Top shelf automotive technology has always been the domain of the one percent, with major advances in the field generally out of the financial reach of the rest of the world. However, this is about to change, as TechNavio analysts point out that advanced driver assistance systems (ADAS) might soon be a reality for the rest of us.
The automobile industry is witnessing major demand for ADAS, as consumers push for smarter and safer vehicles. These driver assistance systems provide a human machine interface (HMI) that helps drivers be more aware of their surroundings. This can be anything from blind spot detection and semi automatic parking to adaptive cruise control and forward collision warning.
For example, lane departure warning systems offer a HMI that integrates camera systems to monitor road markings and determines whether the vehicle is staying in the lane. While lane departure systems only account for a small part of the overall ADAS market, this safety feature is really garnering some attention, with the Global Lane Departure Warning System Market projecting growth at a CAGR of 25.86 percent from 2014-2018.
But until recently, the high cost of camera and radar based systems seriously limited ADAS adoption among lower cost vehicle manufacturers.
According to analysts, these technologies “are initially adopted in niche segments like the premium vehicles segment before being introduced in the low-cost vehicles segment, which indirectly limits the production volume.”
However, TechNavio analysts have found that market trends are starting to point in a very different direction.
“The market is expected to witness increased penetration in the low-cost cars segment in the coming years. Suppliers such as Continental AG and Robert Bosch GmbH are working closely with OEMs right from the product concept to the development of low-cost ADAS for the medium-sized and compact cars segments, which should ultimately reduce the price of ADAS,” say TechNavio analysts.
Another interesting development is the increased uptake of these systems in countries such as India and China as awareness about vehicle safety spreads in these areas.
According to TechNavio analysts, “geographically, India has the highest number of the deaths due to road accidents, surpassing even China, which has the highest population in the world, and the US, which has more vehicles than India. Hence, the need for advanced safety systems in automobiles has been on the rise, forcing automobile manufacturers to install better safety systems.”
Increasing public awareness of these systems will create greater need for them in the low-cost vehicle market, making safer roads a reality for everyone.
For more view our Global Lane Departure Warning System Market 2014-2018 report.
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- Global Automotive Park Assist Systems Market 2014-2018
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- Global Automotive Human Machine Interface (HMI) Market 2014-2018
