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Market Dynamic

Key Drivers and Emerging Trends

The major factor supplementing the growth of the global semi-autonomous & autonomous vehicles market is the growth in connected vehicle technology and demand for productive, safe, and efficient driving options. These vehicles can help in reducing traffic congestions leading to the efficient delivery of goods & services. Moreover, these vehicles facilitate better fuel efficiency as they can decelerate and accelerate more efficiently as compared to a human driver. In addition, semi-autonomous vehicles are those vehicles that can operate for a longer period with little human input. Furthermore, these vehicles have less carbon emission, which is another factor propelling the growth of the global semi-autonomous & autonomous vehicles market. Moreover, the automotive ecosystem is constantly promoting the usage of autonomous and semi-autonomous vehicles to shift the attention towards completely automatic automobiles free of human errors. These factors play a crucial role in bolstering the growth of the global semi-autonomous & autonomous vehicles market.

Emerging need for a safe and more effective driving system to encourage the adoption of semi-autonomous vehicles has driven the market growth. The implementation of strategic government norms encouraging auto-tech and the advancements in connected vehicle technology will augment the market growth. Moreover, ongoing advancements in in-vehicle technologies and sensors and increasing incidences of road accidents, have encouraged the adoption of advanced safety systems, which will bolster the market growth.

Impact of COVID-19 on the Semi-Autonomous & Autonomous Vehicles Market
The widespread outbreak of the coronavirus has negatively impacted the automotive industry as the worldwide lockdown halted the manufacturing of automobiles. Moreover, automakers had to reduce the output at their production plants as they were not allowed to work with full capacity due to social distancing. Various automakers were working intensely on alternatives and countermeasures to reduce the impact of this epidemic on their business.

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Level of Automation – Segment Analysis

Based on the level of automation, the level 3 segment is anticipated to grow at a higher CAGR during the forecast period. This is majorly attributed to the advanced driver assistance systems, such as lane departure warning, adaptive cruise control, and collision detection. Fully autonomous cars fail to attract a wide customer base as they are not very secure from cyber-attacks. These factors are likely to boost the growth of the level 3 segment in the global semi-autonomous & autonomous vehicles market.

Fuel Type – Segment Analysis

On the basis of the fuel type, the hybrid electric vehicle segment is expected to grow at a higher CAGR over the forecast period. This is mainly attributed to the inclination of consumers towards the adoption of hybrid electric vehicles as batteries are more cost-effective and have increased mileage capabilities. EV sales are substantially increasing across the globe with the help of several regulations and subsidies that encourage adoption. These factors play a crucial role in augmenting the growth of the hybrid electric vehicle (HEV) segment in the global semi-autonomous & autonomous vehicle market. For instance, according to IEA, the global electric car sales were around 2 million in 2019, surpassing electric car sales in 2018.

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Region – Segment Analysis

Based on the region, the North America region is projected to grow at a higher CAGR during the forecast period. The North America region is a promising market for luxury autonomous vehicles. Moreover, there has been a rise in sales of automobiles and problems related to vehicle safety. Furthermore, the continuous growth in the automotive industry and the rising demand for more automated vehicles help the regional market in leveraging the highest market share. These factors are significantly contributing to the growth of the semi-autonomous & autonomous vehicles market in North America. Increasing penetration of advanced technologies which include the Internet of Things (IoT) and Machine Learning (ML) as well as the presence of leading market players including Google, Inc.; Cisco Systems, Inc.; and IBM Corporation will expand the market size.

Top Market Players

Various notable players operating in the market include Continental AG, Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, Valeo, NXP Semiconductor, ZF Friedrichshafen AG, Texas Instruments Incorporated, Magna International Inc, BorgWarner Inc, among others.

Key Developments

• • In 2021, DENSO Corporation launched products for Advanced Drive, an advanced driver assistance technology featured with the Lexus LS.
  • In 2022 – Infineon Technologies AG expanded their backend operations in PT Infineon Technologies, Indonesia: to procure real estate from PT Unisem. The premises includes manufacturing buildings that will expand Infineon’s production area in Batam.
  • In 2021, NXP and Kalray collaborated to provide a common hardware and software platform for a secure, reliable and scalable autonomous driving solutions. These solutions intend to incorporate the near-term delivery of L2+ and full automation in the long run.
  • In 2020, Denso Corporation announced its collaboration with Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated. This partnership aims to develop next-generation cockpit systems by integrating the joint efforts of both the companies. 

Segments covered in the Report:

The global semi-autonomous & autonomous vehicles market has been segmented on the basis of level of automation, component, fuel type, and regions. Based on level of automation, the market is segmented into level 1, level 2, level 3, level 4, and level 5. Based on component, the market is segmented into camera, LiDAR, radar, ultrasonic sensor, and others. Based on fuel type, the market is segmented into internal combustion engine (ICE), hybrid electric vehicle (HEV), and battery electric vehicle (BEV). 

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Key questions answered in this research report:

• • At what pace is global semi-autonomous & autonomous vehicles market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in semi-autonomous & autonomous vehicles market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global semi-autonomous & autonomous vehicles market?
  • Which level of automation generated maximum revenues in 2019 and identify the most promising level of automation during the forecast period?
  • What are the various component areas of global semi-autonomous & autonomous vehicles market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Semi-Autonomous & Autonomous Vehicles Market by Level of Automation

• • Level 1
  • Level 2
  • Level 3
  • Level 4
  • Level 5

Global Semi-Autonomous & Autonomous Vehicles Market by Component

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

Global Semi-Autonomous & Autonomous Vehicles Market by Fuel Type

• • Internal Combustion Engine (ICE)
  • Hybrid Electric Vehicle (HEV)
  • Battery Electric Vehicle (BEV)

Global Semi-Autonomous & Autonomous Vehicles Market by Region

• • North America Semi-Autonomous & Autonomous Vehicles Market (Option 1: As a part of the free 25% customization)
    • By Level of Automation
    • By Component
    • By Fuel Type
    • US Market All-Up
    • Canada Market All-Up
  • Europe Semi-Autonomous & Autonomous Vehicles Market (Option 2: As a part of the free 25% customization)
    • By Level of Automation
    • By Component
    • By Fuel Type
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Semi-Autonomous & Autonomous Vehicles Market (Option 3: As a part of the free 25% customization)
    • By Level of Automation
    • By Component
    • By Fuel Type
    • China Market All-Up
    • India Market All-Up
    • Japan Vehicles Market All-Up
    • Rest of APAC Market All-Up
  • RoW Semi-Autonomous & Autonomous Vehicles Market (Option 4: As a part of the free 25% customization)
    • By Level of Automation
    • By Component
    • By Fuel Type
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Semi-Autonomous & Autonomous Vehicles (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Continental AG
  • Denso Corporation
  • Robert Bosch GmbH
  • Infineon Technologies AG
  • Valeo
  • NXP Semiconductor
  • ZF Friedrichshafen AG
  • Texas Instruments Incorporated
  • Magna International Inc
  • BorgWarner Inc.