Current Trends In The Global Automotive Driver Assistance Systems (ADAS) Market
Automotive advanced driver assistance systems (ADAS) applications are the predecessors to the fully automatic driverless cars that are yet being experimented. The global ADAS Market is anticipated to garner US$ 60.14 billion by 2020, recording a CAGR of 22.8% between 2014 and 2020.
ADAS enables safe driving and cautions the driver if the system senses perils from the nearby objects. Positioning of ADAS in automobiles to augment ease and guarantee safety on road has materialized as one of the key trends. Even though in its early days, the global market for ADAS has registered notable growth. The present market returns, nevertheless, lags in contrast to that of audio and telematics intended for cars. This is because of the fact that some of the most likely ADAS applications are still being advanced or are still to come in the market. In addition, their high prices are also obstructing the market growth.
ADAS offers vibrant features such as parking support, adaptive cruise control, blind spot recognition, sleepiness monitoring, lane departure warning, tire pressure checking and nocturnal vision. The growth of the market is motivated by growing emphasis of buyers on security, the imminent demand for comfort in driving in consort with a rise in government protocols for guaranteeing safety. Nonetheless, dynamics such as valuing pressure, price rise, intricacy and difficulty in testing systems are few of the major challenges of this industry. The foremost inclinations prevalent in the market are deployment of ADAS in low-cost cars, augmented electronic content and electronic integration, and a rise in number of driverless cars.
The European automotive industry is one of the biggest and most advanced automotive markets in the world. With a colossal makeover in the industry, there is fast market dispersion and mass acceptance of ADAS amongst clienteles. There are consistent improvements in the ADAS technology which enable effectiveness in the market. Currently, ADAS comes fixed in high-end cars, but in the upcoming years, with more product improvement, they will be embedded in less expensive cars running on roads too. Original Equipment Manufacturers and their providers increasingly comprehend the prominence of ADAS as a decisive differentiator for automotive brands, which will in the long run augment their sales.
The development of the ADAS market is at present mired by the increasing frequency of software failures in sensors, as well as the costly pricing of these systems that has worked as a foremost chafing factor for the extensive suitability of these systems. Still, the promptly growing hybrid and electric vehicle market, accompanied by the growth of the self-directed vehicles, will help enhance the ADAS in these vehicles, hence motivating the growth of the market considerably in the next few years.
Read more on Automotive on:
Comments are closed.