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  • Advanced Driver Assistance Market Estimated to Witness $80.1 Billion by 2026

    (, February 03, 2022 ) Advanced Driver Assistance Market is estimated to witness $80.1 billion by 2026 with 23.2% CAGR during the forecast period 2021-2026. The advanced driver assistance systems are intended to assist the driver by providing efficiency, comfort, and safety while driving, as well as to improve the safety and security of the passenger, driver, and pedestrian. Moreover rising government involvement of various regions for promoting this Advanced Driver Assistance through investing high amount on such advanced technologies such as LiDAR sensor, head up displays, Automatic emergency braking and mandating various Advanced Driver Assistance systems in all vehicles is estimated to boost the market demand. For instance, the Japanese government in 2019 announced a plan to mandate advanced automatic-emergency braking in all passenger vehicles by November 2021. As a result of these factors, the Advanced Driver Assistance industry is estimated to witness significant growth.

    Advanced Driver Assistance Market Segment Analysis - By System Application

    Parking assistance system is majorly accepted in the market with a share of 15.9% owing to the advanced automated parking assistance. This system allows the user to find it parking place and park the vehicle automatically, thus due to such advanced system it is estimated to drive the Advanced Driver Assistance market size. In 2021 Lexus announced its next generation model NX equipped with remote park assistance an advanced driving support technology developed based on the Mobility Teammate Concept, to support safe, secure and smooth parking. Moreover, Driver Monitoring System helps the driver to be active while driving by detecting distraction and other disturbing factors due to which the chance of road accidents are aimed to reduce with high rate. Furthermore government are implementing regulations and supporting the advanced technology to control road accidents For instance, The European Union has proposed Vision Zero, a plan to reduce road deaths to zero by 2050. By 2022, major safety features such as lane departure warning, automatic emergency braking, and drowsiness and attention detection will be mandated in all new vehicles. Moreover From January 2019, all new passenger vehicles in South Korea must have automatic emergency braking and lane departure warning systems.

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    Advanced Driver Assistance Market Segment Analysis - By Sensor Type

    The radar sensor for 360-degree car surveillance, aided by 24 GHz short- and mid-range radars, is gaining traction for high-resolution tracking. Moreover the radar sensors are mainly attributed towards application of automatic emergency braking which is estimated to drive the market demand. The Image Sensor makes driving much safer, day and night. Its advanced pixel technology with high-resolution that precisely identifies objects and roadways ensure safety of vehicle as well as the passengers and pedestrians.

    Advanced Driver Assistance Market Segment Analysis - By Geography

    APAC region account for the largest share 30.5% of the Advanced Driver Assistance Systems Market owing to the high vehicle production and increased use of advanced electronics in the countries such as Japan, South Korea, and China. In 2019, China have made tire-pressure monitoring system mandatory for all vehicle, this regulation boost up the Advanced Driver Assistance industry. Moreover in 2019, the Japanese government has decided that all new and remodelled passenger cars sold in Japan must have automatic-emergency braking (AEB) and is said to mandate by November 2021 hence with such regulation the adoption of Automatic emergency braking by the manufacture will be increased, and thus due to such Standardization of ADAS is driving the demand for Advanced Driver Assistance industry.

    Advanced Driver Assistance Market Drivers

    Growing demand for safety and driving comfort

    Increasing awareness of vehicle safety ratings and decreasing component costs as a result of the ubiquitous use of cameras and radars are the major drivers for the Advanced Driver Assistance system market. ADAS safety functions are designed to improve passenger and pedestrian safety by reducing the severity of motor vehicle accidents. The safety features such as airbags, automatic emergency braking system, parking assistance, tire pressure monitor and others are highly demand due to rise in concern for road accidents and hence with such growing concern for safety the Advanced Driver Assistance market is estimated to propel. Moreover recent technological advances in the fields of artificial intelligence, machine learning, and other sensors such as RADAR, LIDAR, GPS, and computer vision have enabled car manufacturers to increase self-driving capabilities. This technology make use of advanced driver assistance systems, like collision detection, lane departure warning, and adaptive cruise control and hence boosting the demand for Advanced Driver Assistance Market. In 2019, ZF Friedrichshafen and Xilinx announced a collaboration to provide AI innovation and autonomous driving application.

    Stringent government regulations and support

    The governments of various regions have enacted various laws and regulations to reduce road accidents and ensure vehicle safety and are extensively supporting the advanced technology for ensuring the safety and security. As a result of these factors, automotive manufacturers are more likely to comply with such regulations and obtain the safety ratings set by organisations such as the New Car Assessment Program and the Insurance Institute for Highway Safety. In 2021 U.S. Department of Transportation developed the Automated Vehicles Comprehensive Plan to advance the Department's work to prioritize safety while preparing for the future with a goals to achieve this vision for Automated Driving Systems and through such initiative plan the demand for Advanced Driver Assistance industry is estimated to propel in future. The Ministry of Land, Infrastructure, Transport and Tourism have announced that by 2025 all new cars along with Existing models will have Automatic braking system. Considering this factors these regulation are the major reason for driving the Advanced Driver Assistance Market.

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    Advanced Driver Assistance Market Challenges

    High upfront cost and complicated structure

    The high cost of installing such ADAS applications in vehicles may hinder the advanced driver assistance industry's growth. Moreover, availing the service for such advanced applications incurs additional costs as skilled workers are required for such services. More over lack of infrastructure in developing countries become a challenge for advanced driver assistance market. No proper lane marking, improper road and other are some of the examples creating a challenge for the market.

    Advanced Driver Assistance Market Landscape

    Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Solar Cell Fabric market. Advanced Driver Assistance Market top 10 companies Continental AG, ZF Friedrichshafen, Veoneer, Denso, Magna International Inc., Infineon Technologies AG, Robert Bosch GmbH, Renesas Electronics Corporation, Texas Instruments, and Valeo.

    Acquisitions/Technology Launches

    In 2020 Veoneer had designed scalable system to meet Euro NCAP's 5-star safety rating while also providing a variety of driver assistance features such as highway assist, adaptive cruise control, automatic emergency braking, traffic sign recognition, and automated high beams.

    In 2019 Continental had introduced new system solutions for automated driving that are smarter. It created a camera system that included an infrared camera that looked inward and an outer camera that looked outward. The device can keep track of both the driver and the vehicles around them at the same time.

    Related Reports:

    A. Next Generation In-Vehicle Networking (IVN) Market

    B. Vehicle Roadside Assistance Market

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    Venkat Reddy

    (+1) 970-236-3677

    Source: EmailWire.Com


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