Driver Assistance System Market Research Information By Type (Adaptive Cruise Control (ACC), Lane Departure Warning System (LDWS), Driver Intelligent Park Assist System (IPAS), Drowsiness System, Blind Spot Detection (BSD) System, Night Vision, Tire Pressure Monitoring System (TPMS), Adaptive Front Lighting, Positioning System, Others), By Technology (Ultrasonic Sensor, Image Sensor, Radar Sensor, Others) and By Region (North America, Europe, Asia Pacific, RoW) - Industry Size, Share and Forecast till 2030

Driver Assistance System Market Size and Overview

Globally, the size of driver assistance system market is projected to reach USD 73 Billion by 2030, growing at 11.0% CAGR during the forecast period, driven by Increasing Interest in Vehicle Automation.

The driver assistance system industry is in the embryonic stage and evolving at a substantial rate. The Driver Assistance System Market is dependent on demand trends of the automobile industry in terms of safety regulations, buyer's preferences, and lifestyle. The driver assistance system plays an essential role in reducing the rate of road accidents or casualties while taking care of pedestrian safety.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Resultantly, Driver Assistance System Market witness colossal traction across the globe. Besides, continually rising economic growth worldwide, along with the increasing demand for premium passenger cars and rising vehicle & driver safety concerns, drive the market growth. The introduction of safety & environmental regulations will also help the driver assistance industry grow over the forecasted period.

Over recent years, Driver Assistance System Market have gained significant market prominence, and hence, the demand for its different types is increasing. This trend is estimated to continue for the next seven years. Various governmental approaches towards automobile, driver, and passenger safety have imposed many regulations, mandating automakers to deliver vehicles with safety features installed.

Other factors supporting the growth of the global driver assistance system market are the range of advantages offered by driver assistance system types, regulations mandating driver assistance systems, and improving economic status globally. Driver assistance systems help drivers monitoring, warning, braking & steering, and others using technologies such as human machine interface (HMI), mobile security, telematics, and others.

Automated driving and collaborative driving integrated with intelligent transportation systems (ITS), vehicle control, and vehicle to everything communications (V2X), among others, are expected to grow in popularity over the next decade. Resultantly, driver assistance systems would play an increasing role in reducing vehicle accidents, delivering quick warnings for obstacles approach and hazards such as pedestrians, lane changes, and short braking distances.

COVID-19 Analysis

COVID 19 hit the overall automotive industry, forcing automakers to reduce the output at their production plants. The disruption caused by the epidemic at key suppliers prompted various passenger car brands to cut back production in some areas. They were working very intensively on countermeasures and alternatives in order to minimize the impact.

However, luxury vehicle manufacturers and dealers have shifted their focus from the offline lead generation model to online sales. This initiative to engage with prospective buyers through digital channels proves to be a game-changer to the market growth. Despite the coronavirus crises continue, the demand for luxury vehicles is returning to normal, and subsequently, the DAS market is too picking up gradually.

Driver Assistance System Market Dynamics

Market Drivers

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  Increasing Interest towards Vehicle Automation to Drive the Driver Assistance System Market

  
  

As roads are becoming busier day by day, driving risks are increasing too. This is increasing the preference for driver assistance systems among people. As a result of the proliferating popularity of DAS, automotive players are increasingly getting interested in vehicle automation. They are continually investing in advanced technological innovations. Also, the high demand for vehicles equipped with driver assistance systems fuel the expansion of the global Driver Assistance System Market

Additionally, the rise in demand for next-generation driving assistance systems with a safe human-machine interface to minimize human errors and avoid road casualties drives the growth of the Driver Assistance System Market. The incorporation of advanced technologies in the development of DAS and the improving economy worldwide are the key factors driving market growth. Advances in various data sources such as automotive imaging, LiDAR, radar, and image processing, among others, foster market growth. 

Market Restraints

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  High Installation and Maintenance Cost to Impede Driver Assistance System Market Growth

  
  

Despite the high growth prospects, the Driver Assistance System Market still witnesses significant push back. High installation and maintenance costs of driver assistance systems restrict market sales. Also, growing incidences of software failures in sensors are posing major challenges in driving assistance system's adoption.

Also, increased mental under load, fatigue, and reaction times, amongst others, about safety risks associated with the role changing from driver to the operator in hands-off assistance systems would present restrictions for the market growth.

Cumulative Growth Analysis

According to the AAA Foundation for Traffic Safety, advanced truck safety technologies, including video-based onboard safety monitoring systems, lane-departure warning systems, automatic emergency braking, and air disc brakes, have the potential to minimize the rate of truck-related collisions a year.

