The promise of autonomous vehicles is getting closer to being an advanced reality. From advanced driver assistant systems (ADAS) to partial and full autonomy, industry experts have been focused on artificial intelligence (AI), machine learning, software, sensors, processing units for handling the main controls and processing data streams for self-driving vehicles. The concept of autonomous vehicles is growing exponentially due to the exponential increase in ride-hailing services. The cost of an autonomous taxi service is much less and is acceptable, but on the other hand, the series production of passenger vehicles is quite expensive. The cost of an AV ranges from ten thousands of dollars, which is very high for common people to purchase.
Read Report Overview: Autonomous Vehicle Processor Market
The global autonomous vehicle processor market accounted for $5.07 billion in terms of value in 2019 and is expected to reach $42.20 billion by 2030. The market is anticipated to grow at a CAGR of 22.98% during the forecast period 2020-2030. The North America region is expected to grow at a significant growth rate of 24.09% during the forecast period 2020-2030.
The autonomous vehicle market is also proportionally relative to the development of the automobile industry. The need for personal transportation, rapid urbanization in developing countries, and increasing disposable income of the middle-class population have influenced the vehicle market to substantially enhance its sales and growth in the autonomous vehicle segment. However, the demand for AVs in developing countries such as India, Vietnam, Mexico, and Africa will take a significant time to grow.
Europe to Witness the Highest Growth in the Market During the Forecast Period (2020-2030)
The demand for autonomous vehicle processors varies according to various regions, depending on the adoption rate of autonomous vehicles in the region. The North America region market holds a significant share among the different regions of the world.
The study provides a holistic perspective on market growth in terms of revenue estimates across different regions and countries. The report provides a cross-section analysis of the autonomous vehicle processor market by product and application in terms of market estimates and projections for different countries across different regions. Additionally, the research also covers regional and country-wise analysis for the market in various regions such as North America, Europe, Asia-Pacific and Japan (APJ), China, the U.K., MEA, and South America. The research is based on extensive primary interviews (industry leaders and market players) and secondary research (a host of paid and unpaid databases), along with various analytical tools that have been used to build the forecast and predictive models.
Competitive Landscape
The global autonomous vehicle processor market's competitive landscape consists of different strategies undertaken by key players across the e-mobility industry to gain traction and market share presence. Some strategies adopted by autonomous vehicle processor manufacturers are new product launches, business expansions, mergers, partnerships, and collaborations. Among all these strategies adopted, partnerships, acquisitions, and mergers have led to the popular choice of the strategy implemented in the autonomous vehicle processor market's competitive landscape. Some of the most prominent ecosystem players are Intel Corporation, Qualcomm Technologies, Inc., Tesla, Inc., and NVIDIA Corporation.
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Two of the most prominent examples of mergers and acquisitions are NVIDIA Corporation and ARM Inc.; in September 2020, the company announced its plans to acquire ARM Limited from SBG and Softbank at $40 billion. Intel Corporation leads the second-largest acquisition of the industry. Intel acquired Mobileye of Israel in March 2017 for $15.7 billion. The third-largest acquisition is in the approval stage; Xilinx, Inc. is being acquired by AMD, Inc. in FY2021 and will expand AMD's processor portfolio along with the target market.
