The Highway Driving Assist Market size was valued at USD 3.1 billion in 2021 and is expected to exhibit a CAGR of 22.9% the forecast period. The increase in road safety, as well as automated driving technologies with the decreasing consumption of fuel, will drive the overall growth of the market.
The highway driving assist system comprises adaptive cruise control and advanced safety features like lane hold assist in a single package. The highway driving assist system is basically a semi-automated driving system that helps the drivers even in the harsh driving conditions in the highways and expressways. They allow the car to accelerate and deaccelerate and then move the car within the required limits.
The highway driving assist market experienced a negative impact with the onset of COVID 19. The market was evolving due to the research and development. With the emergence of the pandemic, the manufacturing of vehicles was stopped, which disrupted the supply of highway driving assists in vehicles. The shortages of labour owing to the social distancing norms have affected the production of hardware, which are required for the manufacturing of highway driving assist.
The rising demand for vehicle automation, increasing investment towards the advanced technological features, and the demand for advanced driver assistance systems (ADAS) are the primary driving factors of the market.
In addition, the increase in the number of road accidents due to human errors and increasing demand for safety features in vehicles are the other factors that are driving the market. On the other hand, the maintenance cost and failures in sensors, will affect the overall growth of the market.
TABLE 1: GLOBAL HIGHWAY DRIVING ASSIST MARKET OVERALL SNAPSHOT
Segmentation
The global highway driving assist market is segmented into function, vehicle type, propulsion type, component, autonomy, car type and region.
FIGURE 1: GLOBAL NEW HIGHWAY DRIVING ASSIST MARKET OVERALL SNAPSHOT
Global Highway Driving Assist Market, by Function
Based on the function, the global highway driving assist market is segmented into lane centring assist, lane-keeping assist, adaptive cruise control, and collision avoidance assist. Among these, adaptive cruise control holds the largest market share over the forecast period. As it controls the speed of the vehicles by keeping a predefined minimum distance from the corresponding vehicle, adaptive cruise control feature is the main feature that is required for highway driving.
Global Highway Driving Assist Market, by Vehicle Type
Based on the vehicle type, the market is segmented into passenger car and commercial car. Among these, the passenger car segment holds the largest market share during the forecast period owing to the increasing demand for the passenger vehicles for the intercity and local transport. Personal safety and long routes are two major factors, which are expected to drive this segment growth over the forecast period.
Global Highway Driving Assist Market, by Propulsion Type
Based on the propulsion type, the global highway driving assist market is segmented into BEV (Battery Electric Vehicle), FCEV (Fuel Cell Vehicle) and PHEV (Plug in Hybrid Electric Vehicle). Among these, the BEV segment holds the largest market share during the forecast period due to the increasing number of sales of highway driving assist.
Global Highway Driving Assist Market, by Component
On the basis of component, the global highway driving assist market is segmented into camera, ultrasonic sensors, radar, software module, and others. The software module holds the largest market share during the forecast period. The automotive software market is growing exponentially, and radar software module is considered as the core area for innovation as connected vehicle technologies gain traction.
Global Highway Driving Assist Market, By Autonomy
Based on the autonomy, the market is segmented into Level 2, and above level 2. Above level 2 segment is anticipated to hold the largest market share during the forecast period. The growth of the segment is due to the increasing demand for such vehicles from the consumers. With the digitization the market has shifted to the self-driving vehicles, which help the drivers to take their hands off from the steering wheels.
Global Highway Driving Assist Market, By Car Type
Based on car type, the market is segmented into mid and luxury segment. Among these, the mid segment holds the largest market share during the forecast period. There is an increasing number of sales of such vehicles as they are integrated with certain equipment with high driving capacity.
Global Highway Driving Assist Market, By Region
Based on the region, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Among these, North America holds the largest market share. Due to the increasing adoption of active safety systems like expansion and ADAS in the automotive sectors in this region.
The automotive industries are mainly focusing on safety applications by offering vehicle-oriented intelligence safety systems like highway driving assist, which are expected to improve the road safety related to the crash harshness protection, crash avoidance, and post-crash phases.
