Vehicle Intelligence System Market to Develop Rapidly by 2025

Vehicle intelligence systems comprise of electromagnetic, electronic and electromechanical devices such as silicon micro-machined components operating with radio transceivers and computer controlled devices. This allows precise repeatability functions such as artificial intelligence function and emergency warning functions. Vehicle intelligence systems communicate with the surroundings of the vehicle and assists the driver for a better driving experience. The communication is carried out with the help of sensors fitted in vehicles.

The major types of vehicle intelligence systems are anti-lock braking system (ABS), blind spot monitoring system, adaptive head lights, electronic stability program (ESP), lane departure warning system, emergency call system, obstacle and collision warning system, real time traffic and travel information system. ABS is a braking system which automatically prevents the locking of wheels while braking and allows the car to stay on track.

Blind spot monitoring system alerts the driver for any obstacles coming in the blind spot zone of the vehicle. Adaptive headlights or smart lamps has the capability of automatically adjusting the intensity of light in corners and dark conditions. Such lights also help to avoid dazzling. ESP is a system which stabilizes the movement of vehicles and helps in the avoidance of skidding under critical scenarios. Lane departure warning system alerts the driver and co-passengers during unintentional switching of lanes.

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In a case of accident, emergency call system, automatically calls the local emergency authorities and provides them the vehicle position and accident related data on real time basis. Obstacle and collision warning systems alerts the driver of any potential collision with any vehicle or objects. Real time traffic and travel information provides data and information to the driver relating to traffic, weather conditions, speed cameras and navigation. On having received such data, the driver makes a route plan and selects the best alternative route to the destination.

The vehicle intelligence system market can be classified by system, by application and by geography. The system segment can be classified into anti-lock braking system (ABS), blind spot monitoring system, adaptive head lights, electronic stability program (ESP), lane departure warning system, emergency call system, obstacle and collision warning system, real time traffic and travel information system, and others. By application, the market can be segregated as passenger vehicles, light commercial vehicles and heavy commercial vehicles. By geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

The need for higher safety of passengers and drivers in vehicles coupled with strict automobile standards set by governments and the rising rate of road accidents are the major factors influencing the growth of global vehicle intelligence systems market. Demand for infotainment in vehicles for better navigation, driving assistance and emergency alarm systems is also set to drive the market of vehicle intelligence systems globally.

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In addition, economic reforms in the Asia Pacific and Europe and rising private equity investments in vehicle intelligence system manufacturing companies across the world is set to influence the growth of this market positively. In terms of market revenue share, Europe is expected to hold the largest share by the end of forecast period followed by North America, Asia Pacific, Latin America and, Middle East and Africa.

The report also provides company market share analysis of the various industry participants. Acquisition is the main strategy being widely followed by leading market players. In case of an acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are expected to emerge more profitable and stronger than before.

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