Driving Toward the Future: Insights into the Semi-Autonomous Vehicle Market

Semi-Autonomous Vehicle Market Overview

In 2021, the income from the global market for semi-autonomous vehicles was estimated at USD 1.64 billion. Over the projected period of 2030, the market is expected to reach a valuation of USD 11.3 billion with a CAGR rate of 31.3%.

The market expansion in recent years has been aided by the quick advancement of sensor processing technology, adaptive algorithms, HD mapping, deployment of infrastructure-to-vehicle, etc. These factors will also be the main market drivers in the future.

The Covid-19 epidemic has had a detrimental overall influence on the global market for semi-autonomous vehicles. Lockdown and limitations have a significant impact on the market. But, the limits have also increased demand for autonomous vehicles during the post-pandemic period, which has had a favourable impact on the market.

Recent research shows that the Global Semi Autonomous Vehicle Market has undergone a steep growth in past few years. Also, the market is expected to find more opportunities to grow further in the projected period of 2022 to 2030.

Semi-Autonomous Vehicle Market Segmentation

The Global Semi Autonomous Vehicles Market is segmented by type, vehicle type and region.

Depending upon the type, the market is segmented into semi autonomous and fully autonomous. In the type segment the semi autonomous section has the largest share due to the rise in technological advancement. Technical development makes a huge opportunity to grow more semi autonomous vehicles.

Depending on the vehicle type, the market is segmented into passenger vehicles and commercial vehicles. The passenger vehicle segment holds the largest share due to the rapid modernization which increases the demand for passenger vehicle.

Semi-Autonomous Vehicle Market Regional Classification

According to regional segmentation, the Global Semi Autonomous Vehicles Market is further divided into North America, Europe, Asia Pacific, Middle East Asia and other regions.

North America holds the largest Global Semi Autonomous Vehicles Market revenue due to the increasing demand for driverless vehicles, technological advances and government initiative in this region.

Also, the Asia Pacific will be the fastest growing market. Due to the rapid growth in technological advancement and adaptability to these kind of vehicles in this regions.

Europe holds the second largest position in the Global Semi autonomous Vehicles Market Size and have a stable growth in the future.

Semi-Autonomous Vehicle Industry News

Some of the major key players in the Global Semi Autonomous Vehicles Market are Autoliv Inc., Honda motor corp., Apitiv, Waymo LLC., Robert Bosch GmbH, Baidu, AutoX Inc., Daimler AG, Volvo, Hyundai Motor Group, Ford Motor Group, pony.ai etc. These key players are looking forward to innovate and offer new technologies in the market, increase their production capacity, improve technologies aspects etc to maintain a stronghold in this market and withstand the high competition. Also the constant RD efforts by the key companies makes the market competition more high.

In January 2021, Honda announced their collaborations with the General Motors and Cruise to expand their Autonomous Vehicle Mobility services to a greater area.

In July 2020, an Intel company Mobileye announces their collaboration with Willer a transportation company to launch a self-driven robot taxi.

Semi-Autonomous Vehicle Market Key Players

Continental AG (Germany)

Daimler AG (Germany)

NXP Semiconductor (the Netherland)

Valeo (France)

ZF Friedrichshafen AG (Germany)

Magna International (Canada)

Tesla (US)

BMW (Germany)

Waymo LLC (US)

Texas Instruments (US)