The global ADAS market is growing, due to increasing demand for safety and comfort features in the vehicles, government regulations and initiatives related to vehicle safety, and growth in the number of high net worth individuals. The advancement in technology has been laying opportunities for the global market, as the customers like to upgrade their vehicles into a more integrated version.
Technology up gradation is the key for a company’s growth in the ADAS market. The existing products are being replaced by their newer versions, as consumers are more inclined towards the products with an up graded technology. Continental launched electronic horizon (eHorizon) in 2015, whose functioning is based on the principle of cloud sourcing that develops cars as moving sensors and allows exchange of data between the cloud and the vehicle. Autoliv launched a driver assistance product in 2014 that provides a light-based touchless-touch sensing with visual guidance. It is also an alternative to mechanical switches in the automotive. During the same year, Audi introduced adaptive cruise control system with the launch of its Q7 model. It also reduces the fuel consumption of the vehicle on interurban roads by around 10%.
In 2014, Magna launched EYERIS Gen 2.5 vision system. The system has features, such as lane departure warning, traffic sign recognition, forward collision, lane keeping assistance, glare-free high beam and collision mitigation. BMW launched active cruise control in 2014 that keeps the user’s vehicle at a constant distance from the vehicles in the front. In the system, the vehicle speed becomes constant within a range of 30 – 210 km/hour.
With the advancement in technology, the demand for safety and comfort features in the vehicles has been increasing. The improvement in technology of sensors has led to development of several electronics equipment. This is encouraging the vehicle manufacturers to equip their vehicles with advanced features. The applications of ADAS, such as Adaptive Cruise Control and Parking Aid Systems have been introduced to provide comfort to the drivers. Tire pressure monitoring system (TPMS) automates the pressure check in the vehicle tires.
The advancement in technology has been increasing the numbers of connected cars. Such cars are safer as compared to the standard passenger cars, since several equipment promoting vehicle safety are integrated with the vehicle. However, the earlier regulations related to vehicle safety were moderate and not mandatory. In the recent past, the government regulations towards vehicle safety have become strict and the vehicles driven in most of the developed countries are required to be equipped with safety features, such as ADAS. The European Commission (EC) has targeted to reduce the road traffic accidents by 50% in the years to come. The National Highway Traffic Safety Administration (NHTSA) in the U.S. has issued a mandate called Federal Motor Vehicle Safety Standards (FMVSS), according to which the vehicle manufacturers and equipment must conform and certify compliance related to vehicle safety. These initiatives and regulations are driving the growth of the global ADAS market.
The HNIs are the most prospective customers of premium cars, equipped with ADAS. A significant growth in the numbers of HNIs has been witnessed during the recent past, which is also fuelling the demand for ADAS in the global market. The number of HNIs in countries such as China, India, France, Italy, Russia, Switzerland, and Indonesia has grown significantly during the recent past. According to a wealth report published by Capegemini and Royal Bank of Canada (RBC), there were approximately 2 lakh HNIs in India, in 2014, which increased from 1.3 lakh in 2009. This is also reflected in the increasing ownership of premium vehicles in these countries.
The key players in the global ADAS market include Magna International Inc, Autoliv Inc., Continental AG, Robert Bosch GmbH, Valeo, Denso Corporation, Ford Motors Company, BMW AG, and Audi AG.
"The publication added to our knowledge and was useful to build our strategies. We are impressed by the post purchase service, especially the customization service provided by the analysts"
"I appreciate the turnaround time for our ad hoc request. The deliverable received was as per our expectation. We would be glad to work with you again."
“The analysts of your company are just too good, and they’ve just been so kind in their support. Hats off to their approach, and looking forward to work on more projects with you.”
“P&S offered us with great extensive research, each time we required. The accuracy of delivery, content, and research has been highly appreciated by our company.”
“I’m so glad to have found the company while goggling. The people are very transparent in their approach, and I liked all of that, especially customer service, and timely delivery.”
“Great team of healthcare industry analysts, and I’ve always got the research I looked for. Great Job..!”