Self-driving Cars And Trucks Market Size, Share & Trends Analysis Report By Application (Transportation, Defense), By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa), And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the self-driving cars and trucks market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for self-driving cars and trucks market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of self-driving cars and trucks market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Self-driving Cars And Trucks Market Categorization:

The self-driving cars and trucks market was categorized into two segments, namely application (Transportation, Defense) and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The self-driving cars and trucks market was segmented into application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The self-driving cars and trucks market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into nine countries, namely, the U.S.; Canada; Mexico; the UK.; Germany; China; India; Japan; Brazil.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Self-driving cars and trucks market companies & financials:

The self-driving cars and trucks market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Audi AG - Audi AG, a German automaker, was established in 1910 and is headquartered in Germany. The Volkswagen Group owns the company. The company is a luxury automobile manufacturer and owns various other automotive manufacturing companies such as Lamborghini and Ducati. It operates eleven production facilities globally and is one of the leading manufacturers of luxury automobiles. The company has developed numerous systems aimed at improving the driving experience, such as 4WD and DRL. Besides this, the company has also introduced a technology to produce synthetic diesel from water and carbon dioxide.

• BMW AG - BMW AG is based in Germany and manufactures automobiles, motorcycles, and engines. Founded in 1916, the company is headquartered in Munich, Bavaria. The company manufactures petrol, diesel, and electric cars and is one of the leading producers of luxury cars across the globe. Moreover, the company also offers financial services dealing with multi-brand financing, car leasing, and insurance activities. The company has produced liquid fuel vehicles, electric vehicles, and hybrid vehicles.

• Daimler AG (Mercedes Benz) - Daimler AG operates through five business segments that include Daimler Buses (3%), Daimler Trucks (23%), MercedesBenz Vans (7%), Mercedes-Benz Cars (55% of net sales), and Daimler Financial Services (12%). Mercedes-Benz is a division of the German automotive corporation, Daimler AG. The company is headquartered in Germany. Mercedes-Benz specializes in luxury vehicles and manufactures internal combustion engines, coaches, buses, and trucks. The company produced the first petrol-powered car and is known as Benz Patent Motorwagen.

• Ford Motor Company - Ford Motor Company is a global automaker company and is headquartered in the U.S. Its vehicle brands include Ford and Lincoln. In 2017, the company sold around 6,607,000 vehicles at wholesale globally. The company operates through four segments, namely Financial Services, Automotive, Central Treasury Operations, and Ford Smart Mobility LLC. The Financial Services segment deals with the leasing activities and financing of vehicles at Ford Credit. The automotive segment deals with the sale of accessories, service parts, and Ford & Lincoln vehicles globally.

• General Motors - Founded in 1908, General Motors is headquartered in Detroit, Michigan, the U.S. It focuses on the designing, manufacturing, marketing, and distribution of vehicles and vehicle parts. It manufactures a range of vehicles from mini-electric cars to heavy-duty full-sized trucks. The company has its operations in more than 30 countries with various brands operating under the company’s umbrella, including Chevrolet, GMC, Holden, Wuling, Alpheon, Jiefang, Opel, Cadillac, and Vauxhall. It operates via business segments GM North America, GM International Operations, GM South America, and GM Europe.

• Google LLC - Google LLC is an internet and computer software solution provider company. The multinational company specializes in Internet-related services and products. The company is a wholly-owned subsidiary of Alphabet, Inc. Google operates its business from 70 offices in over 40 countries (as of December 2015) across the globe. Currently, the company’s products include self-driving cars, Project Wing, Project Glass, and Project Loon. The company’s key business areas include artificial intelligence, computational neuroscience, health care, and biotechnology. Waymo LLC is a fully owned subsidiary of Google LLC that develops autonomous vehicle technology.

• Honda Motor Corporation - Honda Motor Corporation, based in Japan, is a manufacturer of automobiles and automotive equipment. The company was formed in 1948 and is headquartered in Minato, Japan. It is the largest producer of motorcycles and internal combustion engines. Besides automobiles, it also manufactures robots and is actively researching artificial intelligence fields. The company’s product portfolio includes automobiles, internal combustion engines, and power equipment such as generators, solar cells, and robots. Through its subsidiary, Honda Aircraft Company, it also develops and manufactures airplane engines.

• Nissan Motor Company - Nissan Motor Company, also known as Nissan, is a Japanese multinational automobile manufacturer founded in 1933. The company is headquartered in Yokohama, Japan. Nissan is a full-line vehicle manufacturer that sells over 60 models under brands including Nissan, Datsun, and Infiniti. The company designs, manufactures, and markets; all electric vehicles. Rapid R&D and investments are initiated by the company to integrate safety shield-inspired technologies in the vehicles. This technology enables a 360-degree view of the vehicle to monitor risks and safety, offer warnings, and define actions to tackle accidents.

• Tesla, Inc. - Tesla, Inc. is an American company operating in the automotive and energy storage sectors. The company specializes in electric vehicles and is developing semi- and fully autonomous vehicles. Tesla, Inc. also provides equipment for office and home battery charging and has installed high-powered superchargers across North America, Europe, and Asia. Though the company does not offer an autonomous automobile (as of now), it has developed a semi-autonomous model which is currently commercialized in the market. The company aims to offer affordable electric cars to consumers globally.

• Toyota Motor Corporation - Toyota Motor Corporation is an automobile manufacturer headquartered in Toyota, Aichi, Japan. The company is the largest manufacturer of automobiles by volume. Toyota Motor Corporation has been a leading manufacturer globally, specializing in lean manufacturing, and is one of the largest companies in the world by revenue. The company is the highest profit-making automobile manufacturer in the world. Toyota also operates a luxury car division Lexus.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Self-driving Cars And Trucks Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Self-driving Cars And Trucks Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.