The report forecasts the global commercial vehicle advanced driver assistance systems (ADAS) market to grow at a CAGR of 14.04% during the period 2016-2020.
One of the key trends for market growth will be the emergence of new businesses and opportunities for other vertical market adjacencies. As the ADAS penetration in commercial vehicle increases, the report believes that this will pave the way for adjacent market opportunities.
According to the report, regulation backing will be a key driver for market growth. Governments of many countries are enhancing their focus on safety regulations. As a result, automotive active safety systems are being integrated in automobiles.
Further, the report states that one of the challenges for the market will be the potential negative impact of existing regulations. Regulation (EU) N°165/2014 is the digital tachograph legislation that aids in enforcing the rules on monitoring driving times and rest periods of professional drivers. This regulation may have a negative impact on the penetration of connected truck technologies but will inherently drive the adoption of ADAS in trucks.
This is because connected truck technologies like truck platooning, which allows drivers in trailing trucks to rest during the entire journey or even negate the use of the driver in trailing trucks, may not align with the mentioned regulation. Therefore, the digital tachograph legislation may require further amendments to enable truck platooning.