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Semi-Autonomous Vehicles Market Worth 7.84 Million Units by 2021
May 10, 2017 | PRNewswireEstimated reading time: 2 minutes
The report "Semi-Autonomous and Autonomous Vehicles Market by Technology, Components, Powertrain (Conventional Vehicle, Hybrid Vehicle, and Electric Vehicle) and Region - Global Forecast to 2021 & 2030", published by MarketsandMarkets, the global Semi-Autonomous Vehicles Market is estimated to be 3.17 Million units in 2016, and is projected to grow at a CAGR of 19.85% from 2016 to 2021, to reach 7.84 Million units by 2021. However, global autonomous vehicles market is estimated to be 0.18 Million units in 2025, and is projected to grow at a CAGR of 41.26% from 2025 to 2030, to reach 1.01 Million units by 2030. The growth of this market is fueled by technological developments and need for safety & security concerns.
Adaptive front lights (semi-autonomous) and RADAR (autonomous) to hold the largest share in the semi-autonomous and autonomous vehicles market, by technology type
The adaptive front light is estimated to account for the largest share in the global Semi-Autonomous Vehicles Market, whereas RADAR technology is estimated to account for the largest share in the global autonomous vehicles market. The park assist technology is one of the most helpful techniques that aids in parking the vehicle easily in most congested spaces, which most of drivers fail to do.
Passenger Cars: Increase in high global production of cars in developed and developing countries
Passenger cars are expected to constitute the largest share, in term of value, in the global semi-autonomous and autonomous vehicles market. This can be attributed to the growing need of highly secured personal cars and government norms in the emerging economies. It has triggered the demand for semi-autonomous and autonomous vehicles, from consumer side. The demand is expected to increase in developing and developed countries such as U.S.A, Germany, China, and Japan, where key car manufacturers are located.
Europe and North America: Leading the semi-autonomous and autonomous vehicles market
Europe and North America is estimated to account for the largest share, in terms of volume, of the semi-autonomous and autonomous vehicles market in 2016, respectively. The region comprises developed economies in the world, including U.S. and Germany. This has led to an increase in vehicle production volumes over the years, with OEMs catering not only to the domestic demand but to overseas demand as well. The major players which are covered in this report are, Tesla Motors, Google Inc., Cisco Systems, Delphi Automotive, Volkswagen Group, Daimler Group and Visteon Corp.
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