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Driver Assisting Systems Market to Witness Comprehensive Growth by 2024
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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.
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. 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.
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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. 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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