The Global Highway Driving Assist Market is estimated at USD 3 billion in 2020, and is projected to reach USD 10.7 billion by 2027, growing at a CAGR of 19.9 %during the forecast period. Highway driving assist is an advanced assistance system, which provides chauffeur assistance and avoids vehicle crash.
Highway driving assist is a prominent technology of the advance driver assist system (ADAS), which is considered as the mainstay of self-driving and autonomous vehicles. Furthermore, the highway driving assist targets to counter the traffic thru keeping the vehicle at an intact distance all time, and curtailing the anxiety and fatigue on the motorist. The highway driving assist system is a partial automated driving system, which assists the chauffeur in monotonous driving conditions on expressways and highways and allows the vehicle to accelerate and decelerate automatically, also steer the vehicle within convinced constraints.
The Highway driving assist system is a combination of the advance safety systems such as lane keep assist and adaptive cruise control. Few modern vehicles deployed with highway driving assist include Cadillac CT6, Audi A8, Audi Q7, Rolls Royce Wraith, Bentley Bentayga, Mercedes-Benz S-class, and BMW 7series.
Surge in demand for advance driver assistance system in vehicles is expected to accelerate the highway driving assist market during the prognosis period. 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. However, higher cost of the system leads to limited number deployment of ADAS in medium range cars. This is expected to restraint highway driving assist market during the forecast period.
In June 2020, Robert Bosch demonstrated a fifth-generation radar unit for functions such as cross-traffic assistance and high-speed adaptive cruise control for duties up to highly automated driving. The company also presents a new braking system for highly automated driving and an updated integrated power brake; a new vehicle motion position sensor for localization during automated driving.
Key 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.
The North America market is expected to witness the most rapid growth during the forecast period, followed by Europe and APAC. The North America highway driving assist system market share is estimated to be the largest within the global industry. The Department of Transportation’s National Highway Traffic Safety Administration data says more than 37,000 lives were lost on US roads in 2016. Upon which 94% of US vehicular accidents involved human error that could be potentially avoidable.
Technologies such as highway driving assist work as a semi-autonomous feature on highways designed to take human error out of driving actions, which should help make self-driving vehicles safer than human drivers and improve overall road safety. The system reduces the driver fatigue and stress on long drives or in stop-and-go traffic on highways, motorways or freeways. Thus, it will boost demand in the coming years.
Report : Highway Driving Assist Market - By Passenger Car Type (Mid Segment, Luxury Segment), By Electric Vehicle (BEV, HEV, PHEV, FCEV), By Function (Adaptive Cruise Control, Lane Keeping Assist, Lane Centring Assist, Collision Avoidance Assist) And By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, opportunity and Forecast 2020 To 2027