Highway Driving Assist Market

Global Highway Driving Assist Market Size (2024 to 2029)

The global highway driving assist market size is expected to reach USD 5.70 billion in 2024 and reach USD 15.90 billion by 2029, growing at a CAGR of 22.78% from 2024 to 2029.

Current Scenario of the Global Highway Driving Assist Market

Highway driving assist is an unmistakable innovation of the advanced driver assist system (ADAS), which is considered the pillar of self-driving and independent automobiles. The Highway driving assist framework is a blend of the advanced safety frameworks that can keep help and adaptive cruise control. The highway driving assist system is an incomplete mechanized driving framework, which helps the escort in dull driving conditions on expressways and highways and permits the automobile to quicken and decelerate, consequently, likewise steering the car within persuaded requirements. 

An increase in the entrance of semi-autonomous automobiles is a critical factor for the development of the highway driving assist market globally. Expanding interest for ease in driving and safety & safety is relied upon to operate the global highway driving assist the market in Level 3 & above automobiles during the estimated time frame. The highway driving assist focuses on countering the traffic by keeping the vehicle at a perfect separation at all times and abridging the tension and weariness on the driver. 

Market Drivers

An increase in interest in advanced driver assistance frameworks in automobiles is likely to accelerate the global highway driving assist market during the foreseen period. Development and growth in the vehicle industry are not limited to only motor and design but also concentrate on the security of a rider, automobiles as well as pedestrians. Accidents happen because of rider mistakes and can be prevented through the integration of the highway driving assist framework, which subsequently lowers the safety concern, increases security on the highway, and eliminates road crashes of the automobile. The advantages mentioned above are also likely to trigger interest in vehicle highway driving assist framework during the projection time.

The increased expense of the framework leads to a restricted number of deployments of ADAS in medium-scope vehicles. This is likely to hinder the highway driving assist market during the estimated time frame. 

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Highway Driving Assist Market By Type

Hybrid electric vehicles are foreseen to rule the global market in the coming years, which is assumed to create immense growth opportunities for the worldwide highway driving assist market.

Global Highway Driving Assist Market By Function     

Adaptive cruise control (ACC) is one of the leading capacities for highway driving assist as it automatically controls the automobile's speed and keeps a predefined reduced distance from the other automobile. The future of ACC would be Cooperative ACC (C-ACC), which would leverage satellites, mobile infrastructures or reflectors, and transmitters on the back of other automobiles. The variables positively affecting the development of adaptive cruise control are the upgrades in innovation and the rising requirements for passenger security.

Global Highway Driving Assist Market By Component

The sensors sector holds a significant share of the market. This is because of the greater number of sensors deployed due to their capacity to offer input to the motor module. Sensors get data in the form of signals and transform them into simple information for the electronic control unit, which is responsible for the action done by the framework.

REGIONAL ANALYSIS

North America is likely to be the biggest market during the prediction period due to advancements in the US in terms of autonomous innovation. The North American market is predicted to increase at the highest CAGR of 24.8% during the estimated time frame. In 2016, the US government presented a USD 4 billion investment in triggering the advancement and implementation of fully autonomous automobiles all over the world, thus attracting worldwide OEMs and Tier I organizations to invest in self-driving innovation for the US market. The policies enacted by the European Union on security standards and integration of ADAS in modern automobiles are likely to remain a significant variable in the area that is expected to drive the highway driving assist the market in the European region during the foreseen period. Vehicle industries in this area are centering on security applications by offering automobile-based intelligent security frameworks, for example, highway driving assist, which is likely to enhance road security in terms of crash avoidance, crash harshness protection, and post-crash phases.

The Mexican market for luxury mid and premium automobiles is restrained; likewise, the infrastructure availability is very restrained in the nation, which makes it less favourable in this market. Although large OEMs, for example, Volkswagen, Toyota, GM, Nissan, Ford, Daimler, and BMW provide luxury automobiles in the nation, they do not have this highlight. It is believed that Mexico’s latest trade agreement with the US and Canada may involve the transfer of AV innovation, although there is room for development in infrastructure.

KEY MARKET PLAYERS

Denso Corporation, Wabco, Robert Bosch (Germany), Magna (Canada), Autoliv Inc., ZF Friedrichshafen (Germany), Mobileye, Delphi, Continental (Germany), Valeo (France). Some of the market players dominate the highway driving assist market.

RECENT DEVELOPMENTS IN THE GLOBAL MARKET

• The new Bosch framework, introduced on all the automobiles in the Maserati MY 2018 range, joins the ACC Stop & Go and Lane Centering capacities to control the automobile's speed, acceleration, and braking. Because of the brilliant mix of the two sizes and upgraded longitudinal and parallel direction during in-path travel, this Bosch innovation empowers in part automated driving (SAE level 2) both on the straight and on twists. 
• Magna International Inc. reported that its Magna Electronics working unit, related to Mobileye, its accomplice for picture processing, has built up a creative driver assistance framework that utilizes a separate, forward-looking camcorder to give security and comfort highlights, for example, forward impact and path takeoff alerts. 
• ZF declared the presentation of ZF coPILOT, a keen advanced driver assistance system (ADAS), prompting upgraded security and driving solace opportunities. Utilizing the intensity of AI and with a thorough sensor set, automobiles can perform different computerized driving capacities, particularly on freeways. 

DETAILED SEGMENTATION OF THE GLOBAL HIGHWAY DRIVING ASSIST MARKET INCLUDED IN THIS REPORT

This research report on the global highway driving assist market is segmented and sub-segmented into the following categories.

By Type

• Plug-in hybrid electric vehicle (PHEV)
• Operational data
• Hybrid electric vehicle (HEV)
• Fuel cell vehicle (FCEV)
• Battery electric vehicle (BEV)

By Function     

• Operational data
• Lane-keeping assist (LKA)
• Lane change assist (LCA)
• Collision avoidance assist (CAA)
• Adaptive cruise control (ACC)

By Component

• Ultrasonic sensor
• Software module
• Radar
• Operational data
• Navigation
• Camera

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa