The automotive industry with its requirement of reducing road accidents caused due to human error will be the defining factor for the advanced driver assistance system (ADSS) market as per a market intelligence report published by IndustryARC. According to the report, the global advanced driver assistance system market value will reach $113.51 billion by the year 2023. The report further estimates that the market ADSS market demand would increment during the forecast period of 2018-2023 with a robust compound annual growth rate (CAGR) of 14.9%.
The report is titled “Advanced Driver Assistance Systems (ADAS) Market: By Vehicle Type (Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)); By Sensors (Image, RADAR, Laser, Ultrasonic, Infrared, Capacitive and Others); By Application (Adaptive cruise control, Blind spot monitor, Collision avoidance system, Driver drowsiness detection, Others) & By Geography – Forecast (2018-2023).” Researched by automotive analysts, it covers a plethora of imperative topics including market trends, growth drivers, prospects, competitive landscape, and market analysis.
Global Advanced Driver Assistance System Market: Leading Segments
Asia-Pacific contributed the largest demand share in the global advanced driver assistance system market at $22.15 billion in 2018 owing to large-scale manufacturing of sensors and microcontrollers, which are used extensively in ADSS. Increase in urban population and consequently their higher wages expands the need for owning a vehicle for mobility and ease of reaching a destination. This contributes massively to the growth of the global advanced driver assistance system market as non-commercial drivers are consistently on the lookout for advanced safety features in vehicles.
Trends Disrupting the ADSS Market
According to the report, the estimated number of vehicles in the world has crossed the 1 billion mark and is increasing at an unprecedented rate. An industry with this expansion rate is experiencing many disruptive trends in the advanced driver assistance system market which are as follows:
- Government Legislations For Active Safety
According to a study conducted by the University of Twente, Netherlands, ADSS has the ability to reduce traffic fatalities by 40%. This advantage has been recognized by governments of different regions, and they have made perpetual efforts to extend this technology to vehicles beyond the premium range. Governments have initialized and conducted researches on functionalities of several ADSS technologies including Lane Departure Warning System (LDWS), Bling Spot Detection, and Autonomous Emergency Breaking System. North America has gone a step farther and added Forward Collision Mitigation System and LDWS as mandatory components of the New Car Assessment Program.
- Automatic Car Driving System
Delphi Automotive Ltd., Mobileeye, and Ottomatica are together working on a self-driving car system that is extensively using the ADSS technology. In the meantime, they have also roped in Intel in the partnership for its processors that will serve as the brains of these vehicles. A self-driving car by this partnership is expected to be released by the end of 2019, which will provide impetus to the global ADSS market.
- Vehicle to Vehicle Communication Technology
In order to massively reduce road accidents and encourage safety on the streets, Delphi Automotive Ltd has partnered with Ford to introduce Vehicle to Vehicle (V2X) communication that will enable cars to talk or communicate with each other. This technology will majorly help ADSS as it will provide alerts related to traffic congestion, approaching hazards, and others.
- LED Reversing Spot Lights
Hella KGaA Hueck & Co. is a German company manufacturing in the automotive industry. They recently added a new technology in accordance with ADSS called ‘Reversing Light.’ These lights are to be used during manoeuvring in harsh traffics and reversing during a foggy day. The lights allow upright or side mounting in nearly every scenario. This is a budding technology that will steadily disrupt the market and will get embraced by other key market players.
Global Advanced Driver Assistance System Market: Competitive Landscape
Some of the key companies identified by the analyst in the global ADSS market are Aisin Seiki Co. Ltd., Delphi Automotive PLC, Robert Bosch Car Multimedia GMBH, Denso Corporation, Omron Corporation, Continental AG, Autoliv, TRW Automotive Holdings Corporation, Valeo, Magna International Inc., Mobileye, Gentex Corporation, Texas Instruments, Hyundai Mobis, Voxx International Corporation, QNX Software Systems, Hella KGAA Hueck and Corporation, Imagenext, Ficosa International, and Applus Idiada.
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IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
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