Oct 13, 2022   SOURCE: BusinessWire

Saudi Arabia Autonomous Vehicle Market Analysis & Forecasts, 2017-2021 & 2022-2027 by Vehicle Type, Level of Autonomy, Vehicle Autonomy, Propulsion, Region - ResearchAndMarkets.com

The "Saudi Arabia Autonomous Vehicle Market By Vehicle Type, By Level of Autonomy, By Vehicle Autonomy, By Propulsion, By Region, Competition, Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.

Saudi Arabia autonomous vehicle market is anticipated to witness impressive growth during the forecast period, 2023-2027

Factors such as the rise in passenger and automobile safety and the growing integration of autonomous technologies to improve the performance of vehicles drive the demand for Saudi Arabia autonomous vehicle market.

Favorable government policies for the automotive industry and the high-end investments by the market players for research and development activities to upgrade the existing infrastructure are expected to influence the market demand. Road safety has been included as one of the National Transformation Program's pillars by the Kingdom of Saudi Arabia in an effort to meet the goals established by Saudi Vision 2030.

Leading authorities aim to reduce car accidents to lower fatalities. The introduction of autonomous vehicles is anticipated to enhance passenger and road safety. Autonomous technology offers numerous benefits, including reduced fuel use, improved passenger safety, and reduced traffic congestion.

Different sensors are integrated into autonomous vehicles to produce real-time data and aid passengers in making informed decisions. A traffic management system powered by artificial intelligence that communicates with the sensors on autonomous vehicles and can improve traffic signals by forecasting merging and slowdowns.

Road safety greatly increases as a result of fewer lane changes and orderly traffic. Increased emphasis on traffic safety and enhanced security in automobiles is expected to fuel the Saudi Arabian autonomous vehicle market in the coming years.

Passenger cars dominate the market and are expected to maintain their dominance over the next five years. The demand for passenger automobiles is primarily driven by rising living standards, growing urbanization, high per capita income, and the shift in consumer preference toward private vehicle ownership.

To increase driver and passenger safety, the government is supporting the incorporation of cutting-edge technologies into autonomous vehicles, which is anticipated to increase demand for passenger automobiles nationwide.

The major market players operating in the Saudi Arabia autonomous vehicle market are Local Motors, General Motor Company, Ford Motor Company, Nissan Motor Co., Ltd., and Kia Corporation.

Objective of the Study:

  • To analyze the historical growth in the market size of the Saudi Arabia autonomous vehicle market from 2017 to 2021.
  • To estimate and forecast the market size of Saudi Arabia autonomous vehicle market from 2022 to 2027 and growth rate until 2027.
  • To classify and forecast the Saudi Arabia autonomous vehicle market based on vehicle type, level of autonomy, vehicle autonomy, propulsion, region, and company.
  • To identify the dominant region or segment in the Saudi Arabia autonomous vehicle market.
  • To identify drivers and challenges for the Saudi Arabia autonomous vehicle market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Saudi Arabia autonomous vehicle market.
  • To identify and analyze the profiles of leading players operating in the Saudi Arabia autonomous vehicle market.
  • To identify key sustainable strategies adopted by market players in Saudi Arabia autonomous vehicle market.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia autonomous vehicle market.

  • Local Motors
  • General Motor Company
  • Ford Motor Company
  • Nissan Motor Co., Ltd.
  • Kia Corporation

Report Scope:

Saudi Arabia Autonomous Vehicle Market, By Vehicle Type:

  • Passenger Car
  • Commercial Vehicle

Saudi Arabia Autonomous Vehicle Market, By Level of Autonomy:

  • L1
  • L2
  • L3
  • L4
  • L5

Saudi Arabia Autonomous Vehicle Market, By Vehicle Autonomy:

  • Semi-Autonomous
  • Fully Autonomous

Saudi Arabia Autonomous Vehicle Market, By Propulsion:

  • ICE
  • Electric

Saudi Arabia Autonomous Vehicle Market, By Region:

  • Northern & Central
  • Southern
  • Eastern
  • Western

Years considered for this report:

  • Historical Years: 2017-2020
  • Base Year: 2021
  • Estimated Year: 2022
  • Forecast Period: 2023-2027

For more information about this report visit https://www.researchandmarkets.com/r/9279no.