TechSci Research's report on "Autonomous Vehicle Testing Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027" predicts that the global autonomous vehicle testing market will experience a strong CAGR during the forecast period of 2023-2027. The growth of the autonomous vehicle testing market is being fueled by the significant growth in the automotive industry. Additionally, the sales of autonomous vehicles are rising rapidly due to an increase in consumer purchasing power, leading to a rise in demand for autonomous vehicle testing globally. Moreover, the demand for testing the automated components of vehicles has increased due to rising incidences of road accidents. For example, road traffic crashes cause approximately 1.3 million deaths annually and 20 to 50 million severe injuries, some of which result in permanent disabilities. Furthermore, the rising levels of carbon emissions from vehicles are a major environmental concern. As vehicles are the primary contributor to air pollution, they generate significant amounts of particulate matter, nitrogen oxide, and carbon monoxide. Vehicle testing is necessary to monitor carbon emissions, and a series of tests, such as acceleration simulation mode (ASM) test, on-board diagnostic (OBD) inspection, and testing excessive HC or CO levels, are conducted. Additionally, the emergence of numerous leading companies, particularly in emerging economies, is expected to propel market growth. Moreover, the increasing production of autonomous vehicles is anticipated to fuel the demand for autonomous vehicle testing, to ensure that the vehicle meets the regulatory standards associated with performance, technical safety, fuel efficiency, and more. Therefore, the global market for autonomous vehicle testing has significant potential and is expected to grow rapidly in the coming years.
The autonomous vehicle testing market globally is categorized into test type, vehicle type, vehicle autonomy, competitive landscape, and regional distribution. Test type is differentiated into software testing, simulation testing, driving testing, and others. Simulation testing is projected to have a significant market share during the forecast period, as autonomous vehicles require large-scale testing and assessments before deployment. Simulation testing enables engineers to anticipate validation through digital prototyping, providing greater advantages over physical testing, boosting the segment growth.
Vehicle type is divided into passenger car and commercial vehicle. The passenger car segment is expected to hold a significant market share due to the increasing purchasing power of consumers, encouraging buyers to opt for autonomous vehicles. Therefore, the demand for vehicle testing in autonomous passenger cars has increased over time.
The market is divided by vehicle autonomy into Level 1, Level 2, Level 3, and Level 4/5, with the Level 3 segment expected to hold the largest market share over the forecast period. Since Level 1 and Level 2 cars have very few automated components, they do not require frequent testing via certain assessments. Although Level 4/5 cars are highly autonomous and do not require human intervention, they are less available in the market compared to Level 3 autonomous cars. Thus, the emergence of automotive players launching Level 3 autonomous cars and their growing adoption is expected to boost the segment growth.
A list of major market players of the global autonomous vehicle testing market includes:
- Intertek Group plc
- AB Dynamics
- Google (Waymo)
- Tesla Inc
- Toyota Motor Corporation
“Europe is estimated to hold the largest market share during the forecast period. This can be attributed to the economic growth in the region, rising working population, and introduction of favorable government policies attracting several leading autonomous automotive players such as Tesla, AB Dynamics, and Google to establish their plants. The widespread availability of autonomous vehicles and the growing purchasing power of consumers are eventually increasing the demand for autonomous vehicle testing in the region. Furthermore, the rising demand for autonomous and luxury vehicles for enhanced convenience and connectivity is supporting the market growth. Besides, growing innovations in autonomous automotive testing and introduction of the best-in-class testing solutions such as cloud-based service in vehicle testing are contributing to the market growth. With cloud-based tools, testers can carry out mobile and web testing in different environments and machines without the need to set up any infrastructure, which makes automotive testing scalable and cost-efficient.” said Mr. Karan Chechi, Research Director, TechSci Research, a research based global management consulting firm.
“Autonomous Vehicle Testing Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2023-2027 Segmented By Test Type (Software Testing, Simulation Testing, Driving Testing, Others), By Vehicle Type (Passenger Car, Commercial Vehicle), By Vehicle Autonomy (Level 1, Level 2, Level 3, Level 4/5) and By Region” has evaluated the future growth potential of global autonomous vehicle testing market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global autonomous vehicle testing market.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "GLOBAL AUTONOMOUS VEHICLE TESTING MARKET"
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