Driver Assistance System companies focus on developing technologies that enhance vehicle safety and assist drivers in various ways. These systems may include adaptive cruise control, lane-keeping assist, collision avoidance, and parking assistance.
The Competitive Landscape of the Driver Assistance System Market
The journey towards autonomous vehicles is paved with the ever-evolving Driver Assistance System (DAS) market. This industry, witnesses established giants and agile innovators competing to make driving safer, smoother, and more enjoyable. Let's buckle up and explore the key strategies, players, and dynamics shaping this critical domain.
Some of the Driver Assistance System companies listed below:
Strategies Adopted by Leaders
Critical Factors for Market Share Analysis
New and Emerging Companies:
Beyond established players, the DAS market is abuzz with innovative startups offering disruptive solutions. Notable examples include:
These agile startups inject fresh ideas and challenge traditional paradigms, keeping the DAS landscape dynamic and exciting.
Industry Developments:
September 2023- Denza, a leading name in Chinese premium EV lately revealed a cost-effective version of its latest ADAS (advanced driver assistance system) in association with Nvidia, US chipmaker, as the BYD affiliate is ramping up efforts in competing against top self-driving players like Huawei and Xpend Motors.
Denza is eyeing overseas expansion as well, having made its presence within the China market of about 80,000 EVs with year-to-date deliveries as of this August. The company is predicting overseas sales to start by next year earliest including Europe, the Middle East, Southeast Asia, and Australia.
The companies stated the launch of such cost-effective assisted driving technology will cut down the barrier to a shift to intelligent mobility. This system facilitates the vehicles of Denza to navigate maximum number of highways in China along with few busy urban streets in key domestic cities.
This novel autonomous driving system in fact will allow on-ramp to off-ramp driving along with automatic lane changing particularly on Chinese highways for the company’s flagship N7 SUV. This has a price of RMB 15,000 and is powered via DRIVE Orin processor of Nvidia that can handle about 84 TOPS. N7 SUVs which has this technology will get 2 lidar sensors removed for cutting down on cost.
The companies stated that the higher-end model which costs RMB 23,000 will enable cars to function via themselves for daily commute on the bustling city streets using a feature called City NOA. The company is likely to release their Highway NOA to N7 owners beginning in December 2023.
Globally, the size of driver assistance system market is projected to reach USD 73 Billion by 2030, growing at 11.0% CAGR during the forecast period, driven by Increasing Interest in Vehicle Automation.
The driver assistance system industry is in the embryonic stage and evolving at a substantial rate. The Driver Assistance System Market is dependent on demand trends of the automobile industry in terms of safety regulations, buyer's preferences, and lifestyle. The driver assistance system plays an essential role in reducing the rate of road accidents or casualties while taking care of pedestrian safety.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Resultantly, Driver Assistance System Market witness colossal traction across the globe. Besides, continually rising economic growth worldwide, along with the increasing demand for premium passenger cars and rising vehicle & driver safety concerns, drive the market growth. The introduction of safety & environmental regulations will also help the driver assistance industry grow over the forecasted period.
Over recent years, Driver Assistance System Market have gained significant market prominence, and hence, the demand for its different types is increasing. This trend is estimated to continue for the next seven years. Various governmental approaches towards automobile, driver, and passenger safety have imposed many regulations, mandating automakers to deliver vehicles with safety features installed.
Other factors supporting the growth of the global driver assistance system market are the range of advantages offered by driver assistance system types, regulations mandating driver assistance systems, and improving economic status globally. Driver assistance systems help drivers monitoring, warning, braking & steering, and others using technologies such as human machine interface (HMI), mobile security, telematics, and others.
Automated driving and collaborative driving integrated with intelligent transportation systems (ITS), vehicle control, and vehicle to everything communications (V2X), among others, are expected to grow in popularity over the next decade. Resultantly, driver assistance systems would play an increasing role in reducing vehicle accidents, delivering quick warnings for obstacles approach and hazards such as pedestrians, lane changes, and short braking distances.
COVID 19 hit the overall automotive industry, forcing automakers to reduce the output at their production plants. The disruption caused by the epidemic at key suppliers prompted various passenger car brands to cut back production in some areas. They were working very intensively on countermeasures and alternatives in order to minimize the impact.
