Driver Assistance Systems Market Analysis and Industry Trends, 2016 to 2024A Chapter by Markets InsightsDriver assistance systems market is expected to grow at a significant pace from 2016 to 2024 owing to the increased demand for premium passenger cars.Driver assistance systems market is expected to grow at a significant pace from 2016 to 2024 owing to the increased demand for premium passenger cars. Factors such as growing number of households, economic prosperity, increase in people holding driving licenses and growth in employment contributes to the increasing passenger car demand. Furthermore, motor vehicle safety regulations and government mandates
such as air bags and ABS is expected to accelerate the technological adoption.
The European New Car Assessment Program requires vehicles to be equipped with
emergency autonomous braking to receive highest safety rating. Asian countries
such as India, China and Japan are also planning to introduce such mandates.
The manufacturers are required to abide by such regulations and are expected to
spur the industry demand. Browse Details of Report @ https://www.hexaresearch.com/upcoming-research/driver-assistance-systems-market Furthermore, according to Insurance Institute for Highway Safety (IIHS)
approximately 1 in 5 injury crashes and 1 in 3 fatal crashes could be prevented
if all vehicles are equipped with systems such as adaptive headlights, blind
spot monitoring, lane departure warning and forward collision warning.
Moreover, they estimated that as many as 1.9 million crashes could be mitigated
or prevented each year. This growing need to reduce injuries and deaths is
expected to drive the demand for such systems. The devices were debuted on high priced cars but are now becoming
increasingly available on low cost cars such as Honda Accord Hybrid Touring and
Mazda 6 Grand tuning. Growing awareness about passenger, driver and pedestrian
safety is expected to increase the number of users opting for these cars .As
these cars offer advance features with affordable prices it is expected to benefit
the market over the next eight years. On the basis of technology, market is segmented into adaptive cruise
control, automated parking, forward collision warning/prevention, lane
departure warning/prevention and blind spot detection/assist. These technologies
alert the user by triggering warning lights, sound and sometimes physical
alerts if they sense dangerous situations. Furthermore, they can even take
actions such as steering back in lane and applying breaks to avoid collision. On the basis of sensor technology, market is segmented into radar,
LiDAR, camera, infrared and ultrasonic. The assistance systems use signals from
these sensors around the vehicle to support the driver and can even take over
some tasks by their help. North America is expected to witness significant growth over the
forecast period owing to the presence of stringent safety regulations. For
instance, it is mandatory for all passenger cars in North America and Europe to
be installed with tire pressure monitoring systems. These regulations relating
to pedestrian, vehicle, driver and vehicle safety compel manufacturers to
include the features as default offerings. Denso Corporation, Continental AG, Delphi Automotive PLC and Robert
Bosch GmbH are the key industry players. Suppliers use product differentiation
as well as strategic alliances, mergers and acquisition to gain competitive
advantage. In April 2016, Denso Corporation announced that it has formed joint
venture with eSOL Co.Ltd. and NEC Communication Systems, Ltd called AUBASS CO.,
LTD, in Tokyo, Japan to develop basic software that can support high-quality
security, high-speed data communication and high-performance microcomputers for
advancing in vehicle systems used for automated driving and control actions. In November 2014, Delphi Automotive PLC announced that it has partnered
with Ottomatika, Inc. which provides advanced automated driving software to
jointly develop technology to accelerate the product market. In March 2016, Continental AG announced acquisition of Hi-Res 3D Flash
LIDAR. The acquisition was aimed to enhance the company’s product portfolio for
advanced driver assistance system by adding solutions to the surrounding
sensors needed to achieve fully and highly automated driving. Browse Related Category Reports @ https://www.hexaresearch.com/research-category/automotive-and-transportation-industry About Us: Hexa Research is a market research and consulting organization, offering
industry reports, custom research and consulting services to a host of key
industries across the globe. We offer comprehensive business intelligence in
the form of industry reports which help our clients obtain clarity about their
business environment and enable them to undertake strategic growth initiatives. Contact Us: Ryan Shaw Hexa Research Felton Office Plaza 6265 Highway 9 Felton, California 95018 United States Phone: +1-800-489-3075 Email: [email protected] Website - http://www.hexaresearch.com/ Follow us on Linkedin : https://www.linkedin.com/company/hexa-research © 2016 Markets Insights |
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Added on December 6, 2016 Last Updated on December 6, 2016 Tags: driver assistance systems market, driver assistance systems market, driver assistance systems market AuthorMarkets InsightsFelton, CAAboutAbout Us: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer c.. more..Writing
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