Source: Data Bridge Market Research announcement
BERLIN – Data Bridge Market Research estimates the semi-autonomous and autonomous vehicle (AV) market was valued at $2.056 billion in 2022 and is expected to reach $2.77 billion by 2030, registering a compound-annual-growth rate (CAGR) of 3.8 percent.
These figures are presented in the organization’s recently published Semi-Autonomous and Autonomous Vehicle Market report.
Key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive environment are all dissected in detail in the research.
For the growth of the business, the Semi-Autonomous and Autonomous Vehicle Market research report has a lot to offer and hence it plays a very important role in growth. It describes a thorough study of the current situation of the global market along with several market dynamics.
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Semi-autonomous and AVs are those vehicles that can decelerate and accelerate and can stop without any human interference. Semi-autonomous and autonomous vehicles may be capable to park themselves and may be capable to keep in lane without any human intervention, but they are not self-driving. In most cases, in these vehicles, drivers must always keep their hands on the wheel.
The increasing need for more efficient and safer driving systems promotes the growth of semi-autonomous and autonomous vehicles. Numerous technological advancements have aided in fostering a favorable market growth environment. Wireless Local Area Networks (WLAN), GPS, 5G delivery model, and vehicle-to-vehicle technology have improved the driving experience. Also, numerous regional governments have placed stringent laws regarding driving and safety further encouraging companies to offer advanced technologies in their automobiles.
For further information on the report, click HERE.