MARKET - TRENDS
With the rising demand for safety as well as comfort for the consumer, Advanced Driving
Assistance Systems are rapidly growing in demand with current estimates showing a CAGR of
more than 50% for the next five years. Since the time of the introduction of ABS(Anti-lock
Braking System), to the current technologies like Automated Parking systems, the driver
assistance systems have come a long way and developed into a multi-billion dollar market. Some
of the key market trends observed:
The global advanced driver assistance systems market is expected to grow from around
$18.5bn in 2013 to around $165bn in 2018.
The European Commission and Euro NCAP (New Car Assessment Program)
regulations about making autonomous-emergency braking (AEB) technology part of
European crash evaluations from 2014, mandatory application of TPMS and also LDWS
will be the major growth drivers for the market.
Autonomous and semi-autonomous cars being developed by auto OEMs is making the
ADAS market progress at a very fast rate in the technology perspective.
The aftermarket sales of driving assistance systems have seen a multi-fold increase over
the years especially in rapidly growing market such as China.
With costs of the advanced driving systems coming down, this has seen a rise in the
demand for these systems not only in high-end luxury cars but also cars in mass
production.
Suppliers such as Continental and Robert Bosch etc., are working closely with OEMs
right from the product concept to develop low-cost ADAS such as LDW systems, traffic
sign recognition systems, intelligent headlamp control systems, and driver monitoring
systems for the Medium-sized Cars and Compact Cars segments
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