The global semi-autonomous vehicle market is predicted to grow at a 48.3% CAGR over the forecast period (2020-2030), states the new Market Research Future (MRFR) report. Semi-autonomous cars are those that possess the capability to drive themselves through various radars, sensors, and artificial intelligence. However, they need the interference or presence of humans as they encounter any situation that they cannot manage. The technology and working of such cars rest on the automation level.
Various factors are propelling the semi-autonomous vehicle market growth. These factors, as specified by the Market Research Future (MRFR) report, include increasing demand for innovative and sophisticated technologies, increased R&D expenditure, increasing inclination towards minimal driving errors, rise in worldwide production of cars in developed as well as developing countries, requirement for ease in driving, stringent government norms, and growing need for secured cars.
On the contrary, high vehicle and infrastructure cost, high car repair cost, lack of infrastructure for supporting autonomous vehicles in developing nations, and concerns about the safety of personal data of users, and cyber security are factors that may deter semi-autonomous vehicle market growth over the forecast period.
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The Market Research Future report provides a wide segmental analysis of the semi-autonomous vehicle market based on propulsion, automation level, ADAS features, and component.
Based on component, the semi-autonomous vehicle market is segmented into ultrasonic sensor, radar, LiDAR, camera, and others. Of these, the radar segment will have the largest share in the market over the forecast period owing to its wide use in semi-autonomous cars.
Based on ADAS features, the semi-autonomous vehicle market is segmented into automatic emergency braking (AEB), cross traffic alert (CTA), smart park assists (SPA), adaptive cruise control (ACC), crash warning system (CWS), lane assist (LA), and others. Of these, the automatic emergency braking segment will dominate the market over the forecast period. This is owing to increasing road accidents with an increase in demand for technologies and preventive systems for controlling accidents as well as death percentage in road accidents.
Based on automation level, the semi-autonomous vehicle market is segmented into Level 1, Level 2, as well as Level 3. Of these, the level 3 segment will have the largest share in the market over the forecast period. It is predicted to grow at the fastest CAGR. This is owing to growing market penetration of latest technologies in semi-autonomous vehicles coupled with technological advancements.
Based on propulsion, the semi-autonomous vehicle market is segmented into electric and ICE. Of these, the electric propulsion segment will lead the market over the forecast period. This is owing to the burgeoning demand for electric cars, government initiatives to boost the sale of electric cars and related infrastructure, and strategic initiatives undertaken by key players.
Based on the region, the semi-autonomous vehicle market report covers growth opportunities and the latest trends across the Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW). Of these, North America will have the lion’s share in the market over the forecast period. This is due to the burgeoning demand for high-end vehicles, high per capita disposable income, and a strong customer base.
The semi-autonomous vehicle market in the APAC region is predicted to grow at the highest rate over the forecast period. This is due to the focus of global technology innovators on investing, testing as well as commercializing semi-autonomous technologies. Moreover, the growing awareness about car safety in major countries is adding to the market growth in this region.
Leading players profiled in the semi-autonomous vehicle market report include Audi AG (Germany), Mercedes-Benz (Germany), General Motors (US), BMW (Germany), Tesla (US), Daimler AG (Germany), Continental AG (Germany), Texas Instruments (US), Magna International (Canada), ZF Friedrichshafen AG (Germany), Valeo (France), NXP Semiconductor (the Netherlands), and Waymo LLC (US), among others.
July 2019: Nissan’s sporty Skyline sedan will get a midcycle, high-tech update with the latest semi-autonomous system which will allow auto-navigating highway driving that is truly hands-free.
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