Global Semi-Autonomous and Autonomous Vehicles Market was valued at US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2026, at a CAGR of 38.80 % during a forecast period.
The Global semi-autonomous and autonomous vehicles Market has covered the scope for Semi-autonomous as vehicles that require minimum human intervention and utilize advanced driver-assist technologies and Autonomous vehicle, which are capable of manoeuvring without a human operator.
Global Semi-Autonomous and Autonomous Vehicles Market
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Global Semi-Autonomous and Autonomous Vehicles Market Dynamics:
The automobile industry has witnessed a significant rise with advances in artificial intelligence and autonomous technology. Automakers are rapidly turning to driverless vehicles to develop autonomous cars. An increase in concerns around enhanced safety and security are driving the customers’ demand for semi-autonomous and autonomous vehicle technologies. The adoption of the semi-autonomous and autonomous vehicle is different regions in each region.
The developed countries have already adopted semi-autonomous and autonomous technologies. These technologies are evolving rapidly across the globe. Reduction in vehicle accidents, improved fuel efficiency and engine productivity are some of the benefits of semi-autonomous and autonomous vehicles, which increases their demand.
The development of Semi-Autonomous E-scooters is a conclusive stride towards long-term sustainability in the automotive market
Electric scooters and other vehicle types are expressively reducing the physical footprint. The semi-autonomous e-scooters services have resonated with consumers by their rapid adoption. Despite electric scooters are becoming universal in the modern transportation ecosystem, automakers are making a considerable change in the e-scooter landscape by giving them some sort of autonomy.
For instance, in 2019, Beijing-based Segway Ninebot has launched a new e-scooter, which can drive autonomously to its charging stations. Also, Flo Mobility, which is a Bengaluru-based two-wheeler autonomous vehicle developer is focusing on building semi-autonomous e-scooters by utilizing computer vision capabilities, artificial intelligence for obstacle identification.
Road safety and security: Drives the adoption of Semi-Autonomous and Autonomous Vehicles
Road safety and security is one of the major concerns for transport authorities and service providers. Every year, more than a million deaths have occurred because of human error, the distraction of the driver. The drivers are working more than the prescribed duration of driving are also causes accidents.
Semi-Autonomous and Autonomous technology is driving smart transportation, which desires integrated application of internet of things (IoT) technologies and surrounding infrastructure in transportation systems. The automotive manufacturers are expected to focus on the research and development efforts in the field of autonomous and semi-autonomous vehicles, which is expected to provide safety features.
Lack of Regulation Hindering Autonomous Vehicle Deployment: they still aren’t on roads
Rapid advancement in autonomous driving technology has increased the question of suitable operational models for futuristic autonomous driving. Sufficient standards and regulations for the autonomous system do not exist in any industry. Despite the presence of international standard for autonomous systems contains autonomous vehicles, which sets relevant requirements, there is condition does not solve the problems of sensors, machine learning and operational learning. It is one of the key reasons behind the autonomous vehicle deployment still aren’t on road.
Global Semi-Autonomous and Autonomous Vehicles Market 1
The outbreak of the Covid-19 has negatively impacted the automotive industry across the globe. The automakers have halted the manufacturing of automobiles during the pandemic lockdown condition. Automakers had faced the problem of production target completion and work with full capacity because of the social distance.
Global Semi-Autonomous and Autonomous Vehicles Market, Regional Analysis:
In North America, the adoption of semi-autonomous and autonomous vehicles is expected to increase because of high investment in AVs’ use for freight and logistics and the passing of new legislation. North American manufacturers are already exploring the business case for semi-autonomous and autonomous vehicles production. An increase in sales of automobiles and concerns related to vehicle safety is expected to drive regional market growth.
In Asia Pacific countries like Japan and Singapore are expected to witness a Semi-autonomous and autonomous vehicles market growth as some of the prominent key players have initiated to launch autonomous test trials. In 2019, with the ever-growing trend and demand for Semi-autonomous and autonomous vehicles, Japanese automakers Subaru and Toyota have announced that they will expand their collaboration to develop new vehicles for the new era.
Furthermore, Ford Motor Co. and Volkswagen have announced a partnership, which was aiming at saving millions on the development of pickup trucks, and transit vehicles, with a focus toward production of self-driving and electric cars in the near future. . Automobile manufacturers are investing in latest vehicle technologies. Some of the key players are focusing on the deployment of the semi-autonomous and autonomous system with the advanced features like adaptive cruise control, forward collision avoidance and mitigation system, lane departure warning, and active braking systems
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The objective of the report is to present a comprehensive analysis of the Global Semi-Autonomous and Autonomous Vehicles Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Semi-Autonomous and Autonomous Vehicles Market dynamics, structure by analyzing the market segments and projects the Global Semi-Autonomous and Autonomous Vehicles Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Semi-Autonomous and Autonomous Vehicles Market make the report investor’s guide.
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Global Semi-Autonomous and Autonomous Vehicles Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Global Semi-Autonomous and Autonomous Vehicles Market Key Players
• Continental AG
• Robert Bosch
• NXP Semiconductor
• Texas Instruments
• Renesas Electronics
• F Friedrichshafen AG
• Volkswagen AG
• Daimler AG
• Texas Instruments Incorporated
• Denso Corporation
• BYD Company Ltd
• AB Volvo
• BorgWarner Inc.
• Visteon Corporation
• BMW AG
• Magna International Inc.
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