Intelligent speed assist uses information about the road to control the required speed. Information can be obtained from the vehicle position, taking into account speed limits known for the position, and by understanding road features such as signs and symbols. Intelligent speed assist systems are designed to detect and alert a driver when the vehicle has entered a new speed zone, or when different speed limits are in force, according to the time and conditions of the day. Several intelligence speed assist systems also provide information about driving hazards and limits enforced by speed and traffic light cameras. The purpose of intelligent speed assist is to help the driver maintain a safe and lawful speed at all times. Intelligent speed assist has been a promising type of advanced driver support system for the last few decades. From a technical point of view, large-scale intelligence speed assist implementation is possible in the short term. The different types of intelligent speed assist systems are expected to have different effects on behavior and traffic safety. The more intruding and controlling an intelligent speed assist system is, the less it will be accepted by drivers. At the same time, however, the more intruding and controlling, the larger the effects on speed and on road safety in general. Successful implementation of the intelligent speed assist system largely depends on the willingness of drivers to buy these systems and utilize them correctly, the quality of the maps that are utilized to indicate maximum speeds, and the possibilities for a gradual implementation. There has been no substantial implementation of intelligent speed assist system anywhere in the world so far, and the intelligence speed assist system threatens to become a highly effective road safety measure that is not employed widely anywhere.
Major factors driving the intelligent speed assist market include the increased production of premium vehicles, rising demand safety features, government regulations regarding safety of the vehicle, and increasing demand for advanced applications such as telematics and speed detection camera. Furthermore, the new vehicle safety norms are encouraging automotive manufacturers to protect vehicle from collision will propel the market of intelligent speed assist. The cost of intelligent speed assist system is very high will increase the cost of vehicle.
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The global intelligent speed assist market can be segmented based on type, system, vehicle, sales channel, and region. In terms of type, the intelligence speed assist market can be classified into navig8r, and one more segment. The navig8r segment is estimated to expand significantly during the forecast period, due to advancements in automotive technology that have resulted in the development of technologically advanced electronic systems. The shift of automobile manufacturers toward advance electrification with increasing usage of electronic content per vehicle has resulted in significantly higher efficiency of automotive systems with higher precision and accuracy. Based on system, the intelligence speed assist market can be divided into position-based system, and other three more segment. The position-based system segment dominated the market in terms of revenue. It is expected to maintain its dominance during the forecast period. Penetration rate of position-based system is high, while that of the other intelligence speed assist systems such as radio beacons, optical recognition, and dead reckoning is low, especially in both premium and low-range cars. Based on vehicle, the intelligence speed assist market can be segmented into passenger vehicle, commercial vehicle, and electric vehicle. The electric vehicle segment is projected to expand during the forecast period. Rise in concern for environmental protection, increase in the sale of electric vehicles, and governmental initiatives for green vehicles have propelled the market significantly. In terms of sales channel the intelligent speed assist market can be divided into OEM, and aftermarket.
Based on geography, the global intelligent speed assist market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounts for a significant share of the intelligence speed assist market, followed by Europe and Asia Pacific. The market in Asia Pacific is likely to expand at a significant growth rate during the forecast period. Demand for intelligence speed assist systems is expected to be high in countries such as Japan and South Korea due to the implementation of stringent government legislations and safety norms.
Key players operating in the global intelligence speed assist market include Continental AG, Delphi Automotive LLP., DENSO CORPORATION, Magna International Inc., Robert Bosch GmbH, AISIN SEIKI Co., Ltd., HYUNDAI MOBIS, Texas Instruments Incorporated, and HELLA KGaA Hueck & Co.
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