Top 18 Automotive Industry Innovations and Trends

3. The Surge in Autonomous Vehicles

A significant expansion of the autonomous vehicle (AV) industry is forecasted in the coming years. Currently, there are only 1,400 self-driving cars in the United States, however, this number is expected to rise to 33 million by 2040. It details the advancements in automation levels, from SAE Level 0 (no automation) to Level 5 (full automation), with a notable increase expected in vehicles meeting Level 1 standards, rising to 54.2 million by 2024. Major automakers like Tesla, Ford, GM, and Volvo are actively developing AV technologies, with Tesla launching a Full Self-Driving (FSD) subscription service and Waymo expanding operations in several U.S. cities. The trucking industry is forecasted to achieve Level 3 and 4 autonomous trucks. Technologies such as lidar will improve precision in detecting objects and mapping traffic situations, which is crucial for safe autonomous driving.