Adaptive Cruise Control
APAC ADAS market to depict an appreciable CAGR over 2019-2025
The robust demand for safer vehicles on account of increasing road accidents have led to a massive spurt in advanced driver assistance system (ADAS) market size in recent years. Having recognized the extensive benefits of ADAS systems, numerous automakers have been working toward deploying this feature in their latest automobile brands. This paradigm shift toward implementing safety systems in vehicles on account of the increasing number of road accidents is certain to stimulate ADAS market trends.
U.S. Advanced Driver Assistance System (ADAS) Market, By Vehicle, 2018 & 2025, (USD Million)
In the face of potentially hazardous driving scenarios, autonomous systems have been taking increasing precedence in recent times. Consequently, major players in advanced driver assistance system industry are focusing on the development of advanced automated ADAS systems. In order to retain a control over driving, these systems are embedded with features like emergency braking, lane keeping, automatic parking, and adaptive cruise control.
The incorporation of additional features such as machine learning and ADAS vision have even enabled vehicles to adapt themselves to adverse climatic conditions. Numerous ADAS market firms have been striving to launch diverse live-saving technologies, which have been instrumental in augmenting the industry trends.
Although ADAS is one of the benchmark features introduced in automotive industry, it has been found that the system is massively prone to cyber-attacks. Therefore, numerous ADAS market giants have been continuously working on LIDAR and Radar sensors to control cybersecurity threats. Tech companies are playing their part in eliminating security issues as well and have been found developing advanced solutions to improve security measures in ADAS systems.
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In this regard, recently, Groupe PSA collaborated with Harman International to design a cyber security strategy for protecting connected and next-generation autonomous vehicles. The collaboration is a vivid indicator of the fact that the growing concerns regarding cyberattacks and protection capabilities of ADAS integrated vehicles will play a pivotal role in augmenting advanced driver assistance system market outlook.
The Indian OEM Tata Motors has scarcely extended its partnership with the pioneering technology provider, Wabco, having already deployed the latter’s ADAS facility in its vehicles. Tata has also conveniently implemented a collision mitigation system (CMS) and a lane departure warning system (LDWS) for its Signa and Prima trucks. The move apparently, is targeted toward the minimization of road accidents and the provision of occupant safety. Having already been a strong player in the India automotive industry, Tata, through this partnership, will further strengthen its position in the regional ADAS market as well.
In 2018, one of the prominent China-based heavy-duty truck manufacturers, Sinotruk Limited, extended its cooperation agreement with WABCO Holdings Inc., that supplies advanced technology for enhancing efficiency, connectivity, and safety of commercial vehicles. The deal is anticipated to substantially improve WABCO’s capability in innovative technologies such as ADAS, AMT, EBS, and ECAS. Incidentally, this agreement has so far, spanned almost three decades, and stands as a classic evidence to the fact that long-term business deals across the automotive sector are certain to propel advanced driver assistance system market size over the forecast period.
The robust developments across the automotive cosmos in the economies of India and China vividly portray that APAC will tur out to be a prominent revenue contributor for ADAS market. The rising sales pf passenger vehicles in the continent combined with the increasing demand for road safety and emission control will augment APAC ADAS market trends over the forecast duration.
The rapidly shifting trends toward the adoption of technologically advanced vehicles are thus likely to fuel ADAS industry share in the ensuing years. As the demand for such vehicles continues to increase along with changing consumer preferences, companies in ADAS market will be looking forward to launching advanced safety solutions. In accordance with the same, strategic collaborations, joint ventures, and R&D program are expected to become highly commonplace in ADAS industry soon enough. Driven by a supportive regulatory spectrum and the robust requirement of technically developed automotive parts, advanced driver assistance system market size is forecast to exceed USD 67 billion by 2024.
Author Name : Sunil Hebbalkar
Automotive electronics market valuation to cross USD 400 billion by 2024, rising adoption of electric vehicles to augment the industry growth
Automotive electronics market, in recent times, is on the verge of emerging as a niche vertical, pertaining to the high demand for infotainment and security systems in vehicles. Many of the automotive giants of today are installing advanced and high-performance infotainment systems to enhance efficacy of vehicles. For instance, recently, Renesas Electronics signed a deal with the renowned automaker, Toyota Motor Corporation to implement its automotive technology in Toyota’s upcoming self-driving vehicles. This technology consists of the high-performance R-Car system-of-chip (SoC), used as the brain for advanced driver assistance systems and in-vehicle infotainment system of vehicles.
China automotive electronics market size, by application, 2017 & 2024 (USD Million)
The deployment of such systems to maintain passenger and vehicle safety is thus slated to impel automotive electronics industry share. Over the coming years, the use of real-time operating systems and the development of next-generation visualization tools for automotive in-vehicle systems is likely to increase at an exponential rate. The surging awareness among people about the benefits of autonomous vehicles will thus help augment the utilization of electronic content in automobiles, thereby fueling automotive electronics market share.
The recent advancements in digital technologies such as IoT and AR are expected to substantially enhance the performance of vehicles. In this regard, some of the tech giants are looking forward to implementing image sensors to improve functional safety features. Recently, the European Parliament announced that it may be planning to mandate the use of safety equipment for all newly manufactured cars. The safety equipment includes intelligent speed assistance, autonomous emergency braking (AEB), and seatbelt reminders. Currently, the autonomous emergency braking system is becoming more common among new cars pertaining to the growing awareness about the importance of road safety. Moreover, the deployment of norms by the European Union related to the fuel economy and emission control has encouraged automakers to use more electronic content, which will significantly stimulate Europe automotive electronics industry trends.
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Of late, regional governments have been observed to be deploying stringent rules and regulation to curb environmental pollution, mainly caused due to the release of carbon content into environment. In 2012, the American National Standards Institute (ANSI) had released a standard roadmap to deploy electric vehicles and to implement changing infrastructure across the United States. In order to comply with regulatory norms, many automotive giants and start-up companies have shifted their focus toward the development of electric vehicles. In this regard, to fulfill the increasing requirement of electronic content, most the players in automotive electronics market have been making heavy investments on the advancement of supply components. For instance, Panasonic has developed a new software in cooperation with Azapa to speed up the development cycle of products. Speaking of which, some of the well-known behemoth in automotive electronics industry are Denso, Avago Technologies, Wipro, Delphi, Continental, Bosch Group, Panasonic, and Hitachi Automotive Systems.
The rising automation and digitalization in automobiles have had a considerably positively impact on automotive electronics market trends. Tech giants have been adopting tried-and-tested strategies of joint ventures and M&As to set renewed frontiers for profitability. In fact, recently, Intel and Mobileye have signed a collaboration to develop self-driving cars. Even Panasonic is reported to have partnered with Tesla to manufacture batteries for vehicles. Strategic alliances such as the aforementioned, in conjunction with the growing electrification in automotive sector are likely to boost automotive electronics market. According to Global Market Insights, Inc., automotive electronics industry will generate a mammoth revenue of more than USD 400 billion by the end of 2024.
Author Name : Saipriya Iyer
Global Market Insights Inc. 