South Korea Autonomous Vehicles Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

South Korea Autonomous Vehicles Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis


South Korea Autonomous Vehicles Market size is projected to reach around US$ 3,159.87 Million by 2030, according to Renub Research. South Korea excels in the global autonomous vehicle market due to ambitious government initiatives and a thriving tech atmosphere. Hyundai Motor Group leads the nation's enterprise with ground-breaking automobiles like the Hyundai MobisM. Vision concept car and the Hyundai Ioniq 5 robotaxi KT Corporation focuses on 5G tech for self-riding automobiles and companions with Hyundai. Naver, a web giant, introduces the Naver Clover self-driving automobile simultaneously as Seoul Robotics gives lidar sensors to Hyundai, Naver, and other self-sufficient car corporations. The South Korean government actively helps the arena, aiming for 30% autonomous vehicle adoption by 2030, launching Seoul pilot software, and growing business deployment rules. South Korea's conducive surroundings and dynamic industry ensure its leadership in the global autonomous vehicle market.

The Republic of Korea is the world's seventh-largest producer of automobiles. South Korea will set up safety standards and an insurance system for the launch of Level 4 autonomous vehicles in the country by 2024, according to the transport ministry. Uber plans to operate the Level 4 IONIQ 5 robo taxis for car-hailing and delivery services in the United States for the next ten years and explore opportunities to advance to other markets with robot taxis.

South Korea Autonomous Vehicles Market size is predicted to sign in a CAGR of 21.66% from 2023 to 2030

In South Korea, autonomous cars have emerged as a big factor in the modern-day mobility landscape, representing a transformative technique to managing demanding conditions associated with avenue safety, town traffic congestion, and environmental pollutants. South Korea, with its present-day technology sector, stands at the main fringe of self-sustaining automobile development, instilling self-belief within the skills of autonomous cars. The South Korean authorities have played a pivotal function via enacting supportive guidelines and suggestions that inspire the testing and commercialization of self-reliant cars.

Moreover, South Korea, grappling with an ageing populace, is witnessing a rising name for strong and user-friendly transportation solutions. Autonomous cars have turn out to be a promising opportunity for this need, offering stepped-forward accessibility and comfort. Also, the surging value of fuel has amplified the appeal of self-driving automobiles, recognized for their advanced fuel efficiency, providing a direction to curtail transportation costs. Furthermore, the growing preference for transportation in South Korea, fueled by ecomomic growth and urbanization, necessitates environment solutions. Autonomous cars are best to cope with this demand, presenting a more convenient and powerful mode of transportation that aligns with the evolving requirements of the South Korea.

Besides, South Korea, famed for its sturdy technology segment, has substantially invested in autonomous vehicle studies and development. Domestic tech giants are at the leading edge of autonomous riding technology, spurring hobby, and self-belief in self-using cars with their improvements. In addition to private vehicles companies’ initiatives, the South Korean government have proactively sponsored the development and deployment of self-reliant vehicles by introducing regulations and hints designed to foster fine environment for testing and commercialization, positioning the country as a massive player within the international autonomous car marketplace. Hence, South Korea Autonomous Vehicles Market size is worth US$ 800.84 Million in 2023.

L2, or Level 2 automation, commands the highest share in the South Korean autonomous vehicles market

By level of driving, the South Korea autonomous vehicles market size is segmented into L1, L2, L3, L4, and L5. Level 2 automation or L2, dominates the South Korean autonomous vehicles market size, normally because of its vast improvements in safety functions. These systems include advanced drive-assistance technologies like adaptive cruise management and lane-keeping help, making them more low-cost and reachable to a wider range of consumers. This level of automation complements protection, reduces driving fatigue, and represents a stepping stone toward complete autonomy. Also, regulatory help and industry investment in L2 technologies have played a pivotal role in its market dominance, making it the preferred choice for customers and manufacturers in South Korea.

