Germany Autonomous Vehicles Market Business Revenue Forecast

An autonomous vehicle can drive itself from one point to another in an auto-pilot mode. The vehicles, which make use of different technologies, such as global positioning system and adaptive cruise control, and lasers and radar, are primarily of two type — fully autonomous and semi-autonomous.

Advancing at a 20.2% CAGR during 2023–2030, the German fully autonomous vehicles market is projected to reach $28.0 billion by 2030. The major influencers of the market are the growing need for a safe and efficient driving option and supportive government measures in popularizing them.

To produce autonomous vehicles, increasing collaborations and partnerships among manufacturers and software providers is the trend in the German autonomous vehicles market. Besides electric components, a vehicle requires software and other features to become self-driven.

This necessitates the need for collaboration among different manufacturers and service providers. Apart from designing and manufacturing, even the testing of such vehicles can be a costly affair, which is why companies enter into partnerships.

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For instance, KPIT Technologies Limited, TTTech Computertechnik AG, and BMW AG collaborated in 2018 to develop autonomous driving software.

Owing to supportive government policies, the German autonomous vehicles market is experiencing growth. This resulted in Germany being the first country in the world to allow the use of fully and highly autonomous driving systems.

The decisions taken by the German government, such as its 2016 announcement to develop autonomous driving infrastructure in the country, are giving impetus to manufacturers. Further, in June 2017, the German Road Traffic Act was amended, thereby enabling the driver to pass the car controls to the autonomous driving system.

The German autonomous vehicles market is segmented by application, vehicle autonomy, and vehicle type. Based on application, the market is categorized into logistics, personal cars, motor coaches, ride hailing services, transit buses, and others.

The highest revenue during the historical period (2014–2018) was generated by the personal car category. In the forecast period, the fastest growth is expected to be witnessed by the transit bus category.