Global Semi-Autonomous Vehicle Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Semi-autonomous vehicles are popular due to their operating system because it need minimum manual intervention for a longer period. Furthermore, these semi-autonomous vehicles can change stops, lanes and decelerate or accelerate. Along with that, these vehicles can capable of self-parking and sense the driving conditions and it also allows the driver to retake controls, it offering sufficient transition time and control all the safety always depends on the technology as well as its automation levels. Even the advanced driver assistance system (ADAS) characteristics functioning is get-together more attraction of the consumers as it can help the human driver in controlling the process of the vehicle.

Data Bridge Market Research analyses that the semi-autonomous vehicle market was valued at USD 19.13 million in 2021 and is expected to reach USD 205.49 million by 2029, registering a CAGR of 34.55% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.     

Report Scope and Market Segmentation

Market Definition

A semi autonomous vehicle can decelerate and accelerate and can stop without human intervention. Semiautonomous vehicles may be capable to keep in lane, and they may also be capable to park themselves without any human intervention, but they are not self-driving. In most cases, in this vehicle, drivers must always keep their hands on the wheel.

Semi-Autonomous Vehicle Market Dynamics

Drivers

• Rising demand for safety and security purposes

The rise in concern regarding safety and security has boosted consumers' demand for semi-autonomous vehicle technologies. The semi-autonomous vehicles have many features such as improved fuel efficiency, Minimal vehicle accidents, and engine productivity. These are some potential benefits expected to increase the demand for the semi-autonomous vehicle and drive the market's growth.

• Reduced fuel consumption

Semi-autonomous vehicles are highly fuel-efficient because they can accelerate and decelerate more efficiently than a human driver, reducing fuel consumption. Due to the fuel efficient property increase the demand of semi-autonomous vehicle which are expected to increase the revenue growth of the market.

In addition to the observable profits, reductions in fuel use, and less carbon monoxide emissions will contribute to the sustainability and environmental goals.

 Opportunities

• Technological advancement

The increasing technological advancement of semi-autonomous cars has augmented the integration with related technologies, therefore growing efficiency by minimizing the human error. Semi-autonomous vehicles can upsurge the efficiency of vehicles as they would deliver updates, real-time traffic improved driving assistance systems, and connected vehicles. Semi-automatic vehicles also deliver the ability to indulge in intelligent driving, which help in changing the routes accordingly. These are major factor which are expected to create immense opportunity for the growth of the semi-autonomous vehicle market.

Furthermore, increased strategic collaborations in the markets will act as market drivers and increase the beneficial opportunities for the market’s growth rate.

Restraints/ Challenges

• Lack of knowledge

The lack of information technology and technical knowledge about the advanced features among the consumers are the major factors that are expected to restrain the growth of the semi-autonomous market.

• High cost of vehicle

The high cost of semi-autonomous vehicles due to advance technology and the communication infrastructure in developing countries might obstruct the market size of the semi-autonomous vehicle during forecast period.

This semi-autonomous vehicle market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the semi-autonomous vehicle market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Semi-Autonomous Vehicle Market

The global economy has slowed as a result of the covid-19 outbreak. Even though new versions of this vehicle impose a major risk to the human health, semi-autonomous vehicles market is anticipated to upsurge again as trade borders are opened and regulations are eased. This pandemic has mainly hit the automobile sector. Market participants and manufacturers rely on contingency planning to tackle operations, supply chain and inventory management issues. International and domestic businesses are taking benefit of government stimulus measures to increase E.V. sales. As a result of these trends, the infrastructure for semi-autonomous vehicles anticipated to grow.

Recent Development

• In 2020, Qualcomm Technologies, Inc. and Denso Corporation has announced their collaboration work. Here, the Qualcomm Technologies, Inc., is a subsidiary of Qualcomm Incorporated. And its goal to improve the next-generation cockpit systems.

Global Semi-Autonomous Vehicle Market Scope

The semi-autonomous vehicle market is segmented on the basis of component, ADAS features, automation level, propulsion and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Camera
• LiDAR
• Radar
• Ultrasonic
• Sensor
• Others

ADAS Features

• Lane Assist
• Crash Warning System
• Adaptive Cruise Control
• Smart Park Assist
• Cross Traffic Alert
• Automatic Emergency Braking
• Others

Automation Level

• Level 1
• Level 2
• Level 3

 Propulsion

• ICE
• Electric

Application

• Transportation
• Logistics Military and Defence

Semi-Autonomous Vehicle Market Regional Analysis/Insights

The semi-autonomous vehicle market is analysed and market size insights and trends are provided by country, component, ADAS features, automation level, propulsion and application as referenced above.

The countries covered in the semi-autonomous vehicle market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.

North America dominates the semi-autonomous vehicle market in terms of market revenue and will continue to flourish its governance during the forecast period. This is due to the rising demand for safer and more fuel-efficient vehicles and stringent government regulations in this region.

Asia-pacific is expected to be the fastest developing regions due to the due to the growing global technology innovators on investing, commercializing and testing the semi-autonomous technology.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Semi-Autonomous Vehicle Market Share Analysis

The semi-autonomous vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to semi-autonomous vehicle market.

Some of the major players operating in the semi-autonomous vehicle market are:

• Mercedes-Benz Group AG (Germany)
• Continental AG (Germany)
• Valeo (France)
• ZF Friedrichshafen AG (Germany)
• Tesla (U.S.)
• Magna International Inc (Canada)
• Waymo LLC (U.S.)
• BMW (Germany)
• Texas Instruments Incorporated. (U.S.)
• General Motors (U.S.)
• Audi AG (Germany)
• NXP Semiconductor (Netherlands)
• Ford Motor Company (U.S.)
• Volkswagen (Germany)
• Toyota Kirloskar Motor (India)

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