LONDON--(BUSINESS WIRE)--The global automotive advanced driver assistance system (ADAS) market is expected to grow at a CAGR of close to 22% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global automotive advanced driver assistance system market by technology (AEBS, TPMS, and PAS) and by vehicle type (commercial vehicle and passenger cars). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: growing safety concerns in the automotive ecosystem
Along with the increasing number of vehicles globally, the average distance covered by passengers is also on the rise as more people are using cars for long journeys. Mobility forms an important aspect of industrial competitiveness but has got a price attached to it in terms of environment, sustainability, and safety. There has been active participation by the automotive industry on improving the road safety by preventing accidents and reduction in injuries. Human errors are the prime causes of accidents; hence, majority of the safety measures are focused on the drivers.
Active safety system and many other technical measures work effectively in preventing accidents by warning the driver to take precautions before an occurrence. Human errors like drowsiness, loss of concentration, and fatigue leads to majority of the car accidents. Some of the common errors also include activities like messaging, surfing, and speaking on the phone while driving.
According to a senior analyst at Technavio for automotive electronics research, “Automobile safety is evolving as an important feature for both customers and vehicle manufacturers. BSD, LDWS, and PAS are some of the safety systems available in the market. At present, these safety systems come at a higher price, but with increasing demand and continuous innovation in the safety systems, the costs are expected to reduce during the forecast period.”
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Market trend: growing popularity of CMOS sensors in camera-based ADAS
Camera modules would be the most preferred choice for enabling driver assistance systems in the modern vehicles, owing to the increasing penetration levels of wireless and safety technologies. The increasing demand for camera modules also gives rise to the need for a reliable camera sensor, which possesses the ability to process the image conversion and can provide clear images in undesirable conditions. In recent years, this demand has led to developments in the camera module sensor technology.
Market challenge: ADAS technologies are still expensive to gain wider adoption
The complex image processing required by systems, which takes input from radars, cameras, and LiDAR has led to an increase in prices of ADAS. Also, the high costs associated with the procurement and maintenance has limited the usage of ADAS technologies to luxury vehicles. For example, ACC, collision avoidance system, AEBS among others cost more than USD 1,000 each; hence, these are not available for low-cost vehicles. Safe Drive Systems, an aftermarket collision avoidance systems provider's premier system has an installation cost of USD 1,100, which is majorly used in luxury vehicles.
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