Global Autonomous Electric Vehicle Market 2021-2026

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    Autonomous vehicles are commonly known as driverless vehicles which are able to operate themselves as well as perform all the vital functions without the need for human intervention with the help of AI control units receiving inputs from different sensors. Such vehicles use a fully automated driving system that allows the vehicle to react and respond to external stimuli just as a human driver would by monitoring a wide range around the car forming a 3D map. The signals form inputs and facilitate the electric drive train to respond.


    infographic: Autonomous Electric Vehicle Market, Autonomous Electric Vehicle Market Size, Autonomous Electric Vehicle Market Trends, Autonomous Electric Vehicle Market Forecast, Autonomous Electric Vehicle Market Risks, Autonomous Electric Vehicle Market Report, Autonomous Electric Vehicle Market Share


    Self-driving cars work by combining a variety of sensors for the surrounding stimuli such as the lidar, radar, sonar, odometry as well as inertial measurement units. The advanced control systems incorporated in the vehicles interpret the information from sensors to navigate appropriately and identify obstacles. Automation is achieved on the basis of different levels of automation, as the levels of automation increase, the driverless extent of the vehicle increases in regards to operation and control. Most of these cars create a map of their surroundings in order to work efficiently.


    One of the major features of this technology is the adaptive cruise control (ACC) with the help of which, the system controls the vehicle’s speed to ensure a safe distance from obstacles and other vehicles. The function operates on the inputs from the different sensors incorporated in the vehicle. The signals are interpreted and processed through the DSP and AI core processors which provide the necessary responsive action.


    The six levels of automation are described below:


    • LEVEL 0 – here the car has no actual control mechanism over the operation and the driver does the driving.
    • LEVEL 1 – the vehicle incorporates an advanced driver assistance system (ADAS) with the features such as cruise control steering, accelerating as well as a braking system but only as a support to the driver.
    • LEVEL 2 – the ADAS system controls the steering, braking, and acceleration of the vehicle with little attention from the driver to perform the remaining tasks.
    • LEVEL 3 – the vehicles in the category incorporate an advanced driving system (ADS) which is capable of performing all the tasks of the driver in some specific conditions but the human driver should be attentive enough to regain control as and when requested by the system.
    • LEVEL 4 – in this level the ADS system is well versed to perform all the driving tasks to full capacity without the need of a human driver independently in some of the conditions.
    • LEVEL 5 – the level involves a fully automated driver system where the ADS performs all the tasks in every condition with no assistance required from a human driver. This level is achieved by the integration of 5G technology with the help of which the vehicle system interacts with traffic lights, obstacles on the road as well as other vehicles.




    The global autonomous electric vehicle market is segmented based on different categories and levels of automation which are given below:


    Autonomous Electric Vehicle Market Based On The Type Of Electric Vehicle

    • Fully electric.
    • Hybrid


    Autonomous Electric Vehicle Market Based On The Levels Of Automation

    • Level 0
    • Level 1
    • Level 2
    • Level 3
    • Level 4
    • Level 5


    Autonomous Electric Vehicle Market Based On The Region

    • US
    • Europe
    • Japan
    • China
    • ROW





    SI No Timeline Company Developments
    1 March 2021 General Motors The Origin, a driverless shuttle developed by Cruise, a majority-owned autonomous vehicle division of General Motors, is expected to go into production in early 2023.
    2 March 2022 BMW The automaker is collaborating with tech companies Qualcomm and Arriver. The goal is to expand Level 3 self-driving capability from the iX and upcoming 7-series to more of the BMW lineup.
    4 February 2022 VW Group Bosch and VW agree on an alliance to develop a standardized software platform for mass production of vehicles up to SAE Level 3 with plans to explore targets for Level 4 systems.


    The market for autonomous electric vehicles globally is estimated to grow at a CAGR of XX% to be worth $XX billion by the year 2026. The growth is mainly due to the companies that have started to resume their operations after relaxation from the pandemic.