Hardware retains the highest share in the South Korea autonomous vehicles market

By technology, the South Korea autonomous car market is divided into Hardware and Software. The South Korea autonomous vehicles market keeps hardware supremacy because of its crucial function in self-sufficient car improvement. Hardware components embody sensors, processors, cameras, and communication systems critical for perception and decision-making, ensuring protection and overall performance. The commitment of important companies in hardware research and development further solidifies its dominance, making hardware the cornerstone of autonomous generation and reinforcing South Korea's management of this burgeoning industry.

Electronics and architecture are poised for the fastest growth in the South Korean autonomous vehicles market

By hardware technology, the South Korea autonomous car market size is fragmented into Passive Components, Embedded Modems, Ultrasonic Sensors, Odometry Sensors, Other Electronics and architecture, Actuators, HMI Hardware, Mapping Hardware, Embedded Controls Hardware, Radar, Cameras, V2X Hardware, and Lidar. Due to their pivotal role as the backbone of autonomous structures, superior technology, such as software, connectivity solutions, and vehicle structure, are poised for the fastest growth in the South Korea autonomous vehicle market. As automobiles become increasingly sophisticated, software is pivotal in decision-making, connectivity, and real-time records processing. South Korea's prowess in electronics and software program improvement, coupled with the demand for current vehicle architectures, positions these segments for rapid enlargement. Moreover, the convergence of artificial intelligence, cybersecurity, and network infrastructure in autonomous cars further fuels the increase of other electronics and architecture, making them imperative to South Korea's management of autonomous technology.

V2X (Vehicle-to-Everything) software is set to dominate the forecast period in the South Korea autonomous vehicles market

By software component, the South Korea automobile car market is broken up into HMI Software, Data Security Software, Mapping Software, Embedded Controls Software, and V2X Software. V2X (Vehicle-to-Everything) software is primed to steer in the South Korea autonomous cars market size, enhancing protection and performance through real-time communication with the surroundings. The call for seamless, consistent connectivity within the dynamic, autonomous vehicles market is important, supported by South Korea's advanced telecom infrastructure and 5G recognition. V2X's position in permitting automobile-to-vehicle and automobile-to-infrastructure communication pivotal for safe, efficient and self-reliant transportation, solidifying South Korea’s dominance in the global autonomous vehicles market.

Passenger vehicles are estimated to lead in the South Korea autonomous vehicles market

By vehicle kind, the South Korean autonomous vehicles market is segmented into Commercial vehicles and Passenger vehicles. Passenger cars are poised to lead in the South Korea autonomous car market size. With a developing emphasis on improving city mobility and addressing visitor congestion, those motors provide realistic solutions for day-by-day commuters. They also gain from non-stop studies and development efforts to ensure passenger protection and comfort, making them frontrunners in shaping the future of self-sufficient automobiles in South Korea, particularly within the state's focus on smart city initiatives and infrastructure development.

Civil applications are the fastest-growing segment in the South Korea autonomous vehicles market

By application, the South Korea autonomous vehicle market is divided into Civil, Defense, Transportation & Logistics, and Construction. Civil application is the fastest-growing sector in the South Korea automobile car market size. The surge in the need for self-sufficient automobiles in public transportation, delivery services and logistics, and efficient and sustainable city mobility is a major motive. This trend is bolstered by South Korea's commitment to smart city tasks and eco-friendly transportation solutions. Civil applications embody many use cases, from self-sufficient shuttles to transport robots and smart logistics solutions, rendering them adaptable to numerous city situations. The strong infrastructure, government backing, and technological innovation in South Korea, in addition, boost the fast growth of civil self-sufficient applications, addressing vital challenges in current city environments.

In the South Korea autonomous vehicle market, battery electric vehicles, or BEVs, are the fastest-growing segment

By propulsion, the South Korea autonomous vehicle market is divided into Battery Electric Vehicle, Fuel Cell Electric Vehicles, Hybrid Electric Vehicle, Internal Combustion Engine, and Plug-in Hybrid Electric Vehicles. Battery electric-powered cars (BEVs) take the lead because they are the fastest-growing section in the South Korea autonomous car market size. South Korea's proactive stance in promoting electric-powered mobility, using incentives and infrastructure development, positions BEVs as the natural desire for autonomous packages.

