ADAS market is projected to reach $60bn by 2026
As per a research report by Global Market Insights, the advanced driver assistance system market is likely to exceed a valuation of $60bn by the end of 2026. Growing number of research and development activities centred around integrating technologies like AI to enhance passenger safety is stimulating the development of new ADAS systems.
The advanced driver assistance systems form an integral and intelligent cog of the automobile interiors. These systems assist the main driver in ample ways by providing them the vital information about traffic, roadblock, congestion levels, suggested routes, and others. Furthermore, ADAS are also used to monitor the fatigue and distraction levels of the human driver thereby developing precautionary alerts for safe and sound driving. Evidently, the driver assistance systems are making way for the automated driving in this era of living.
Increasing vehicle safety regulations and standards globally will influence the advanced driver assistance system market trends in the coming years. To leverage competitive advantage, various companies form strategic agreements while introducing advanced technologies in the market. For an instance, Velodyne Lidar bought Mapper.ai in July 2019 in a view to integrate mapping and localisation software into its ADAS applications.