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Semi-Autonomous Vehicle Market Report Scope & Overview:

The Semi-Autonomous Vehicle Market Size was valued at USD 3.83 million in 2023 and is expected to reach USD 90.57 million by 2031 and grow at a CAGR of 48.5% over the forecast period 2024-2031.

Semi-autonomous cars are well-known for their ability to operate for longer periods of time with little or no human involvement. They are also capable of reversing, stopping, and increasing or decreasing their speed. The Semi-autonomous vehicles can also sense the driving circumstances, automated parking system enables then to park them self, let the driver take control, control all of the safety-critical operations, and also provide enough transition time. It has been discovered that the working procedure of semi-autonomous vehicles always depends on the level of automation, as well as the technology of the vehicle. There has been a lot of interest in advanced driver assistance systems (ADAS) since they can assist the human driver in directing their vehicle's operation.

Semi-Autonomous Vehicle Market Revenue Analysis

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New models of the Toyota Mirai and Lexus LS, both manufactured by Toyota Motor Corporation, now come equipped with semi-autonomous driving capabilities. In order to provide help to drivers, it is able to monitor traffic patterns and obtain over-the-air (OTA) updates through deep learning.

MARKET DYNAMICS:

KEY DRIVERS:

  • Enhancing the vehicle's safety features

  • The rising need for more fuel-efficient vehicles is fueling the global market for semi-autonomous vehicles

  • Escalating the need for a safe and efficient mode of transportation

  • Increased use of modern technology in the automotive industry

RESTRAINTS:

  • Information technology may limit the growth of the semi-autonomous car sector

  • High cost of semi-automated automobiles

  • Semi-autonomous car sales could be hampered by poor communication infrastructure

OPPORTUNITIES:

  • There are additional potential opportunities in the global market for connected cars in the predicted term

  • Manufacturers have greater prospects due to the rapid advancement of innovative technologies & features

CHALLENGES:

  • Due to a general lack of familiarity with advanced features, the market may encounter difficulties in the future

  • The global market may be challenged by the product's high price

IMPACT OF COVID-19:

One of the numerous growing markets affected by the current COVID-19 epidemic is the semi-autonomous car business. Global sales increased significantly in the year before, but the rapid appearance of the global pandemic has slowed this year's global market growth. It is expected that many regions will limit transportation, manpower, productivity, and sales by half by 2020. Many investors have demonstrated a lack of interest in the semi-autonomous car product as a result of these global restrictions.

Therefore, various safety precautions have been established by the global semi-autonomous vehicle market to remove all the growing problems in the global pandemic. When the lockdown was restored in all locations, it signified its growth objectives on a wide scale.

Market, By Automation Level:

Based on the automation level segment, the global market has been divided into level 1, level 2, and level 3. In 2023, the semi-autonomous vehicle market's biggest volume share was held by the level 1 automation category, between 2024 and 2031. The ability to provide advanced driver assistance systems at Level 2 automation will account for a considerable portion of the market by 2023. (ADAS).

Market, By Vehicle Type:

The global market has been divided into passenger cars and commercial vehicles based on the material segment. In 2023, passenger automobiles had a 73.90% volume share. A large number of passenger automobiles and the desire to improve the driving experience support semi-automated vehicles. Semi-autonomous technology helps drivers negotiate traffic and abrupt curves safely and effectively, reducing driver stress.

Market, By Components:

The global market has been divided into Camera, Ultrasonic sensors, LiDAR, Radar, and Others based on the components. The combination of all of these factors is helping to generate a bigger market share for semi-autonomous vehicles throughout the course of the projection period.

MARKET SEGMENTATION:

By Automation Level:

  • Level 1

  • Level 2

  • Level 3

By Vehicle Type:

  • Passenger car

  • Commercial vehicles

By Components:

REGIONAL ANALYSIS:

The market for semi-autonomous vehicles around the world may be broken down into four primary regions: Asia-Pacific, Europe, North America, and the Rest of the world. Because of factors such as the rising demand for high-end automobiles, the high disposable income per capita, and the sizeable customer base, the market in North America is expected to take the lead in the global market for semi-autonomous vehicles throughout the time covered by the estimate. In addition, it is anticipated that the Asia-Pacific area would generate market value for semi-autonomous vehicles during the course of the forecast. This is due to the rising focus of global technology innovators on commercializing, investing in, and testing semi-autonomous technology. Additionally, the growing awareness about the importance of vehicle safety in a number of these countries is contributing to this region's expansion of the value of the market for semi-autonomous vehicles.

