Global Highway Driving Assist Market, By Car Type (Mid Segment and Luxury Segment), Electric Vehicle Type (BEV, HEV, PHEV and FCEV), Component (Camera, Radar, Ultrasonic Sensor, Software Module and Navigation), Autonomous Level (Level 2 and Level 3 and Above), Function (Adaptive Cruise Control, Lane Keeping Assist, Lane Centering Assist and Collision Avoidance Assist), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Highway Driving Assist Market
Data Bridge Market Research analyses that the highway driving assist market would exhibit a CAGR of 24.15% for the forecast period. Growing demand for improved and new features in the automobiles that provide greater safety and comfort, increased preferences towards the integration of advanced software in the passenger cars to redefine the passenger experience, growth and expansion of automotive industry especially in the developing economies and growing public expenditure for the rapid development of artificial intelligence technology are the major factors attributable to the growth of highway driving assist market. Therefore, the highway driving assist market value would rocket up to USD 16.47 billion by 2029.
From the name itself, it is clear that highway driving assist is a system incorporated in the automobiles that assists the driver to drive safely and avoid any kind of crashes or accidents. This technology is a subset of advance driver assist system (ADAS) that targets to counter the traffic thru keeping the vehicle at an intact distance.
Growth in the level of investments for research and development activities and rising number of road accidents will foster in growth in the market value. Rising demand for advanced driver assistance systems coupled with rising smart city projects or infrastructural development projects ensuring safe roads will also create lucrative growth opportunities for the market. Growth in the technological advancements in driver assistance systems will also foster the market growth. Growing rate of production of commercial and passenger vehicles will further carve the way for the growth of the market.
However, lack of technological expertise and limited IT and communication infrastructure in the developing and underdeveloped economies will pose a major challenge to the market growth rate. High costs involved with technological innovations and to deploy driver assistance systems will hamper the market growth rate. Further, high maintenance costs and low efficiency in challenging weather conditions will also restrict the scope of growth for the market.
This global highway driving assist market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on highway driving assist market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Highway Driving Assist Market Scope and Market Size
The global highway driving assist market is segmented on the basis of car type, electric vehicle type, component, autonomous level and function. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of car type, the highway driving assist market has been segmented into mid segment and luxury segment.
- On the basis of electric vehicle type, the highway driving assist market has been segmented into BEV, HEV, PHEV and FCEV.
- On the basis of component, the highway driving assist market has been segmented into camera, radar, ultrasonic sensor, software module and navigation.
- On the basis of autonomous level, the highway driving assist market has been segmented into level 2 and level 3 and above.
- Highway driving assist market has also been segmented on the basis of function into adaptive cruise control, lane keeping assist, lane centering assist and collision avoidance assist.
Highway Driving Assist Market Country Level Analysis
The global highway driving assist market is analysed and market size insights and trends are provided by country, car type, electric vehicle type, component, autonomous level and function as referenced above.
The countries covered in the highway driving assist market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America and Europe dominate the highway driving assist market and will continue to flourish its trend of dominance during the forecast period owing to the growing adoption of highly advanced technologies, high rate of adoption of active safety systems such as ADAS and expansion in the automotive sector and increasing research and development activities. Asia-Pacific region is set to witness unprecedented growth during the forecast period. This is because of the growth and expansion of automotive sector in this region.
The country section of the highway driving assist market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Highway Driving Assist Market Share Analysis
The highway driving assist market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to highway driving assist market.
The major players covered in the highway driving assist market report are DENSO CORPORATION, Valeo, Magna International Inc., Aptiv., AVL, Continental AG, Robert Bosch GmbH, ZF Friedrichshafen AG, SAMSUNG ELECTRO-MECHANICS, Tesla, TOYOTA MOTOR CORPORATION, Veoneer Inc., HELLA GmbH & Co. KGaA, MOBIS INDIA LIMITED., Hyundai Motor Company, Visteon Corporation, NVIDIA Corporation, Qualcomm Technologies, Inc., TOSHIBA CORPORATION and Panasonic Corporation among others.