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Self-Driving Car Market to Hit $200B by 2030
28 Jul
Summary
- Autonomous car sales to reach 28% by 2030, up from 8% in 2024
- China's EV user base and tech deflation give early edge
- Silicon Valley, Germany's automakers aim to boost their positions
According to a recent report by Morgan Stanley analysts, the global market for self-driving vehicles is expected to hit $200 billion by the year 2030. The analysts, Adam Jonas and Tim Hsiao, predict that sales of autonomous cars with Level 2 and above autonomy will surge to 28% of total unit sales by 2030, up from just 8% in 2024.
However, the analysts also warn of China's current advantage in the autonomous driving space. They note that China's outsized electric vehicle (EV) user base and technology deflation have given the country an early edge in the race for self-driving dominance. Despite this, the analysts believe that Silicon Valley firms and Germany's "Big Three" automakers can leverage their advantages in AI computing power and data to boost their positions and challenge China's lead.
As the autonomous vehicle market continues to evolve, the competition between global tech and automotive giants is expected to intensify in the coming years. With the market poised for significant growth, the battle for supremacy in this rapidly transforming industry is sure to be a closely watched development.
