Unlocking Road Safety: The Potential Impact of Semi-Autonomous Vehicles in the Asia Pacific Region!
- Himanshu Patni
- November 24, 2023
- AUTOMOTIVE, NEWS
- Semi-Autonomous Vehicle Market, Semi-Autonomous Vehicle Market Share, Semi-Autonomous Vehicle Market Size, Semi-Autonomous Vehicle Market Trends
- 0 Comments
The Asia Pacific region is home to more than half of the world’s population, making it one of the most densely populated areas on the planet. Unfortunately, this dense population has resulted in a significant number of road accidents, leading to countless fatalities and injuries every year. However, with the rapid development and integration of semi-autonomous vehicles (SAVs), there is a glimmer of hope for improving road safety in the region.
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Reducing Human Error: The Prime Cause of Most Accidents
The majority of road accidents are caused by human error, such as distracted driving, drowsiness, and reckless behavior. According to the World Health Organization (WHO), approximately 90% of all accidents are the result of human mistakes. Semi-autonomous vehicles have the potential to reduce these errors by taking control of certain aspects of driving, such as steering, acceleration, and braking.
For instance, Tesla’s Autopilot system, a type of SAV, can detect and respond to obstacles much faster than a human driver. In a study conducted by the National Highway Traffic Safety Administration (NHTSA), Autopilot was found to reduce the risk of crashes by 35%. Moreover, SAVs can also monitor drivers’ vital signs and alert them if they show signs of fatigue or distraction.
Improved Visibility and Perception: Another key factor in reducing accidents is improved visibility and perception. SAVs are equipped with multiple sensors, including cameras, radars, and lidar, which enable them to detect objects and events around them more accurately than human drivers. This allows them to react quickly and avoid potential hazards.
Enhancing Connectivity and Communication: SAVs can also communicate with other vehicles and infrastructure through dedicated short-range communication (DSRC) technology. This allows them to exchange crucial statistics, which include traffic situations, street closures, and incidents ahead, allowing them to adapt their direction and riding style as a result.
Government Regulations and Policies:
While the potential benefits of SAVs are substantial, their widespread adoption faces several regulatory hurdles. Governments must establish guidelines and frameworks for the testing and deployment of SAVs on public roads. Some of the key considerations include:
Safety Standards: Ensuring that SAVs meet strict safety standards is crucial for public trust and confidence. Governments must establish rigorous safety protocols and conduct regular tests to certify compliance.
Liability Frameworks: As SAVs become more prevalent, questions arise about who is liable in case of an accident. Governments must clarify legal responsibilities between manufacturers, owners, and operators to prevent confusion and litigation.
Privacy Concerns: With the abundance of sensitive data collected by SAVs, governments must implement robust privacy protections to safeguard passengers’ personal information.
Examples of Government Regulations and Policies:
Singapore’s Land Transport Authority (LTA): LTA has developed a comprehensive framework for the testing and implementation of SAVs in Singapore. The framework includes guidelines for vehicle design, safety assurance, and data-sharing agreements between manufacturers and authorities.
Further, the Asia Pacific Semi-Autonomous Vehicle Market is expected to grow at a strong CAGR during the forecast period (2023-2030). Asia Pacific is anticipated to emerge as the fastest-growing semi-autonomous vehicle market as Asia Pacific countries face unique challenges when it comes to road safety, but the introduction of SAVs offers a glimmer of hope. By leveraging cutting-edge technologies and implementing effective government regulations and policies, it would be possible to significantly reduce the number of accidents and save countless lives.
Based on the automation level, the market is divided into level 1, level 2, and level 3. Among these, the level 3 segment is predicted to generate the highest revenue in the forecast period due to its advanced driver assistance features like lane departure warnings, adaptive cruise control, and collision detection. These features are designed and equipped to improve the overall safety of the occupants and other road users. Moreover, Lane Departure Warning systems help alert drivers if they unintentionally drift out of their lane, reducing the risk of collision caused by driver distraction or drowsiness. For instance, Driver fatigue or drowsiness contributed to an estimated 30,000 deaths worldwide in 2022.
Based on components, the market is segmented into cameras, LiDAR, radar, and others. The cameras segment is currently dominating the market in terms of revenue generation and is expected to dominate in the forecast period. This is because cameras can provide high-resolution images and accurate object detection, making them an essential component of semi-autonomous vehicles. Moreover, semi-autonomous vehicles heavily rely on a bunch of sensors and cameras that process the data and make wise decisions about the environment around them. Additionally, with respect to time and economies of scale, the price of cameras decreases year-by-year making them affordable to semi-autonomous vehicles, thus the adoption becomes more widespread, further solidifying their position in the market.
Based on propulsion type, the market is bifurcated into ICE and electric. The electric segment is currently the leading and is expected to dominate the segment in the forecast period due to the changing government regulations to strict emission standards to reduce carbon footprint and promote sustainable transportation. Moreover, even though the initial cost of EVs is higher than ICE vehicles, they’ve lower operational costs and lower maintenance requirements. As battery technology continues to improve, the cost gain of EVs is likely to grow, further boosting their popularity. EVs typically have faster acceleration and better handling than ICE vehicles, thanks to their instant torque. This makes them best for semi-autonomous applications wherein quick response times are essential.
Based on ADAS features, the market is divided into lane assist, crash warning system, adaptive cruise control, smart park, and others. The adaptive cruise control segment holds the most significant market share and is expected to show the same fashion in the forecast period. Adaptive cruise control is a feature that allows vehicles to keep a consistent speed and distance from the vehicle in advance, without requiring manual intervention. This feature uses radar, lidar, or cameras to detect the speed and distance of surrounding vehicles and adjusts the speed of the host vehicle consequently. Adaptive cruise control has gained enormous popularity in recent years due to its capability to reduce traffic congestion and enhance protection on the roads. Moreover, implementing adaptive cruise control can lead to reduced fuel consumption and lower insurance premiums, providing tangible economic benefits to users.
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Global Semi-Autonomous Vehicle Market Segmentation
Market Insight, by Automation Level
· Level 1
· Level 2
· Level 3
Market Insights, by Component
· Camera
· LiDAR
· Radar
· Others (Ultrasonic sensor, Stereo Cameras, Others)
Market Insights, by Propulsion Type
· ICE
· Electric
Market Insights, by ADAS features
· Lane Assist
· Crash Warning System
· Adaptive Cruise Control
· Smart Park
· Others (Cross Traffic Alert, Automatic Emergency Braking, Others)
Market Insight, by Region
· North America
o The U.S.
o Canada
o Mexico
o Rest of North America
· Europe
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe
· APAC
o China
o Japan
o India
o South Korea
o Rest of APAC
· Rest of the World
Top Company Profiles
· BMW AG
· Audi AG
· Daimler AG
· Ford Motor Company
· General Motors
· Volkswagen
· Mahindra & Mahindra Ltd.
· BYD Company Ltd.
· Tesla, Inc.
· Hyundai Motor Company