However, luxury vehicle manufacturers and dealers have shifted their focus from the offline lead generation model to online sales. This initiative to engage with prospective buyers through digital channels proves to be a game-changer to the market growth. Despite the coronavirus crises continue, the demand for luxury vehicles is returning to normal, and subsequently, the DAS market is too picking up gradually.
As roads are becoming busier day by day, driving risks are increasing too. This is increasing the preference for driver assistance systems among people. As a result of the proliferating popularity of DAS, automotive players are increasingly getting interested in vehicle automation. They are continually investing in advanced technological innovations. Also, the high demand for vehicles equipped with driver assistance systems fuel the expansion of the global Driver Assistance System Market
Additionally, the rise in demand for next-generation driving assistance systems with a safe human-machine interface to minimize human errors and avoid road casualties drives the growth of the Driver Assistance System Market. The incorporation of advanced technologies in the development of DAS and the improving economy worldwide are the key factors driving market growth. Advances in various data sources such as automotive imaging, LiDAR, radar, and image processing, among others, foster market growth.
Despite the high growth prospects, the Driver Assistance System Market still witnesses significant push back. High installation and maintenance costs of driver assistance systems restrict market sales. Also, growing incidences of software failures in sensors are posing major challenges in driving assistance system's adoption.
Also, increased mental under load, fatigue, and reaction times, amongst others, about safety risks associated with the role changing from driver to the operator in hands-off assistance systems would present restrictions for the market growth.
According to the AAA Foundation for Traffic Safety, advanced truck safety technologies, including video-based onboard safety monitoring systems, lane-departure warning systems, automatic emergency braking, and air disc brakes, have the potential to minimize the rate of truck-related collisions a year.
In another development, representatives from the automotive industry have proposed, at the UNECE, to regulate Level 2 hands-off lane-keeping assistance systems, aiming to keep the vehicle in the driving lane without requiring drivers to use their hands on the steering wheel. Also, the rising governmental focus on driver training to transition to autonomous vehicles would promote DAS features.
The Driver Assistance System Market report is segmented on the basis of types, technology, and regions.
Based on type, Driver Assistance System Market has been segmented into adaptive cruise control (ACC), intelligent park assist system (IPAS), lane departure warning system (LDWS), driver drowsiness system, blind-spot detection (BSD) system, tire pressure monitoring system (TPMS), night vision, global positioning system, adaptive front lighting, and others.
Among these, the ACC segment accounts for the largest market share. The driver drowsiness system segment accounts for the second-largest segment, which is projected to grow further at 27.69% CAGR during the forecast period. On the other hand, the IPAS segment accounted for USD 1828 million in 2018, and it is expected to post an impressive CAGR during the assessment period.
APAC leads the Global Driver Assistance System Market
The Asia Pacific region dominates the global driver assistance system market, majorly due to the rapidly flourishing luxury vehicle market and increasing vehicle production. Besides, increasing awareness of the advantages of vehicle and driver safety systems impacts market growth positively. The APAC luxury vehicle market is anticipated to grow rapidly during the forecast period.
Developing economies, such as Japan, China, South Korea, and India, account for the largest market share due to the proliferating luxury vehicle demand and improving the lifestyle of the population in this region. Moreover, the well-established automobile industry in this region creates substantial opportunities for market players. Furthermore, increasing vehicle maintenance costs and safety concerns influence regional market growth.
With the mandatory regulations in the region for using certain driver assistance systems, Europe is estimated to exponentially drive the global Driver Assistance System Market during the forecast period. Additionally, the large presence of luxury car manufacturers in this region boosts the growth of the market.
Also, the increasing demand for technologically advanced vehicles and stringent passenger and vehicle safety regulations in this region creates substantial demand. The driver assistance system market in the European region is anticipated to grow significantly during the assessment period.
Highly competitive, the Driver Assistance System Market appears fragmented with the presence of several notable industry players. These players initiate strategic moves such as mergers & acquisitions, collaboration, innovation, and brand reinforcement to gain a larger competitive share.
Mobileye (Intel):
Continental:
Bosch:
For the scope of the research, the Driver Assistance System Market report is segmented into,
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