Furthermore, BEVs resonate with the worldwide shift towards sustainability and reduced emissions, aligning with the eco-conscious customer base in South Korea. Advancements in the battery technology and charging infrastructure support BEVs' boom. Their silent, clean, and efficient operation complements autonomous vehicles, making BEVs the frontrunners in reshaping South Korea's urban and intercity transportation panorama.

Key Players

Hyundai Motor Company, GM Korea Company, Renault Samsung Motors, and KG Mobility Corporation are the major companies in the South Korea autonomous vehicles market.

Renub Research report titled ""South Korea Autonomous Vehicles Market Forecast By Level of Driving (L1, L2, L3, L4, and L5), Technology (Hardware and Software), Hardware (Passive Components, Embedded Modems, Ultrasonic Sensors, Odometry Sensors, Other Electronics and architecture, Actuators, HMI Hardware, Mapping Hardware, Embedded Controls Hardware, V2X Hardware, Cameras, Radar, and Lidar), Software component (HMI Software, Data Security Software, Mapping Software, Embedded Controls Software, and V2X Software), Vehicle type (Commercial vehicles and Passenger vehicles), Application (Civil, Defense, Transportation & Logistics, and Construction), Propulsion (Battery Electric Vehicle, Fuel Cell Electric Vehicles, Hybrid Electric Vehicle, Internal Combustion Engine, and Plug-in Hybrid Electric Vehicle), Companies (Hyundai Motor Company, GM Korea Company, Renault Samsung Motors, KG Mobility Corporation)"" provides a detailed and comprehensive insight of the South Korea Autonomous Vehicles Industry.

Level of Driving – South Korea Autonomous Vehicles Market breakup from 5 viewpoints:

1. L1
2. L2
3. L3
4. L4
5. L5

Technology – South Korea Autonomous Vehicles Market breakup from 2 viewpoints:

1. Hardware
2. Software

Hardware – South Korea Autonomous Vehicles Market breakup from 13 viewpoints:

1. Passive Components
2. Embedded Modems
3. Ultrasonic Sensors
4. Odometry Sensors
5. Other Electronics and architecture
6. Actuators
7. HMI Hardware
8. Mapping Hardware
9. Embedded Controls Hardware
10. V2X Hardware
11. Cameras
12. Radar
13. Lidar

Software – South Korea Autonomous Vehicles Market breakup from 5 viewpoints:

1. HMI Software
2. Data Security Software
3. Mapping Software
4. Embedded Controls Software
5. V2X Software

Vehicle Type – South Korea Autonomous Vehicles Market breakup from 2 viewpoints:

1. Commercial vehicles
2. Passenger vehicles

Application – South Korea Autonomous Vehicles Market breakup from 4 viewpoints:

1. Civil
2. Defence
3. Transportation & Logistics
4. Construction

Propulsion – South Korea Autonomous Vehicles Market breakup from 5 viewpoints:

1. Battery Electric Vehicle
2. Fuel Cell Electric Vehicles
3. Hybrid Electric Vehicle
4. Internal Combustion Engine
5. Plug-in Hybrid Electric Vehicle

All companies have been covered from 3 viewpoints:

• Overview
• Recent Development
• Revenue

Company Analysis:

