Market Synopsis

The focus on vehicle safety to reduce the number of road accidents and associated deaths and the regulations incorporating safety features in vehicles are factors driving the Global Semi-Autonomous Vehicle Market during the forecast period. Furthermore, the increase in demand for efficient driving experience, the need for better fuel efficiency and the increased integration of advanced technology in the automotive sector are expected to contribute to market growth. The semi-autonomous market size of vehicles can however be hindered by the greater price of semi-autonomous vehicles and the lack of information technology , communication infrastructure in emerging countries. Increasing demand for connected cars during the forecast period is expected to create an opportunity for the global semi-autonomous vehicle industry.

Over the forecast period , the global semi-autonomous vehicle market is expected to experience rapid growth , driven by the surge in demand for sophisticated and advanced technology , increased expenditure on research and development and a increasing inclination towards minimal driving errors. Growing global vehicle demand in both developed and developing countries, combined with the increasing need for highly secure cars and strict global government standards, is expected to fuel market growth during the peri forecast. High infrastructure and vehicle costs, however, are posing an obstacle to the rapid growth of the global semi-autonomous vehicle market. Such vehicles’ high maintenance costs could further hinder demand growth as certain parts of these vehicles are complex and often custom-made, making them very costly. Customers’ trust and dependency on technology to eliminate partial or full vehicle control will also play a major role in shaping the market dynamics of semi-autonomous vehicles.

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Segmental Analysis

The global market for semi-autonomous vehicles is segmented according to component, ADAS features, level of automation, propulsion, and region. The global market was segmented by component into camera, LiDAR, radar, ultrasonic sensor, and others. The global market has been segmented on the basis of ADAS technologies into crash warning system (CWS), lane assist (LA), smart park assist (SPA), adaptive cruise control (ACC), cross-traffic alert (CTA), automatic emergency braking (AEB) and others. The global market has been segmented according to the level of automation as Level 1 , Level 2, and Level 3. The global market was segmented as ICE and hybrid based on the propulsion.

Regional Outlook

Geographically , the global demand for semi-autonomous vehicles was segmented into four major regions, North America, Europe , Asia-Pacific and the rest of the world. Thanks to the large consumer base and high disposable per capita income, North America is projected to dominate the global Semi-Autonomous Vehicle Market Size, over the forecast era, boosting demand for high-end vehicles. Such a scenario makes local and international automotive OEMs investing in RD, a necessity for optimizing their business potential. Asia-Pacific is also projected to report the highest growth rate in the forecast era, owing to the concentration of the global technology innovators on investing, testing, and commercializing the semi-autonomous technology. Furthermore, this area is home to proven auto-makers including Nissan, Honda and Toyota among others, who offer semi-autonomous characteristics. Increasing awareness of vehicle safety across major countries contributes to market growth for Asia-Pacific. It is predicted that changing lifestyles and growing emphasis on developing road infrastructure will fuel semi-autonomous market growth in the coming years.

Competitive Dashboard

The major Players in the global semi-autonomous vehicle market are Mercedes-Benz (Germany), Continental AG (Germany), NXP Semiconductor (the Netherland), Daimler AG (Germany), Valeo (France), ZF Friedrichshafen AG (Germany), Magna International (Canada), Tesla (US), Waymo LLC (US), Texas Instruments (US), BMW (Germany), General Motors (US), and Audi AG (Germany).

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