Dublin, Jan. 06, 2025 (GLOBE NEWSWIRE) — The “Asia-Pacific Semi & Fully Autonomous Vehicle Market, By Country, Competition, Forecast & Opportunities, 2019-2029F” report has been added to ResearchAndMarkets.com’s offering.
The Asia-Pacific Semi & Fully Autonomous Vehicle Market was valued at USD 14.86 Billion in 2023, and is expected to reach USD 27.59 Billion by 2029, rising at a CAGR of 10.87%.
The Asia-Pacific semi and fully autonomous vehicle market is driven by innovations in AI, machine learning, and sensor technologies, enhancing vehicle functions and safety. Growing demand for advanced safety features, reduced human error, and better driving experiences accelerates the adoption of autonomous vehicles. Market trends include the rising use of AI-powered systems, like advanced driver assistance systems (ADAS), for more accurate navigation and vehicle control.
The increasing shift toward electric vehicles (EVs) and the creation of smart city infrastructure to support autonomous mobility are unlocking major prospects. Governments in the region are also providing incentives and frameworks to encourage autonomous vehicle adoption, boosting market expansion. However, challenges remain, including the high cost of development and manufacturing, regulatory complexities, and concerns regarding cybersecurity for connected vehicles. The slow pace of infrastructure progress to support autonomous vehicles remains a significant hurdle.
For instance, In 2024, BYD, a Chinese automaker, has unveiled a new hybrid powertrain that can travel over 2,000 kilometers without recharging or refueling, surpassing the capabilities of its rivals like Toyota and Volkswagen. This technology will be launched in two affordable sedans, showcasing BYD’s advancements in reducing fuel consumption and its dominance in the Chinese hybrid market. The company’s efforts to solve range anxiety and make vehicles more environmentally friendly align with the global industry trend.
Key Market Trends
Rapid Advancements in Autonomous Technology
The Asia-Pacific region is witnessing rapid advancements in autonomous vehicle technology. Companies, both domestic and international, are heavily investing in research and development to enhance the capabilities of autonomous vehicles. This includes improvements in sensor technologies, artificial intelligence, machine learning, and real-time data analysis. These advancements are paving the way for higher levels of autonomy, increased safety, and improved navigation in complex urban environments. As technology continues to evolve, Asia-Pacific countries are positioning themselves as leaders in autonomous vehicle innovation.
Diverse Range of Mobility Services
Beyond private ownership, the Asia-Pacific region is witnessing a proliferation of autonomous mobility services. Ride-hailing platforms, delivery services, and autonomous shuttles are becoming increasingly common. Companies like Didi Chuxing, Baidu, and Grab are testing and deploying autonomous ride-hailing services in select cities. Autonomous delivery vehicles are being used for last-mile logistics, providing convenient and efficient solutions for e-commerce companies. The rise of these diverse mobility services is transforming the transportation landscape in the region.
Urbanization and Smart Cities
The trend toward urbanization in Asia-Pacific is driving the development of smart cities and the adoption of autonomous vehicles. Many governments in the region are investing in smart infrastructure and transportation systems to improve urban mobility. Autonomous vehicles are seen as a key component of these smart city initiatives. They have the potential to reduce traffic congestion, enhance transportation efficiency, and improve overall quality of life in densely populated urban areas. As Asia-Pacific cities continue to grow, the integration of autonomous vehicles into smart city ecosystems is expected to accelerate.
Collaborations and Partnerships
Collaboration and partnerships between automotive manufacturers, technology companies, and governments are becoming increasingly common in the Asia-Pacific autonomous vehicle market. Automotive giants like Toyota, Honda, and Hyundai are partnering with technology companies to leverage their expertise in autonomous technology. Governments are also collaborating with private sector stakeholders to create testing environments and regulatory frameworks that support autonomous vehicle development and deployment. These partnerships are critical for pooling resources, knowledge, and expertise to accelerate the growth of the autonomous vehicle market.
Focus on Electric and Hybrid Autonomous Vehicles
The Asia-Pacific region is showing a strong focus on electric and hybrid autonomous vehicles as part of broader sustainability efforts. Electric autonomous vehicles are seen as a way to reduce emissions and combat air pollution in densely populated cities. Countries like China, Japan, and South Korea are promoting electric and hybrid vehicle adoption through incentives, charging infrastructure development, and regulatory measures. As a result, many autonomous vehicle projects in the region are incorporating electric or hybrid propulsion systems to align with environmental goals.
AI-Powered Autonomous Features in Conventional Vehicles
Another notable trend is the integration of AI-powered autonomous features into conventional vehicles. This includes advanced driver-assistance systems (ADAS) that offer features such as adaptive cruise control, lane-keeping assistance, and automated parking. These features are increasingly common in new vehicles and serve as stepping stones toward fully autonomous driving. Consumers are showing a growing interest in vehicles equipped with ADAS, which provide enhanced safety and convenience. The adoption of these features is expected to continue as automakers prioritize safety and autonomy.
