NEW YORK — The global autonomous vehicle (AV) development platform market size is estimated to increase by $82.788 billion from 2022 to 2027. The market’s growth momentum will progress at a compound annual growth rate (CAGR) of 30.94 percent, according to a report by Technavio.
The increasing demand for driver assistance systems is driving market growth. Driver assistance systems play a key role in Level 3 autonomous vehicles.
The capabilities of advanced driver assistance systems (ADAS) have increased over the years. Currently, these systems are mainly implemented in luxury vehicles. However, during the forecast period, they will be implemented in other vehicle segments with advances in technology.
Therefore, the increasing demand for driver assistance systems is expected to fuel market growth during the forecast period.
The global autonomous vehicle development platform market is fragmented. A few prominent vendors that offer autonomous vehicle development platforms in the market are Amazon.com Inc., ANSYS Inc., BMW AG, FiveAI Ltd., Ford Motor Co., General Motors Co., Green Hills Software LLC, Hexagon AB, Honda Motor Co. Ltd., Hyundai Motor Co., Mercedes Benz Group AG, NVIDIA Corp., Porsche Automobil Holding SE, Qualcomm Inc., Renault SAS, Siemens AG, Tata Consultancy Services Ltd., Tesla Inc., Toyota Motor Corp., and Trimble Inc. and others.
Automakers across the world are adopting advanced autonomous technologies to make driving safe and comfortable. This, in turn, will provide lucrative opportunities to market players. Key vendors in the market are expected to innovate their product portfolios.
Moreover, suppliers are expected to launch advanced AVDPs to cater to several vehicle variants. Such developments are expected to sustain the competition among global players and new players.
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Vendor offerings –
- BMW AG – The company offers autonomous vehicle development platform solutions such as the BMW Group High Performance D3 platform.
- Ford Motor Co. – The company offers autonomous vehicle development platform solutions with ARGO AI.
- General Motors Co. – The company offers autonomous vehicle development platform solutions such as the GM Vehicle Intelligence Platform.
Autonomous vehicle development platform market – Segmentation assessment
Technavio has segmented the market based on vehicle type (passenger car and commercial vehicle), end-user (mixed AVDP, image based AVDP, and sensor fusion based AVDP), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
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