As Advanced Driver Assistance Systems become more prevalent in the vehicle industry, their market value will grow at an exponential rate, a new study from ABI Research has found.
This year alone, the market value of Advanced Driver Assistance Systems (ADAS), which are built by vendors, is expected to hit $10 billion, the research firm reported today. ABI Research forecasts the ADAS market to reach a value of $130 billion in 2016.
Advanced Driver Assistance Systems offer several important functions for drivers, including adaptive cruise control that speeds up or slows down the car based on road conditions; warnings when the vehicle starts to drift into another lane; and low-speed collision mitigation. ADAS has been available in some luxury vehicles for well over a decade. However, this year, ADAS will start making its way to "higher-volume" cars, ABI Research says, including the Ford Focus and Mercedes Benz C-Class.
The shift to more popular cars is the result of the improvement ADAS has undergone over the years. Aside from delivering better functionality, the systems are becoming easier to produce. That combination of better performance and lower production cost is helping to bring more car makers into the ADAS game.
New features in ADAS systems are also helping to attract new-car buyers. As ABI Research pointed out, simple warnings when a car drifts into another lane are no longer the norm for ADAS. Now, automakers are installing systems that can turn the car back into the lane. The systems are also capable of maintaining speed limit information to keep drivers informed.… Read more