51 Automotive Industry Statistics Highlighting Latest Trends in 2024
51 Automotive Industry Statistics Highlighting Latest Trends in 2024
The automotive sector continues to undergo massive technology-led disruption. This article compiles 51 insightful statistics that showcase emerging structural shifts redefining mobility along with software enabling new capabilities and experiences.
1-25: Connected and Autonomous Innovations
- 90% of new vehicles will ship connectivity platforms by 2027 facilitating data services and OTA updates (Fortune)
- The global connected car market crosses $191 billion by 2025, growing at CAGR of 18% (ResearchAndMarkets)
- Self-driving cars reduce accident rates by 90% versus regular driving per simulation data from Waymo and Nvidia (Forbes)
- By 2040, 25% of vehicles sold globally feature autonomous capabilities leveraging AI, ML, sensors (BloombergNEF)
- 33 million self-driving cars ship annually representing 26% penetration in the US and almost 57% in China by 2040 (WoodMackenzie)
- Over two thirds of consumers planning a car purchase by 2025 desire some level of autonomy – 16% seek full self driving (Capgemini)
- Autonomous ride hailing revenue expands at a 60% CAGR from $5 billion in 2024 to $70 billion by 2030 (Tractica)
- Robotaxis complete 10% of passenger miles in the US by 2030 before reaching over 62% penetration by 2050 (Ark Invest)
- By 2040, transportation-as-a-service business models emerge capturing 60% market share dwarfing private vehicle ownership (KPMG)
- Over $7 trillion gets invested over the next decade in autonomous mobility including infrastructure and technology (AlixPartners)
- The self-driving car software market grows from $1.4 billion in 2019 to $15.9 billion by 2030, rising over 10x in a decade (Tractica)
- Autonomous last mile delivery emerges as a $20 billion US market by next decade boosted by optimized logistics (ABI Research)
- Over half of surveyed urban consumers prefer hailing robotaxis versus owning a self-driving car by 2035 showcasing new mobility shift (IBM)
- Autonomous trucking generates over $600 billion in savings through higher asset utilization and accident reduction by 2050 (McKinsey)
- Government spending on smart city mobility infrastructure rises by 124% over this decade to enable connected and self-driving adoption at scale (Frost & Sullivan)
- The autonomous forklift market expands globally from $6 billion in 2022 to over $11 billion by 2030 replacing manual alternatives (Mordor Intelligence)
- Driverless tractors reach sales of 540,000 units annually worldwide by 2030 gaining traction for precision in repetitive farming activities (MarketsandMarkets)
- Consumer autonomous vehicle data rights emerge as a priority policy issue this decade as GDPR-like standards get explored globally (Brookings)
- Over 50% of legacy automakers will completely overhaul technology stacks switching operating systems to enable self-driving – spends cross $15 billion (IBM)
- Autonomous vehicle cyberattacks become prime threats with a hacker successfully demonstrating remote takeover of Tesla Model X through exposed APIs (CSOOnline)
- China leads self-driving infrastructure build-out installing 1.2 million road-side control units for navigation, tracking and coordination by 2025 (Yole Development)
- Lidar costs drop by almost 90% over the last five years to around $500 per sensor in 2023 enabling affordability at scale this decade (BCC Research)
- High definition 3D maps form crucial infrastructure for autonomous vehicles – market sizes to $10 billion by 2030 (Lux Research)
- Over 75% of consumers voice preference for self-driving cars making moral decisions aligned with regulations versus individual vehicle owners per MIT surveys (MIT)
- 90% of self-driving companies consider sensor and system safety failure scenarios as top priorities during development cycles (Forbes)
26-51: Electric and Industry Shifts Reshaping Sector
- EV sales grow at 29% year-over-year globally to reach 28 million by 2030 before hitting 54 million annually by 2040 (IEA)
- By 2035, 58% of new US car sales comprise electric vehicles as higher model availability and lower costs accelerate adoption (BloombergNEF)
