Solid advances in vehicle technologies will have a positive impact on the world advanced driver assistance system (ADAS) market forecast. The increasing frequency of traffic congestion and increased focus on safety have made it increasingly difficult for people to navigate through heavy traffic, fueling the need for innovative automotive technologies.
Growing concerns regarding road safety have led car manufacturers to implement ADAS systems to reduce the incidence of road accidents. Governments around the world are introducing a variety of initiatives to improve road safety and encourage companies to take steps to ensure vehicle safety.
For example, in June 2020, the National Highway Traffic Safety Administration (NHTSA) launched the AV-TEST initiative to provide US citizens with easy and direct access to testing information. of vehicles equipped with ADAS systems. This will improve public awareness of safety precautions taken, road testing, and testing guiding principles.
AEB technology will be widely used:
Road safety has been an important issue for customers and authorities for several years. The rising death rate from vehicle accidents has prompted governments to strengthen traffic laws. According to the European Commission, around 19,800 people died across Europe in traffic accidents in 2021.
The Automatic Emergency Braking (AEB) system can greatly reduce fatalities by stopping or slowing the vehicle if there is a high chance of a collision. According to reports from Consumer Reports and the Insurance Institute for Highway Safety (IIHS), more than 12 major automakers have installed AEB systems in nearly all of their vehicles by 2021.
The IIHS also predicts that if all automakers install this technology, 20,000 injuries and 42,000 crashes will be prevented by 2025.
LiDAR Sensors Find Solid Demand:
LiDAR sensors will have a significant share of the global ADAS market by 2030. Manufacturers of autonomous vehicles are making extensive use of these sensors to improve the driving experience for their customers. They help the car to better ‘see’ its surroundings, helping drivers get a 360-degree view of traffic and road lanes.
Many companies are partnering to boost their competitive advantage and expand their customer base. For example, in January 2022, luxury automaker Mercedes-Benz partnered with Luminar Inc., a leading LiDAR developer, to supply LiDAR sensors for its autonomous driving systems. This strategy will positively influence the development of automated driving technologies.
Europe ADAS market share will grow:
Europe has a large presence of reputable luxury car manufacturers. The region is also one of the leaders in innovative technologies such as automation and robotics. Car manufacturers such as Mercedes-Benz, Audi and BMW are incorporating ADAS technologies into their products not only to contribute to the progress of car automation, but also to take measures to improve road safety.
According to a new EU regulation announced in March 2022, ADAS systems will be mandatory in all new cars manufactured from summer 2022, with the mandate applying to used cars from May 2024. onwards. The European Transport Safety Council (ETSC) had announced that all buses, cars, trucks and vans should be equipped with “black boxes” for added security.
The global market outlook for ADAS will continue to be progressive due to the increasing popularity of autonomous driving technologies. Companies including DENSO Corporation, Continental AG, HARMAN International, Mobileye, Magna International Inc., Robert Bosch GmbH, and Texas Instrument Incorporated, among many others, are the leading providers of ADAS solutions.
