Transparency Market Research in its new report titled, “Highway Driving Assist Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the highway driving assist market. The TMR report anticipates that the surge in demand for advance driver assistance system in vehicles will drive the highway driving assist market during the forecast period i.e, 2018-2026. Progression and expansion in automotive industry is not restricted to only engine and design, but also concentrate the safety of a motorist, vehicle as well as pedestrian. Road crash occur due to driver errors and can be avoided thru the incorporation of the highway driving assist system, which substantially reduces the security concern, rises safety on highway, and diminishes accidents of the vehicle. The benefits mentioned above are also expected to boost the demand for automotive highway driving assist system during the forecast period, says the report.
The TMR report has segmented the highway driving assist market based on components, application, vehicle type, components sales channel, and region. In terms of components, the highway driving assist market is segregated into five segments. The sensors segment accounts for a major share of the market. This is due to the increased number of sensors deployed owing to their function of providing input to the engine module. Sensors receive information in the form of signals and convert them into readable inputs to the electronic control unit, which is responsible for the action performed by the system. Based on application, the highway driving assist market is classified into three segments. In terms of vehicle type, the highway driving assist market is bifurcated into passenger vehicle and commercial vehicle. The passenger vehicle segment accounted for a significant share of the market owing to the increasing demand for passenger vehicles globally, primarily for local and intercity transport. The passenger vehicles segment is sub-segmented into hatchback cars, sedans, multi-purpose vehicles, and sports utility vehicles. Long route drives and personal safety are key factors that are likely to drive the global highway driving assist market during the forecast period.
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Based on components sales channel, the highway driving assist market is divided into two segments. In terms of geography, the highway driving assist market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among regions, North America and Europe account for a major share of the global highway driving assist market owing to the high rate of adoption of active safety systems such as ADAS and expansion in the automotive sector in these regions. The policies enacted by the European Union on safety standards and incorporation of ADAS in modern vehicles are expected to remain a key factor in the region that is likely to drive the highway driving assist market in the region during the forecast period. Automotive industries in this region are focusing on safety applications, by providing vehicle-based intelligent safety systems such as highway driving assist, which are expected to improve road safety in terms of crash avoidance, crash harshness protection, and post-crash phases.
Some of the major players operating in the global highway driving assist market include Continental AG, Robert Bosch GmbH, Delphi, Valeo, Denso Corporation, Wabco, Magna International, Mobileye, ZF Friedrichshafen AG, Autoliv Inc., Hyundai Motor Company, and Toyota Motor Corporation.
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