Massive Growth in North American Autonomous Car Market Research Report by Forecast 2030

Rapid technological advancements have led to the widespread adoption of connected cars in North America. Unlike conventional passenger cars, new-age connected cars offer smartphone connectivity within the vehicle and with the world outside, traffic and collision warnings, roadside assistance, and real-time traffic monitoring. Moreover, it is easier to integrate the autonomous driving technology in connected cars as compared to conventional cars, as the former are already equipped with vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connectivity, which is quintessential for driving autonomy.

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Thus, the burgeoning digitization rate in mobility solutions is stimulating research and development (R&D) on self-driving technologies in the region. This is expected to propel the North American autonomous car market for fully autonomous cars at a CAGR of 17.1% during 2023–2030. According to P&S Intelligence, the market is expected to reach $52.3 billion by 2030. Additionally, federal and state governments are supporting the development of autonomous cars, with 15 states of the U.S. already having enacted 18 related bills in 2018.

North American Autonomous Car Market

Furthermore, companies operating in the North American autonomous car market are entering into mergers, partnerships, and collaborations to minimize the financial risks involved in designing, testing, and manufacturing them and acquire the autonomous vehicle technology. For instance, General Motors Company has acquired Cruise Automation, a self-driving start-up, for $1 billion, to expand its technological base. Moreover, in 2018, Ford Motor Company and Walmart Inc. partnered to explore the potential of using self-driving cars for grocery and other consumer products’ delivery.

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Thus, the development of new technologies and growing focus of governments on the incorporation of autonomous driving features in mobility solutions will boost the demand for autonomous cars in the coming years.