South Korea Self-driving Car Technology Market was valued at USD 2 Billion in 2022 and is projected to reach USD 9 Billion by 2030, growing at a CAGR of 18% from 2024 to 2030.
The South Korea self-driving car technology market is rapidly evolving, with the nation's advanced infrastructure and strong emphasis on innovation driving growth in autonomous vehicle (AV) development. As South Korea is at the forefront of technological advancements, the self-driving car market is attracting significant attention from both local and international companies. With a variety of industries pushing for automation, the demand for self-driving technology is expected to soar in the coming years.
South Korea’s government has been proactive in creating a favorable environment for the adoption of self-driving cars. With its ambitious "smart city" initiatives, the country aims to integrate autonomous vehicles into public transportation systems, logistics, and urban mobility solutions. By 2025, it's predicted that a significant percentage of vehicles on the road will be autonomous, marking a shift towards a more sustainable and technologically advanced transportation system.
The self-driving car technology market in South Korea is particularly shaped by the automotive industry’s need for innovation. Leading automotive giants like Hyundai and Kia are focusing heavily on autonomous driving technology, making substantial investments in research and development. These companies are building their own AV systems, while also collaborating with tech companies to integrate artificial intelligence (AI) and machine learning into vehicles for better decision-making and driving capabilities.
Industries such as logistics, transportation, and ride-sharing are also capitalizing on self-driving technology. Self-driving trucks for cargo transport can reduce human error and operating costs, while autonomous taxis offer a potential solution to driver shortages in the public transportation sector. Furthermore, data collected by self-driving vehicles is enhancing route optimization, real-time traffic management, and reducing congestion in urban environments.
The adoption of self-driving cars in South Korea requires meeting several critical infrastructure and regulatory requirements. High-quality road sensors, 5G connectivity for real-time data exchange, and robust cybersecurity measures are just a few of the technologies required for successful integration. The government has rolled out testing programs in select areas to ensure that autonomous vehicles are safe for public roads, while also setting up regulations for AV testing and deployment.
As the self-driving car technology market in South Korea expands, industries are aligning their strategies to leverage automation for better efficiency, safety, and sustainability. The next few years will be crucial for both manufacturers and regulators to develop frameworks that support the transition towards autonomous vehicles on a larger scale.
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Toyota
BMW
Volvo
Mercedes-Benz
Nissan
Bosch
Magna Electronics
Denso
Honda Motor
Audi
ZF Friedrichshafen
Bber
Mitsubishi
Hitachi
Panasonic
Baidu
BYD
Volkswagen
IBM
Continental Teves
Aisin Seiki
Hyundai
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Self-driving Car Technology Market
Passenger Cars
Commercial Vehicles
Level 1 (Driver Assistance)
Level 2 (Partial Automation)
Level 3 (Conditional Automation)
Level 4 (High Automation)
Level 5 (Full Automation)
Lidar
Radar
Camera
Ultrasonic Sensors
Hardware
Software
Control Systems
Autonomous Taxi
Shuttle Services
Autonomous Freight Transport
Private Autonomous Vehicles
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Self-driving Car Technology Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Self-driving Car Technology Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Self-driving Car Technology Market, By Type
6. South Korea Self-driving Car Technology Market, By Application
7. South Korea Self-driving Car Technology Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Self-driving Car Technology Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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