    The rising development of smart city initiatives across the world has been driving the automotive market. Electric autonomous vehicles facilitate the reduction of pollution and greenhouse emissions in smart cities and help reduce global warming. By using autonomous technology, traffic accidents can be reduced by a whopping 90% which significantly increases the safety of the roads.


    Some countries in the North American region are now developing digital infrastructure in order to promote communication between connected vehicles to reduce traffic and improve safety on roads. The AI core processor companies are developing at a fast pace to incorporate the demands of the people and resolute safety concerns over autonomous technology.


    Self-driving and all-electric vehicles have the potential to improve the world. However, not all AVs are made equal when it comes to the vehicles and gear you might encounter on public roads.


    The internal combustion engine-powered personal automobile ushered in a decades-long age of personal liberty and societal prosperity. However, with that independence came a slew of problems, including pollution, traffic, and accidents.


    Compared to their gasoline- or hybrid-powered predecessors, all-electric autonomous vehicles have a number of advantages. All-electric shared driverless vehicles will be perfect for busy cities with traffic and noise pollution problems.


    An autonomous vehicle’s powerful sensor and computing systems requires a lot of electric power. An all-electric battery pack, as opposed to an internal combustion engine, provides a more steady power supply, allowing for higher-powered audiovisual components.


    Electric propulsion systems have a reduced delay and more consistent reaction when accelerating due to their architecture. As a result, an all-electric AV will have a shorter latency between the moment it decides to execute a manoeuvre and the time it completes it as compared to its internal combustion equivalents.




    Safety concerns over this technology and cybersecurity are the leading factors that plunge the growth of autonomous vehicles. Hackers can break the firewalls put up by companies and steal data by exposing the routes of the self-driven vehicles which are a major threat to the safety of passengers.


    For instance, in the year 2018, Arizona reported the first case of killing a pedestrian by an autonomous car due to a cybersecurity hack. In July 2020, some of the cybersecurity research associates hacked into the electric drive system of a Jeep Cherokee, they accessed the infotainment system of the vehicle by wireless control giving them power over the steering, transmission, and brakings commands over the ADS system.

    Infographic: Global Autonomous Electric Vehicle Market, Global Autonomous Electric Vehicle Market Size, Global Autonomous Electric Vehicle Market Trends,  Global Autonomous Electric Vehicle Market Forecast,  Global Autonomous Electric Vehicle Market Risks, Global Autonomous Electric Vehicle Market Report, Global Autonomous Electric Vehicle Market Share

    Leading developers for AI systems incorporated in vehicles are now focusing on strengthening security concerns and minimizing cybersecurity hacks in order to facilitate the growth of this market.


    Another factor affecting the growth of this market is the infrastructural unavailability of 5G networks which makes connected car technology obsolete as then autonomous vehicles are unable to communicate with each other and form a 3D navigation map of the surroundings. There are several factors that hinder the growth of this market and create distrust among customers. For instance, recently the Toyota self-driving shuttle service was suspended to be used in the Tokyo 2020 Paralympic Games as the vehicle e-Palette struck a visually impaired pedestrian.


    The autonomous industry is set to receive massive grants and initiatives to emerge in the defense segment due to the rising demand for such vehicles. For instance, in April of 2019, the United States Army announced plans to deploy combat trucks with autonomous technology to minimize casualties and accidents.




    The global automotive market for the automotive sector was affected significantly by the economic impacts of the COVID-19 pandemic. The first half of the year 2020 witnessed a drop in new car registrations for EVs which was about a third from the same half of the previous year due to the restrictions put in place and lockdowns across the world. The production and manufacturing units of OEMs were at a halt until the relaxation in COVID protocols which affected the business gravely.


    However, the decrease was offset partially by the strong activity in the second half of the year 2020 which recovered the market and resulted in a low drop of 16% year-on-year overall basis. With the new car sales of conventional vehicles dropping, the global electric car sales rose to 4.6% after the pandemic.


    The autonomous vehicle sector has also suffered a hit due to the halt in the manufacturing units and research centers across the globe. With the companies struggling to meet the ends, the investments in this sector have decreased from the previously estimated value making it difficult for the sector to prosper. However, with the recovering market and increasing demand for new technologies OEMs are presented with incentives to produce more.


    Several factors have contributed to the increase in registrations and recovery of the market in spite of the COVID-19 repercussions in the year 2020. Electric autonomous vehicles have gradually become more competitive in some of the countries as per the total cost of ownership. Governments across the globe have provided incentives that have buffered the purchases in the electric vehicle market.



    • In August 2021, the technology company Arrival announced plans to co-develop a cloud-based data platform in collaboration with Microsoft to enable telemetry, vehicle, and data management for future electric and autonomous vehicles.
    • In August 2021, Tesla started to incorporate the new Autopark feature in its new Tesla Vision Computer vision system which will now include autopilot and its fully self-driving Beta feature.
    • In August 2021, Lincoln announced plans to introduce the new 2022 Navigator, the company’s first vehicle to offer a hands-free active glide feature.
    • In August 2021, Yara International in a partnership with the technology company Kongsberg in Norway developed a battery-electric container ship and has announced plans to make the ship fully autonomous with automatic loading and unloading.
    • In August 2021, Audi unveiled its latest autonomous electric grand tourer named Skysphere. The vehicle can be operated autonomously but also allows the driver to regain control. The company also announced the development of similar models the Grandsphere and Urbansphere.
    • In August 2021, Xpeng’s P5 costing between $24,700-$35,00 all-electric sedan displayed the vehicle’s City level navigation guided pilot incorporating the LIDAR technology for the first time in its advanced ADS system.
    • In August 2021, Audi announced the development of an ecosystem for electric and autonomous vehicles with the incorporation of the software unit CARIAD. The operating system will be developed for the entire Volkswagen Group with features for autonomous driving.
    • In August 2021, Jeep launched the first look of its two-row Grand Cherokee 4xe with plans of pairing the vehicle with a drone and autonomous off-roading features. The vehicle will be capable of biometric recognition to identify the owner and unlock the door automatically and start the car along with peer-to-peer charging by the year 2025.
    • In August 2021, Huawei and GAC announced a partnership to develop a medium to large size SUV with level 4 autonomous driving control. The vehicle will be produced by the end of 2023
    • In May 2021, Autocrypt, a company based in Seoul in collaboration with the University of Windsor’s SHIELD automotive cybersecurity center of excellence announced an agreement to facilitate the security of connected and autonomous vehicles in Canada.
    • In April 2021, Crowley Engineering Services announced the design completion of the country’s first fully-electric tugboat incorporated with autonomous technology. It will be equipped with two 1.8 MW electric motors and a 6 MWh battery pack.
    • In April 2021, Ford Motor announced the company’s level 2 ADAS system BlueCruise which will be available in the 2021 F-150 as well as the 2021 Mustang Mach-E.
    • In April 2021, General Motors announced the development of the Cadillac LYRIQ, which will incorporate the Super Cruise technology along with one-pedal drive, next-generation variable Regen on-demand technology, and will be incorporated with the Ultium Platform.
    • In April 2021, General Motors announced the launch of an in-vehicle app-based navigation software named Maps+ which will be incorporated in selected vehicles of Chevrolet, GMC, Buick, and Cadillac by the end of 2021.
    • In March 2021, Motional in partnership with Lyft launched the Hyundai Ioniq 5 as the vehicle to be used for the robotaxi ride-sharing business which is equipped with the level 4 automation system.
    • In February 2021, Volkswagen Commercial vehicles announced the development of its all-electric ID BUZZ vehicle which will be the very first self-driving model from the group. The vehicle is set to begin production by the year 2022. The vehicle is developed primarily for ride-sharing services as a robotaxi.
    • In February 2021, New Flyer announced the unveiling of its first automated bus named Xcelsior AV which is developed in partnership with Robotic Research based in Maryland. The heavy-duty bus incorporates a level 4 automation system.
    • In January 2021, SAIC motor, a Chinese automaker in partnership with Shanghai Pudong New Area as well as the Alibaba Group unveiled its first high-end BEV sedan under the IM brand. The vehicle will be equipped with high-energy batteries from CATL and NVIDIA’s Drive technology for autonomous driving.
    • In January 2021, NIO unveiled the company’s fourth electric car named NIO ET7 which will incorporate a highly advanced autonomous driving technology as well as Adam which is the company’s proprietary supercomputing system.
    • In December 2019, Baidu, an internet service provider, announced that the company has secured 40 project licenses to test autonomous vehicles with the company’s software.
    • The automotive supplier Veoneer has partnered with Flir Systems to develop a thermal sensor-equipped autonomous vehicle with level 4 autonomous technology.



