Components System Category to Dominate the Vision and Navigation System Market

Posted by BIS RSRCH on March 11th, 2020

The growth of the automotive industry since the last century has been rapid owing to the high technological advancements and developments from original equipment manufacturers (OEMs), tier 1 manufacturers, and tier 2 manufacturers. In particular, the increasing number of passenger and commercial vehicles on road reflects the progress made by OEMs and other manufacturers. However, the increasing number of vehicles on road also creates immense opportunity for vision and navigation system providers to integrate advanced safety driver-assistance systems (ADAS) features in the vehicle to increase road safety and provide secure movement of goods via commercial vehicles.

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Owing to the rapid integration of ADAS features in a vehicle, the automotive industry is on the crest of technological advancement, which is expected to further increase in the coming years, thereby providing improved and enhanced safety features in Level 3, 4, and 5 vehicles. The progressive evolution of automotive industry is attributed to the increasing focus of manufacturers toward the road safety, government regulations, and changing consumer preferences, which has led to the deployment of vehicles from Level 1 to Level 3. This evolution has resulted in the advancement of vehicles in terms of vehicle performance, communication capabilities, passenger safety, and driving comfort, among others. Consequently, the advancement and improvement in on-road vehicles performance has created a surge in the demand for vehicles, thereby raising the need for safer and advanced features in it.

The deployment of ADAS features in a vehicle makes the road safe for drivers as well as pedestrians. The increasing number of road accidents has compelled the government bodies and federal authorities such as “National Highway Traffic Safety Administration” (NHTSA), “Ministry of Land, Infrastructure, Transport and Tourism” (MLIT), and “European Commission” (EC) to work toward the deployment of autonomous vehicle by passing stringent regulations and laws for automakers. The consumers that are reaping the benefits of ADAS features in a vehicle are expecting more in the coming years with the deployment of Level 4 and Level 5 vehicles, which is going to improve automated features as compared to Level 1, 2, and 3 vehicles.

The improvement can be expected owing to the evolution of software with each level. Since the entire data gathered by the sensors is processed via software, it plays an important role in the deployment of advanced features in a vehicle. Moreover, with the expected commercialization of Level 4 and Level 5 vehicles in the coming years, software is going to play an essential role in making a vehicle partially or fully autonomous. The rise of deep learning, artificial intelligence, and machine learning is further going to help the evolution of software by making the self-driving cars more independent of human interaction.

Autonomous driving components of a vehicle include various sensors such as cameras, LiDARs, radars, and ultrasonic sensors. These sensors work together and give a detailed 3D analysis of the surrounding, revealing both dynamic and static objects such as cyclists, pedestrians, and traffic light. Since the past decade, a high surge in the demand for these sensors has been witnessed owing to the demand for more enhanced features in a vehicle. In addition to this, rising safety concern of the driver and the regulations imposed by government authorities are further fueling the growth of this market.

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The rise in technological advancements in the automotive sector has led to the evolution of autonomous vehicle. In each level of autonomy, the number of safety features increases, thereby ensuring road safety to a high extent along with the comfort of the drivers. Moreover, governments of several countries around the world are focusing on reducing road accidents, traffic congestion and air pollution and hence building their interest toward the deployment of autonomous vehicles. 

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Joined: March 5th, 2020
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