Highway Driving Assist Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Highway Driving Assist Market Data

Highway Driving Assist Market Trends & Growth Drivers

Technological Advancement Is Key Trend

• With the advancement in technology, there is an improvement in the accuracy and reliability of the highway driving assist system. This system uses sensors and cameras to detect objects on the road, keeps the vehicle in its lane, and maintains a safe distance from the one in the front and those behind.
• The continuous advancement makes it possible to combine this system with the connectivity features of the vehicle, which enables communication between the vehicle and the infrastructure. As the popularity of V2X solutions is growing continuously, so will the market for highway driving assist systems.
• Technological advancements in this system increase the overall user experience by minimizing errors. Additionally, the UI is now more attractive and easier to use, which allows people to change settings according to their needs.
• The system often even comes with extra features, such as voice commands, which further makes it popular among car owners.

Increasing Demand for Driver Safety Is Key Driver

• Many people lose their lives in road accidents, with approximately 1 million people dying every year, as per the WHO. Due to this, the consumer demand for advanced safety features in vehicles is continuously increasing, which propels the integration of highway driving assist systems in the vehicle.
• Governments of many countries all over the world mandate the use of safety features in vehicles to increase the safety of the passengers and pedestrians.
• These rules make it compulsory for manufacturers to provide highway driving assistance and many more safety features in vehicles.
• This system increases the safety of the automobile by providing various pieces of information and by keeping it in its lane.
• It uses AI algorithms to provide semi-autonomous driving abilities and improve the overall user experience.

Data Security Is a Key Challenge

• This system depends on the usage of interconnected technologies, such as sensors and communication networks, due to which the chances of hacking and data leakage are high. This decreases the safety and privacy of the user.
• The highway driving assistance system collects a large amount of data, such as the real-time location of vehicles and sensor data, the safety of which is crucial to prevent unauthorized access or misuse of the data.
• Cybersecurity software can increase the vehicle cost even further, which could hinder adoption by the masses.

Highway Driving Assist Market In-Depth Segmentation Analysis

Operation Analysis

• The adaptive cruise control category holds the largest market share, of 45%, in 2024. This is because it increases the safety and comfort of passengers by automatically adjusting the speed of the vehicle.
• ACC automatically decreases the speed if it detects anything coming too near, to maintain a safe distance. When the distance is sufficient, it increases the speed of the vehicle automatically, which helps lower the load on the driver’s mind and enhances the safety for everyone.
• As per studies, adaptive cruise control could help reduce 4.91% of the injuries and 5.48% of the fatalities in China related to road accidents.
• Lane-centering assistance is the fastest-growing category, with an expected CAGR of 25.5% during 2024–2030. This allows vehicles to follow its lane, which helps prevent accidents.
• It keeps the vehicle centered in the lane by detecting lane boundaries, which prevents it from leaving its lane and makes traveling safer. Additionally, it provides alerts to the user if the vehicle is going out of its lane without proper signaling, which helps increase the safety of all road users.

Below are the types of operations that were studied in this report

• Adaptive Cruise Control (Largest Category)
• Lane Centering Assistance (Fastest-Growing Category)
• Lane Keeping Assistance
• Collision Avoidance

Vehicle Type Insights

• mainly due to the good balance between features and cost, which offers the best of both worlds.
• ICE models hold the larger market share here because of the predominance of conventional cars across the globe.
• Mid-segment is also the faster-growing category, with an expected CAGR of 25.3% during 2024–2030. This is due to the increasing consumer demand for advanced safety features in their cars.
• These vehicles have ample space for families, which, combined with the technological advancements in them, make them preferred among people.
• Electric vehicles are the faster-growing sub-category due to the increasing awareness of the environment and reduction of the carbon footprint.
• Many countries' governments provide incentives for purchasing electric vehicles, which their sales rapidly in the future.

Below are the types of vehicles that were studied in this report

• Mid Segment (Larger and Faster-Growing Category)
• Luxury

Operational Technique Insights

• The automatic emergency braking category holds the largest market share, of 40%, in 2024. Due to the government rules and industry focus on the safety of passengers, automatic emergency braking is a compulsory feature in vehicles in many countries.
• As per the National Highway Traffic Safety Administration, automatic emergency braking could prevent at least 11,000 crashes, 7,700 injuries, and 170 deaths caused by accidents involving heavy vehicles every year in the U.S.
• In May 2022, the AEB feature was made compulsory in cars in the European Union because it enhances safety by automatically applying the brakes if it detects something that could cause an accident.
• Pedestrian automatic emergency braking is the fastest-growing category, with an expected CAGR of 25.6% during 2024–2030. This is due to the growing safety concerns for pedestrians.
• This technology detects pedestrians in the path of the car and applies the brakes automatic if there are chances of a collision.
• The demand for this technology is increasing due to the increment in the capabilities of automotive cameras and sensors. This has increased the accuracy of this system and enhanced the overall experience of users.