    Optimus Ride announces a partnership with Polaris to bring fully autonomous GEM vehicles to market. Polaris GEM electric low-speed vehicles will be manufactured to integrate the Optimus Ride’s autonomous software & hardware suite directly from the factory for positioning on streets in residential communities and other localized environments.




    SI No Timeline Company Developments
    1 April 2021 Toyota Lyft’s autonomous vehicle division is being acquired by Toyota for $550 million.

    Toyota has also agreed to use Lyft’s infrastructure and fleet data under commercial terms.


    2 March 2022 General Motors General Motors has announced that it will pay $2.1 billion for the SoftBank Vision Fund’s interest in its Cruise self-driving car firm.
    4 March 2022 BMW Qualcomm, BMW, and Arriver have teamed up to develop self-driving car technology. The three companies have agreed to collaborate on the development of a scalable automated driving platform.


    Tesla has announced the development of its dependable fully self-driving (FDS) system with version 9 to be launched soon in the future models of the company. The company also recently discarded the use of radar sensors in order to incorporate the fully camera-based system known as Tesla Vision. The company has surpassed $1 billion in its quarterly profit for the April-June quarter of 2021 for the first time setting a milestone. Its revenue nearly doubled to about $12 billion from the last year earning $1.02 per share. It now boasts a market value of approximately $630 billion which is greater than any automaker. Its Model Y LR has been sold out for new car registrations for the third quarter of 2021.


    General Motors announced the opening of the company’s China Advanced Design Center after the completion of a major investment up-gradation which will allow the plant to double the design capacity. The facility will be used to develop the company’s all-new electric as well as autonomous vehicles in China. The company also announced a partnership with AT&T to introduce 5G cellular connectivity for vehicles produced by the company; it will be available in vehicles starting from 2024. The company recently released the financial results for the second quarter of the year 2021 with revenue worth $34.2 billion with an adjusted EBIT of $4.1 billion, the quarter saw an increase from the same quarter of 2020 which reported revenue worth 416.8 billion.


    General Motors has introduced its new Super Cruise autonomous technology features for some of the models such as the Cadillac Escalade, Cadillac CT4, Cadillac CT5, Chevrolet Silverado, GMC Sierra, and others which will be available by the year 2022. The new features include trailering, automatic lane change, and enhanced navigation display. The company has plans to invest almost $71 million to establish a new advanced center for design operations in California. The company announced that it will increase the investments in the development of electric and autonomous vehicles by the year 2025 with $35 billion which represents an almost 75% increase from the initial investments.


    The Volkswagen Group recently announced the financial results for the first half of the year 2021 with sales revenue worth EUR 40.7 billion which was a whopping 42.4% increase from the same quarter of the previous year with revenue worth EUR 28.6 billion. The operating profit of the company was recorded as EUR 1.8 billion. The group’s subsidiary Porsche Engineering is using game engines to develop intelligent vehicle systems. The games engine generates photorealistic images to help develop automated driving features. Porsche and Rimac have also come into a joint venture to incorporate Bugatti. The Volkswagen group reported deliveries of more than 342,000 BEV as well as PHEV slit 50/50 in the second quarter of 2021. The figures have increased at a tremendous rate of over 260% for BEVs and 227% for PHEVs. They have sold the maximum number of cars in Europe acquiring 26% of the market share followed by the US and China for the year 2021.


