PUBLISHER: Allied Market Research | PRODUCT CODE: 1365575
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365575
"The Advanced Driver Assistance Systems Market is likely to experience a significant growth rate of 13.0% from 2023-2032 owing to the high demand for safety features and increased demand for comfort while driving" - Allied Market Research.
The Advanced Driver Assistance Systems (ADAS) Market encompasses technologies and systems that aim to enhance vehicle safety and efficiency by assisting drivers. These solutions rely on a combination of sensors, cameras, radars, and other advanced technologies to continuously monitor the vehicle's surroundings, identify potential dangers, and deliver real-time information to the driver.
Vehicle manufacturers recommend the use of adequate air pressure to ensure safety and fuel economy. Air pressure below the recommended level, i.e., under-inflation, could lead to high heat generation resulting in wear & tear, and blowout of tires and loss of control. Tire pressure monitoring system (TPMS) is an electronic system used for monitoring the air pressure in tires. The purpose of the TPMS is to warn the driver in case of high or low tire pressure by illuminating light.
The demand for tires that improve fuel efficiency has increased in recent years. Thus, tire manufacturers have focused on upgrading the existing technologies to improve traction, safety, and mileage. It is crucial to maintain optimum pressure in tires for safe driving, optimal fuel efficiency, and maximizing tire life. TPMS helps to provide greater fuel economy, increases vehicle safety and overall reduces CO2 emissions. For instance, in October 2022, Tymate Tire Pressure Monitoring System launched its new driving safety solutions Tymate M7-3 with 4 sensors. It has a collection of alarm modes such as fast leak alarm, high-temperature alarm, high/low-pressure alarm, and sensor low voltage alarm. This significantly decreases the risk while driving and protects driver against an extensive range of risks.
There are two types of TPMSs used in the industry, namely direct and indirect systems. Direct TPMS have been gaining popularity as compared to indirect TPMS, due to the inability of the latter to cater to requirements postulated in the TREAD act. TPMS plays a vital role in reducing the probability of an accident. The TPMS software and circuitry detect a malfunction within 20 minutes, which is denoted by the indication of malfunction illumination lamp (MIL). A reduction in the cost of resynchronization tools and decreased probability of the sensors to being damaged during mounting/demounting act as key opportunities for the adoption of TPMS in the market. The battery provided with the TPMS sensors is rarely serviceable and requires replacement of the entire sensor when the battery drains out. The addition of replaceable batteries into TPMS is expected to supplement the market growth
The advanced driver assistance systems market is segmented on the basis of system type, sensor type, vehicle type, and region. Based on system type, it is segmented into tire pressure monitoring system (TPMS), drowsiness monitor system, intelligent parking assist system (IPAS), adaptive cruise control system, blind spot object detection system, lane departure warning system, adaptive front-lighting system, and others. On the basis of sensor type, it is classified into image sensors, LiDAR sensors, ultrasonic sensors, infrared (IR) sensors, radar sensors, and lasers. By vehicle type, it is categorized into passenger cars, light commercial vehicles, buses, and trucks. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some major companies operating in the market include: Autoliv Inc., Continental AG, DENSO Corporation, Magna International Inc., ROBERT BOSCH GMBH, Valeo, NXP Semiconductors, Panasonic Corporation, Renesas Electronics Corporation, and Texas Instruments.
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