The ADAS Market (advanced driver assistance system) is estimated to be USD 30.0 billion in 2019 and is projected to reach USD 134.9 billion by 2027, at a CAGR of 20.7% during the forecast period.
The advent of autonomous vehicles
Autonomous and semi-autonomous vehicles have the potential to reduce traffic congestion. The Texas A&M Transportation Institute’s 2015 Annual Urban Mobility Scorecard reported that traffic congestion causes drivers to waste more than 3 billion gallons of fuel and be stuck in their vehicles for nearly 7 billion extra hours. Autonomous vehicles could transform the meaning of road capacity, as the number of vehicles that can travel safely in a given lane will increase when computers will be doing the driving. Auto manufacturers have started to roll out vehicles with semi-autonomous vehicle technology, which is seen as the intermediate step toward autonomous driving. This momentum in the development of autonomous vehicles will serve as an opportunity for the players in the ADAS market.
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Mutual interference between LiDAR scanners
LiDAR is one of the key technologies that is being used in the ADAS market. Recently, Google displayed its prototype autonomous vehicle built on Toyota Prius. This vehicle, which costs up to
USD 75,000, uses LiDAR technology-based Velodyne HDL-64E LIDAR sensor mounted on the top of the vehicle. However, to date, none of the autonomous vehicle technology has been tested with 100% accuracy.
Moreover, there is a problem of mutual interference between the LiDAR scanners of these vehicles. This problem would increase when a number of vehicles use the same frequency band on crowded multi-lane roads. The players in the ADAS market need to find solutions to prevent such interference in the LiDAR systems. However, until LiDAR matures, the current sensor technologies such as radar (for range finding and object detection) and cameras (for lane finding and object recognition) should be developed and used efficiently to get a seamless autonomous driving experience. Autonomous cars would require a comprehensive sensor and LiDAR technology for balanced modalities. OEMs and developers such as BMW plan to launch autonomous electric vehicles by 2021. By 2025, autonomous vehicles shall be successfully commercialized with LiDAR as the major technology.
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The global ADAS market is dominated by major players such as Robert Bosch (Germany), ZF Friedrichshafen (Germany), Aptiv (UK), Continental (Germany), and Intel (US).
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