SAN FRANCISCO, July 21, 2021 / PRNewswire / – The World semi-autonomous vehicle market Demand is expected to reach 60.1 million units by 2028, with a CAGR of 20.8% over the forecast period, according to a new report from Grand View Research, Inc.. The rapid growth can be attributed to the increasing adoption of driver assistance technologies, thereby improving the driving experience. The confluence of capabilities such as electronic braking, adaptive cruise control and obstacle detection; and the continuous technological innovations that occur in driving technologies are driving the growth of the market. Semi-autonomous cars also promise drivers the opportunity to drive more safely during the forecast period, leading to greater adoption. The availability of collision and lane change assistance and progressive learning models in cars help eliminate human error, thereby reducing crashes.
Main lessons and findings:
Level 3 automation segment is expected to become the fastest growing segment during the forecast period. Level 3 automation offers technological advancements with environmental sensing capabilities, capable of making informed decisions such as overtaking slow vehicles, traffic handling and intelligent obstacle detection
- Commercial vehicle segment is expected to register the highest CAGR during the forecast period. The deployment of a semi-autonomous driving solution in commercial vehicles ensures the safe movement of products and goods, thus enabling the driver to maintain good health and posture
- the Asia Pacific region is expected to dominate the market during the forecast period. This can be attributed to the presence of AI hubs in countries such as China, Japan, Singapore, and India; which offers an environment conducive to the semi-autonomous market
Read the 154-page market research report, “Semi-Autonomous Vehicle Market Size, Share and Trend Analysis Report by Automation Level (Tier 1, Tier 2, Tier 3), Vehicle Type (Passenger Car, Commercial Vehicle), By region and segment forecast, 2021-2028by Grand View Research
The increasing technological development of semi-autonomous cars has increased integration with connected technologies, thus increasing efficiency by minimizing human errors. Semi-autonomous vehicles can increase vehicle efficiency as they would offer real-time traffic updates, improved driver assistance systems and connected cars. Semi-automatic cars also offer the possibility of engaging in intelligent driving, thus helping to modify routes accordingly. Thus, the vehicles would be more efficient and safer as they would not waste fuel in traffic jams and ensure the safety of passengers.
Artificial Intelligence (AI) Offers Promising Growth Opportunities In The Semi-Autonomous Car Market Due To Its Applications In Several Automotive Use Cases. The implementation of Ai models makes it easier to recognize patterns and obstacles, which helps in understanding verbal sounds, non-verbal cues and gestures. There has been a growing trend in the adoption of AI for the steering mechanism which simplifies the driving effort, improves engine performance, and increases fuel efficiency.
the Asia Pacific region is expected to experience the fastest CAGR of 22.7%, followed by the Middle East and Africa and South America. The high growth rate can be attributed to a strong AI hub in China, Japan, Singapore, and India, allowing automotive players to easily access automotive-specific AI programs and services. The rising economy of Middle Eastern countries also offers promising growth opportunities for the MEA region. This can be attributed to the increased disposable income of the region’s residents, the growing interest of people in taking advantage of semi-autonomous vehicles for business and personal use, and favorable government regulations that help regulate growth. of the market.
Grand View Research has segmented the global semi-autonomous vehicle market on the basis of level of automation, vehicle type, and region:
- Prospects for the level of automation of semi-autonomous vehicles (volume, million units, 2017 – 2028)
- Semi-Autonomous Vehicle Type Outlook (Volume, Million Units, 2017 – 2028)
- Passenger car
- Commercial vehicle
- Regional outlook for semi-autonomous vehicles (volume, million units, 2017 – 2028)
- North America
- Asia Pacific
- South Korea
- South America
List of key players in the semi-autonomous vehicle market
- Audi AG
- BMW SA
- Continental SA
- Diamler SA (Mercedes-Benz)
- Ford Motor Company
- General Motors
- Honda Motor Company
- Nissan Motor Company
- Toyota Motor Corporation
- Volvo Car Corporation
- Valeo SA
- Volkswagen AG
Find more research reports on Automotive and transport industry, by Grand View Research:
- Autonomous Vehicle Market – Global autonomous vehicle market demand is estimated to be around 6.7,000 units in 2020 and is expected to increase at a CAGR of 63.1% from 2021 to 2030.
- Machine Learning Market – The size of the global machine learning market has been estimated to be $ 6.9 billion in 2018 and is expected to register a CAGR of 43.8% from 2019 to 2025.
- Advanced Driver Assistance Systems Market– The global advanced driver assistance systems (ADAS) market size has been estimated at $ 14.15 billion in 2016. The growing demand for these systems in compact cars is expected to be a key factor in the growth of the market.
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About Grand View Search
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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