Commercial vehicle advance driver assistance systems (ADAS): Key market research findings
- Growing need to curb road accidents drives market growth
- TPMS accounts for a majority of the market’s revenue
- Key vendors – Continental, Bosch, Delphi Automotive, and WABCO Vehicle Control Systems
Technavio’s market research analysts predict the global market for commercial vehicle ADAS to grow at a CAGR of around 14% between 2016 and 2020. The demand for commercial vehicle ADAS spurs primarily from the need to curb road accidents. Significant progress is being registered in terms of improving road safety legislation and making vehicles safer. It has been confirmed by various experimental data on autonomous driving that incorporating ADAS systems into vehicles can lead to fewer accidents, thereby making roads, vehicles, occupants, and pedestrians safer. During 2015, the Americas dominated the global commercial vehicle ADAS market by accounting for almost 48% of the overall market share. The demand from the trucking industry in the US will fuel growth of the market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the commercial vehicle ADAS segments based on the type.
“Automotive vision systems, HMI, connectivity and sensor technology are the key determinants of the future of ADAS. Automobiles equipped with multiple ADAS features can certainly contribute to curb road accidents. For developers, the future of ADAS is determined by the penetration of four technology areas in the automotive space: human-machine interface (HMI), automotive vision systems, connectivity, and sensor technology,” says Siddarth Jaiswal, Lead Analyst, Automotive, Technavio Research.
During 2015, the TPMS segment accounted for almost 30% of the total market share to become the key revenue-generating vertical of the global market. TPMS is largely used in commercial vehicles that include light and heavy-duty vehicles as a means to curb fuel consumption and greenhouse gas emissions. TPMS effectively reduces greenhouse gas emissions and fuel consumption in the LCV and HDV fleet by about 0.2%-0.3%. The need to curb road fatalities will reflect positively on the growth of the TPMS segment of the market over the next four years.
The key vendors in the global commercial vehicle ADAS market include Continental, Bosch, Delphi Automotive, and WABCO Vehicle Control Systems. A potential challenge faced in the market that arises directly from the users of the technology is the cost associated with training of drivers and maintenance of these systems. The scarcity of technical manpower to address repair issues associated with ADAS is being felt across the globe, though OEMs have always offered easy maintenance solutions.
A more detailed analysis is available in the Technavio report, Global Commercial Vehicle ADAS Market 2016-2020.