In another development, representatives from the automotive industry have proposed, at the UNECE, to regulate Level 2 hands-off lane-keeping assistance systems, aiming to keep the vehicle in the driving lane without requiring drivers to use their hands on the steering wheel. Also, the rising governmental focus on driver training to transition to autonomous vehicles would promote DAS features.

Driver Assistance System Market Segment Overview

The Driver Assistance System Market report is segmented on the basis of types, technology, and regions.

Based on type, Driver Assistance System Market has been segmented into adaptive cruise control (ACC), intelligent park assist system (IPAS), lane departure warning system (LDWS), driver drowsiness system, blind-spot detection (BSD) system, tire pressure monitoring system (TPMS), night vision, global positioning system, adaptive front lighting, and others.

Among these, the ACC segment accounts for the largest market share. The driver drowsiness system segment accounts for the second-largest segment, which is projected to grow further at 27.69% CAGR during the forecast period. On the other hand, the IPAS segment accounted for USD 1828 million in 2018, and it is expected to post an impressive CAGR during the assessment period.

Regional Analysis

APAC leads the Global Driver Assistance System Market

The Asia Pacific region dominates the global driver assistance system market, majorly due to the rapidly flourishing luxury vehicle market and increasing vehicle production. Besides, increasing awareness of the advantages of vehicle and driver safety systems impacts market growth positively. The APAC luxury vehicle market is anticipated to grow rapidly during the forecast period.

Developing economies, such as Japan, China, South Korea, and India, account for the largest market share due to the proliferating luxury vehicle demand and improving the lifestyle of the population in this region. Moreover, the well-established automobile industry in this region creates substantial opportunities for market players. Furthermore, increasing vehicle maintenance costs and safety concerns influence regional market growth.

With the mandatory regulations in the region for using certain driver assistance systems, Europe is estimated to exponentially drive the global Driver Assistance System Market during the forecast period. Additionally, the large presence of luxury car manufacturers in this region boosts the growth of the market.

Also, the increasing demand for technologically advanced vehicles and stringent passenger and vehicle safety regulations in this region creates substantial demand. The driver assistance system market in the European region is anticipated to grow significantly during the assessment period.

Driver Assistance System Market Key Player & Competitive Landscape

Highly competitive, the Driver Assistance System Market appears fragmented with the presence of several notable industry players. These players initiate strategic moves such as mergers & acquisitions, collaboration, innovation, and brand reinforcement to gain a larger competitive share.

List of Key Companies covered in this report

• Gentex Corporation (US)


• Delphi Automotive Plc. (UK)


• Autoliv Inc. (Sweden)


• Hitachi Ltd (Japan)


• Continental AG (Germany)


• Magna International (Canada)


• Hella Kgaa Hueck & Co. (Germany)


• Robert Bosch Gmbh (Germany)


• Texas Instruments Inc. (US)


• Renesas Electronics Corporation (Japan)

Driver Assistance System Industry Developments

Mobileye (Intel):

• October 24, 2023- Launched its "EyeQ Ultra" chip specifically designed for Level 4 and 5 autonomous driving.


• August 17, 2023- Partnered with Ford and Stellantis for ADAS and autonomous driving software development.

Continental:

• October 18, 2023- Unveiled its "ADAS Sensor Kit" offering a comprehensive suite of sensors for various ADAS applications.


• July 6, 2023- Acquired Israel-based Ottomatika, strengthening its autonomous driving software capabilities.

Bosch:

• September 5, 2023- Expanded its "Highway Pilot" ADAS system with enhanced traffic jam and lane change assistance features.


• June 15, 2023- Partnered with Huawei to develop ADAS solutions for the Chinese market.

Driver Assistance System Market Segment Insights

For the scope of the research, the Driver Assistance System Market report is segmented into,

Driver Assistance System Type Outlook

• Adaptive Cruise Control (ACC)


• Lane Departure Warning System (LDWS)


• Driver Intelligent Park Assist System (IPAS)


• Drowsiness System


• Blind Spot Detection (BSD) System


• Night Vision


• Tire Pressure Monitoring System (TPMS)


• Adaptive Front Lighting, Global Positioning System


• Others

Driver Assistance System Technology Outlook

• Ultrasonic Sensor


• Image Sensor


• Radar Sensor


• Others [Sensors (Lidar Sensors and IR Sensors)

Driver Assistance System Region Outlook

• North America


• Europe


• Asia Pacific


• Rest of the World (RoW)