Autonomous Vehicle Development Platform Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Autonomous Vehicle Development Platform Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Autonomous Vehicle Development Platform Global Market Report 2024, 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 in the historic period can be attributed to evolution of connected vehicle technologies, expansion of electric and hybrid vehicle market, rise of ride-sharing and mobility-as-a-service (maas), increase in awareness of road safety concerns, adoption of 5g and 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 growth in the forecast period can be attributed to integration of advanced driver-assistance systems, expansion of testing and validation infrastructure, rise in demand for autonomous delivery vehicles, adoption of simulation tools for autonomous vehicle testing, increasing focus on user experience (ux) in av design, rise of subscription-based models for autonomous vehicle platforms. Major trends in the forecast period include technological advancements in radar and lidar systems, collaboration between automakers and technology companies, development of advanced sensor technologies, growth of artificial intelligence and machine learning, development of high-definition mapping technologies, integration of virtual reality (vr) in autonomous vehicle simulation, development of edge ai processors for onboard computing.

Growing autonomous vehicle production is expected to propel the growth of the autonomous vehicle development platform going forward. An autonomous vehicle, also known as a driverless car, can run and execute critical activities without human involvement due to its capacity to recognize its environment. Autonomous vehicle development platforms offer a reliable and robust solution for developing and deploying automated driving applications. Growing production will increase the need for complex software and hardware systems, resulting in a larger market for autonomous vehicle development platforms. For instance, in August 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization for road safety, there will be 3.5 million self-driving automobiles on American highways by 2025 and 4.5 million by 2030. Therefore, the growing production of autonomous vehicles is driving the growth of the autonomous vehicle development platform market.

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The autonomous vehicle development platform market covered in this report is segmented –

1) By Component: Software, Service

2) By Vehicle Type: Passenger Car, Commercial Vehicle

3) By Functionality: Sensor Simulation, Data Collection And Analysis, Simulation And Testing

4) By End-User: Automotive Manufacturers, Technology Companies, Research Institutions And Universities

Technological advancements are a key trend gaining popularity in the autonomous vehicle development platform market. Major companies operating in the autonomous vehicle development platform market are focused on developing technological solutions to strengthen their position in the market. For instance, in October 2022, Clearpath Robotics, a Canada-based manufacturer of mobile robotics platforms for research and development, launched OutdoorNav, an autonomous navigation software platform designed for vehicle developers to build autonomous vehicles faster. OutdoorNav offers dependable GPS-based navigation for quicker, more effective autonomous vehicle development. It is compatible with Clearpath’s outdoor mobile platforms and industrial vehicles from other manufacturers. Off-road vehicles can move independently between waypoints without colliding using the software’s integrated obstacle detection and avoidance, continuous path planning, and compatible hardware.

The autonomous vehicle development platform market report table of contents includes:

Executive Summary
Autonomous Vehicle Development Platform Market Characteristics
Autonomous Vehicle Development Platform Market Trends And Strategies
Autonomous Vehicle Development Platform Market – Macro Economic Scenario
Global Autonomous Vehicle Development Platform Market Size and Growth

Global Autonomous Vehicle Development Platform Market Competitive Benchmarking
Global Autonomous Vehicle Development Platform Market Competitive Dashboard
Key Mergers And Acquisitions In The Autonomous Vehicle Development Platform Market
Autonomous Vehicle Development Platform Market Future Outlook and Potential Analysis
Appendix

Top Major Players: