PUBLISHER: The Business Research Company | PRODUCT CODE: 1428268
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428268
An autonomous vehicle development platform (AVDP) is a software platform that provides the necessary tools and infrastructure for the development of autonomous cars. These platforms can be integrated into test fleets of vehicles, enabling developers to create, evaluate, and validate self-driving technologies on a large scale. Companies and researchers leverage these platforms for the advancement of production-level Autonomous Vehicles (AVs).
The primary components of autonomous vehicle development platform (AVDP) include software and services. Software comprises instructions that guide machines in performing tasks, and it is a crucial element in autonomous cars as it enables them to perceive their surroundings, make decisions, and operate without human intervention. These platforms are employed in the development of both passenger cars and commercial vehicles. They offer various functionalities such as sensor simulation, data collection and analysis, as well as simulation and testing. These capabilities cater to a diverse range of end-users, including automotive manufacturers, technology companies, research institutions, and universities.
The autonomous vehicle development platform market research report is one of a series of new reports from The Business Research Company that provides autonomous vehicle development platform market statistics, including autonomous vehicle development platform industry global market size, regional shares, competitors with an autonomous vehicle development platform market share, detailed autonomous vehicle development platform market segments, market trends and opportunities, and any further data you may need to thrive in the autonomous vehicle development platform industry. This autonomous vehicle development platform market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The autonomous vehicle development platform market size has grown exponentially in recent years. It will grow from $22.58 billion in 2023 to $30.44 billion in 2024 at a compound annual growth rate (CAGR) of 34.8%. The growth observed in the historical period can be attributed to the development of connected vehicle technologies, the expansion of the electric and hybrid vehicle market, the emergence of ride-sharing and Mobility-as-a-Service (MaaS), a heightened awareness of road safety concerns, and the adoption of 5G and Vehicle-to-Everything (V2X) communication technologies.
The autonomous vehicle development platform market size is expected to see exponential growth in the next few years. It will grow to $92.03 billion in 2028 at a compound annual growth rate (CAGR) of 31.9%. The forecasted growth in the upcoming period can be attributed to the integration of advanced driver-assistance systems, the expansion of testing and validation infrastructure, an increase in demand for autonomous delivery vehicles, the adoption of simulation tools for autonomous vehicle testing, a heightened focus on user experience (UX) in autonomous vehicle design, and the rise of subscription-based models for autonomous vehicle platforms. Major trends expected in the forecast period include technological advancements in radar and lidar systems, collaborations between automakers and technology companies, the development of advanced sensor technologies, the growth of artificial intelligence and machine learning, advancements in high-definition mapping technologies, the integration of virtual reality (VR) in autonomous vehicle simulation, and the development of edge AI processors for onboard computing.
The anticipated growth in autonomous vehicle production is set to drive the expansion of the autonomous vehicle development platform. Autonomous vehicles, also known as driverless cars, possess the ability to operate and perform essential functions without human intervention, relying on their capacity to perceive their surroundings. Autonomous vehicle development platforms provide a reliable and robust solution for creating and implementing automated driving applications. The increasing production of autonomous vehicles will generate a heightened demand for sophisticated software and hardware systems, consequently leading to a larger market for autonomous vehicle development platforms. As an illustration, a report from the Insurance Institute for Highway Safety in August 2022 projected 3.5 million self-driving cars on American highways by 2025 and 4.5 million by 2030. Thus, the rising production of autonomous vehicles propels the growth of the autonomous vehicle development platform market.
The surge in urbanization is anticipated to contribute to the expansion of the autonomous vehicle development platform market. Urbanization, involving the increasing growth and expansion of cities along with population migration from rural to urban areas, leverages autonomous vehicle development platforms to enhance transportation efficiency and address growing challenges in urban mobility. According to the World Economic Forum in April 2022, over 4.3 billion people, accounting for 55% of the world's population, resided in urban settings, and this figure is projected to reach 80% by 2050. Consequently, the ongoing trend of urbanization serves as a driving force for the autonomous vehicle development platform market.
Technological advancements stand out as a prominent trend gaining momentum in the autonomous vehicle development platform market. Key companies within this market are directing their efforts toward the development of technological solutions to fortify their market positions. An example of this is Clearpath Robotics, a Canada-based manufacturer specializing in mobile robotics platforms for research and development. In October 2022, Clearpath Robotics unveiled OutdoorNav, an autonomous navigation software platform tailored for vehicle developers seeking to expedite autonomous vehicle development. OutdoorNav delivers reliable GPS-based navigation, facilitating faster and more efficient development of autonomous vehicles. Compatible with Clearpath's outdoor mobile platforms and industrial vehicles from other manufacturers, OutdoorNav enables off-road vehicles to autonomously navigate between waypoints using integrated obstacle detection and avoidance, continuous path planning, and compatible hardware.
Major players in the autonomous vehicle development platform industry are embracing a strategic partnership approach to foster innovation and offer comprehensive, integrated solutions. This approach involves companies leveraging each other's strengths and resources for mutual benefits and success. A case in point is the partnership between TTTech Auto, a US-based provider of software and hardware for driver assistance and autonomous mobility, and Mobileye, a US-based provider of autonomous driving and driver assistance technologies. The partnership aims to develop safe and reliable Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicle (AV) technology. Utilizing TTTech Auto's MotionWise software platform, which complies with safety standards and facilitates seamless communication and integration between the vehicle platform and Mobileye systems, they plan to implement Mobileye's SuperVision system in specific Original Equipment Manufacturer (OEM) initiatives.
In December 2022, Stellantis N.V., a Netherlands-based automotive manufacturing corporation, completed the acquisition of aiMotive for an undisclosed amount. This acquisition is anticipated to accelerate Stellantis' transformation into a sustainable mobility technology firm, supporting the mid-term development of its STLA AutoDrive platform. aiMotive, a Hungary-based company, specializes in the development of autonomous driving technology platforms.
Major companies operating in the autonomous vehicle development platform market report are Ford Motor Company, General Motors Co., BMW AG, Hyundai Motor Group, Honda Motor Co. Ltd., Hitachi Ltd., Siemens AG, DENSO Corporation, Qualcomm Inc., NVIDIA Corporation, Thales Group, Porsche Automobil Holding SE, Hexagon AB, Garmin Ltd., Ansys Inc., Transcore LP, Cubic Corp., Nuance Communications Inc., Teledyne FLIR LLC, Agero Inc., Kapsch TrafficCom AG, TomTom International BV, Ricardo Plc, Lanner Electronics Inc., Telenav Inc., Iteris Inc., Green Hills Software LLC, FiveAI Ltd., Sensys Networks Inc., Q-Free ASA.
North America was the largest region in the autonomous vehicle development platform market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the autonomous vehicle development platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the autonomous vehicle development platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The autonomous vehicle development platform market includes revenues earned by entities by providing blind spot detection, obstacles detection, and data monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Autonomous Vehicle Development Platform Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on autonomous vehicle development platform market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for autonomous vehicle development platform ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The autonomous vehicle development platform market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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