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Driver assistance systems market to increase at a CAGR of 20%

Press Release   •   Jul 03, 2013 09:52 BST

The driver assistance systems market has been forecast to increase at a compound annual growth rate (CAGR) of 20.1% over the next five years, increasing from a valuation of approximately $13.4 billion at the beginning of 2013, to reach a total of $33.6 billion by 2018.

According to a new report titled 'Driver Assistance Systems Market: Global Trends and Forecast to 2018,' published on companiesandmarkets.com, global demand for automobiles has been increasing at a significant rate over the past few years.

Due to the global economic downturn, the 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 from 2010, where the sales increased to 74.6 million units and then to 77.9 million units (2011).

A Driver Assistance System is a system designed to help the driver in the driving process. When designed with a safe Human-Machine Interface it should increase car safety and more generally road safety.

Currently, governments in various regions, particularly Europe and North America, are promoting advanced vehicle safety technologies. For instance, in the US, the key safety goal of the US Federal Motor Carrier Safety Administration (FMCSA) is to reduce the number and severity of commercial motor vehicle (CMV) crashes.

An additional report, titled 'Global Advanced Driver Assistance System Market 2011-2015,' has stated that over the last few years, the FMCSA has been collaborating with the Truck industry to test, evaluate and facilitate the use of onboard safety systems for CMVs in an effort to enhance the safety of all road users. Hence, various government regulations across the world are driving the Global ADAS market.

Major automobile manufacturers are introducing passenger cars with driver assistance systems to produce safe, high performing, and eco-friendly models.

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.

For more information on the driver assistance systems market, see the latest research: Driver Assistance Market

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