIVE ThorTM centralized car computer has been accepted by top transportation firms to power their next-generation consumer and commercial fleets, which include trucks, new energy vehicles, robotaxis, robobuses, and last-mile autonomous delivery vehicles.
Autonomous Driving Software Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 1.67 Bn |
|
Revenue Forecast In 2031 |
USD 4.08 Bn |
|
Growth Rate CAGR |
CAGR of 12.1% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Level of Autonomy, Vehicle Type, Propulsion, Software Type |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South Korea; South East Asia |
|
Competitive Landscape |
Autox, Cruise, Carmera, Embark Trucks, Magna International, Motional, Nauto, Mobileye, Nvidia Corporation, Tesla Inc, Siemens Ag, Qualcomm, Huawei, Aurora Innovation Ltd., Aptiv, Waymo Green Hills, Blackberry, Astemo, Cariad, Baidu, Continental Ag, Robert Bosch, Woven (By Toyota), AI Motive, Pony AI, Kpit, Oxa Autonomy Limited, Zoox, Inc., Imagry, Wayve Technologies Ltd. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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