According to a new market report published by Lucintel, the future of the global highway driving assist market looks promising with opportunities in medium and luxury segments. The global highway driving assist market is expected to grow with a CAGR of 24% from 2021 to 2026. The major drivers for this market are increase in road safety, reduction in fuel consumption, and maintenance of speed set by drivers.
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In this market, cameras, radars, ultrasonic sensors, software modules, and navigation sensors are used for highway driving assist. On the basis of comprehensive research, Lucintel forecasts that software modules will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to the gained traction of connected & autonomous vehicle technologies. The automotive embedded software has become a key area for innovation. The software module in automotive has been evolving owing to factors, such as an increase in demand for advanced driving assistance features, and government mandates, which are more focused toward the safety and emission norms for vehicles.
Within the global highway driving assist market, the adaptive cruise control segment is expected to witness the highest growth over the forecast period due to the use of satellites, mobile infrastructures or reflectors, and transmitters on the back of the other vehicles and the factors positively affecting the growth of adaptive cruise control are the upgrades in technology and increasing need for passenger safety.
North America is expected to remain the largest market and witness the highest growth over the forecast period due to the increasing demand for safety and comfort features for premium mid and luxury vehicles, increase in disposable income, and advancement in technologies for autonomous vehicles.
Emerging trends, which have a direct impact on the dynamics of the industry, include advancement in ADAS and automated driving technologies, increasing semi-autonomous vehicles, and progress in automotive industry. Continental AG, Robert Bosch GmbH, Delphi Automotive, Valeo SA, Denso Corporation, WABCO, Magna International, Mobileye, ZF Friedrichshafen AG, Autoliv Inc., Hyundai Motor Company, and Toyota Motor Corporation are suppliers of the highway driving assist market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global highway driving assist market by passenger car type, electric vehicle type, component type, autonomous level, function, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Highway Driving Assist Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global highway driving assist market by passenger car type, electric vehicle type, component type, autonomous level, function, and region, as follows:
By Passenger Car Type [Value ($ Million) from 2015 to 2026]:
Mid Segment
Luxury Segment
By Electric Vehicle Type [Value ($ Million) from 2015 to 2026]:
By Component [Value ($ Million) from 2015 to 2026]:
Camera
Radar
Ultrasonic Sensor
Software Module
Navigation
By Autonomous Level [Value ($ Million) from 2015 to 2026]:
By Function [Value ($ Million) from 2015 to 2026]:
Adaptive Cruise Control
Lane Keeping Assist
Lane Centering Assist
Collision Avoidance Assist
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
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