The Advanced Driver Assistance Systems Market covers a wide range of active and passive technologies that are aimed to assist the driver by providing safety, comfort, efficiency while driving and also increase the driver, passenger, and pedestrian security and safety. ADAS has numerous key components such as sensors, cameras, radars, and some software that collectively assist the system to function precisely. Autonomous Emergency Braking, Blind Spot Detection, Park Assist, Adaptive Cruise Control, and Lane Warning Departure System are a few of many systems featured in the ADAS. Artificial Intelligence has moved the automotive sector to the next level. Moreover, the increase in urbanization, expansion in industrialization, increasing standards of living, and the rise in disposable income are favorably supporting the growth of the Advanced Driver Assistance Systems Market.
Most of the accidents are caused by a driver’s irresponsibility and blunders. Every year, over 1.3 million people lose their lives in traffic accidents across the world. ADAS aids in minimizing the problem of traffic congestion, road accidents, and promotes the safety and security of cars, occupants, and pedestrians. Furthermore, the governments of various regions are spending a considerable amount on the adoption of innovative technologies, improving safety features, and encouraging the usage of automated vehicles across the globe. Also, the government has made it necessary for automotive manufacturers to install different advanced driver aid systems in all types of vehicles.
Self-driving vehicles or automated automobiles are no more a dream. Autonomous driving technologies including LiDAR, Radar, V2X Communication, deep learning, and sensor fusion are significantly taking over traditional automobile technologies. The ADAS is a mix of technical systems that are focused on upgrading and automating automobiles for a safe and better driving experience. The automotive sector is undergoing a widespread acceptance of level-0 to level-2 advanced driver assistance systems which comprises a braking assist, cruise control, park assist, and lane-keeping assist. As a way of preparing for level 3 technology and beyond, automakers, vehicle OEMs, and new entrants to the automotive industry are increasingly turning to the development of Advanced Driver Assistance Systems (ADAS), as well as automated vehicles (AV). Due to the increasing need for safety measures in automobiles, more comfort, and a more efficient driving experience, the major players are spending a lot of money on R&D. Automobiles that operate without a human driver are becoming increasingly popular around the world.
Restriction of the Market
To keep up with the ever-increasing need for Advanced Driver Assistance Systems (ADAS), car manufacturers are constantly retooling and improving their products to keep up with the demand. Adaptive cruise control, automated emergency braking, park assist, blind-spot detection, and other sophisticated driver aid technologies are all included in this category. There are a variety of sensors and software that help all of these systems work together. They bring with them a slew of technical difficulties and complexities. It is possible that the constant usage of battery power and the reliance on these systems may increase the danger of malfunctions and breakdowns because ADAS is powered by batteries. ADAS electronic components might malfunction and display inaccurate information. ‘ Furthermore, the system’s significant risk of cyberattacks and its difficulty in management could put the car and its occupants at risk. Advanced driver assistance systems can be deadly and even lethal if there are malfunctions or errors, both intentional and unintentional.
Advanced technologies and artificial intelligence (AI) have been substantially spent in the research and development of driver assistance systems by major companies. As a result, the price of vehicles has risen as a result of these extra features, which may limit the ADAS market’s growth in the near future.
Players In The Advanced Driver Assistance Systems Market Industry
For a while, Robert Bosch GmbH was the market leader in vehicle advanced driver assistance systems, and this is projected to continue. There are a wide variety of smart help solutions specifically designed for urban traffic to blame for this. For this company, R&D efforts on component production have led to significant technological improvements, which have contributed to its success.
Denso, Aptiv, Robert Bosch, Continental AG, Magna International, Veoneer, Hyundai Mobis, ZF Friedrichshafen, Valeo, NVIDIA, Intel, Microsemi Corporation, Nidec Corporation, Hella, Texas Instruments, Infineon Technologies AG, Hitachi Automotive and Renesas Electronics Corporation
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Factors Affecting Growth
The rising popularity of luxury automobiles and the accompanying rise in desire for high-tech safety and convenience features are driving demand for Advanced Driver Assistance Systems (ADAS). It is expected that ADAS would grow as a result of a rise in demand for electric vehicles (EV), the advancement of sensor technology, and the demand to incorporate ADAS in high-end automobiles. Advanced Driver Assistance Systems market growth is also projected to be boosted by strict rules and regulations for vehicle safety over the study period. In fact, the ADAS market is projected to see a slowdown in the near future due to a lack of necessary road infrastructure in developing regions. Autonomous vehicle markets are likely to grow rapidly in the next years, providing a wealth of profitable new business ventures for existing market participants. Despite the COVID-19 pandemic’s impact on vehicle sales, current safety rules and regulations will encourage the adoption of ADAS systems in future vehicles.