- Almost 30 million charging stations get installed globally by 2030 to support surging electric vehicle fleets on roads (IEA)
- Hydrogen fuel cell vehicles emerge as viable zero emission options with 3.9 million units sold globally in 2030 (Information Trends)
- Software accounts for 35% of vehicle manufacturing costs by 2030 – over 4x rise versus current 8% as connectivity, autonomy advance (McKinsey)
- Auto semiconductor demand grows at a brisk 14% CAGR this decade fueling rising electronics and sensor needs (Deloitte)
- Global auto parts eCommerce expands at 18% CAGR through 2027 nearing $200 billion in aftermarket and accessories sales online (Fortune Business Insights)
- Augmented reality in automotive reaches $14 billion in global revenue by 2030 boosted by sales growth in head-up displays (P&S Market Research)
- Additive manufacturing in auto saves over $70 billion in warranty and material costs over next 15 years through part production innovations (Huron)
- Blockchain in the automotive market reaches over $5.6 billion by 2030 tokenized transactions, supply chains gain wider adoption (MarketsandMarkets)
- Automotive OTA updates become a $6.5 billion market globally by 2025 as software enhancements continuously roll out (MarketsandMarkets)
- Over 75 million older vehicles on US roads today still lack basic ADAS – showcasing need for cost-effective retrofits at scale (S&P Global)
- Automotive voice assistants gain spotlight through 2025 as over 50% of new cars integrate capabilities responding to verbal prompts (ReportLinker)
- Rising popularity of vehicle subscription services upends traditional sales models – 10-15% new car usership shifts by end of decade (Guidehouse Insights)
- Over 70 electrified models launch across GM’s portfolio by 2025 as part of its $35 billion electric vehicle investment (GM)
- Volkswagen Group invests $86 billion over the next 5 years in EV and hybrid production capacity and new mobility capabilities (Volkswagen)
- China leads EV market expansion crossing 25 million NEV sales by 2025 before hitting 65 million annual sales by 2040 (CICC)
- 36% of Japanese consumers planning a car purchase by 2025 express interest in hybrid electric cars reflecting strengthening demand (Capgemini)
- India mandates fleet emission standards driving electrification – OEMs must sell 40% electric cars by 2030 (Niti Aayog)
- Over half a billion EVs traverse roads globally by 2040 rising from 16 million in circulation today (BloombergNEF)
- Autonomous vehicles prompt over $60 billion investments in smart highway infrastructure through 2025 to enable seamless driving (Frost & Sullivan)
- Over 50% of car buyers desire trying subscription models to test EVs reflecting openness to new ownership approaches (IBM)
- Daily commute distances for US self-driving ride hails average at 40 miles per trip based on current human driver data benchmarks (Berkeley)
- Robotaxi fares reduce to just $0.35 per passenger mile on average by 2030 through higher utilization driving down costs (Ark Invest)
- Autonomous long haul trucking powered by hydrogen cells emerges as a scalable, eco-friendly mass cargo solution this decade (Department of Energy)
- Congestion costs saved through mobility as a service adoption cross $100 billion in US and Europe combined over next 15 years (INRIX)
Recommended Automotive IoT & Mobility SaaS Platforms
Otonomo for data commercialization: Securely aggregates in-car data reselling insights to third parties under consent.
Conduent for digital fleet management: Next-gen platform modernizing management, fuel cards to maintenance via analytics.
Sibros for OTA upgrades: Robust software management system enabling continuous remote vehicle upgrades.
Waycare for mobility analytics: AI-powered smart mobility platform easing congestion and safety via traffic optimization.
Key Takeaways
The automotive sector undergoes mega shifts towards connected, autonomous, electrified, and shared mobility buoyed by immense technology innovation and investments. Industry leaders proactively embrace these emerging structural tailwinds through new divisions and ecosystems to avoid getting disrupted by lean digital players.
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