Key Technologies and Innovations in Highway Driving Assist Market
(EMAILWIRE.COM, March 02, 2021 ) The Highway Driving Assist Market is projected to reach $10.7 billion by 2027 from an estimated $1.9 billion in 2019 at a CAGR of 23.9% during the forecast period.
Opportunities:
1 Advancement in Lidar Technology
2 Self-Driving Cars
The market is expected to witness rapid growth due to an increase in demand for road safety along with advancement in ADAS, and automated technologies are driving the growth for highway driving assist technologies. Additionally, the increase in penetration of semi-autonomous vehicles from luxury to mid-segment provides safety and relieves from monotonous and unpleasant driving to the drive on long highways and motorways which is expected to boost the demand for highway driving assist market the forecast period.
Top 10 Players:
1. Robert Bosch
2. ZF Friedrichshafen
3. Magna
4. Continental
5. Valeo
6. Visteon
7. Mando
8. AVL
9. Aptiv
10. Veoneer
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North America is home to many major automobile companies such as Ford and GM. Increasing demand for safety and comfort features for premium mid and luxury vehicles, increase in disposable income, advancement in technologies for autonomous would drive the highway driving assist the market in the North American region. North America comprises the US, Canada, and Mexico.
The US is the largest market for highway assist system in North America. In the US, many of the OEMs are working with Tire 1 and Tier 2 companies to develop autonomous vehicles. Also, the government is investing heavily in infrastructure and funding for startups.
On the other hand, Canada is a hub for the many premium vehicles brand demand. In Canada, big OEMs such as Volkswagen, Toyota, GM, Nissan, Ford, Daimler, and Tesla offer their premium models. Proximity from the US and developed infrastructure in many areas makes Canada more inclined towards autonomous vehicle demand. In 2018, Canada had 3% penetration in mid-segment cars and 5% for luxury vehicles. It is expected that the penetration rate will increase once the technology will become cheaper and more OEMs start offering such systems.
The Mexican market for premium mid and luxury vehicles is limited; also the infrastructure availability is very limited in the country, which makes it less favourable in this market. Although big OEMs such as Volkswagen, Toyota, GM, Nissan, Ford, Daimler, and BMW offers premium vehicles in the country, they do not have this feature. It is believed that Mexicos new trade agreement with the US and Canada may involve the transfer of AV technology, although there is room for improvement in infrastructure.
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Highway Driving Assist Market & Key Function:
Adaptive Cruise Control (ACC) - Adaptive cruise control (ACC), also known as autonomous cruise control, is an advanced version of cruise control. In cruise control, the vehicle is maintained at a steady speed as the system takes over the throttle. However, in ACC, the vehicle adjusts its own speed to keep a safe distance from the vehicles ahead. ACC is being incorporated by automobile manufacturers such as BMW, Audi, Mercedes-Benz, Volkswagen, Volvo, Chevrolet, Chrysler, Ford, Honda, Toyota, Lexus, and Jaguar in premium models. ACC could be laser- or radar-based and are now equipped with cameras.
Lane Keeping Assist (LKA) - Lane-keeping assist is an advanced version of a lane departure warning system. The lane-keeping assist system supports the driver by keeping the car at the centre of the lane even at high speed. The function requires the driver to keep his hands on the steering wheel. To support the longitudinal and lateral control at the same time, the function can be coupled with adaptive cruise control.
Lane Change Assist - Lane change assist function alerts the driver acoustically or haptically of potential collisions while changing lanes. The function helps reduce the risk of accidents, avoid collisions with cars in the blind spot, and prevents accidents caused by misjudgement of the speed of vehicles approaching from behind. The lane change assist function uses rear radar to detect approaching vehicles. The software installed in the vehicle collects the sensor information and alerts the driver in case of any potential collision.
MarketsandMarkets
Mr. Aashish Mehra
1-888-600-6441
newsletter@marketsandmarkets.com
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