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Semi-Autonomous Vehicle Market: Segmented By Level of Automation (Level 1, Level 2, Level 3), By Vehicle Type (Passenger Car, Commercial Vehicle and Others), And Region - Global Analysis Of Market Size, Share & Trends For 2019-2020 And Forecasts To 2031
[ 170 + Pages Research Report ] Semi-Autonomous Vehicle Market to surpass USD 24.12 billion by 2031 from USD 18.79 billion in 2021 at a CAGR of 2.57% in the coming years, i.e., 2021-31.
Semi-Autonomous Vehicle Market are vehicles that are skilled by detecting the environment and navigating. In semi-autonomous cars, the accountability of driving is displaced to the driver, and the technology is used in the vehicles for driver-air and safety components. Recognized vehicle-makers such as Nissan, Tesla, Mercedes-Benz, and Volvo have been strongly focusing on developing semi-autonomous cars in recent year.
Global Semi-Autonomous Vehicle market is expected to project a notable CAGR of 2.57% in 2031.
The swift growth can be attributed to the increasing implementation of driver-assisted technologies, thereby improving the driving experience. The confluence of skills such as electronic braking, adaptive cruise control, and obstacle detection; and continuous technological inventions happening in driving technologies provide an impetus to market growth.
Passenger Car segment to grow with the highest CAGR during 2021-31
Global Semi-Autonomous Vehicle market is classified on the basis of Vehicle Type into Passenger Car, Commercial Vehicle and Others. Passenger Car segment dominates the market share globally. The presence of a large number of passenger cars the increasing need to improve the driving experience promotes the implementation of semi-automated vehicles. Semi-autonomous technology enables drivers to navigate through traffic and maneuver sharp turns more effectively and safely, thereby ensuring lesser stress on the driver.
Level 1 segment to grow with the highest CAGR during 2021-31
Global Semi-Autonomous Vehicle market is classified on the basis of Level of Automation into Level 1, Level 2, Level 3. Level 1 Type segment dominates the market share globally. This can be accredited to the increasing demand for automobile customers to engage in assisted driving technologies. Level 1 automation in cars helps in increasing vehicle efficiency by providing an optimum level of manual control and easy flexibility
High growth in connected vehicle technology
High growth in connected vehicle technology and active mobility application boosts the market growth. Moreover, the rise in need for safe, secure and efficient driving option and integrity of technology are also highly affecting the growth of the semi-autonomous and autonomous vehicle market. Additionally, the fast advances in several in-vehicle technologies and sensors are another driver expected to boost the semi-autonomous and autonomous vehicle market growth.
Artificial Intelligence (AI) offers promising growth
Artificial Intelligence (AI) provide promising growth creations to the semi-autonomous cars market owing to its usage in several application cases within automotive. The adoption of AI-models helps in pattern and obstacle recognition, which aid to understand verbal sounds, non-verbal cues, and gestures. There has been a growing trend in the adoption of AI for steering mechanism which simplifies driving effort, improves engine performance, and increase fuel efficiency.
Strict regulations
The market of semi-autonomous vehicle though has certain challenges which are anticipated to limit the potential growth of the market such as the growth in cyber security and safety concerns and non-availability of required infrastructure in developing nations, whereas the crowd navigation and undefined legal responsibility can restraint the growth of the semi-autonomous and autonomous vehicle market in the forecast years.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Semi-Autonomous Vehicle market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific dominates the Semi-Autonomous Vehicle market. The maximum growth rate can be attributed due to a strong AI hub in China, Japan, Singapore, and India, allowing automotive companies to gain easy access to automotive-specific AI programs and solutions.
Global Semi-Autonomous Vehicle is further segmented by region into:
Semi-Autonomous Vehicle Segments:
| Report Attribute | Details |
| Market size value in 2021 | USD 14.58 billion |
| Revenue forecast in 2031 | USD 18.79 billion |
| Growth Rate | CAGR of 2.57% from 2021 to 2031 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2030 |
| Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered |
Type, Application and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | ZF Friedrichshafen AG, Volkswagen AG, Daimler AG, Texas Instruments Incorporated, DENSO CORPORATION, BYD Company Ltd., Robert Bosch GmbH, AB Volvo, Nissan, BorgWarner Inc., Visteon Corporation, Continental AG, NXP Semiconductors, BMW AG, Magna International Inc., Infineon Technologies AG, Renesas Electronics Corporation, Intel Corporation and Other Prominent Players |
The Semi-Autonomous Vehicle Market size was estimated at USD 24.12 billion in 2020 and is expected to reach 2.57% billion by 2030.
Key players: ZF Friedrichshafen AG, Volkswagen AG, Daimler AG, Texas Instruments Incorporated, DENSO CORPORATION, BYD Company Ltd., Robert Bosch GmbH, AB Volvo, Nissan, BorgWarner Inc., Visteon Corporation, Continental AG, NXP Semiconductors, BMW AG, Magna International Inc., Infineon Technologies AG, Renesas Electronics Corporation, Intel Corporation and Other Prominent Players
Passenger Car segment are anticipated to hold the largest Semi-Autonomous Vehicle Market?
Drivers: High growth in connected vehicle technology and Artificial Intelligence (AI) offers promising growth
Semi-Autonomous Vehicle Market are vehicles that are skilled by detecting the environment and navigating. In semi-autonomous cars, the accountability of driving is displaced to the driver, and the technology is used in the vehicles for driver-air and safety components. Recognized vehicle-makers such as Nissan, Tesla, Mercedes-Benz, and Volvo have been strongly focusing on developing semi-autonomous cars in recent years.
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