Authored By: Sarah
28 Jul 2023

Near Autonomous Passenger Car Market is a billion-dollar sector in making with forecasted revenue growth of USD 294.81 Bn 

The Global Near Autonomous Passenger Car Market Size is a billion-dollar sector in making with forecasted revenue growth of  USD 294.81 billion between 2022 and 2027 at a CAGR of 38.23%. The ballooning of the autonomous (driverless) car market comprises several factors such as the increasing popularity of semi-autonomous vehicles, the rising demand for autonomy of vehicles by OEMs, and the contribution of intelligent transport systems to the adoption of autonomous technology have contributed to this significant market expansion.

Technavio's research report captures the growth trajectory of the market and is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.

autonomous car passenger Near Autonomous Passenger Car Market at a Glance

Navigating through the Near Autonomous Passenger Car Market: It has been observed that automotive manufacturers are responding to the rising demand for comfort and convenience by integrating automation into vehicles resulting in the development of semi-autonomous vehicles; As a result, the increasing popularity of semi-autonomous vehicles is expected to have a positive impact on the growth of the global autonomous (driverless) car market. 

Market Trends: When it comes to market trends autonomous vehicle market growth is significantly influenced by the substantial investment and funding for research and development in this field. 

"As per data, In June 2021, General Motors Co. announced that it would invest USD 35 billion in EV and AV technology from 2020 to 2025."

Key Companies: Inc., Chery Automobile Co. Ltd., Chongqing Changan Automobile Co. Ltd., Ford Motor Co., Geely Auto Group, Honda Motor Co. Ltd., Hyundai Motor Co., Mazda Motor Corp., Mercedes Benz Group AG, NIO Ltd., Nissan Motor Co. Ltd., etc are some of the major market leaders in  Near Autonomous Passenger Car Market. 

For example, Bayerische Motoren Werke AG - The company offers an HD map for autonomous vehicles such as Here HD live map. Our report includes qualitative and quantitative analyses of vendors with a wider understanding of the business ecosystem. Order a free sample report today.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerating at a CAGR of 38.23%.

  2. What is the incremental growth of the market?
    The market is expected to grow by USD 294.81 Bn through 2023-2027.

  3. What is a key factor driving this market?
    The increasing popularity of semi-autonomous vehicles will drive market growth over the forecast period.

  4. What are the key regions covered in this market research report?
    North America, Europe, APAC, South America, and Middle East, and Africa are the key regions featured in this research report.

  5. Which is the leading geographic region for this market:
    38% growth will originate from North America.

  6. What are the market segments covered in this report?
    The market is segmented by Technology (ADAS level 1 and ADAS level 2) and Geography (North America, Europe, APAC, South America, and Middle East and Africa)
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