The Semi-Autonomous Vehicle Market Size was valued at USD 3.83 million in 2023 and is expected to reach USD 90.57 million by 2031 and grow at a CAGR of 48.5% over the forecast period 2024-2031.
Semi-autonomous cars are well-known for their ability to operate for longer periods of time with little or no human involvement. They are also capable of reversing, stopping, and increasing or decreasing their speed. The Semi-autonomous vehicles can also sense the driving circumstances, automated parking system enables then to park them self, let the driver take control, control all of the safety-critical operations, and also provide enough transition time. It has been discovered that the working procedure of semi-autonomous vehicles always depends on the level of automation, as well as the technology of the vehicle. There has been a lot of interest in advanced driver assistance systems (ADAS) since they can assist the human driver in directing their vehicle's operation.
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New models of the Toyota Mirai and Lexus LS, both manufactured by Toyota Motor Corporation, now come equipped with semi-autonomous driving capabilities. In order to provide help to drivers, it is able to monitor traffic patterns and obtain over-the-air (OTA) updates through deep learning.
KEY DRIVERS:
Enhancing the vehicle's safety features
The rising need for more fuel-efficient vehicles is fueling the global market for semi-autonomous vehicles
Escalating the need for a safe and efficient mode of transportation
Increased use of modern technology in the automotive industry
RESTRAINTS:
Information technology may limit the growth of the semi-autonomous car sector
High cost of semi-automated automobiles
Semi-autonomous car sales could be hampered by poor communication infrastructure
OPPORTUNITIES:
There are additional potential opportunities in the global market for connected cars in the predicted term
Manufacturers have greater prospects due to the rapid advancement of innovative technologies & features
CHALLENGES:
Due to a general lack of familiarity with advanced features, the market may encounter difficulties in the future
The global market may be challenged by the product's high price
One of the numerous growing markets affected by the current COVID-19 epidemic is the semi-autonomous car business. Global sales increased significantly in the year before, but the rapid appearance of the global pandemic has slowed this year's global market growth. It is expected that many regions will limit transportation, manpower, productivity, and sales by half by 2020. Many investors have demonstrated a lack of interest in the semi-autonomous car product as a result of these global restrictions.
Therefore, various safety precautions have been established by the global semi-autonomous vehicle market to remove all the growing problems in the global pandemic. When the lockdown was restored in all locations, it signified its growth objectives on a wide scale.
Based on the automation level segment, the global market has been divided into level 1, level 2, and level 3. In 2023, the semi-autonomous vehicle market's biggest volume share was held by the level 1 automation category, between 2024 and 2031. The ability to provide advanced driver assistance systems at Level 2 automation will account for a considerable portion of the market by 2023. (ADAS).
The global market has been divided into passenger cars and commercial vehicles based on the material segment. In 2023, passenger automobiles had a 73.90% volume share. A large number of passenger automobiles and the desire to improve the driving experience support semi-automated vehicles. Semi-autonomous technology helps drivers negotiate traffic and abrupt curves safely and effectively, reducing driver stress.
The global market has been divided into Camera, Ultrasonic sensors, LiDAR, Radar, and Others based on the components. The combination of all of these factors is helping to generate a bigger market share for semi-autonomous vehicles throughout the course of the projection period.
By Automation Level:
Level 1
Level 2
Level 3
By Vehicle Type:
Passenger car
Commercial vehicles
By Components:
Camera
LiDAR
Radar
Others
The market for semi-autonomous vehicles around the world may be broken down into four primary regions: Asia-Pacific, Europe, North America, and the Rest of the world. Because of factors such as the rising demand for high-end automobiles, the high disposable income per capita, and the sizeable customer base, the market in North America is expected to take the lead in the global market for semi-autonomous vehicles throughout the time covered by the estimate. In addition, it is anticipated that the Asia-Pacific area would generate market value for semi-autonomous vehicles during the course of the forecast. This is due to the rising focus of global technology innovators on commercializing, investing in, and testing semi-autonomous technology. Additionally, the growing awareness about the importance of vehicle safety in a number of these countries is contributing to this region's expansion of the value of the market for semi-autonomous vehicles.
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REGIONAL COVERAGE:
North America
The USA
Canada
Mexico
Europe
Germany
The UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Audi AG; BMW AG; Continental AG; Honda Motor Corporation; Daimler AG (Mercedes Benz); Valeo S.A.; Ford Motor Company; General Motors; Nissan Motor Company; Toyota Motor Corporation; Volvo Car Corporation; Volkswagen AG are some of the affluent competitors with significant market share in the Semi-Autonomous Vehicle Market.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 3.83 Million |
| Market Size by 2031 | US$ 90.57 Million |
| CAGR | CAGR of 48.5% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Automation Level (Level 1, Level 2, Level 3), by Vehicle Type (Passenger car, Commercial vehicles) • by Components (Camera, Ultrasonic sensor, LiDAR, Radar, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Audi AG; BMW AG; Continental AG; Honda Motor Corporation; Daimler AG (Mercedes Benz); Valeo S.A.; Ford Motor Company; General Motors; Nissan Motor Company; Toyota Motor Corporation; Volvo Car Corporation; Volkswagen AG |
| Key Drivers | • Enhancing the vehicle's safety features. • The rising need for more fuel-efficient vehicles is fueling the global market for semi-autonomous vehicles. |
| RESTRAINTS | • Information technology may limit the growth of the semi-autonomous car sector. • High cost of semi-automated automobiles. |
Semi-autonomous cars are well-known for their ability to operate for longer periods of time with little or no human involvement. They are also capable of reversing, stopping, and increasing or decreasing their speed.
North America region is dominating the Semi-Autonomous Vehicle Market.
The forecast period of the Semi-Autonomous Vehicle Market is 2024-2031.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Semi-Autonomous Vehicle Market Segmentation, By Automation Level
8.1 Level 1
8.2 Level 2
8.3 Level 3
9. Global Semi-Autonomous Vehicle Market Segmentation, By Vehicle Type
9.1 Passenger car
9.2 Commercial vehicles
10. Global Semi-Autonomous Vehicle Market Segmentation, by Components
10.1 Camera
10.2 Ultrasonic sensor
10.3 LiDAR
10.4 Radar
10.5 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 the USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 the UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Ford Motor Company (US),
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Audi AG
12.3 BMW AG
12.4 Continental AG
12.5 Honda Motor Corporation
12.6 Daimler AG (Mercedes Benz)
12.7 Valeo S.A
12.8 General Motors
12.9 Nissan Motor Company
12.10 Toyota Motor Corporation
12.13 Volvo Car Corporation
12.14 Volkswagen AG
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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