The global semi-autonomous vehicle market size was US$ 18.1 billion in 2021. The global semi-autonomous vehicle market is forecast to grow to US$ 23.2 billion by 2030, registering a compound annual growth rate (CAGR) of 15.5% during the forecast period from 2022 to 2030. 

Regional Analysis 

North America is forecast to hold the highest share in the global semi-autonomous vehicle market in terms of volume. This is attributed to the rising penetration of advanced technologies like Machine Learning (ML) and the Internet of Things (IoT). In addition, the region is home to several prominent IoT providers, such as IBM Corporation, Google, Inc., Cisco Systems Inc., etc. In addition, favorable government regulations and growing demand for safer and fuel-efficient vehicles will drive the growth of the market during the forecast period. 

The semi-autonomous vehicle market in Asia-Pacific will hold the highest share due to the presence of growing AI hubs in India, China, Japan, and Singapore. As a result, it will help automotive companies gain access to AI programs specifically designed for automotive.

COVID-19 Impact Analysis

During the COVID-19 pandemic, the demand for automotive reduced drastically. COVID-19 has had a significant impact on employment, thereby forcing people to avoid purchasing luxury products for a particular time. Thus, it impacted the overall semi-autonomous vehicle market during the study period. 

Factors Influencing the Market

The growing demand for connected vehicle technology is forecast to fuel the growth of the semi-autonomous vehicle market. In addition, rising demand for safe, secure, and efficient driving options will boost the growth of the global semi-autonomous vehicle market during the forecast period. 

Furthermore, the growing advancements in in-vehicle technologies and sensors will benefit the global semi-autonomous vehicle market. 

Artificial Intelligence (AI) offers promising growth opportunities for the semi-autonomous vehicles market due to its adoption for a wide range of applications. The growing applications of Artificial Intelligence (AI) will be beneficial or the semi-autonomous vehicle industry, 

The growing number of companies engaging in M&A activities to fuel their revenue growth is forecast to benefit the market. In 2019, Continental Ag purchased Rosenheim-based antenna and Kathrein Automotive GmbH, a satellite technology manufacturer. In addition, the rising number of R&D activities to offer advanced automotive technology will benefit the global semi-autonomous vehicle market. BMW AG inaugurated a new R&D center in 2020 with FIZ Projekthaus Nord. This plan intends to increase the company’s R&D network for the future. 

Strict regulations related to semi-autonomous vehicles may hamper the market growth. 

Market Segmentation

The global semi-autonomous vehicle market segmentation focuses on Type, Application, and Region. 

By Type 

• Citrus
• Lavender
• Rosemary
• tea tree
• Peppermint
• Citronella
• Others

By Application

• Aromatherapy
• Cosmetics and Personal Care
• Food & Beverages
• Home Care Products
• Other Industrial Use

By Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America

Competitors in the Market

• Audi AG
• BMW AG
• Continental AG
• Daimler AG (Mercedes Benz)
• Ford Motor Company
• General Motors
• Honda Motor Corporation
• Nissan Motor Company
• Toyota Motor Corporation
• Volvo Car Corporation
• Valeo S.A.
• Volkswagen AG
• Other prominent players