Country Insight
China dominated the Asia-Pacific semi- and fully autonomous vehicle market due to its rapid advancements in automotive technology, robust industrial ecosystem, and supportive government policies. The nation leads in the adoption and development of autonomous driving technologies, driven by a combination of extensive R&D investments, strategic partnerships, and a strong push for innovation from both private companies and public institutions.
China’s extensive automotive manufacturing base, combined with its expertise in electronics and software development, enables cost-effective production and integration of autonomous driving components such as sensors, cameras, and AI processors. This manufacturing strength is complemented by the country’s leadership in 5G technology, which is critical for enabling vehicle-to-everything (V2X) communication – a key feature of semi- and fully autonomous systems.
The government plays a pivotal role in fostering the autonomous vehicle ecosystem by introducing favorable policies, funding pilot projects, and establishing testing zones in cities like Beijing, Shanghai, and Shenzhen. These initiatives accelerate technology validation and commercialization. Consumer demand for advanced driver-assistance systems (ADAS) and intelligent vehicles in China is on the rise, fueled by increasing disposable incomes and a preference for technology-driven features.
China’s urban planning and infrastructure development also support autonomous vehicle deployment, with smart cities and dedicated testing environments facilitating seamless integration. In conclusion, China’s dominance stems from its technological expertise, manufacturing capabilities, supportive policies, and a forward-thinking approach, positioning it as a leader in the Asia-Pacific semi- and fully autonomous vehicle market.
Key Market Players
- Hyundai Motor Company
- Daimler Truck
- SAIC Motor Corporation
- Toyota Motor Corporation
- Nissan Motor Corporation
- AB Volvo
- General Motors Company
- Volkswagen
- Tesla
- BMW
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2023 – 2029 |
| Estimated Market Value (USD) in 2023 | $14.86 Billion |
| Forecasted Market Value (USD) by 2029 | $27.59 Billion |
| Compound Annual Growth Rate | 10.8% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Countries
3.4. Key Segments
4. Impact of COVID-19 on Asia-Pacific Semi & Fully Autonomous Vehicle Market
5. Asia-Pacific Semi & Fully Autonomous Vehicle Market Outlook
5.1. Market Size & Forecast
5.2. Market Share & Forecast
5.2.1. By Automation Level Market Share Analysis (L0, L1, L2, L3, L4, L5)
5.2.2. By Component Market Share Analysis (Embedded System, Camera, Others)
5.2.3. By Vehicle Type Market Share Analysis (Passenger Car, Commercial Vehicle)
5.2.4. By Country Market Share Analysis
5.2.4.1. India Market Share Analysis
5.2.4.2. China Market Share Analysis
5.2.4.3. Japan Market Share Analysis
5.2.4.4. Thailand Market Share Analysis
5.2.4.5. Indonesia Market Share Analysis
5.2.4.6. South Korea Market Share Analysis
5.2.4.7. Australia Market Share Analysis
5.2.5. By Top 5 Companies Market Share Analysis, Others (2023)
5.3. Asia-Pacific Semi & Fully Autonomous Vehicle Market Mapping & Opportunity Assessment
5.3.1. By Component Market Mapping & Opportunity Assessment
5.3.2. By Automation Level Market Mapping & Opportunity Assessment
5.3.3. By Vehicle Type Market Mapping & Opportunity Assessment
5.3.4. By Country Market Mapping & Opportunity Assessment
6. India Semi & Fully Autonomous Vehicle Market Outlook
6.1. Market Size & Forecast
6.2. Market Share & Forecast
7. China Semi & Fully Autonomous Vehicle Market Outlook
7.1. Market Size & Forecast
7.2. Market Share & Forecast
8. Japan Semi & Fully Autonomous Vehicle Market Outlook
8.1. Market Size & Forecast
8.2. Market Share & Forecast
9. Thailand Semi & Fully Autonomous Vehicle Market Outlook
9.1. Market Size & Forecast
9.2. Market Share & Forecast
10. Indonesia Semi & Fully Autonomous Vehicle Market Outlook
10.1. Market Size & Forecast
10.2. Market Share & Forecast
11. South Korea Semi & Fully Autonomous Vehicle Market Outlook
11.1. Market Size & Forecast
11.2. Market Share & Forecast
12. Australia Semi & Fully Autonomous Vehicle Market Outlook
12.1. Market Size & Forecast
12.2. Market Share & Forecast
13. Market Dynamics
13.1. Drivers
13.2. Challenges
14. Market Trends & Developments
15. Competitive Landscape
- Hyundai Motor Company
- Daimler Truck AG
- SAIC Motor Corporation Limited
- Toyota Motor Corporation
- Nissan Motor Corporation
- AB Volvo
- General Motors Company
- Volkswagen AG
- Tesla Inc.
- BMW AG
16. Strategic Recommendations/Action Plan
16.1. Key Focus Areas
16.1.1. Target Component
16.1.2. Target Automation Level
For more information about this report visit https://www.researchandmarkets.com/r/77atey
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- Asia-Pacific Semi & Fully Autonomous Vehicle Market
