Autonomous Vehicle Processor Market Anticipated to Reach $XX.XX Billion in 2030, BIS Research Report


Posted April 14, 2022 by harshbisR-0

According to Bis Research, 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.
 
According to Bis Research, 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 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.

Usage of autonomous vehicles (AVs) reduces the traffic density due to fleet formation by connected vehicles utilizing the road network. Also, autonomous systems enable these vehicles to park themselves, reducing the congestion further. The geographical infrastructure of the roads across the globe and technical and safety concerns of using the self-driving vehicles are some of the restraints faced by both the AV OEMs and hardware manufacturers. Simultaneously, the high growth potential of these vehicles in commercial applications like product deliveries, taxi services (robotaxis), and mining activities are some of the factors that are expected to drive the market in the upcoming years, thus, stimulating the development and manufacturing of advanced processors for autonomous vehicles in the market.

Europe to Witness the Highest Growth in the Autonomous Vehicle Processor 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.

Impact of COVID-19 on the Autonomous Vehicle Processor Market:

Over the short to mid-term, the COVID-19 pandemic could restrict the adoption of trend-setting innovations, such as autonomous vehicles, as OEMs and investors downsize the development costs to focus more on day-to-day cash management issues. In the current pandemic situation, OEMs might halt autonomous vehicle testing for a couple of months. Additionally, interest in micro-mobility and shared mobility suppliers may drop. That being said, the pandemic could produce some permanent shifts over both the short and long term. For instance, if approved for on-road use, AVs could see higher-than-expected demand since they enable physical distancing. Remote work - now common during the pandemic - could become the norm if companies recognize their capabilities. If more people permanently work from home, the reduction in commutes would likely produce a long-term decrease in vehicle miles traveled. As of April 2020, Ford had delayed the launch of its robotaxi and autonomous delivery services from 2021 to 2022, owing to the coronavirus pandemic's economic impact.

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Market Drivers:

The increasing concern of global warming resulting in depleting the ozone layer is one of the key problems and is acting as a vital push factor for adopting the shared mobility concept by developed countries such as the U.S. and European countries. In today's era, major progressive cities have the largest chunk of private car owners contributing to elevation in pollution Level. Essential mobility as a service (MaaS) providers such as MaaS Global, Uber, and DiDi have indicated that nearly 70% of on-road vehicle capacities are not properly utilized. The average occupancy in a vehicle is close to 1.5 passengers/car, which depicts the vehicles' incompetent utilization. Therefore, a commuter is not able to comprehend the total lifetime cost of private vehicle ownership. These ridesharing providers have low fixed cost packages and offer user-friendly applications, making them ideal for customers without access to public transportation or personal vehicles.

Competitive Landscape and Key Market Players:

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. 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.

Product launches are another preferred strategy adopted by the market players to enhance their product offerings and global footprint. For instance, in December 2019, NVIDIA Corporation launched a new and advanced autonomous driving platform called DRIVE AGX Orin. The Orin SoC consists of NVIDIA's GPU, Arm Hercules CPU, and the power to perform 200 trillion operations per second, which is nearly 7x the performance of Xavier SoC.

Key Questions Answered in this Report:

• What are the underlying structures resulting in the emerging trends within the autonomous vehicle processor market?
• How are automotive OEMs and other players entering the market?
• How are the emerging technologies driving the growth of the autonomous vehicle processor market?
• What are the views of CXOs and senior management of the autonomous vehicle processor companies operating in the space?
• Which autonomous vehicle processor technology is expected to be leading the market by 2030?
• What were the market volume, value, and pricing of the leading segments and subsegments of the market in 2019, and how is the market estimated to grow during the forecast period?
• How is the industry expected to evolve during the forecast period 2020-2030?
• How is the industry impacted by the COVID-19?
• What are the key strategies that have been implemented by the key players to sustain in the competitive market?

About BIS Research:

BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

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Issued By Harsh Singla
Country United States
Categories Advertising , Automotive , Research
Tags autonomous vehicle processor industry , autonomous vehicle processor market , autonomous vehicle processor report , market analysis , market report , market research
Last Updated April 14, 2022