South Korea Autonomous Vehicle Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 32.70% (2024-2032)
South Korea is rapidly advancing in autonomous mobility, driven by cutting-edge technology, strong government support, and a thriving automotive industry. According to the latest report by IMARC Group, the South Korea autonomous vehicle market size reached USD 1.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 14.5 Billion by 2032, exhibiting a growth rate (CAGR) of 32.70% during 2024-2032.
Download sample copy of the Report: https://www.imarcgroup.com/south-korea-autonomous-vehicle-market/requestsample
South Korea Autonomous Vehicle Industry Trends and Drivers:
The South Korea autonomous vehicle market is expanding rapidly, owing to several key factors. Primarily, the market is driven by government assistance for smart mobility solutions as well as improvements in vehicle technologies. Besides this, the nation is leading the way in 5G and AI technology, and its thriving automotive sector is spurring innovation in autonomous car systems. Key players are investing heavily in research and development to achieve higher levels of vehicle autonomy, focusing on safety, efficiency, and user convenience. Additionally, government initiatives such as the "K-City" testing facility for autonomous vehicles and subsidies for research are creating a favorable environment for the growth of the South Korea autonomous vehicle market. In line with these factors, the increasing adoption of electric vehicles (EVs) and smart infrastructure is further complementing the autonomous vehicle ecosystem.
A significant trend in the South Korea autonomous vehicle market is the growing emphasis on collaboration between automakers, technology companies, and mobility service providers. Moreover, partnerships are enabling the integration of advanced features like LiDAR, machine learning, and real-time navigation systems. In addition to these factors, the rise of Mobility-as-a-Service (MaaS) models is also shaping the market, with autonomous shuttles and taxis gaining traction in urban areas. Furthermore, regulatory frameworks are evolving to support safe deployment and commercialization, ensuring consumer confidence in autonomous technologies. These factors, along with advancements in connected vehicle ecosystems and smart city developments, are anticipated to accelerate the growth of the South Korea autonomous vehicle market over the forecasted period.
South Korea Autonomous Vehicle Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest South Korea autonomous vehicle market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
The report has segmented the market into the following categories:
Component Insights:
- Hardware
- Software and Services
Level of Automation Insights:
- Level 3
- Level 4
- Level 5
Application Insights:
- Transportation and Logistics
- Military and Defense
Regional Insights:
- Seoul Capital Area
- Yeongnam (Southeastern Region)
- Honam (Southwestern Region)
- Hoseo (Central Region)
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current, and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145