In many ways, assert the authors of a new report from Visiongain, advanced driver assistance systems (ADAS) are the first step on the road to semi-autonomous or fully-autonomous self-driving and driverless vehicles. But the research firm’s latest findings indicate that the global automotive ADAS market will top $18 billion this year, up notably from $16.5 billion in 2013.
Visiongain assesses that the market for automotive ADAS will record double-digit growth throughout the period 2014-2024 as ADAS becomes an increasingly strong product differentiator and assists in the development and acceptance of autonomous self-driving cars
“In 2014, Park Assistance, Rear-View Cameras, and Adaptive Front Lights applications dominate the ADAS market however, the penetration into passenger cars is relatively low despite the increasing rate of installations into the premium car manufacturers,” the report summary reads.
The report finds that the automotive ADAS market will likely be driven by the reduction of ADAS end-user application’ prices, the positive impact of government regulation for safety and the convergence of consumer demand towards semi-autonomous and fully autonomous vehicles.
These factors will enable a shift in the ADAS supply towards volume auto OEMs particularly in Europe and Japan. Additionally, they will create a favourable environment for the adoption of semi-autonomous or fully-autonomous vehicles close to the end of the forecast period.