Advanced Vehicle Control System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026
- Transparency Market Research
An advanced vehicle control system (AVCS), also referred to as advance control system, is a vehicle-controlled program, which is part of the smart highway initiative (also known as Intelligent Vehicle Highway Systems (IVHS), or intelligent transportation systems (ITS). An advanced vehicle control system includes cooperative driver-vehicle-highway systems, and full automation on certain roadways. AVCS are gaining attention globally. The advanced vehicle control system provides information about highly localized and frequently changing conditions in its immediate vicinity and can initiate actions based on those conditions. Advanced vehicle control systems are one of four major components of the IVHS program that was represented by the Mobility 2000 Group in San Antonio, in February 1989. The other components are Advanced Traffic Management Systems, Advanced Driver Information Systems, and Commercial Vehicle Operations.
Rise in demand for vehicle safety systems owing to the rising number of accidents and injuries is expected to drive the advanced vehicle control system market during the forecast period. The advanced vehicle control system offers potential benefits of automation, technology, and cost trades. The advanced vehicle control system is expected to contribute to enormous projects, which aims at making the vehicle fully automated and accident safe. This is expected to boost the advanced vehicle control system market during the forecast period. The advanced vehicle control system market is likely to expand at a significant growth rate owing to the rise in demand for replacement of safety-related driver action with technology, automated systems that are expected to be finally safer than the existing system. It provides smooth traffic flow due to driving within the lane. This is expected to propel the advance vehicle control system market during the forecast period. The advanced vehicle control system requires improved road infrastructure and regular maintenance. This is estimated to restraint the advanced vehicle control system market during the forecast period.
The advanced vehicle control system market can be segmented based on application, vehicle type, components sales channel, and region. Based on application, the advanced vehicle control system market can be segregated into five segments. The anti-lock brake system segment accounts for a prominent share of the market. The anti-lock brake system is a safety system that allows the wheel of the vehicle to maintain tractive contact with the road surface, according to the driver’s inputs, while braking, preventing the wheels from locking up and avoiding uncontrolled skidding.
Based on vehicle type, the advanced vehicle control system market can be classified into passenger vehicles and commercial vehicles. The passenger vehicles segment accounts for a major share of the market owing to higher sales of passenger vehicles and the increasing demand for safety systems among end-users. The passenger vehicles segment is expected to maintain its dominant position in the market during the forecast period.
Based on the components sales channel, the advanced vehicle control system market can be bifurcated into original equipment manufacturers (OEMs) and aftermarket. The OEMs segment accounts for a higher share of the advanced vehicle control system for automotive market, as compared to the aftermarket segment. This due to the higher consumer demand for vehicle’s safety and government mandatory norms, resulting in the incorporation of safety systems in modern vehicles.
Based on geography, the advanced vehicle control system market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe accounts for a major share of the global advanced vehicle control system market owing to the high rate of adoption of the system and the development of the automotive sector infrastructure, leading to an increased production of vehicles with safety systems, especially in Germany, France, the U.K., and Spain. Major automobile manufacturers are established in this region, thereby fueling the advanced vehicle control system market. Implementation of safety systems by regulatory bodies in the region is also a key factor that is estimated to propel the advanced vehicle control system market during the forecast period.
Prominent players operating in the global advance vehicle control system market include Robert Bosch GmbH, Continental AG, Denso Corporation, ZF Friedrichshafen AG, Wabco, Delphi, Autoliv Inc., Hitachi, Ltd., Honeywell International Inc., and TOYODA GOSEI Co., Ltd.
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