Semi-Autonomous Vehicle Market to Witness Significant Growth During the Assessment Period

Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Semi-Autonomous Vehicle Market. The Global Semi-Autonomous Vehicle Market is Expected to Progress with 48.3% CAGR from 2022–2030.

Semi-Autonomous Vehicle Overview

The semi-autonomous vehicle operates for a longer period with little human intervention for controlling all the safety-critical functions, sensing, and analyzing the driving conditions in order to enable the driver to retake controls providing sufficient transition time. Level1, level2, and level 3 are the various levels of automation widely used for the semi-autonomous vehicles. Semi-autonomous vehicles accelerate and decelerate more efficiently than manual driving, which lead to their high demand. The rise in need for fuel efficient vehicles and the demand for technologically advanced vehicles are expected to raise the demand for semi-autonomous vehicles during the forecast period. The global semi-autonomous vehicle market is estimated to witness ~48.3% CAGR from 2022–2030.

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

On the basis of component, the radar segment is expected to register the highest growth rate during the forecast period in the global semi-autonomous vehicle market. This growth is attributed to its wide range of application in semi-autonomous vehicles.

On the basis of ADAS features, the automatic emergency braking segment is expected to register the fastest CAGR during the forecast period in the global semi-autonomous vehicle market. The increasing number of road accidents with subsequent rise in demand for preventive systems and technologies to control the accidents and death percentage in road accidents, are the factors raising the demand for automatic emergency braking during the forecast period.

On the basis of automation level, the level 3 type segment is expected to register the fastest CAGR during the forecast period in the global semi-autonomous vehicle market. The technological advancements and increasing market penetration of advanced technologies in the semi-autonomous vehicles are expected to fuel the demand for level 3 automation in the global semi-autonomous vehicles market during the forecast period.

Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of Semi-Autonomous Vehicle Market Trends

On the basis of propulsion, the electric propulsion segment is expected to register the higher growth rate in the global semi-autonomous vehicle market. The increase in demand for electric vehicles, strategic initiatives by major players and government initiatives to increase the sale of electric vehicle and related infrastructure, are the factors expected to boost the adoption of electric propelled vehicles through the forecast period.

The global market for semi-autonomous vehicle is segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America held the largest share of the global semi-autonomous vehicle market due to the presence of established automotive OEMs, across the region and the increase in demand for technologically advanced features and technologies in automotive vehicles.

Prominent Players

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

Industry News

• In 2018, Continental and NVIDIA partnered to develop a semi-autonomous vehicle slated to debut in 2021 by combining the Continental’s sensor technology and NVIDIA’s AI software and computer processing units to develop artificial intelligence for powering semi-autonomous cars.

• In 2018, The California Department of Motor Vehicles granted Waymo LLC first permit to begin testing driverless vehicles on public streets and highways.

This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises the necessary assessment of the competitive scenarios and strategies in the global semi-autonomous vehicle market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both, historical market values and pricing and cost analysis.