El Segundo, Calif. —High-tech products that help you drive, such as electronic blind-spot aids and early-warning crash detectors, are expected to skyrocket over the next four years.
iSuppli said OEM electronic driving devices will rise by more than three-fold to 56.3 million units in 2013, up from 17.3 million in 2008. This represents a compound annual growth of 26.6 percent.
A retail aftermarket for some of these products is also expected to surge, said Phil Magney, automotive VP for iSuppli, noting that the company will issue a report in the future on the projected size of the retail market for Advanced Driver Assist Systems (ADAS). Such retail-aimed items might include parking-assist products, which are already common, as well as blind-spot detection and lane-departure warning systems.
ADAS products may be particularly helpful to younger and inexperienced drivers, elderly drivers or commuters who tend to “multitask” while driving.
“In the United States, the cost per accident is roughly $36,500. In 2003, there were 6.3 million accidents involving 11.2 million cars, causing more than 42,000 deaths and 2.9 million injuries. That’s a major reason why automakers are rushing to add ADAS features to their cars,” said Magney.
A catalyst for this market is the falling cost of the electronic sensors used in many ADAS products. “Furthermore, regional regulations are putting pressure on automakers to embrace ADAS features,” said Magney, noting, “Preventing loss of life and saving money for governments, insurance companies, car makers and consumers is what ADAS is all about,”
Aftermarket blind=spot detection systems or lane-departure warning systems could be available for less than $500 from retailers, he said.
Mobileye, Southfield, Mich., is selling to retailers a $900 early-warning crash-detection system with lane-departure warnings. A step-up version adds a constant readout of the distance to the driver ahead for $1,500.
The products give drivers an alert 2.7 seconds in advance of a potential frontal crash. According to Daimler-Benz, if you give a driver a 1.5-second warning, you can prevent 90 percent of collisions, said Bob Bowe, eastern regional manager for Mobileye.
ADAS products also include adaptive cruise control, object recognition, driver monitoring, road-sign recognition, adaptive lighting, stability control and event-data recorders, said iSuppli.