The north america automotive sensors market size is expected to reach USD 64.68 Billion by 2032, according to a new study by Polaris Market Research. The report “North America Autonomous Cars Market Share, Size, Trends, Industry Analysis Report, By Automation Level (Level 1, Level 2, Level 3, Level 4 and 5); By Vehicle Type; By Application; By Country; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Road accidents resulting in injuries and fatalities are frequent due to human error, responsible for over 90% of such incidents. The demand for advanced and secure driving technology has led to the expansion of the autonomous car market in north America. The north America autonomous car market is expanding rapidly, owing to an increase in R&D initiatives for autonomous vehicle development, advancements in connected car technology, rising demand for safe and efficient driving solutions, and significant support from the government.
The increasing popularity of connected vehicles in north america is due to the constant technological advancements and unique features that they offer. These features include seamless integration with smartphones, roadside assistance, alerts for traffic and collisions, and real-time traffic monitoring, which set connected cars apart from traditional passenger vehicles.
The demand for high-end technology is surging in the north america autonomous car market, leading to domination by semi-autonomous vehicles due to the need for ease in driving and increasing concern for safety and security.
Several US states, including California, Texas, Arizona, Washington, and Michigan, have tested and launched autonomous cars. However, these cars are currently confined to specific testing areas and driving scenarios. Audi leads in developing Level 3 autonomous vehicles, as seen with the launch of the Audi A8. However, Level 3 autonomy requires the driver to remain continuously alert while the vehicle operates autonomously.
The National Highway Traffic Safety Administration (NHTSA) states that the majority of road accidents in the US (about 94%) occur due to human errors such as drunk driving and speeding. To minimize such incidents, self-driving cars, which are programmed to obey specific speed limits in designated areas, can be used effectively.
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The advancement of IoT and sensor technology allows for more precise monitoring of the environment and obstacles in north america. Furthermore, the use of LiDAR sensors capable of penetrating fog and mist holds great promise for automation. The incorporation of AI algorithms and neural networks in self-driving systems improves not only driver safety but also traffic patterns. Blockchain emerges as a notable trend in the autonomous vehicle sector in north america, offering solutions for vehicle tracking, payment security, and efficient data management.
North America Autonomous Cars Market Report Highlights
Polaris Market Research has segmented the north america autonomous cars market report based on automation level, vehicle type, application, and country:
North America Autonomous Cars, Automation level Outlook (Revenue - USD Billion, 2019 - 2032)
North America Autonomous Cars, Vehicle type Outlook (Revenue - USD Billion, 2019 - 2032)
North America Autonomous Cars, Application Outlook (Revenue - USD Billion, 2019 - 2032)
North America Autonomous Cars, Country Outlook (Revenue - USD Billion, 2019 - 2032)
Report Attributes |
Details |
Market size value in 2024 |
USD 7.69 Billion |
Revenue Forecast in 2032 |
USD 12.95 Billion |
CAGR |
6.7% from 2024 – 2032 |
Base year |
2023 |
Historical data |
2019 – 2022 |
Forecast period |
2024 – 2032 |
Quantitative units |
Revenue in USD Billion, and CAGR from 2024 to 2032 |
Segments Covered |
By Sensor Type, By Technology, By Vehicle Type, By Application, By Country |
Country scope |
U.S., Canada |
Customization |
Report customization as per your requirements concerning countries, regions, and segmentation. |
For Specific Research Requirements |