The demand for driving security has rapidly surged since the last few years, fueling the growth of the advanced driver assistance systems (ADAS) market.
Amidst a scenario where the driving technology is witnessing a
transition from human drivers to autonomous cars, ADAS is likely to gain
significant impetus. The fact that ADAS has started to play an
increasingly important role in driver safety is apparent from certain
reports claiming that the EU plans to mandate the inclusion of some ADAS
technologies in new cars from 2020. The Euro NCAP, the crash testing
body, is also planning to add advanced driver assistance systems to its
standard vehicle tests. With such steps underway, leasing companies like
Arval have already started to include specific ADAS in their fleets,
potentially boosting ADAS market trends.
ADAS and its role in mitigating distracted driving
With an increasing amount of
distractions such as cell phones and telematics interface, distracted
driving has become a profound threat on roads. In consequence,
automakers trying to bring more safety not only to drivers and
passengers but to innocent bystanders as well, through the expansion of
advanced driver assistance systems industry. Improved ADAS technologies
such as adaptive cruise control, lane departure warning and automatic
braking are becoming more and more popular owing to the fact that they
are capable of kicking in before inattentive drivers can cause
accidents.
Certain advancements in advanced driver
assistance systems technologies are agile enough to detect drowsiness by
sensing a head nod and will definitely make future automobiles safer.
More common ADAS technologies like the GPS navigation have made paper
maps almost obsolete. Their deployment is certain to eliminate accidents
cause due to distracted driving, thereby fueling ADAS industry. The EU
has also mandated the installation of lane departure warning in all
heavy trucks – further indicating that advanced driver assistance
systems market trends are here to stay.
The impact of technological developments on advanced driver assistance systems market outlook
One of the major factors that will
influence advanced driver assistance systems industry growth is the rate
at which technological advancements are making their foray in this
business space. In the recent years, semiconductor companies and other
players in the automotive industry have made significant enhancements in
the ADAS technology. For instance, the forward collision warning system
is being increasingly made mandatory in heavy vehicles by regulatory
bodies. Studies conducted in relation to forward collision and automatic
braking pointed out that the technology has resulted in 14% drop in
property damage liability claims. Driven by the incredible benefits of
this system and the strict regulatory framework, forward collision
warning advanced driver assistance systems (ADAS) market size is
expected to witness a commendable increase in the ensuing years.
Collision avoidance and collision
mitigation systems in autobraking have also been gaining momentum in the
ADAS industry as they have been tested to be highly effective under
favorable conditions. Estimates claim that collision avoidance systems
helped prevent a collision 60% of the times while collision mitigation
prevented mishaps 33% of the times. Quite overtly, the figures point out
that opting for the collision avoidance systems is more advantageous
than opting for the latter. However, collision mitigation systems cost
much lesser than the former, owing to which they are being made more
widely available in vehicles.
OEMS recognize the potential of ADAS
Original equipment manufacturers have
come to realize that in the near future, ADAS applications can become
the chief feature that will make each automotive brand unique. On these
grounds, not only OEMs, but even tech giants like Google are being more
involved in the autonomous vehicle development. It is thus, rather
apparent that the same technologies enabling ADAS will be found
applicable in the success of autonomous vehicles. This has led OEMs to
focus tremendously on advanced driver assistance systems market trends
and contribute their bit toward the expansion of this business sphere.
Indeed, advanced driver assistance systems (ADAS) industry is forecast
to acquire a highly commendable share through OEMs in terms of volume
over 2018-2024.
Unveiling the regional outlook of the advanced driver assistance systems (ADAS) market
Considering the costs of advanced driver
assistance systems and the fact that some of the largest producers of
automobiles are located in North America, it is presumable that the
region will emerge as a profitable avenue for ADAS market. Not to
mention, consumer awareness has also led to relatively high adoption of
ADAS technology in this region. Additionally, the continent is governed
by a stringent regulatory framework, that has further augmented the
regional advanced driver assistance systems industry size.
This business vertical however, has also
depicted commendable expansion across the developing nations. For
example, Tata Motors has partnered with Wabco India to deploy collision
mitigation system and lane departure warning system in its Prima and
Sigma Trucks, thus making inroads for advanced driver assistance systems
market to gain ground in India. Indeed, APAC has become an automotive
hub owing to excessive automobile production in China, Japan, and South
Korea. What’s more, these regions are now depicting enhanced living
standards and consumer awareness for better road safety, that have
contributed toward impelling APAC ADAS market outlook.
Though still a relatively young science,
ADAS has the potential to grow immensely in the years ahead,
considering the safety features it adds to vehicles. According to the
WHO, 1.25 million people die due to road accidents every year. In fact,
devoid of stringent traffic rules, road accidents are predicted to
become the seventh leading cause of death by 2030. On these grounds, WHO
has adopted the 2030 Agenda for sustainable development which aims at
halving traffic crashes by 2020.
Technologies like ADAS are certainly
expected to help meeting the targets for such ambitious agendas.
Endorsed by a highly powerful regulatory frame of reference and the
increasing tech advancements in the automotive space, advanced driver
assistance systems market is expected to chart out a profitable growth
path by 2024.
Read Next
