The level 3 autonomous vehicle market is projected to grow from 291 thousand units in 2025 to 8.7 million units by 2035 at a CAGR of 40.5%. Level 3 autonomy is a crucial step toward true autonomous vehicles as it requires balancing regulatory norms and advanced sensing technologies for reliable advanced features. Industry experts say the sensing, computing, and software technologies available today can achieve autonomous driving.
However, regulatory approvals are a significant concern as they deal with liability ownership. This is where OEMs emphasize developing highly redundant autonomy technologies, thereby slowing the roadmap toward autonomous vehicles. Subsequently, continued efforts from OEMs and Tier I & tech companies are focused on improving sensing technologies and developing redundant E/E architectures, which can feasibly get regulatory approval for vehicle operation.
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Global Level 3 Autonomous Vehicle Market Ecosystem Analysis
The market ecosystem participants include OEMs, tier 1 suppliers, autonomous vehicle developers, software and system providers, chip makers, and sensor providers. A few major level 3 autonomous vehicle providers include Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), ZF Friedrichshafen AG (Germany), and Magna International Inc. (Canada).
Asia Pacific is projected to demonstrate the highest growth in the level 3 autonomous vehicles market during the forecast period.
Asia Pacific is set to register the highest growth rate in the overall level 3 autonomous vehicles market during the forecast period. This growth is expected to kickstart in the next 2-3 years as Chinese OEMs, such as Zeekr, Xpeng, and others, plan to launch level 3 autonomous vehicles. It should be noted that Chinese OEMs are focused on gaining mass volume in domestic and international markets. The Chinese OEMs plan to achieve this by making ADAS features a standard (primarily without any subscription package) offering in their models. These OEMs (particularly BYD) plan to deploy ADAS across the lineup irrespective of vehicle segment (premium, mid-segment, or economy). BYD primarily leads this trend by launching its God’s Eye self-driving system. Thus, as the level 3 autonomous vehicle reaches the final development stage, rapid growth can be expected in the country for these vehicles. Western OEMs are increasingly partnering with Chinese OEMs to develop next-gen technologies faster. In 2024, Volkswagen partnered with Xpeng to develop E/E architecture faster. Such partnerships can pave the way for Western OEMs to gain share in the Chinese market.
List of Top Level 3 Autonomous Vehicle Market Companies
The Level 3 Autonomous Vehicle Market is dominated by a few major players that have a wide regional presence. The major players in the Level 3 Autonomous Vehicle Market are
- Mercedes-Benz
- BMW
- Honda
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