1. Hyundai Motor Company
2. GM Korea Company
3. Renault Samsung Motors
4. KG Mobility Corporation


1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Driving Factors
4.2 Challenges
5. South Korea Autonomous Vehicles Market
6. Market Share – South Korea Autonomous Vehicles Market
6.1 By Level of Driving
6.2 Hardware vs. Software
6.3 By Technology – Hardware Components
6.4 By Technology – Software Components
6.5 By Vehicle Type
6.6 By Application
6.7 By Propulsion
7. Level of Driving – South Korea Autonomous Vehicles Market
7.1 Level 1
7.2 Level 2
7.3 Level 3
7.4 Level 4
7.5 Level 5
8. Technology – South Korea Autonomous Vehicles Market
8.1 Hardware Components
8.2 Software Components
9. Hardware Components – South Korea Autonomous Vehicles Market
9.1 Passive Components
9.2 Embedded Modem
9.3 Ultrasonic Sensors
9.4 Odometry Sensors
9.5 Other Electronics & Architecture
9.6 Actuators
9.7 HMI Hardware
9.8 Mapping Hardware
9.9 Embedded Controls Hardware
9.10 V2X Hardware
9.11 Cameras
9.12 Radar
9.13 Lidar
10. Software Components – South Korea Autonomous Vehicles Market
10.1 HMI Software
10.2 Data Security Software
10.3 Mapping Software
10.4 Embedded Controls Software
10.5 V2X Software
11. Vehicle Type – South Korea Autonomous Vehicles Market
11.1 Passenger Vehicle
11.2 Commercial Vehicle
12. Application – South Korea Autonomous Vehicles Market
12.1 Civil
12.2 Defense
12.3 Transportation & Logistics
12.4 Construction
13. Propulsion – South Korea Autonomous Vehicles Market
13.1 Battery Electric Vehicle
13.2 Fuel Cell Electric Vehicles
13.3 Hybrid Electric Vehicle
13.4 Internal Combustion Engine
13.5 Plug-in Hybrid Electric Vehicle
14. Porter’s Five Forces – South Korea Autonomous Vehicles Market
14.1 Bargaining Power of Buyers
14.2 Bargaining Power of Suppliers
14.3 Degree of Competition
14.4 Threat of New Entrants
14.5 Threat of Substitutes
15. SWOT Analysis – South Korea Autonomous Vehicles Market
15.1 Strengths
15.2 Weaknesses
15.3 Opportunities
15.4 Threats
16. Company Analysis
16.1 Hyundai Motor Company
16.1.1 Overview
16.1.2 Recent Development
16.1.3 Revenue Analysis
16.2 GM Korea Company
16.2.1 Overview
16.2.2 Recent Development
16.2.3 Revenue Analysis
16.3 Renault Samsung Motors
16.3.1 Overview
16.3.2 Recent Development
16.3.3 Revenue Analysis
16.4 KG Mobility Corporation
16.4.1 Overview
16.4.2 Recent Development
16.4.3 Revenue Analysis
List of Figures:
Figure-01: South Korea – Autonomous Vehicles Market (Million US$), 2021 – 2023
Figure-02: South Korea – Forecast for Autonomous Vehicles Market (Million US$), 2024 – 2030
Figure-03: Level of Driving – Level 1 Market (Million US$), 2021 – 2023
Figure-04: Level of Driving – Forecast for Level 1 Market (Million US$), 2024 – 2030
Figure-05: Level of Driving – Level 2 Market (Million US$), 2021 – 2023
Figure-06: Level of Driving – Forecast for Level 2 Market (Million US$), 2024 – 2030
Figure-07: Level of Driving – Level 3 Market (Million US$), 2021 – 2023
Figure-08: Level of Driving – Forecast for Level 3 Market (Million US$), 2024 – 2030
Figure-09: Level of Driving – Level 4 Market (Million US$), 2021 – 2023
Figure-10: Level of Driving – Forecast for Level 4 Market (Million US$), 2024 – 2030
Figure-11: Level of Driving – Level 5 Market (Million US$), 2021 – 2023
Figure-12: Level of Driving – Forecast for Level 5 Market (Million US$), 2024 – 2030
Figure-13: Technology – Hardware Components Market (Million US$), 2021 – 2023
Figure-14: Technology – Forecast for Hardware Components Market (Million US$), 2024 – 2030
Figure-15: Technology – Software Components Market (Million US$), 2021 – 2023
Figure-16: Technology – Forecast for Software Components Market (Million US$), 2024 – 2030