    The autonomous driving company Cruise which is a start-up by General Motors announced that several investors, as well as Walmart, have joined its previously announced investment round raising the capital to $2.75 billion. The company is also set to be the exclusive partner provider of self-driving ride-hailing services in Dubai. The company has also acquired the company Voyage to advance the company’s self-driving services with the world’s most advanced self-driving technology.


    Daimler AG has partnered with Waymo to develop autonomous SAE level 4 trucks which will incorporate Waymo’s leading automated driving technology in the company’s Freightliner Cascadia class 8 truck.


    Apple has announced plans to sign a deal with the joint automotive venture of LG and Magna named the LG Magna e-Powertrain. The venture will produce the initial rounds of the Apple Car production which will be introduced by the year 2025


    The Volvo Group has announced a partnership with the self-driving startup Aurora with plans to jointly develop class 8 autonomous trucks for the North American market.


    The BMW Group has reported more than doubled the sales volume to 83,000 in the second quarter of 2021 and 153,000 in the first quarter of 2021. The share of plug-in EVs has increased by a whopping 11.85% of the total BMW volume. With 36,089 BEVs and 117,178 PHEVs sold in the first half of the year 2021, the sales for the group have been up by 183.9% and 139.4% respectively during this year.


    The autonomous vehicle manufacturing company Motional announced a joint agreement with Lyft to introduce the world’s biggest fleet of robotaxi ride sharing networks to be launched by the year 2023. The plans are to incorporate Hyundai Ioniq 5 as the vehicle for the service in some selected cities in the US. The automaker Motional was established in the year 2019 which was a result of the joint venture between Aptiv and Hyundai worth $4 billion.


    Toyota Motor group’s subsidiary Woven Planet has announced the completion of the acquisition of the level 5 self-driving division of rideshare company Lyft incorporation. The company has also announced a partnership with Apex.AI, a software systems development company to help in the development and deployment of a production-ready autonomy stack, Woven Planet will use Apex.OS for Arene.


    The company Gatik which is a specialized B2B short-hauling trucking company has announced plans to introduce autonomous electric trucks in its delivery fleet. The company’s partner in the project is Walmart which has its own set of electrification and autonomous projects. Walmart has pre-ordered Tesla Semi as well as Cruise to incorporate autonomous delivery for its customers. Gatik has also partnered with Loblaw to deploy Canada’s first autonomous delivery fleet.


    Ford Motors announced the increase in investments for the electric and autonomous vehicle manufacturing department which will be worth $29 billion by the year 2025. The bifurcation will be at least $22 billion for electric vehicles and $7 billion for autonomous vehicles.


    Embark Trucks Incorporation has announced plans to revolutionaries the automotive trucking industry by introducing an autonomous driving software platform that can be incorporated into any type of vehicle be it electric, hybrid, or conventional ICE. The company’s model will be financed from the recent merger with SPAC to enhance driverless transport.


    The company Foretellix has recently closed the series B funding round with investments worth $32 million for the development of testing, verification, and validation platform for automated driving systems raising the total investment to $50 million, the round was led by MoreTech Ventures.





    1. Autonomous Electric Vehicle Market size and Forecast, by region, by application
    2. Average B-2-B price for Autonomous Electric Vehicle Market, by region, per user
    3. Technology trends and related opportunity for new Autonomous Electric Vehicle Market tech suppliers
    4. Autonomous Electric Vehicle Market share of leading vendors, by region,
    5.  Coronavirus impact on Autonomous Electric Vehicle Market earnings
    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix


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