This question tests pattern recognition and visual reasoning skills. The series shows a progressive change in the arrangement of the elements within each figure. Let's analyze the given sequence:

Observe that in each successive figure, the small circle rotates 90 degrees clockwise, while the larger semicircle remains stationary. The correct option will continue this pattern.

Let's examine the options:

Option 1, 3, and 4 do not follow the established 90-degree clockwise rotation pattern of the small circle.

Option 2 is the only one that correctly maintains the pattern of 90-degree clockwise rotation of the small circle, maintaining the position of the large semicircle. Therefore, it's the logical continuation of the series.

Correct Option: 2

The solution involves carefully observing the rotation and positional changes in the image series. The pattern recognition is key; identifying this pattern allows you to select the correct image that logically completes the sequence.