Below are the operational techniques that were studied in this report

• Automatic Emergency Braking (Largest Category)
• Pedestrian Automatic Emergency Braking (Fastest-Growing Category)
• Rear Automatic Braking
• Blind Spot Intervention

Warning Type Analysis

• The forward collision warning category holds the largest market share, of 35%, in 2024. This is because this system is compulsory in many major countries, such as India, Australia, China, Brazil, Indonesia, Germany, and France.
• A forward collision is one of the most-common types of collisions, which encourages governments to focus on reducing its chances and increasing. The FCW system alerts drivers before a collision occurs, prompting them to slow down or change lanes.
• This technology is integrated with other ADAS functionalities, such as automatic emergency braking and adaptive cruise control, to increase the overall safety of automobiles.
• Lane departure warning is the fastest-growing category, with an expected CAGR of 25.4% during 2024–2030. Accidents due to uniformed and abrupt lane exits are rather common on highways. As per the University of Michigan Transportation Research Institute, this system reduces vehicle collisions by 14%.
• This category is also growing due to consumers rising awareness of this warning system, as many of them prioritize the safety of their vehicles and themselves. Further, with advancements in technology, these systems are becoming more accurate and reliable.

Below are the types of warnings that were studied in this report

• Forward Collision (Largest Category)
• Lane Departure (Fastest-Growing Category)
• Rear Cross Traffic
• Blind Spot

Component Insights

• Navigation system map database is also the fastest-growing category, with an expected CAGR of 25.6% during 2024–2030.
• This is because this component is essential for the proper use of GPS-based navigation.
• This system provides detailed maps, consistent guidance, and important information related to the journey, which increases the overall experience of the user.
• In the European Union, the ISA has been mandatory for all new cars from July 2024. This system uses navigation map data to provide accurate speed limit information to drivers.
• The advancement in technology drives the adoption of this component rapidly by bringing about enhancement in the real-time updates and the ability to offer better routes. This component will find increasing usage as the sale of self-driving vehicles rises.

Below are components that were studied in this report

• Camera
• Radar (Largest Category)
• GPS
• Navigation System Map Database (Fastest-Growing Category)

North America Is Largest Region

• Geographically, North America dominates the market with around 50% revenue in 2024. This is due to the high consumer demand for advanced automotive technologies, rapid urbanization, and government rules for passenger safety.
• North America is the home of many multinational manufacturers and suppliers of automotive components, which results in a good supply and regular advancement in technology. Moreover, due to the high competition among OEMs, cars are being increasingly integrated these features, while being made affordable enough.
• North America is the growing significantly, with a CAGR of 25.2%, during 2024–2030. This is mainly due to the increasing awareness of road safety and the rapid adoption of new technologies.
• The increment in the disposal income of many major countries in the North American region increases the use of vehicles with advanced technologies, such as highway driving assistance systems.

The regions and countries analyzed in this report include:

• North America (Largest Regional Market)
  • U.S. (Larger and Faster-Growing Country Market)
  • Canada
• Europe
  • Germany (Largest Country Market)
  • U.K. (Fastest-Growing Country Market)
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific (APAC) (Fastest-Growing Regional Market)
  • China (Largest Country Market)
  • Japan (Fastest-Growing Country Market)
  • India
  • South Korea
  • Australia
  • Rest of APAC
• Latin America (LATAM)
  • Brazil (Largest Country Market)
  • Mexico (Fastest-Growing Country Market)
  • Rest of LATAM
• Middle East and Africa (MEA)
  • Saudi Arabia
  • South Africa (Largest Country Market)
  • U.A.E. (Fastest-Growing Country Market)
  • Rest of MEA

Market Concentration – High

Many major companies, such as Citroen UK Limited, Continental AG, and Robert Bosch GmbH, have a significant presence in the market due to their decades of experience in automotive technology. But many small players are coming up with new products to compete with these companies.

Highway Driving Assist Market News

• In August 2023, Pony.ai and Toyota collaborated with an investment of at least USD 138.25139 million on an autonomous driving venture in China.
• in June 2023, Veoneer Active Safety was acquired by Magna, is to boost the safety portfolio of Magna and enhance its global market position. This acquisition helped Magna improve sensor, software, and system engineering for advanced automotive technologies.
• In January 2023, MG Motor India announced the Next-Gen Hector, which contains 11 advanced driver assistance systems (autonomy level 2) and 75 connected car features.
• In January 2023, Sona Comstar acquired a 54% stake in Novelic. The main of this acquisition for Cornstar was to enter the ADAS sensors and software domain and capitalize on the increasing degree of vehicle automation.