Press release
Middle East and Africa Self-driving Car Market Forecasting and Growth Trajectory for Key Industries by 2032
The Middle East and Africa self-driving car market is expected to expand at a CAGR of 46.6%, leading to global revenue of USD 18.94 Billion by 2024.
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The key players in the Middle East and Africa self-driving car are Apple, Microsoft, IBM, Toyota, and Volvo.
A self-driving car also known as the driverless car or an autonomous car, or robotic car uses a combination of cameras, radars sensor, GPS system and artificial intelligence (AI) to travel between destinations without the need of any human drivers. To quantify self-driving cars must be able to drive to a predetermined destination without human conduction. It is expected that the self-driving car would reduce car crash by 90%.
The Middle East and Africa self-driving market are further segmented based on applications, automation and technological components. The segment applications are also categorized into personal use and commercial use. Initially, self-driving cars will be owned personally. UAE is very progressive in technology. The country is very enthusiastic about embracing self-driving cars The citizens of UAE are excited to welcome self-driven cars.
Based on automation, the self-driving automation levels are categorized into semi-autonomous and full autonomous. Semi-autonomous cars are dominating the automation segment. However, the car-manufacturers Target to introduce full autonomous cars by 2020. The Middle East has been in pole position of adopting autonomous driving with UAE leading the way. The Dubai Future Foundation in union with Dubai Roads and Transport Authority (RTA) launched the Dubai Autonomous Transportation Strategy.
The self-driving car Market segment is based on various technological components that are used in autonomous cars like radar, lidar, automotive vehicle camera, ultrasonic sensor and GPS navigation system. Radar sensor market in the Middle East and Africa region is expected to witness sustainable growth during the forecast period because the area is the global focal point for large investments and business expansion opportunities which has encouraged automobile manufacturers to enter this market
Based on countries, the self-driving market is divided into UAE, Saudia Arabia and the rest of MEA. Countries like UAE, Saudi Arabia, are expected to lead in self-driving car owing to their advancements in connective devices and artificial intelligence(AI).
Key growth factors
The Middle East and Africa are playing an important role in the field of the autonomous vehicle. In Dubai, Future Foundation in collaboration with Dubai Roads and Transport Authority (RTA) launched Dubai Autonomous Transportation Strategy to regulate autonomous driving policies.
Dubai Autonomous Transportation Strategy has also included the metro stations in Dubai. It aims to build a self-driving system to carry millions of passenger every year.
Threats and key players
The region faces technological challenges even though UAE is progressing with its autonomous cars. There have been several public crashes in self-driving cars due to the software glitch. This lowers the confidant of acquiring a self-driving car.
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What's covered in the report?
1. Overview of the Middle East and Africa self-driving car market
2. Market drivers and challenges in the Middle East and Africa self-driving car market
3. Market trends in the Middle East and Africa self-driving car market
4. Historical, current and forecasted market size data for the Middle East and Africa self-driving car market
5. Historical, current and forecasted market size data for the applications of cars in the Middle East and Africa self-driving car market (personal use and commercial use)
6. Historical, current and forecasted market size data for the automation level in the Middle East and Africa self-driving car market (semi-automation and fully-automation)
7. Historical, current and forecasted market size data for the technological components in the Middle East and Africa self-driving car market (radar sensors, video cameras, lidar sensors, ultrasound sensors and GPS navigation systems)
8. Historical, current and forecasted countries (UAE, Saudia Arabia and rest of MEA) market size data for the Middle East and Africa self-driving car market
9. Analysis of the competitive landscape and profiles of major companies operating in the market
Why buy?
1. To gain insightful analysis of the entire market and have a comprehensive understanding of the Middle East and Africa self-driving car market
2. To understand the growth drivers and challenges in the self-driving cars market and its impact on the Middle East and African scenario
3. To analyze the market potential, drivers, latest market trends, opportunities and challenges, self-driving cars market threats and risks
4. Identify major competitors, market dynamics, and respond accordingly
5. Devise market-entry strategies by understanding the factors driving the growth of the market
6. Get stakeholder and technology analysis, profiles of the relevant companies and start-up profiles
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada)
Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe)
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)
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The following are significant aspects of the industry that may be relevant:
Market Size and Growth: The size of the market and its projected growth rate are essential factors that can provide valuable insights into the industry's potential.
Competition: The level of competition in the market is a significant factor that can impact the pricing and profitability of companies operating in the industry.
Technology: Technology plays a critical role in the industry as search algorithms and consumer behavior continue to evolve rapidly.
Consumer Behavior: Understanding consumer behavior, such as search habits and preferences, can help companies optimize their marketing strategies and drive sales.
Regulatory Environment: The industry is subject to various regulatory requirements, including data protection and privacy laws, which can impact the way companies operate in the market.
Economic Factors: Economic factors, such as GDP, inflation, and consumer spending, can affect the growth and profitability of the industry.
Emerging Trends: Staying updated with emerging trends, such as voice search and artificial intelligence, can help companies stay ahead of the curve in the industry.
This report covers several key questions related to the Middle East and Africa Self-driving Car market, including:
What can be expected for the Middle East and Africa Self-driving Car market in the next decade?
What are the primary drivers of growth in the Middle East and Africa Self-driving Car market?
Which technologies are likely to experience the most rapid growth, both by market and region?
How do opportunities within the Middle East and Africa Self-driving Car market vary based on the size of the end market?
What is the breakdown of Middle East and Africa Self-driving Car by type and application?
How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Middle East and Africa Self-driving Car market?
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