Autopilot System Market Size Worth $10.11 Billion By 2032 | CAGR: 5.3%

The global autopilot system market size is expected to reach USD 10.11 billion by 2032, according to a new study by Polaris Market Research. The report “Autopilot System Market Share, Size, Trends, Industry Analysis Report, By Component (Camera, GPS, LiDAR, Sensors, Gyro, Software, Others); By Vehicle Type; By Propulsion Type; By Region; Segment Forecast, 2023- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The effectiveness of autopilot systems heavily relies on the prowess of AI and deep neural networks in perceiving and comprehending the vehicle's surroundings. Progress in artificial intelligence, supported by augmented data availability and enhanced computing capabilities, has led to significant strides in crucial aspects like computer vision, decision-making, and motion planning - all vital components for achieving self-driving capabilities. The capacity to efficiently process and extract insights from substantial volumes of driving data stands out as a pivotal driving factor.

The advent of autonomous vehicles is poised to revolutionize the mobility-as-a-service sector, particularly through the introduction of robotaxis. These driverless taxis, available on-demand at affordable rates, offer substantial revenue potential and cost efficiencies for operators. Leading companies such as Waymo, Cruise, Zoox, and Motional are actively engaged in testing and preparing to roll out commercial robotaxi services within urban environments. This development promises to unlock enhanced first and last-mile connectivity options, transforming the way individuals move within cities.

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Autopilot technology development requires significant investment and expertise in several domains, including sensors, software, data annotation, and validation. This has led to collaborative efforts between automakers, technology firms, chip manufacturers, and sensor providers to leverage their respective strengths. In addition, acquiring self-driving startups by corporate entities has become a strategic move to expedite technology development, testing, and eventual commercialization. This trend exemplifies the industry's commitment to advancing autonomous driving capabilities through synergistic partnerships and strategic acquisitions.

However, the advancement of autopilot technology demands substantial initial investments in R&D, on-road testing, infrastructure, mapping, and data annotation, among other areas. Although automakers and technology companies have invested billions of dollars into these endeavors over the past decade, they have yet to see significant returns and encountered delays, constraining widespread adoption by Original Equipment Manufacturers (OEM) beyond high-end vehicles. Due to the absence of economies of scale, costs remain a significant barrier.

Autopilot System Market Report Highlights

• The camera segment is expected to grow at the highest CAGR during the projected period on account of increasing autonomous driving technology
• The passenger cars segment accounted for the largest market share in 2022, which is mainly driven by cost-effectiveness, higher performance, and flexibility
• ICE Vehicles segment held a significant market revenue share in 2022, mainly due to better technological innovations
• Europe region dominated the market with a majority share in 2022, owing to exponential growth in technology and rising R&D investments
• The global key market players include Aptiv PLC (Aptiv), Continental AG, DENSO Corporation, General Motors Company (GM), Mobileye N.V. (Intel Corporation)

Polaris Market Research has segmented the autopilot system market report based on component, vehicle type, propulsion type, and region:

Autopilot System, Component Outlook (Revenue - USD Billion, 2019 - 2032)

• Camera
• GPS
• LiDAR
• Sensors
• Gyro
• Software
• Others

Autopilot System, Vehicle Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Commercial Vehicle
• Passenger Cars

Autopilot System, Propulsion Type Outlook (Revenue - USD Billion, 2019 - 2032)

• ICE Vehicles
• Hybrid Vehicles
• Electric Vehicle

Autopilot System, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Autopilot System Market Report Scope