Semi-Autonomous and Autonomous Vehicles Market:
The GMI Research expects the semi-autonomous and autonomous vehicles market to expand at a higher rate. From a regional perspective, North America is expected to rise at a faster CAGR due to the increasing sales of automobiles and concerns regarding vehicle safety. North America is considered a booming market for luxury autonomous vehicles.
Semi-Autonomous and Autonomous Vehicles Market Dynamics (including market size, share, trends, forecast, growth, and industry analysis)
Key Drivers
The rising connected vehicle technology and the strong demand for safe, productive, and efficient driving options are key drivers for surging the growth of the global semi-autonomous vehicles market size. These vehicles can aid in decreasing traffic congestions for effective delivery of goods & services. This type of vehicle allows better fuel efficiency as they have the ability to accelerate and decelerate a vehicle’s speed quickly compared to a human driver. Furthermore, semi-autonomous vehicles are vehicles that can be operated for a long time with little human input. According to the semi-autonomous vehicles market forecast, these vehicles have less carbon emission, which will fuel the growth of the global semi-autonomous & autonomous vehicles market. In addition to this, the automotive ecosystem is continuously encouraging the use of semi-autonomous and autonomous vehicles to drastically shift the traction towards entirely automatic automobiles free of human errors. All these exceptional advantages will boost the growth of the global semi-autonomous & autonomous vehicles market.
The emergence of the COVID-19 pandemic has adversely influenced the growth of the automotive industry due to a temporary shutdown which has hindered the manufacturing of automobiles. Additionally, automakers had to decrease the output at their production plants as they cannot work with the full capacity of workers owing to social distancing. Several automakers were working hard on substitutes and countermeasures to decrease the influence of the crisis on their business.
Level of Automation Segment Drivers
Based on the level of automation, the level 3 is predicted to increase at a faster CAGR in the forecast period due to the advanced driver assistance systems, including collision detection, lane departure warning, and adaptive cruise control. Fully autonomous cars do not attract a large customer base as they are not that much safe from cyber-attacks. These factors are anticipated to accelerate the growth of the market.
Semi-Autonomous and Autonomous Vehicles Market’s leading Manufacturers:
- Continental AG
- Denso Corporation
- Robert Bosch GmbH
- Infineon Technologies AG
- Valeo
- NXP Semiconductor
- ZF Friedrichshafen AG
- Texas Instruments Incorporated
- Magna International Inc
- BorgWarner Inc.
Semi-Autonomous and Autonomous Vehicles Market Segmentation:
Segmentation by Level of Automation:
- Level 1
- Level 2
- Level 3
- Level 4
- Level 5
Segmentation by Component:
- Camera
- LiDAR
- Radar
- Ultrasonic Sensor
- Others
Segmentation by Fuel Type:
- Internal Combustion Engine (ICE)
- Hybrid Electric Vehicle (HEV)
- Battery Electric Vehicle (BEV)
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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