Overview
Vehicle intelligence systems comprise of electromagnetic and electronic devices which operate with radio transceivers and computer controlled devices. These systems communicate with the surroundings of the vehicle and assists the driver for a better driving experience.
The global vehicle intelligence systems market is majorly driven by the increasing concerns about pedestrian safety, the increase in demand for enhanced driving experience, and the rise in sales of premium vehicles in developing economies. The other factors driving the growth of the market are strict automobile standards set by governments, need for higher safety of passengers and drivers in vehicles and the increasing rate of road accidents which lead to adoption of vehicle intelligence systems.
The demand for safety features is increasing as consumers expect high quality products. However, the cost of developing vehicle intelligence systems is very high. The vehicle intelligence system contains numerous software-driven electronic components, which increases the overall cost of the vehicle. This increases the difficulty of Original equipment manufacturers in incorporating the systems in all vehicle segments.
Blind spot detection system is helpful to alert the driver regarding any obstacles which come in the blind spot zone of the vehicle. Adaptive headlights have the capability of automatically adjusting the intensity of light in corners and dark conditions. Such lights help to avoid dazzling.
Competitive Analysis
The Market is witnessing increased competition and is expected to further intensify during the forecast period. The players in the market incorporate acquisition, collaboration, partnership and expansion in order to gain competitive advantage in this market and to maintain their market position.
Technological advancements in the manufacturing of the vehicle intelligence system and the increasing research and development expenditure by the key players is expected to increase the level of competition in the Vehicle Intelligence System Market.
Segmentation
The vehicle intelligence system market can be segmented in to two key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Vehicle Type - passenger vehicles, commercial vehicles
Segmentation by Road Scene Understanding- RTS (Road tracking system), RSD (Road sign detection system), NVS (Night vision system) and others
Segmentation by Advanced Driver Assistance & Monitoring – ACC (Adaptive cruise control system), BSD (Blind spot detection system), PA (Park assist system), TJA (Traffic jam assist system), DMS (Drowsiness monitoring system) and others
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
Regional Analysis
Asia Pacific region is expected to dominate the Vehicle Intelligence System Market owing to mounting automobile demand and increase in disposable income of people. Increasing disposable income and launches of new car models by original equipment manufacturers is also contributing towards the growth of the market. The nations such as China and India account for a major chunk of the global vehicle production. The region provides the manufacturers advantages in terms of low-cost labor and raw materials.
Europe region is expected to grow with the highest CAGR during the forecast period. Original equipment manufacturers in the region possess considerable technological capabilities and are thus able to offer advanced intelligence systems for vehicles. The growing adoption of advanced technologies in various vehicle segments is expected to hasten the growth of the vehicle intelligence systems market in Europe region.
Read More:
https://qntjuo.prnews.io/207395-India-Automotive-Door-Seals-Market-Forecast-to-2027.html
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