The automotive industry witnessed the impact of the COVID-19 pandemic emerge from a supply shock to a significant global demand tremor. While the manufacture of new cars is anticipated to plummet by 30%, compared to the production levels in 2019, the automotive industry is directed towards four leading megatrends, set to remain unchanged. These include connected, shared, electric, as well as autonomous driving. Constituting an integral part of the autonomous driving megatrend, advanced driver-assistance systems (ADAS) are characterized as electronic systems in a vehicle that utilizes advanced solutions and technologies to assist drivers. ADAS uses sensors such as cameras and LIDAR to provide critical information associated with blockages or closure of roads, traffic levels, and recommended route alternatives to avoid congestion and take automatic action based on what the system perceives.
The Pressing Need: Increased Safety, Autonomy, and Convenience
According to the World Health Organization (WHO), over 1 million people are killed, and approximately 50 million people are disabled or injured in traffic accidents across the globe annually. The United States Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) also reported that 94% of all traffic accidents in the United States are caused due to human errors. As a result, ADAS technology is crucial in minimizing human-linked errors, thus increasing safety – a chief focus area within the transportation and automotive industry.
Developments in the Global ADAS Market
As the foundation of fully automatic vehicles, numerous developments in intelligent solutions and associated software are being introduced across the mobility supply chain. In essence, every system entails at least one individual sensor to screen the given parameters and transmit the required information. Emphasizing the growth of ADAS technology at a substantial rate, Mary Barras, Chairman and CEO of General Motors, asserts, “The auto industry will change more in the next 5 to 10 years than it has in the past 50.” Furthermore, with the high penetration rates of cameras and radars in vehicles, the associated market revenues are anticipated to recover rapidly and contribute to the future of the automotive industry after the COVID-19 pandemic.
Driver assistance systems could also offer additional benefits beyond safety, including better traffic awareness and increased fuel efficacy. As connectivity features begin collaborating with ADAS, vehicles will be able to communicate with each other and ease the approach of road navigation. Hence, with lesser traffic congestions and enhanced driving experiences, maintenance and repair expenses will also depreciate, resulting in minimal insurance premiums. Ultimately, the automotive industry trends will likely upgrade in order to develop new vehicle models and introduce innovative, autonomous technologies.
While present ADAS functions are limited by what the vehicle’s sensors can detect, extending to a resourceful forward range of nearly 250 meters, original equipment manufacturers (OEMs) regularly join forces with software and technology firms to curate innovative developments. In this regard, a German automotive technology and components provider, Continental, has made substantial contributions to expand its advanced driver assistance systems (ADAS) business unit presence in the Asian market. Moreover, Continental’s Technical Center India (TCI) is one of the firm’s most notable engineering locations for ADAS, endeavoring towards advanced technologies for emerging as well as developed markets.
Therefore, over the upcoming years, the seemingly futuristic potential of ADAS technology is anticipated to become a reality while eventually transitioning into the standard expectations for vehicles. Pushed by the integration of novel functionality, the global advanced driver assistance systems market will pave the way for lucrative opportunities for new players while adequately addressing and enhancing users’ individual driving experiences.