Saudi Arabia autonomous vehicle
market is anticipated to register robust growth in the forecast period, 2024-2028.
The primary drivers for the Saudi Arabia autonomous vehicle market are an
increase in focus on road safety, the growing construction of connected
infrastructure, and the development of smart cities. Also, the favorable
government policies for the automotive industry and the high-end investments by
the market players for research and development activities to upgrade the
existing infrastructure are expected to boost the demand for Saudi Arabia
autonomous vehicle market over the next five years.
Surge in Focus on Road Safety Drives the
Market Growth
The Kingdom of Saudi Arabia has put road
safety as one of the National Transformation Program pillars to achieve the
targets set by Saudi Vision 2030. Also, the country aims to lower the number of
road accidents to reduce the financial burden and loss of lives. The advent of
autonomous vehicles is expected to improve the existing road systems. They
offer multiple advantages such as limited fuel use, enhanced safety of the
passengers, and traffic congestion. An autonomous vehicle is integrated with
different sensors that generate real-time information and help passengers make
informed decisions. Also, the artificial intelligence-based traffic management
system that connects to the autonomous vehicles' sensors and can optimize the
traffic signals can predict merging and slowdowns. There are fewer lane
changes, and the road traffic becomes more orderly, which improves road safety
significantly. The growing focus on road safety and advancements regarding
connectivity and security in the automotive industry is expected to play a
significant role in boosting the growth of Saudi Arabia autonomous vehicle
market over the next five years.
Development of Digital Infrastructure
Supports the Market Growth
Automation technology is gaining
momentum in various industries, increasing efficiency, and overall performance.
The rapid adoption of advanced technologies which can help generate real-time
insights, such as internet of things technology, is expected to transform the
automotive industry. Companies are investing in the construction of digital
platforms that can automate the street and traffic lights and help surveillance
the streets. The autonomous vehicle can communicate with smart streetlights,
which lowers the chances of traffic congestion and ensures smooth traffic flow.
Saudi Arabia is working on strengthening the digital infrastructure by
deploying the 5G infrastructure and investing in the construction of new 6,500
towers. The developments in the telecommunication industry to advance the
digital structure of the country are expected to pave the way for Saudi Arabia
autonomous vehicle market growth through the forecast period.
Advancements in Autonomous Vehicle
Boosts the Market Growth
With the advancements in the 5G
technology, the autonomous vehicle is expected to witness significant changes
as the foundation of autonomous driving is a fast and reliable network. 5G
technology enables the vehicle to connect to everything smoothly. The increase
in the stringency of road safety regulations is making autonomous vehicle manufacturers
develop technology that can be integrated with smartphones. Also, the recent
technological advancements in machine learning, artificial intelligence, and
the up gradation of sensors like RADAR, GPS, and others are improving the
performance of autonomous vehicles. The technological advancements and launch
of better-performing vehicles in the market are expected to fuel the growth of
Saudi Arabia's autonomous vehicle market for the next five years.
Download Free Sample Report
Market Segmentation
The Saudi Arabia autonomous vehicle market
is segmented into vehicle type, level of autonomy, vehicle
autonomy, propulsion, regional distribution, and competitive landscape. Based on vehicle
type, the market is divided into passenger car and commercial vehicle. Based on
level of autonomy, the market is divided into L1, L2, L3, L4, L5. Based on vehicle
autonomy, the market is divided into semi-autonomous and fully autonomous.
Based on propulsion, the market is divided into ICE and electric. To
analyze the market based on the region, the Saudi Arabia autonomous vehicle market
is studied in major regions namely north & central region, southern region,
western region, and eastern region.
Market Players
Local Motors, General Motor Company, Ford
Motor Company, Nissan Motor Co., Ltd., Kia Corporation, are among the major
market players operating in the Saudi Arabia autonomous vehicle market.
|
Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historic Data
|
2018 –
2021
|
|
Estimated Year
|
2023
|
|
Forecast Period
|
2024
– 2028
|
|
Quantitative Units
|
Revenue in USD Million, Volume in Units, and CAGR for 2018-2022
and 2023-2028
|
|
Report coverage
|
Revenue
forecast, volume forecast, company share, competitive landscape, growth factors,
and trends
|
|
Segments covered
|
·
Vehicle Type
·
Level of Autonomy
·
Vehicle Autonomy
·
Propulsion
|
|
Regional scope
|
Northern
& Central, Southern, Eastern, Western
|
|
Key companies profiled
|
Local Motors, General Motor Company, Ford Motor Company, Nissan
Motor Co., Ltd., Kia Corporation
|
|
Customization scope
|
10%
free report customization with purchase. Addition or alteration to regional
& segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery Format
|
PDF and
Excel through Email (We can also provide the editable version of the report
in PPT/Word format on special request)
|
Report Scope:
In this report, Saudi Arabia autonomous
vehicle market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- Saudi Arabia Autonomous Vehicle Market,
By Vehicle Type:
- Passenger Car
- Commercial Vehicle
- Saudi Arabia Autonomous Vehicle Market, By Level of Autonomy:
- Saudi Arabia Autonomous Vehicle Market, By Vehicle Autonomy:
- Semi-Autonomous
- Fully Autonomous
- Saudi Arabia Autonomous Vehicle Market, By Propulsion:
- Saudi Arabia Autonomous
Vehicle Market, By Region:
- Northern & Central
- Southern
- Eastern
- Western
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Saudi Arabia autonomous vehicle market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
Saudi Arabia autonomous
vehicle market is an upcoming report to be released soon. If you wish an early
delivery of this report or want to confirm the date of release, please contact
us at [email protected]