The global self-driving cars market size is projected to reach from 37,090 thousand units in 2024 to 76,217 thousand units by 2035 at a CAGR of 6.8% during the forecast period. Rising concerns about road safety, traffic congestion, and the environmental impact of traditional vehicles are pushing the demand for autonomous electric vehicles. Additionally, the increasing popularity of ride-hailing services and the development of autonomous shuttles are expanding the market, especially in urban areas.
The Level 5 (L5) autonomous vehicle segment is set to be the fastest growing in the self-driving car market due to significant advancements in AI, sensor technologies, and global investments aimed at achieving full autonomy. Companies like DeepRoute.ai and Hyundai Motor Group are making notable strides in developing L5 vehicles, with investments such as the USD 100 million secured by DeepRoute.ai to enhance fully autonomous systems. Additionally, the collaboration between Hyundai and Motional to bring robotaxis to the streets emphasizes the commitment to overcoming technological and regulatory challenges. The growing focus on creating fully autonomous vehicles that require no human intervention positions the L5 segment for rapid growth in the coming years.
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The A&B segment of self-driving cars, consisting of compact and subcompact vehicles, is expected to experience the highest growth over the forecast period. These vehicles are popular due to their affordability, fuel efficiency, and suitability for urban environments. Models like the Kia Sonet and Hyundai i20 exemplify the segment’s appeal, offering consumers basic autonomy features such as adaptive cruise control. As demand for affordable, tech-enabled vehicles increases, especially in emerging markets, the A&B segment is becoming a key entry point for adopting self-driving technologies. Additionally, manufacturers are scaling up production to meet this growing demand, further accelerating the segment’s expansion.
The shared mobility segment of the self-driving cars market is set to experience the fastest growth during the forecast period. This includes ridesharing, robotaxi, car-sharing, and other commercial passenger transportation services, with autonomous vehicles expected to lead the way. The growing demand for ridesharing and robotaxi services, driven by the high cost of owning autonomous cars, is fueling this growth. Companies like Waymo LLC are actively developing business models around self-driving technology. At the same time, partnerships such as Hyundai and Motional’s robotaxi initiative in Las Vegas highlight the increasing adoption of autonomous vehicles for public transportation. Additionally, trials like Germany’s KIRA project and EasyMile’s fully driverless shuttles further demonstrate shared mobility’s progress and growing potential in the autonomous vehicle sector.
China is expected to dominate the Asia Pacific self-driving cars market during the forecast period, driven by the government’s proactive stance in fostering autonomous vehicle innovation. The Chinese government has set ambitious targets, such as ensuring that over 70% of new cars sold by 2025 include Level 2 or 3 capabilities. This policy has spurred extensive testing and adoption of autonomous technologies. For instance, in August 2024, Zeekr secured a Level 3 vehicle testing permit in China, reflecting regulatory support accelerating technological advancements. Additionally, initiatives such as Baidu’s Apollo Go robotaxi service, which plans to deploy 1,000 autonomous vehicles in Wuhan by the end of 2024, showcase the rapid commercialization of self-driving cars in China. These developments underscore China’s leadership in shaping the future of autonomous mobility.
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