alwepo, Future Automotive Technologies 2024-2034 – The automotive landscape is undergoing a seismic shift with autonomous driving technologies, electrification, connectivity, and in-cabin monitoring emerging as megatrends reshaping the industry. The upcoming decade, from 2024 to 2034, promises a dynamic evolution in automotive technologies, creating new applications, revenue streams, and transformative opportunities. In the comprehensive report titled “Future Automotive Technologies 2024-2034: Applications, Megatrends, Forecasts,” IDTechEx delves into the intricacies of these trends, unraveling their potential impact on the automotive industry.
Autonomous Driving: A Roadmap to Evolution
Autonomous driving stands as a pivotal megatrend, presenting two major opportunities within its realm. The first involves the burgeoning market for automotive perception sensors, including cameras and radars for Advanced Driver Assistance Systems (ADAS). With the increasing prevalence of SAE Level 2 technologies in new car sales, the hardware market is experiencing growth. However, the emergence of SAE Level 3 technologies is set to catalyze a predicted 10-year Compound Annual Growth Rate (CAGR) of 13.6%. The forecast examines the spread of Level 3 technologies across the market and their impact on demand for sensors.
Beyond hardware, autonomous driving foresees a transformative shift with the rise of robotaxis. These autonomous vehicles, laden with high-value sensors, promise to generate revenue not just through hardware but by providing a cost-effective and safe form of mobility. The report analyzes the current performance and deployment of robotaxis, forecasting their city-wise expansion and progression towards becoming a mainstream alternative to car ownership.
Electrification: Charging into the Mainstream
Electric cars have made a significant leap from early adopter technology to mainstream acceptance. With the looming pressure to decarbonize the automotive industry and the impending bans on Internal Combustion Engines (ICE), electric vehicles are poised for dominance. The opportunity lies not just in electric vehicles themselves but in the components they require, such as large lithium-ion batteries, powerful traction motors, and power electronics. This segment, valued at over US$100 million in 2023, is expected to play a substantial role in the projected US$1.6 trillion future automotive technologies market.
Connected and Software-Defined Vehicles: Navigating New Revenue Streams
Connectivity in vehicles is evolving beyond transmitting information to Original Equipment Manufacturers (OEMs). A paradigm shift is underway, leveraging vehicle connectivity and luxury features to create novel revenue streams. Optional features, once offered as one-time purchases, are transitioning to subscription models, ensuring customers pay for specific features only when needed. Advanced driving systems, defined more by software than hardware, are becoming pivotal in this shift. The report provides insights into applications enabled by connectivity, the potential of software-defined vehicles, enabling technologies, and revenue projections from services by 2034.
In-Cabin Sensing: Steering towards Enhanced Safety
As driving technology evolves, so does the need for sophisticated in-cabin sensing systems. From early lane-keeping systems to advanced driver monitoring, the report explores emerging technologies designed to track driver attentiveness and enhance safety, even protecting against the risk of leaving children or pets behind. The analysis weighs the pros and cons of each system, offering market prospects for these technologies.
A Glimpse into the Future
The report unravels the transformative megatrends shaping the automotive industry, providing a roadmap for the next decade. It outlines the current state of deployment, growth drivers, enabling technologies, potential opportunities, and market forecasts. With a predicted CAGR of 21.1% from 2024 to 2034, the future of automotive technologies holds the promise of a market exceeding US$1.6 trillion, steering the industry towards an unprecedented era of innovation and evolution.
Key Insights:
- CAGR: Future automotive technologies forecasted with a CAGR of 21.1% from 2024-2034, reaching a market size exceeding US$1.6 trillion.
- Forecast Period: 2024 – 2034
- Forecast Metrics: Unit sales, revenue (US$)
- Regions Covered: North America (USA + Canada), Europe, Japan, China, Worldwide
- Segments Covered: Autonomous vehicles (SAE levels 0-4 and robotaxis), Electric car powertrain (BEV, HEV, PHEV, & FCEV), Connected & software-defined vehicles (SDV levels 0 to 5), In-cabin sensing using TOF cameras, infra-red cameras, radar, steering wheel torque sensors, and steering wheel capacitive touch sensors.
Source: idtechex
