Driver Assistance System Market Overview:
Increasing manufacturers’ interest towards vehicle automation coupled with incorporation of advanced technological innovations are some of the major factors driving the growth of the global driver assistance system market. Rise in demand for next-generation driving assistance systems with safe human-machine interface and incorporation of advanced technologies to minimize human errors and avoid road fatalities are fueling the growth of the global driver assistance systems market.
Multiple services provided by advanced driver assistance systems such as electronic stability control, lane departure warning, anti-lock brake, adaptive cruise control, and others that rely on various data source such as automotive imaging, LiDAR, radar and image processing among others are inducing high demand for vehicles equipped with driver assistance systems, resulting in the expansion of the global driver assistance system market.
However, high installation and maintenance cost and growing incidences of software failures in sensors are likely to act as restraints on the growth of the global driver assistance system market.
The industry is expected to achieve revenues worth USD 112.69 billion while growing with a CAGR of 22.90 per cent by the end of the forecast period.
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Major Key Players:
- Delphi Automotive Plc. (UK)
- Gentex Corporation (US)
- Autoliv Inc. (Sweden)
- Continental AG (Germany)
- Hitachi Ltd (Japan)
- Magna International (Canada)
- Robert Bosch Gmbh (Germany)
- Hella Kgaa Hueck & Co. (Germany)
- Texas Instruments Inc. (US)
- Renesas Electronics Corporation (Japan)
Global Competitive Analysis
The viable possibilities accessible in this market are being utilized by candidates who are trying to cover their market coverage by centered development which will prove to be perfect for the growth of this industry sector. The companies in this industry space are connecting their resources to achieve their vision for achieving a considerable portion of the business as early as possible. The products that are on offer presently vary greatly due to the reason of the strong pace of technological discoveries.
This has raised the chances for the approaching growth period. This consequence is productive for firms so that they may maintain fiscal liquidity to take the best conclusions in terms of strategy execution and planning. Few of the leading players in the market for driver assistance system globally include Magna International (Canada), Delphi Automotive Plc. (UK), Continental AG (Germany), Autoliv Inc. (Sweden), Gentex Corporation (US) and Hitachi Ltd (Japan).
The industry for Driver Assistance System Market internationally has been divided on the criteria of types which comprise of Tire Pressure Monitoring System (TPMS), Adaptive Cruise Control (ACC), Park Assist Drowsiness Monitoring System, Lane Departure Warning (LDW) system, Blind Spot Detection (BSD) System, Night Vision, and Adaptive Front Lighting. Moreover, on the basis of technologies the industry is divided into Lidar sensors, Image sensors, Ultrasonic sensors, Radar sensors and IR sensors among others. In this segment, the Ultrasonic Sensors is expected to increase with a CAGR of 23.62% in the forecast period.
Detailed Regional Analysis:
While considering the regional analysis of the industry, the Asia Pacific region dominates the Driver Assistance System Market with the largest market share owing to refining lifestyle and infrastructure in the countries, which currently accounts for $2.51 billion and is anticipated to develop over $23.12 billion by the year 2027. The driver assistance system sector in the European region is anticipated to develop at a CAGR of 23.67 per cent from $ 4.36 billion in 2016 to $45.16 billion by the year 2027. The North American market for the industry for driver assistance system is projected to expand at 22.81 per cent CAGR by 2027.
Feb 2018 Ford has launched its new model Ford Edge which is making its debut in the European continent with an excellent combination of features such as a raft of driver assistance systems. The new Edge model is also filled with cameras and sensors based driver assistance technologies intended to help car users evade crashes or at least mitigate them. The new SUV model will also feature evasive steering assist, post-collision braking and adaptive cruise control for the first time in the European market.
Feb 2018 Omnitracs LLC which is a fleet management company recently announced its partnership with Peloton Technology who is into the business of connected and automated vehicle systems for U.S. and global freight carriers. The collaboration between Peloton and Omnitracs will bring Peloton’s truck platooning technology to Omnitracs clienteles. They will also jointly develop solutions that bring together each company’s efficiency, safety and fleet management proficiencies. Peloton also has created technology that is pioneering in the domain of automated vehicle movement and advanced driver assistance systems.
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Driven by 22.90% CAGR rates, Driver Assistance System Market to attain high growth levels #MRFR #AutonomousVehicles #automobile @HitachiGlobal @continentaltire @RobertBoschUK
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