Press Release

Saudi Arabia Autonomous Vehicle Market to be dominated by Passenger Car through 2027

Increased demand for connected vehicles and ongoing digital transformation is expected to drive the demand for Saudi Arabia autonomous vehicle market in the forecast period, 2023-2027.

According to TechSci Research report, Saudi Arabia Autonomous Vehicle Market By Region, Competition Forecast & Opportunities, 2027, the Saudi Arabia autonomous vehicle market is expected to witness an impressive CAGR in the forecast period, 2023-2027.  An autonomous vehicle, also known as a driverless vehicle, can drive on its own and perform necessary functions without human intervention owing to its ability to sense its surroundings.  The autonomous vehicle uses advanced technologies like radio detection and ranging (RADAR), artificial intelligence software, cameras, and light detection & ranging (LiDAR) to sense the environment and navigate easily without any interruption.  The systems integrated into autonomous vehicles create and maintain an active 3 D map of their surroundings by using a wide variety of sensors.  Autonomous vehicles present in the market have different levels of autonomy, such as semi-autonomous and fully autonomous, which can be chosen according to needs and requirements.  The autonomous vehicle offers several advantages over conventional vehicles, including higher fuel efficiency, improved road safety, and lower traffic congestion and emissions, making them environmentally friendly.  Increased production and sales of automobiles and growing

However, issues relating to better data management and the high manufacturing cost may restrain Saudi Arabia autonomous vehicle market growth for the next five years.

Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on "Saudi Arabia Autonomous Vehicle Market"

https://www.techsciresearch.com/report/saudi-arabia-autonomous-vehicle-market/9440.html


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. The passenger car segment is expected to capture the highest market share in the next five years. Improved living standards, rapid urbanization, high per capita income, and the shift in consumers' preference for private vehicle ownership are primarily driving the demand for passenger cars. The government is promoting the integration of advanced technologies in autonomous vehicles to improve vehicle and passenger safety while driving, which is expected to boost the demand for passenger cars across the country.

Based on the level of autonomy, the market is divided into L1, L2, L3, L4, and L5. The level 3 segment dominates the market and is expected to maintain its dominance for the next five years. It provides partial automation in which the vehicle can perform steering and acceleration by itself while the human monitors the tasks and can take control of the vehicle.

Based on vehicle autonomy, the market is divided into semi-autonomous and fully autonomous. Semi-autonomous vehicles are expected to hold a significant market share in the forecast period. According to the Society of Automotive Engineers International Automated Driving Standards, autonomous vehicles with levels 1 to 3 are considered semi-autonomous vehicles. Semi-autonomous vehicles support more efficient and safer driving systems. Also, the implementation of stringent road safety laws is compelling automobile manufacturers to adopt autonomous technologies in their automobiles.

Based on propulsion, the market is divided into ICE and electric. The electric propulsion type is expected to witness the fastest incremental growth in the forecast period due to the rise in environmental concerns and the need to reduce the burden on conventional energy sources. The government is allocating huge funds and launching supportive policies to promote the adoption of electric vehicles among consumers. Also, the market players are introducing electric versions of autonomous vehicles and are integrating advanced technologies to provide greater comfort and convenience to passengers while driving the automobile.


Major market players operating in Saudi Arabia autonomous vehicle market are:

·         Local Motors

·         General Motor Company

·         Ford Motor Company

·         Nissan Motor Co., Ltd.

·         Kia Corporation          


Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=9440

Customers can also request for 10% free customization on this report.

“Saudi Arabia has allocated funds worth $500bn to invest in the development of Neom city, a smart city where the residents would use the autonomous vehicle for daily commuting purposes. The government is working on building smart cities that won’t have any cars or roads and would be known as “The Line” and will form a part of the smart city. NEOM city aims to support “ultra-high-speed transit” by using autonomous vehicles to provide world-class facilities to its citizens. The ongoing developments in Saudi Arabia to improve the existing transportation infrastructure and allocation of massive funds for the adoption of advanced technologies by market players and leading authorities are expected to propel the Saudi Arabia autonomous vehicle market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.


Saudi Arabia Autonomous Vehicle Market By Vehicle Type (Passenger Car, Commercial Vehicle), By Level of Autonomy (L1, L2, L3, L4, L5), By Vehicle Autonomy (Semi-Autonomous, Fully Autonomous), By Propulsion (ICE, Electric), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of Saudi Arabia autonomous vehicle market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia autonomous vehicle market.

 

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

 

Email: [email protected]

 

Web:  https://www.techsciresearch.com

Relevant Reports

Saudi Arabia Autonomous Vehicle Market By Vehicle Type (Passenger Car, Commercial Vehicle), By Level of Autonomy (L1, L2, L3, L4, L5), By Vehicle Autonomy (Semi-Autonomous, Fully Autonomous), By Propulsion (ICE, Electric), By Region, Competition Forecast & Opportunities, 2028

Automotive | Dec, 2022

Ongoing technological advancements and the development of digital infrastructure are expected to drive the demand for Saudi Arabia autonomous vehicle market in the forecast period, 2024-2028.

Relevant News