Passenger Cars to Continue Dominating APAC Semi & Fully Autonomous Vehicle Market through 2023
Favorable government
initiatives, rising number of technological developments coupled with
increasing focus on minimizing incidences of road accidents to drive Asia-Pacific semi & fully autonomous vehicle market
through 2023
According
to TechSci Research report, “Asia-Pacific Semi & Fully
Autonomous Vehicle Market By Automation Level, By Component, By Vehicle
Type, By Country, Competition Forecast & Opportunities, 2030”, Asia-Pacific semi & fully autonomous
vehicles market is projected to cross $ 16 billion by 2030 on the back of increasing
government support towards the concept of autonomous vehicles coupled with
growing need for safer vehicles in several countries across the region. Additionally,
with rising cases of road accidents there is a growing need for safer vehicles,
and autonomous vehicles are expected to reduce the risk of collisions on roads,
which is anticipated to buoy the region’s autonomous vehicles market over the
next five years.
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In
2016, Asia-Pacific semi & fully autonomous vehicle market was dominated by vehicles
enabled with Level-1 or function specific automation, followed by L0 and L2 segments.
Among components, embedded systems dominate Asia-Pacific semi & fully
autonomous vehicle market, on account of advanced level of security provided by
them. A large demand for autonomous vehicles emanates from China owing to the country’s
extensive push towards autonomous vehicles and undisputed support by the
country’s government.
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Several
autonomous vehicle manufacturers are focusing on enhancing their product
offerings to gather more customer attention towards their vehicles in the
region owing to the vast potential APAC offers. “Major car manufacturers as
well as technology giants are expanding their research and development efforts
in order to develop more efficient and safer autonomous vehicles. which is
expected to augment demand for autonomous vehicles across the region in the
coming years. Rising inclination towards autonomous vehicles on account of them
being safer than the conventional vehicles is likely to aid the growth of
Asia-Pacific semi & fully autonomous vehicle market in the coming years.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Asia-Pacific Semi
& Fully Autonomous Vehicle Market By Automation Level, By Component, By
Vehicle Type, By Country, Competition Forecast & Opportunities, 2030” has analyzed the potential of autonomous vehicle market
across the region, and provides statistics and information on market sizes,
shares and trends. The report will suffice in providing the intending clients
with cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by Asia-Pacific semi
& fully autonomous vehicle market.
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