The global driver assistance systems market is anticipated to witness significant owing to advancements in automotive industry over the forecast period. Further, increasing buyer preference for driver assistance enabled vehicles may drive market growth. Developments in the automobile industry such as improvements in the engine and car design, which result in increased passenger and pedestrian’s safety may fuel market demand. Growing number of overcrowded parking spaces leading to increased difficulty in parking are anticipated to drive the driver assistance systems market. Further, increasing demand from elderly drivers is expected to favor market growth over the forecast period. Growing availability of driver-assistance technology in low price cars is estimated to favor the driver assistance systems market over the next few years. In addition, favorable government regulations for the use of driver assisted vehicles to avoid road accidents are expected to provide opportunity to market growth over the next few years.
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Growing need for driver monitoring systems is further anticipated to fuel the market growth. Surge in demand by OEM’s is estimated to provide positive avenues to the market growth over the next few years. Additionally, increasing requirements of tire pressure monitoring systems and blind spot detection systems are expected to fuel market growth over the next seven years. Additionally, increasing number of self-driven cars is expected to provide new opportunities to market growth.
The driver assistance systems market may be segmented into Blind Spot Detection (BSD), Lane Departure Warning System (LDWS), Park Assistance System (PAS), Night Vision System (NVS), Adaptive Cruise Control (ACC), Tire Pressure Monitoring System (TPMS). Additionally, driver assistance systems can be utilized for drowsiness monitoring, head-up display, adaptive front lighting, driver monitoring systems, and forward collision warning. Driver assistance systems technology includes image, ultrasonic, LIDAR, IR, and RADAR.
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