Autopilot systems are advanced driver assistance systems that automate steering, braking and acceleration functions to assist the driver and help promote safer driving. The increasing adoption of AI in autonomous driving technologies has accelerated the demand for autopilot systems. AI based autonomous driving focuses on situational awareness through sensor fusion, motion planning for navigation and path planning using deep learning techniques.
Market Overview:
Autopilot systems integrate cameras, radars and sensor fusion technologies to enable partial or conditional automation of driving functions like adaptive cruise control, lane centering and automatic emergency braking. They help improve vehicle control, reduce accidents and enable safer and more convenient driving experience. The growing demand for enhanced safety, traffic efficiency and driver convenience is fueling the adoption of autopilot systems across passenger and commercial vehicles.
Market key trends:
The rising demand for advanced driver assistance systems and growing investments in developing AI chips optimized for autonomous driving applications are driving the growth of autonomous driving segment within the autopilot systems market. Automakers are increasingly integrating powerful AI accelerators and specialized computer vision chips in vehicles to enable functionalities like real-time environmental mapping, path planning and scenario prediction. This is supporting the development of self-driving vehicles with Level 3-Level 5 automation capabilities. Moreover, leading autonomous vehicle companies are focusing on improving operational design domain to expand testing and commercialization of robotaxis without safety drivers.
The global Autopilot System Market Demand is estimated to be valued at US$ 2.95 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The autopilot system market is segmented by type into semi-autonomous and fully autonomous. The semi-autonomous segment is currently dominating the market owing to lower development costs and regulations allowing semi-autonomous vehicles on roads. However, the fully autonomous segment is expected to witness higher growth during the forecast period due to ongoing developments and testing of fully autonomous vehicles by key players.
Key Takeaways
The global autopilot system market is expected to witness high growth, exhibiting a CAGR of 18% over the forecast period, due to increasing demand for autonomous vehicles and supportive government regulations for testing autonomous vehicles.
Regional analysis
North America is currently the fastest growing region in the autopilot system market due to presence of major players like Tesla, Cruise, and Waymo focused on developing autonomous driving technologies. The US government is also supporting research and development of autonomous vehicles which is fueling the growth. Asia Pacific is expected to dominate the market during the forecast period supported by China's massive investments and initiatives for developing autonomous fleet networks.
Key players
Key players operating in the autopilot system market are Tesla, Zoox, Waymo, Cruise, Argo AI, Aurora, Motional, Pony.ai, Nuro, Embark, TuSimple, Plus, Inceptio Technology, WeRide, Pronto.ai, Vay, Phantom Auto, Ottopia, Cognata, AutonomouStuff. Tesla is currently dominating the market with its advanced driver assistance system and plans to launch fully autonomous vehicles by 2023. Waymo also has a significant market share with its extensive fleet of autonomous vehicles plying on roads for testing.
