Semi-Autonomous Vehicle Market Overview
Recent research shows that the Global Semi Autonomous Vehicle Market has undergone a steep growth in past few years. Also, the market is expected to find more opportunities to grow further in the projected period of 2021 to 2028.
The Global Semi Autonomous Vehicle Market revenue was valued at USD 1.64 billion in 2021. The market is anticipated to reach the valuation of USD 11.3 billion with the CAGR rate of 31.3% within the forecasted period of 2028.
Fast improvement of sensor processing technology, adaptive algorithm, HD mapping, deployment of infrastructure-to-vehicle etc have boosted the market growth in past years. Also, these aspects will be the major market drivers in future time.
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During Covid-19 pandemic, the Global Semi Autonomous Vehicle Market has faced a negative impact overall. The market was highly affected due to lockdown and restrictions. But on the other hand the restrictions increases the demand for Autonomous vehicles in the post pandemic time and created a positive response in the market.
Semi-Autonomous Vehicle Market Segmentation
The Global Semi Autonomous Vehicles Market is segmented by type, vehicle type and region.
Depending upon the type, the market is segmented into semi autonomous and fully autonomous. In the type segment the semi autonomous section has the largest share due to the rise in technological advancement. Technical development makes a huge opportunity to grow more semi autonomous vehicles.
Depending on the vehicle type, the market is segmented into passenger vehicles and commercial vehicles. The passenger vehicle segment holds the largest share due to the rapid modernization which increases the demand for passenger vehicle.
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Semi-Autonomous Vehicle Market Regional Classification
According to regional segmentation, the Global Semi Autonomous Vehicles Market is further divided into North America, Europe, Asia Pacific, Middle East Asia and other regions.
North America holds the largest Global Semi Autonomous Vehicles Market revenue due to the increasing demand for driverless vehicles, technological advances and government initiative in this region.
Also, the Asia Pacific will be the fastest growing market. Due to the rapid growth in technological advancement and adaptability to these kind of vehicles in this regions.
Europe holds the second largest position in the Global Semi autonomous Vehicles Market Size and have a stable growth in the future.
Semi-Autonomous Vehicle Industry News
Some of the major key players in the Global Semi Autonomous Vehicles Market are Autoliv Inc., Honda motor corp., Apitiv, Waymo LLC., Robert Bosch GmbH, Baidu, AutoX Inc., Daimler AG, Volvo, Hyundai Motor Group, Ford Motor Group, pony.ai etc. These key players are looking forward to innovate and offer new technologies in the market, increase their production capacity, improve technologies aspects etc to maintain a stronghold in this market and withstand the high competition. Also the constant R&D efforts by the key companies makes the market competition more high.
· In January 2021, Honda announced their collaborations with the General Motors and Cruise to expand their Autonomous Vehicle Mobility services to a greater area.
· In July 2020, an Intel company Mobileye announces their collaboration with Willer a transportation company to launch a self-driven robot taxi.
Semi-Autonomous Vehicle Market Key Players
· Continental AG (Germany)
· Daimler AG (Germany)
· NXP Semiconductor (the Netherland)
· Valeo (France)
· ZF Friedrichshafen AG (Germany)
· Magna International (Canada)
· Tesla (US)
· BMW (Germany)
· Waymo LLC (US)
· Texas Instruments (US)
· General Motors (US)
· Mercedes-Benz (Germany)
· Audi AG (Germany)
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