Dallas, Texas (PRWEB) June 26, 2013
Global driver assistance system market is expected to reach 108.6 million units by 2018; Europe is estimated to lead the market followed by North America and Asia-Pacific.
The global demand for automobiles is increasing at a significant rate since past few years. Due to the global economic downturn, automobile industry witnessed a slight downfall from 2008, where global sales of the vehicles decreased to 68.1 million units from 71.2 million units (2007).
The trend continued in 2009, where global vehicle sales further decreased to 65.4 million units. However, the scenario changed since 2010, where the sales increased to 74.6 million units and then to 77.9 million units (2011). According to the recent publication from OrganisationInternationale des Constructeursd’Automobiles (OICA), the global vehicle sales in 2012 reached to 81.7 million units, of which passenger car sales were 60.5 million units. With the escalation in the vehicle fleet all over the globe, there is an increase in the number of road accidents, casualties, and deaths. This has turned the attention of governments & the automobile manufacturers towards increased vehicle and road safety.
Driver assistance systems assist (http://www.reportsnreports.com/reports/256152-driver-assistance-systems-market-by-types-by-technology-geography-global-trends-and-forecast-to-2018.html) the driver while driving. These systems utilize various technologies such as ultrasonic, image, RADAR, LIDAR, and IR to provide better safety and driving experience. These systems not only provide safety to the vehicle / occupants of the vehicle but now it has broadened its scope to pedestrian and overall road safety. Varying needs of the users such as greater safety, enhanced driving experience, superior vehicle performance, and sophisticated technologies have led to remarkable changes and developments in the driver assistance systems.
Presently, features which are not technologically advanced, like tire pressure monitoring systems, are available in a wide variety of vehicles. Quite the reverse, the hi-tech features, such as night vision, adaptive cruise control, drowsiness monitoring system, etc. are available only in few premium luxury car models. Installing these technologically advanced features at an effective cost would be challenge for automobile manufacturers in the near future. Still, the demand for driver assistance systems in OEM is estimated to increase at a significant rate in near future.
The major automobile manufacturers are introducing passenger cars with driver assistance systems to produce safe, high performing, and eco-friendly models. The key manufacturers of driver assistance system such as Continental (Germany), Robert Bosch (Germany), Denso (Japan), Valeo (France), etc. are investing on their R&D and production facility to meet the increasing demand of the driver assistance systems in the automobile production market.
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The burning issues identifies in the market are reliability and cost effectiveness of the technology and hitches in the autonomous car technology. The winning imperatives for the manufacturers are identified as collaborating types & technologies of driver assistance systems and aiming for fully autonomous cars.
Asia-Pacific region to witness highest growth for driver assistance systems
Asia-Pacific is the largest passenger cars manufacturing region in the world, estimated to produce more than 37 million passenger cars in 2013, and growing with a CAGR of 8.56% for the next five years. In terms of driver assistance systems,the region also becomes an important market considering near future growth trends in vehicle demand, improving lifestyle, and changing buyer’s preferences. Driver assistance systems will be in demand because of their importance in the congested traffic of highly populated Asia-Pacific countries. Number of Asian passenger car producers such as, Toyota, Nissan, Honda, Hyundai/Kia, etc., are offering driver assistance systems in their cars. In next few years, many countries such as China, South Korea, Japan, etc. are in a process of making few driver assistance systemsmandatory in passenger cars, hence the market is anticipated to grow with a promising growth rate in next five years.
Company Profiles (Overview, Financials, Products And Services, Strategy & Development):
1. Aisin Seiki Co. Ltd.
2. Autoliv Inc
3. Continental Ag
4. Delphi Automotive PLC
5. Denso Corporation
6. Elektrobit Corporation
7. Ficosa International S.A.
8. Freescale Semiconductor Inc.
9. Gentex Corporation
10. Hella Kgaa Hueck & Co.
11. Hitachi Ltd
12. Hyundai Mobis
13. Infineon Technologies AG
14. Magna International
15. Mando Corp.
16. Mobileye NV
17. Robert Bosch Gmbh
18. Renesas Electronics Corporation
19. Tass International
20. Texas Instruments Inc.
21. Trw Automotive Holdings Corp.
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