The industry for fully autonomous cars in North America is projected to touch USD 52.3 billion by 2030, advancing at a CAGR of 17.1% during the projection period.
The development of the industry can be credited to the rising need for effective and safer driving possibilities, growing research and R&D activities for the expansion of autonomous cars, and help from state and federal governments for the development of autonomous cars are the key reasons propelling the development of the North American autonomous car industry. Autonomous tech provides safer performance and running road traffic, which are the key factors for attracting of customers toward such cars.
Based on vehicle autonomy, the North American autonomous car industry has been divided into fully autonomous cars and semi-autonomous cars. Among these, semi-autonomous cars led the industry, with level 1 semi-autonomous vehicles having the largest share, in recent years.
However, fully autonomous vehicles are projected to experience the fastest development in the coming years. The acceptance of level 5 and level 4 autonomous cars for sharing facilities will lead to the development of the industry for such cars.
On the basis of vehicle type, the North American autonomous car market has been divided into hybrid electric vehicles, battery electric vehicles, and internal combustion engines. Between these, ICE-based autonomous vehicles had the largest industry share, of more than 85%, in recent years, on the basis of volume.
However, during the projection period, BEVs are projected to experience the fastest development, credited to the growing aid from governments by giving incentives and grants for the acceptance of battery electric vehicles, and severe release guidelines.
Based on application, the North American autonomous car industry has been divided into commercial and personal. The autonomous cars utilized for commercial work are projected to attain quicker development during the projection period.
Federal and state government support for the development of autonomous cars, demand for efficient and safe driving choices, developments in connected and electric vehicle technologies as well as increased R&D activities on the North American market are among the major factors that have helped to boost the US Autonomous Car Market.
As the autonomous car tech continues to grow, the state and federal governments are also aiding these cars and knowing their possible impact. Each year, the count of laws being passed with respect to autonomous vehicles (including cars) is progressively growing. In recent years, 15 states in the U.S. passed 18 autonomous car-linked bills, and a total of 29 states have laid down autonomous vehicle-associated laws. Such steps taken by the governments are boosting the industry for autonomous cars in the continent.
