Global Semi-autonomous Vehicles Market

Posted by occams on May 3rd, 2018

Global Semi-autonomous Vehicles Market: Occam's provides holistic view on Global Semi-autonomous Vehicles Market with key insights on quality and in-dept analysis report from expertise.

http://www.occamsresearch.com/semi-autonomous-vehicles-market/

Semi-autonomous vehicles are operated on automated technology. These vehicles works with the conjunction of human guidance along with the assistance of sensors and advance technology. Semi-autonomous vehicles technology is majorly operated on autopilot software and also includes Artificial Intelligence (AI), camera, LiDAR, radar and ultrasonic sensor. These advances systems in semi-autonomous vehicles interpret information by using sensors to find the appropriate path thus, the vehicle stays away from any obstacles. Global semi-autonomous vehicles market is expected to grow at a lucrative CAGR of 19% during the forecast period 2016-2023. The key factors surging the global semi-autonomous vehicles market includes increasing demand for advanced automobiles, need for safe, productive and efficient driving option. Further, cyber security and safety concerns, non-availability of required infrastructure in developing countries are some of the factors restricting growth of global semi-autonomous vehicles market. Apart from this, the market is gaining opportunities in emerging fields such as autonomous cars as a mobility service and robotic assistance.

The major factor escalating the global semi-autonomous vehicle market is the need for safe, productive and efficient driving option. Rising road accidents globally is the major factor enhancing the need for safer road vehicles. According to International Organization for Road Accident Prevention, above 90% road accidents are caused mainly due to human errors. According to the statics published by National Highway Traffic Safety Association, the use of driverless vehicles could save the life of more than 69 people every year in US. Hence, the adoption of semi-autonomous vehicles across the globe is expected in lead to decrease number of accidents globally, thereby increasing the road safety.