TABLE 2: GLOBAL HIGHWAY DRIVING ASSIST MARKET OVERVIEW
Recent Developments in The Global Highway Driving Assist Market
- December 2020: Hitachi Automotive Systems Ltd. has announced that its stereo camera has been used by Suzuki Motor Corporation for its mini vehicles along with its advanced features.
- November 2020: Luminar Technologies has made an announcement that it would provide laser-based LIDAR sensors for the self-driving vehicles which are launched by Intel Corp’s subsidiary named Mobileye.
- May 2020: Nvidia Corp is planning to enter in the self-driving technology for assisting cars with automated cruise control, lane-keeping and other driver assistance features.
- October 2019: Hyundai Motor Group has introduced a machine learning-based smart cruise control technology to integrate the driver’s patterns into its self-driving behaviour.
FIGURE 2: GLOBAL HIGHWAY DRIVING ASSIST MARKET (USD BILLION), 2021-2030
What Does This Report Provide?
This report provides a detailed understanding of the global highway driving assist market from qualitative and quantitative perspectives during the forecast period. The major market drivers, challenges, and opportunities for the global new highway driving assist market have been covered in the report. This report further includes the market shares of the leading companies operating in the global market, along with their production capacities and the growth strategies adopted by them.
Market Segmentation
By Function
- Lane Centring Assist
- Lane-Keeping Assist
- Adaptive Cruise Control
- Collision Avoidance Assist
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Propulsion Type
- BEV
- FCEV
- PHEV
By Component
- Camera
- Ultrasonic Sensor
- Radar
- Software Module
- Others
By Autonomy
- Level 2
- above Level
By Car Type
- Mid
- Luxury
By Region:
North America Highway Driving Assist Market
- North America, by Country
- U.S.
- Canada
- Mexico
- North America, by Function
- North America, by Vehicle Type
- North America, by Propulsion Type
- North America, by Component
- North America, by Autonomy
- North America, by Car Type
Europe Highway Driving Assist Market
- Europe, by Country
- Germany
- Russia
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Europe, by Function
- Europe, by Vehicle Type
- Europe, by Propulsion Type
- Europe, by Component
- Europe, by Autonomy
- Europe, by Car Type
Asia Pacific Highway Driving Assist Market
- Asia Pacific, by Country
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia Pacific
- Asia Pacific, by Function
- Asia Pacific, by Vehicle Type
- Asia Pacific, by Propulsion Type
- Asia Pacific, by Component
- Asia Pacific, by Autonomy
- Asia Pacific, by Car Type
Middle East & Africa Highway Driving Assist Market
- Middle East & Africa, by Country
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa, by Function
- Middle East & Africa, by Vehicle Type
- Middle East & Africa, by Propulsion Type
- Middle East & Africa, by Component
- Middle East & Africa, by Autonomy
- Middle East & Africa, by Car Type
South America Highway Driving Assist Market
- South America, by Country
- Brazil
- Argentina
- Rest of South America
- South America, by Function
- South America, by Vehicle Type
- South America, by Propulsion Type
- South America, by Component
- South America, by Autonomy
- South America, by Car Type
Major Companies: In this report, the major companies studied are: Robert Bosch (Germany), ZF Friedrichshafen (Germany), Magna (Canada), Continental (Germany) and Valeo (France).
Objectives of this Report:
- To estimate the market size for the highway driving assist market on a regional and global basis.
- To identify major segments in the highway driving assist market and evaluate their market shares and demand.
- To provide a competitive scenario for the market with major developments observed by the key companies in the historic years.
- To evaluate the key factors governing the dynamics of the highway driving assist market with their potential gravity during the forecast period.
- To evaluate the leading company-wise pricing analysis for the mentioned applications.
Key Questioned Answered in the Study:
- What are major growth drivers and market trends that are impacting the global highway driving assist market?
- What is the market size both in terms of value and volume for the global highway driving assist market?
- Who are the leading market players and who are the new market players that operate in the global market with an estimated market share?
- What are the future investment pockets and opportunities in the global highway driving assist market?
- Major list of customers and potential futuristic customer list along with an estimated buying volume
- Impact of COVID-19 on the global highway driving assist market
Customization:
- By sub-segment
- By client-specific country, type, and application market analysis
- Pricing analysis along with the potential list of customers
- Product-specific competitive analysis
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