What is Smart Driving?
The global smart driving market will continue to rise due to the demand for complete safety and reducing emissions during the forecasted period. The smart driving will help avoid the collision in almost all the situations while staying focused at all times. It involves the use of smart technologies in automobiles including hardware and software components. With the rising production and government spendings on electric vehicle productions, smart driving will continue to foster.
The market study is broken down by Type (Hardware {Power Electronics, E-brake, Inverter, Motor, Battery} and Software), by Application (E Axles and Wheel Drive) and major geographies with country level break-up.
Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Infineon Technologies AG (Germany), Robert Bosch GmbH (Germany), Continental AG (Germany), Siemens AG (Germany), Cummins (United States), BorgWarner Inc. (United States), Danfoss Power Solutions (United States), Schaeffler AG (Germany), Octillion Energy Holdings, Inc (United States) and Aisin Seiki Co., Ltd., (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Smart Driving market by Type, Application and Region.
On the basis of geography, the market of Smart Driving has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Electric Vehicle, the sub-segment i.e. BEVs {Battery Electric Vehicles} will boost the Smart Driving market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channels, the sub-segment i.e. OEMs will boost the Smart Driving market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On 30th August 2019, Bosch launched the camera with AI for driver assistance and automated driving with the aim of taking full control. The company wants to make cars better than people to provide complete road safety.
"The International Telecommunications Union announced the formation of a focus group called AI for Autonomous and Assisted Driving. It aims: to develop performance standards for artificial intelligence (AI) systems that control self-driving cars. (The ITU has come a long way since its 1865 founding as the International Telegraph Union, with a mandate to standardize the operations of telegraph services.)"
Market Trend
- Adoption of AI and AR Application for Smart Driving
Market Drivers
- Rising Number of Automotive Accidents Across the World Due to the Devices Distraction
- Need for Drivers' Safety and Eco-Driving while Reducing Emission
Opportunities
- Increasing Production of Electric Vehicles
- Growing Spending on Automobile Advancements will Boost the Smart Driving Market
Restraints
- High Cost Involved in Smart Driving Systems
Challenges
- Technical Issues in Smart Driving
- Regulatory Compliances with Smart Driving System
Key Target Audience
Smart Driving System Manufacturers, Smart Driving Software Providers, System Traders, Distributors and Suppliers, Research and Development Institutes, Potential Investors, Industry Associations, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.