PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515550
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515550
Highway Driving Assist Market size was valued at USD 2,214.2 Million in 2023, expanding at a CAGR of 24.10% from 2024 to 2032.
The highway driving assist system is a semi-automated driving system that assists the driver in monotonous driving conditions on expressways and highways by allowing the vehicle to accelerate and decelerate while remaining within predetermined limits automatically. The Highway driving assist system integrates modern safety features like lane keep assist and adaptive cruise control into a single package. Some of the new automobiles with highway driving assistance are the Cadillac CT6, Audi A8, Audi Q7, Rolls-Royce Wraith, Bentley Bentayga, Mercedes-Benz S-class, and BMW 7series.
Highway Driving Assist Market- Market Dynamics
Growing Demand for ADAS in Vehicles Fuels Highway Driving Assist MARKET GROWTH
One of the major factors driving growth in the Highway Driving Assist Market is the increasing demand for Advanced Driver-Assistance Systems in vehicles. Highway Driving Assist systems are in high demand, offering features such as adaptive cruise control and lane-keeping assist. Technologies that enable consumers to be helped on long highway drives, reduce fatigue while driving, and ensure more road safety remain to be of greater interest. Also, regulatory mandates related to the safety of the vehicles, along with rapidly growing semi-autonomous driving trends, are also fueling the adoption rate of highway driving assist systems in the automotive sector and ultimately help drive market growth.
Highway Driving Assist Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 24.10% over the forecast period (2024-2032)
Based on Type segmentation, the adaptive cruise control segment holds a prominent share of the highway driving assist market
Based on Technology segmentation, The radar sensor is expected to grow at the fastest rate.
On the basis of region, North America was the leading revenue generator in 2023
The Global Highway Driving Assist Market is segmented on the basis of Type, Technology, Vehicle Type, and Region.
The market is divided into seven categories based on Type: Blind Spot Detection, Adaptive Cruise Control, Lane Departure Warning System, Night Vision, Adaptive Front Lighting, Intelligent Parking Assist System and Others. During the projected period, the adaptive cruise control sector will account for a significant part of the highway driving assist market. Adaptive cruise control (ACC), which dynamically changes the vehicle speed while maintaining a predefined minimum distance from the corresponding car, is an important element for highway driving assistance. Adaptive cruise control is being created in response to technical developments and an increasing demand for passenger safety.
The market is divided into four categories based on Technology: Ultrasonic Sensor, Image Sensor, Lidar Sensor, and Radar Sensor. The radar sensor is expected to increase at the fastest rate due to the increasing trend of autonomous and semi-autonomous vehicles in the automobile sector.
Highway Driving Assist Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America dominates the highway driving assist market. It will continue to do so during the forecast period due to the growing adoption of highly advanced technologies, the high rate of adoption of active safety systems such as ADAS, automotive sector expansion, and increased research and development activities.
Asia Pacific is projected to be the fastest-growing region in the driver assistance system market. Many car manufacturers are incorporating driver assistance system applications into vehicles, which has considerably increased the market for advanced driving aid systems in the region.
In the Highway Driving Assist Market, several important competitors are actively contending for market share. Leading companies in this market category include Continental AG, Robert Bosch GmbH, Delphi, Valeo, and Denso Corporation. These firms are well-known for developing revolutionary highway driving assist technologies such as adaptive cruise control and lane-keeping systems. The competition in the Highway Driving Assist Market is fierce, with an emphasis on product performance, dependability, and integration with other advanced driver aid systems. Strategic collaborations, ongoing R&D efforts, and a dedication to improving driver safety and comfort drive the competitive dynamics in the Highway Driving Assist Market.
In April 2019, the ZF COPILOT intelligent advanced driver assistance system (ADAS), which the company claims will enable improved safety and driving comfort, made its maiden announcement. The system makes use of Al's power and has a wide range of sensors, enabling cars to carry out a variety of automated driving tasks, particularly on freeways.
GLOBAL HIGHWAY DRIVING ASSIST MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Continental AG
Robert Bosch GmbH,
Delphi
Valeo
Denso Corporation
Wabco
Magna International
Mobileye
ZF Friedrichshafen AG
Autoliv Inc
Hyundai Motor Company
Toyota Motor Corporation
Visteon
Mando
AVL
Aptiv
Veoneer
Others