PUBLISHER: KBV Research | PRODUCT CODE: 1555913
PUBLISHER: KBV Research | PRODUCT CODE: 1555913
The Latin America, Middle East and Africa Autonomous Driving Software Market would witness market growth of 14.9% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Autonomous Driving Software Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $89.7 million by 2031. The Argentina market is showcasing a CAGR of 16.4% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 13.9% during (2024 - 2031).
This software market is experiencing several key trends that are shaping its future. Emerging markets are witnessing a rise in localized autonomous driving solutions tailored to specific regional needs and conditions. Companies are developing software that addresses unique road infrastructure, traffic patterns, and driving behaviors in these regions, ensuring better performance and acceptance. There is a growing trend towards making autonomous driving technology more affordable and accessible in emerging markets. This includes developing cost-effective sensor systems, computing platforms, and software solutions that cater to the price sensitivity of consumers and businesses in these regions.
In many emerging markets, autonomous driving technology is being integrated with existing ride-sharing platforms. This collaboration aims to provide affordable and efficient transportation options while reducing the reliance on traditional vehicle ownership and addressing last-mile connectivity challenges. Emerging markets are seeing the integration of autonomous driving software with local mobility ecosystems, such as motorcycle taxis and informal transit services. This integration helps streamline transportation options and improve overall efficiency in regions with limited traditional public transit.
The growing number of vehicles on Saudi Arabian roads creates a significant market for ADS technologies, as more vehicles provide greater opportunities for integrating advanced autonomous driving systems. As per the ITA, in 2020, Saudi Arabia constituted 35% of the vehicles sold in the MENA region and nearly 52% of the vehicles sold in the Gulf Cooperation Council (GCC). In 2020, 4,36,000 thousand vehicles were sold. The projected sales figure by 2025 is 5,43,000 units. With a large and varied vehicle industry, there is a need for ADS solutions tailored to different types of vehicles, including SUVs, luxury cars, and commercial vehicles. In addition, the surge in vehicle sales drives demand for innovative ADS technologies to differentiate vehicles in a competitive market, prompting rapid development and deployment of advanced autonomous systems. Increased vehicle sales create a larger customer base interested in adopting new technologies, encouraging manufacturers to prioritize integrating ADS features. Therefore, rising Autonomous vehicle initiatives and high vehicle sales in the region are driving the market's growth.
Based on Propulsion, the market is segmented into ICE and Electric Vehicles. Based on Level of Autonomy, the market is segmented into L2, L1, L3, and L4 & L5. Based on Vehicle Type, the market is segmented into Passenger Vehicles and Commercial Vehicles. Based on Type, the market is segmented into Perception & Planning Software, Chauffeur Software, Interior Sensing Software, and Supervision & Monitoring Software. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
List of Key Companies Profiled
LAMEA Autonomous Driving Software Market Report Segmentation
By Propulsion
By Level of Autonomy
By Vehicle Type
By Type
By Country