Driver Assisting Systems Market to Register Exponential Compound Annual Growth Rate Through 2024

Driver Assisting Systems Market

Major automobile manufacturers have introduced driver assistance systems in passenger cars to provide improved driving experience with high safety, higher performance, increased accessibility and eco-friendly models. Automatic driver assistance system (ADAS) is one of the fastest growing markets in automotive sector.

With the increase in vehicle fleet globally, the total number of road mishaps, accidents and casualties have increased. This has brought the attention of automobile manufacturers and governments towards the vehicle and road safety.

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The technological segmentation of ADAS market gives parking/reversing assistance, tire pressure monitoring system (TPMS), night vision, LDWS, heads-up display, e-call telematics, drowsiness monitor, distance warning system, blind spot and adaptive front lighting.

The growth in demand for high-end cars coupled with safety regulations is driving the market for ADAS. The ADAS market is dominated by TPMS, LDWS and park assist systems in terms of volume while in revenue terms drowsiness monitor, ACC, and TPMS are leading technologies.

Regional Outlook

APAC is the biggest passenger car manufacturing region world over. It is expected to maintain its high growth rate in coming years. This region has also become important market for ADAS considering high growth trend in vehicle demand, improvements in lifestyle and change in buyer's preferences. Similar trends are expected in North America and Europe with USA, UK, Germany and France leading the growth chart.

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The key drivers for automated driver assisting systems are push by governments for better road safety, new features are required by automakers, decrease in prices of ADAS and growing consumer awareness and interest.

The major challenges for driver assistance systems can be listed as customer's reaction to potential system failures, current lukewarm reaction by insurance industries and competition from phones and aftermarket devices. Opportunities lie in investing in research and develop products that are a better and wholesome experience to the end-user.

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Key Players

The key players in this market are Continental AG, Denso Corp., Robert Bosch GmbH, Valeo SA, Gentex Corporation, Autoliv Inc., Delphi Automotive PLC, Elektrobit Corporation, Ficosa International SA, Freescale Semiconductor Inc. and Texas Instruments among others.

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