Semi-Autonomous Vehicle Market By Region

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REGIONAL COVERAGE:

  • North America

    • The USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • The UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

Audi AG; BMW AG; Continental AG; Honda Motor Corporation; Daimler AG (Mercedes Benz); Valeo S.A.; Ford Motor Company; General Motors; Nissan Motor Company; Toyota Motor Corporation; Volvo Car Corporation; Volkswagen AG are some of the affluent competitors with significant market share in the Semi-Autonomous Vehicle Market.

Audi AG-Company Financial Analysis

Company Landscape Analysis

Semi-Autonomous Vehicle Market Report Scope:
Report Attributes Details
Market Size in 2023 US$ 3.83 Million
Market Size by 2031 US$ 90.57 Million
CAGR CAGR of 48.5% From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Automation Level (Level 1, Level 2, Level 3), by Vehicle Type (Passenger car, Commercial vehicles)
• by Components (Camera, Ultrasonic sensor, LiDAR, Radar, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Audi AG; BMW AG; Continental AG; Honda Motor Corporation; Daimler AG (Mercedes Benz); Valeo S.A.; Ford Motor Company; General Motors; Nissan Motor Company; Toyota Motor Corporation; Volvo Car Corporation; Volkswagen AG
Key Drivers • Enhancing the vehicle's safety features.
• The rising need for more fuel-efficient vehicles is fueling the global market for semi-autonomous vehicles.
RESTRAINTS • Information technology may limit the growth of the semi-autonomous car sector.
• High cost of semi-automated automobiles.

Frequently Asked Questions

Semi-autonomous cars are well-known for their ability to operate for longer periods of time with little or no human involvement. They are also capable of reversing, stopping, and increasing or decreasing their speed.

North America region is dominating the Semi-Autonomous Vehicle Market.

The forecast period of the Semi-Autonomous Vehicle Market is 2024-2031.

  • Enhancing the vehicle's safety features.
  • The rising need for more fuel-efficient vehicles is fueling the global market for semi-autonomous vehicles.
  • Due to a general lack of familiarity with advanced features, the market may encounter difficulties in the future.
  • The global market may be challenged by the product's high price.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Global Semi-Autonomous Vehicle Market Segmentation, By Automation Level

8.1 Level 1

8.2 Level 2

8.3 Level 3

9. Global Semi-Autonomous Vehicle Market Segmentation, By Vehicle Type

9.1 Passenger car

9.2 Commercial vehicles

10. Global Semi-Autonomous Vehicle Market Segmentation, by Components

10.1 Camera

10.2 Ultrasonic sensor

10.3 LiDAR

10.4 Radar

10.5 Others

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 the USA

11.2.2  Canada

11.2.3  Mexico

11.3 Europe

11.3.1  Germany

11.3.2  the UK

11.3.3  France

11.3.4  Italy

11.3.5  Spain

11.3.6  The Netherlands

11.3.7  Rest of Europe

11.4 Asia-Pacific

11.4.1  Japan

11.4.2  South Korea

11.4.3  China

11.4.4  India

11.4.5  Australia

11.4.6  Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1  Israel

11.5.2  UAE

11.5.3  South Africa

11.5.4  Rest

11.6 Latin America

11.6.1  Brazil

11.6.2  Argentina

11.6.3  Rest of Latin America

12. Company Profiles

12.1 Ford Motor Company (US),

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Audi AG

12.3 BMW AG

12.4 Continental AG

12.5 Honda Motor Corporation

12.6 Daimler AG (Mercedes Benz)

12.7 Valeo S.A

12.8 General Motors

12.9 Nissan Motor Company

12.10 Toyota Motor Corporation

12.13 Volvo Car Corporation

12.14 Volkswagen AG

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share analysis

13.3 Recent Developments

14. Conclusion

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

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Data Bank Validation

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