Global automobile market is growing at a significant rate. This growth is evident in the technological advancements and rising demand for vehicles. The increasing size of auto industry is pushing various governments and automakers to concentrate on road safety. Assistance in interpretation of the vehicle surroundings is an advanced and highly beneficial technology for road safety. Advanced driver assistance systems market is driven by growing demands for smart vehicles and road safety in the most uninterrupted manner.
Global DAS Market Segmentation and Trends
Advanced driving support technology assists the drivers during driving. This technology is designed with help of high-tech human-machine interface, which takes care of road safety and car safety. It is an umbrella term of a variety of smart systems such as in-vehicle navigation, adaptive cruise control, lane assistance, collision avoidance, night vision, intelligent speed adaptation, automatic parking, adaptive lighting, blind spot and traffic sign detection, vehicular communication, driver drowsiness detection, hill descent control and many such technologies that make driving an easy and safe experience. The global driver assistance systems market is based on the types of systems and technologies used in the vehicles.
Apart from the aforementioned types of driving assistance technology, the market is segmented in terms of technologies as well. Based on technologies, the market is segmented into image, infrared, ultrasonic, radar and lidar technologies. Geographical demands for the car safety systems also determine global trends for this market. According to the finding of recent market research reports, Europe is leading the global market, which is followed by other regions like North America and Asia Pacific. Asia Pacific region, which encompasses many developing regions, has a great potential for growth in future. Forecasting reports for the market claim about exciting business opportunities in the market from 2013 to 2018.
Researchers expect the global advanced driver assistance market to grow at an estimated CAGR of 20.10%. At this rate, the market is expected to reach $13.4 billion by the end of 2013. From $13.4 billion, the market is anticipated to reach past $33.6 billion by the end of 2018. Growing adaptation into luxury cars, rising global demand for technologically sound vehicles, increasing safety concerns from governments and vehicle manufacturers are some of the major drivers for the driving assistance systems technologies. Apart from luxury vehicles and personal cars, these technologies are now being introduced into passenger cars and heavy duty vehicles, which is opening new business channels as well.
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