Figure-17: Hardware Components – Passive Components Market (Million US$), 2021 – 2023
Figure-18: Hardware Components – Forecast for Passive Components Market (Million US$), 2024 – 2030
Figure-19: Hardware Components – Embedded Modem Market (Million US$), 2021 – 2023
Figure-20: Hardware Components – Forecast for Embedded Modem Market (Million US$), 2024 – 2030
Figure-21: Hardware Components – Ultrasonic Sensors Market (Million US$), 2021 – 2023
Figure-22: Hardware Components – Forecast for Ultrasonic Sensors Market (Million US$), 2024 – 2030
Figure-23: Hardware Components – Odometry Sensors Market (Million US$), 2021 – 2023
Figure-24: Hardware Components – Forecast for Odometry Sensors Market (Million US$), 2024 – 2030
Figure-25: Hardware Components – Other Electronics & Architecture Market (Million US$), 2021 – 2023
Figure-26: Hardware Components – Forecast for Other Electronics & Architecture Market (Million US$), 2024 – 2030
Figure-27: Hardware Components – Actuators Market (Million US$), 2021 – 2023
Figure-28: Hardware Components – Forecast for Actuators Market (Million US$), 2024 – 2030
Figure-29: Hardware Components – HMI Hardware Market (Million US$), 2021 – 2023
Figure-30: Hardware Components – Forecast for HMI Hardware Market (Million US$), 2024 – 2030
Figure-31: Hardware Components – Mapping Hardware Market (Million US$), 2021 – 2023
Figure-32: Hardware Components – Forecast for Mapping Hardware Market (Million US$), 2024 – 2030
Figure-33: Hardware Components – Embedded Controls Hardware Market (Million US$), 2021 – 2023
Figure-34: Hardware Components – Forecast for Embedded Controls Hardware Market (Million US$), 2024 – 2030
Figure-35: Hardware Components – V2X Hardware Market (Million US$), 2021 – 2023
Figure-36: Hardware Components – Forecast for V2X Hardware Market (Million US$), 2024 – 2030
Figure-37: Hardware Components – Cameras Market (Million US$), 2021 – 2023
Figure-38: Hardware Components – Forecast for Cameras Market (Million US$), 2024 – 2030
Figure-39: Hardware Components – Radar Market (Million US$), 2021 – 2023
Figure-40: Hardware Components – Forecast for Radar Market (Million US$), 2024 – 2030
Figure-41: Hardware Components – Lidar Market (Million US$), 2021 – 2023
Figure-42: Hardware Components – Forecast for Lidar Market (Million US$), 2024 – 2030
Figure-43: Software Components – HMI Software Market (Million US$), 2021 – 2023
Figure-44: Software Components – Forecast for HMI Software Market (Million US$), 2024 – 2030
Figure-45: Software Components – Data Security Software Market (Million US$), 2021 – 2023
Figure-46: Software Components – Forecast for Data Security Software Market (Million US$), 2024 – 2030
Figure-47: Software Components – Mapping Software Market (Million US$), 2021 – 2023
Figure-48: Software Components – Forecast for Mapping Software Market (Million US$), 2024 – 2030
Figure-49: Software Components – Embedded Controls Software Market (Million US$), 2021 – 2023
Figure-50: Software Components – Forecast for Embedded Controls Software Market (Million US$), 2024 – 2030
Figure-51: Software Components – V2X Software Market (Million US$), 2021 – 2023
Figure-52: Software Components – Forecast for V2X Software Market (Million US$), 2024 – 2030
Figure-53: Vehicle Type – Passenger Vehicle Market (Million US$), 2021 – 2023
Figure-54: Vehicle Type – Forecast for Passenger Vehicle Market (Million US$), 2024 – 2030
Figure-55: Vehicle Type – Commercial Vehicle Market (Million US$), 2021 – 2023
Figure-56: Vehicle Type – Forecast for Commercial Vehicle Market (Million US$), 2024 – 2030
Figure-57: Application – Civil Market (Million US$), 2021 – 2023
