Semi-autonomous and Autonomous vehicle market Growth Driven by the Surge in Demand for Sophisticated and Innovative Technologies

Vehicle without the need of any human intervention. Many autonomous vehicles are being developed Autonomous cars are vehicles which are capable of sensing the environment and navigating the but these cars are still not permitted on public roads. In semi-autonomous cars the responsibility of driving is delegated to the driver and the technology is used in the vehicles for driver-air and safety feature. Established auto-makers such as Tesla, Nissan, Mercedes-Benz and Volvo have been strongly focusing on developing semi-autonomous cars in the recent years.

The global semi-autonomous and autonomous vehicle market is expected to witness swift growth during the forecast period, driven by the surge in demand for sophisticated and innovative technologies, increased research and development expenditure and growing inclination towards minimal driving errors.

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Further an increase in the global production of vehicles both in the developed and developing countries coupled with the rising need of highly secured cars and stringent government norms across the global is expected to bolster the market growth during the forecast period.

However, high infrastructure and vehicle cost are posing to be a hindrance to the speedy growth of the global semi-autonomous and autonomous vehicle market. The high repair cost of these vehicles could further restrain the market growth as certain part of these vehicles are complicated and thus custom made, making them very expensive.

The global semi-autonomous and autonomous vehicle market can be segmented on the basis of vehicle type into semi-autonomous vehicles and autonomous vehicles. By components, the global market can be segregated into radar, engine control unit, fusion sensor, vision sensor, camera, ranging unit, control processing unit, 3D laser scanners and steering assist electronic control unit.

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The global semi-autonomous and autonomous vehicle market can be further classified geographically into North America, Europe, Asia Pacific, South America and Middle East and Africa. North America and Europe are leading the global market, owing to the increase in vehicle production in the recent years in developed countries like the U.S. and Germany, with OEMs catering to both the domestic and overseas demand.

Some of the major players operating in the global semi-autonomous and autonomous vehicle market include Volvo, Mercedes-Benz, Volkswagen AG, Daimler AG, Nissan Motor Company Ltd, Robert Bosch GmbH, Continental AG, Delphi Automotive PLC, Google Inc., Cisco Systems, Inc., Visteon Corporation and Tesla Motors among others.

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