PUBLISHER: The Business Research Company | PRODUCT CODE: 1682150
PUBLISHER: The Business Research Company | PRODUCT CODE: 1682150
Connected and autonomous mobility vehicles (CAVs) are vehicles capable of communicating with each other and the surrounding infrastructure, functioning without human intervention. These vehicles come equipped with an array of sensors, communication technologies, and artificial intelligence, enabling them to perceive their environment, interpret sensory data, and operate autonomously.
The automation levels in connected and autonomous mobility vehicles encompass level 1, level 2, level 3, level 4, and level 5. Level 1 automation comprises basic driver assistance features that can manage specific driving aspects but necessitate the driver's overall control and attentiveness. Semi-autonomous and fully autonomous propulsion systems are utilized by passenger cars and commercial vehicles, serving civil, defense, transportation and logistics, and construction purposes.
The connected and autonomous mobility vehicles market research report is one of a series of new reports from The Business Research Company that provides connected and autonomous mobility vehicles market statistics, including connected and autonomous mobility vehicles industry global market size, regional shares, competitors with a connected and autonomous mobility vehicles market share, detailed connected and autonomous mobility vehicles market segments, market trends and opportunities, and any further data you may need to thrive in the connected and autonomous mobility vehicles industry. This connected and autonomous mobility vehicles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The connected and autonomous mobility vehicles market size has grown exponentially in recent years. It will grow from $197.56 billion in 2024 to $290.62 billion in 2025 at a compound annual growth rate (CAGR) of 47.1%. The growth in the historic period can be attributed to emergence of advanced driver assistance systems (adas), development of gps and navigation systems, early research and development in autonomy, pioneering autonomous vehicle projects, shift towards mobility as a service (maas).
The connected and autonomous mobility vehicles market size is expected to see exponential growth in the next few years. It will grow to $1180.29 billion in 2029 at a compound annual growth rate (CAGR) of 42.0%. The growth in the forecast period can be attributed to consumer trust and adoption, urban mobility solutions integration, continued regulatory developments, increased adoption of on-demand services, evolution of v2x communication, growth in electric and hybrid vehicles. Major trends in the forecast period include consumer acceptance and adoption, urban mobility solutions, enhancements in sensor technologies, regulatory support and standards, rise in on-demand mobility services, development of v2x communication.
The increasing incidence of road accidents is anticipated to drive the growth of the connected and autonomous mobility vehicles market in the coming years. A road accident is defined as an incident resulting in property damage or personal injury that occurs in areas designated for public transportation or frequently used for transportation, involving at least one moving vehicle. Connected and autonomous vehicles (CAVs) leverage their connectivity and automation capabilities to help prevent and mitigate road accidents by executing evasive maneuvers, monitoring driver attention, and taking control of the vehicle when the driver is not attentive. For instance, in December 2023, the World Health Organization, a Switzerland-based intergovernmental organization, reported approximately 1.19 million road traffic deaths worldwide, with the European Union noting about 20,400 fatalities, a slight rise from 20,196 in 2022. Consequently, the increasing number of road accidents is propelling the growth of the connected and autonomous mobility vehicle market.
The growing demand for sustainable transport is projected to drive the expansion of the connected and autonomous mobility vehicles market. Sustainable transport encompasses transportation methods that are socially and environmentally responsible, utilizing modes that are energy-efficient, low- or zero-emission, and affordable. Connected and autonomous mobility vehicles (CAMVs) play a crucial role in reducing carbon emissions and enhancing air quality. They can optimize traffic flow, alleviate congestion, and improve transportation efficiency. For instance, in October 2024, the European Environment Agency, a Denmark-based government agency, reported that transport accounted for approximately 29% of total greenhouse gas emissions in the EU in 2022. While emissions are expected to decrease by 14% by 2030, substantial efforts are necessary to achieve the EU's goal of a 90% reduction by 2050. Thus, the increasing demand for sustainable transport is fueling the growth of the connected and autonomous mobility vehicles market.
Major companies in the connected and autonomous mobility vehicles market are strategically focusing on introducing third-generation autonomous driving systems to gain a competitive advantage. Third-generation autonomous driving systems are capable of performing all aspects of driving autonomously under specific conditions and in defined environments, such as highway driving. In March 2023, May Mobility launched its third-generation autonomous driving system, equipped with advanced sensors for improved object detection, enhanced communication systems, and multiple safety features. This system aims to ensure vehicle and passenger safety in various situations, contributing to the market's growth.
In November 2022, Stellantis N.V., a Netherlands-based automobile manufacturer, acquired aiMotive for an undisclosed amount. This acquisition is part of Stellantis's strategy to strengthen its presence in the connected and autonomous mobility vehicles sector by incorporating advanced AI and autonomous driving technologies into its STLA AutoDrive platform. The move aims to accelerate innovation, broaden its talent pool, and further its sustainability objectives. AiMotive, a Hungary-based automotive technology firm, specializes in developing software, tools, and hardware for autonomous driving.
Major companies operating in the connected and autonomous mobility vehicles market report are Microsoft Corporation, General Motors (GM), Mercedes-Benz Group AG, Ford Motor Company, Bayerische Motoren Werke AG (BMW), SAIC Motor Corp. Ltd., Tesla Inc., Nissan Motor Co. Ltd., Intel Corporation, BYD Co. Ltd., Groupe Renault, The Volvo Group, Magna International Inc., Uber Technologies Inc., ABB Ltd., Nvidia Corporation, Jaguar Land Rover Automotive PLC, Didi Chuxing Technology Co. Ltd., Baidu Inc., Aptiv PLC, Porsche Automobil Holding SE, Lyft Inc., Motional, Aurora Innovation Inc., SAE International, Nuro Inc., Argo AI, AutoX Inc., Swift Navigation, Nauto
North America was the largest region in the connected and autonomous mobility vehicles market in 2024. The regions covered in the connected and autonomous mobility vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the connected and autonomous mobility vehicles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The connected and autonomous mobility vehicles market consists of revenues earned by entities by providing services such as traffic management, fleet management, safety, and personal mobility. The market value includes the value of related goods sold by the service provider or included within the service offering. The connected and autonomous mobility vehicles market consists of sales of navigation devices, light detection and ranging systems, cameras, and RADAR systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
Connected And Autonomous Mobility Vehicles Global Market Report 2025 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 connected and autonomous mobility vehicles 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 connected and autonomous mobility vehicles ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The connected and autonomous mobility vehicles 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.