Figure-58: Application – Forecast for Civil Market (Million US$), 2024 – 2030
Figure-59: Application – Defense Market (Million US$), 2021 – 2023
Figure-60: Application – Forecast for Defense Market (Million US$), 2024 – 2030
Figure-61: Application – Transportation & Logistics Market (Million US$), 2021 – 2023
Figure-62: Application – Forecast for Transportation & Logistics Market (Million US$), 2024 – 2030
Figure-63: Application – Construction Market (Million US$), 2021 – 2023
Figure-64: Application – Forecast for Construction Market (Million US$), 2024 – 2030
Figure-65: Propulsion – Battery Electric Vehicle Market (Million US$), 2021 – 2023
Figure-66: Propulsion – Forecast for Battery Electric Vehicle Market (Million US$), 2024 – 2030
Figure-67: Propulsion – Fuel Cell Electric Vehicles Market (Million US$), 2021 – 2023
Figure-68: Propulsion – Forecast for Fuel Cell Electric Vehicles Market (Million US$), 2024 – 2030
Figure-69: Propulsion – Hybrid Electric Vehicle Market (Million US$), 2021 – 2023
Figure-70: Propulsion – Forecast for Hybrid Electric Vehicle Market (Million US$), 2024 – 2030
Figure-71: Propulsion – Internal Combustion Engine Market (Million US$), 2021 – 2023
Figure-72: Propulsion – Forecast for Internal Combustion Engine Market (Million US$), 2024 – 2030
Figure-73: Propulsion – Plug-in Hybrid Electric Vehicle Market (Million US$), 2021 – 2023
Figure-74: Propulsion – Forecast for Plug-in Hybrid Electric Vehicle Market (Million US$), 2024 – 2030
Figure-75: Hyundai Motor Company – Global Revenue (Billion US$), 2021 – 2023
Figure-76: Hyundai Motor Company – Forecast for Global Revenue (Billion US$), 2024 – 2030
Figure-77: GM Korea Company – Global Revenue (Billion US$), 2021 – 2023
Figure-78: GM Korea Company – Forecast for Global Revenue (Billion US$), 2024 – 2030
Figure-79: Renault Samsung Motors – Global Revenue (Billion US$), 2021 – 2023
Figure-80: Renault Samsung Motors – Forecast for Global Revenue (Billion US$), 2024 – 2030
Figure-81: KG Mobility Corporation – Global Revenue (Billion US$), 2021 – 2023
Figure-82: KG Mobility Corporation – Forecast for Global Revenue (Billion US$), 2024 – 2030
List of Tables:
Table-01: South Korea – Autonomous Vehicles Market Share by Level of Driving (Percent), 2021 – 2023
Table-02: South Korea – Forecast for Autonomous Vehicles Market Share by Level of Driving (Percent), 2024 – 2030
Table-03: South Korea – Autonomous Vehicles Market Share by Hardware vs. Software (Percent), 2021 – 2023
Table-04: South Korea – Forecast for Autonomous Vehicles Market Share by Hardware vs. Software (Percent), 2024 – 2030
Table-05: South Korea – Autonomous Vehicles Market Share by Hardware Components (Percent), 2021 – 2023
Table-06: South Korea – Forecast for Autonomous Vehicles Market Share by Hardware Components (Percent), 2024 – 2030
Table-07: South Korea – Autonomous Vehicles Market Share by Software Components (Percent), 2021 – 2023
Table-08: South Korea – Forecast for Autonomous Vehicles Market Share by Software Components (Percent), 2024 – 2030
Table-09: South Korea – Autonomous Vehicles Market Share by Vehicle Type (Percent), 2021 – 2023
Table-10: South Korea – Forecast for Autonomous Vehicles Market Share by Vehicle Type (Percent), 2024 – 2030
Table-11: South Korea – Autonomous Vehicles Market Share by Application (Percent), 2021 – 2023
Table-12: South Korea – Forecast for Autonomous Vehicles Market Share by Application (Percent), 2024 – 2030
Table-13: South Korea – Autonomous Vehicles Market Share by Propulsion (Percent), 2021 – 2023
Table-14: South Korea – Forecast for Autonomous Vehicles Market Share by Propulsion (Percent), 2024 – 2030

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