Overview and Scope
A remote sensing device (RSD) vehicle intelligence system is a technology that uses sensors to collect and analyze data on vehicle emissions and performance. The primary purpose of RSD vehicle intelligence systems is to enhance vehicle safety and driving assistance through the use of remote sensing technologies, data analytics, and intelligent automation features. This helps improve overall road safety for drivers, passengers, and pedestrians.
Sizing and Forecast
The remote sensing device (RSD) vehicle intelligence systems market size has grown rapidly in recent years. It will grow from $2.14 billion in 2023 to $2.38 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to rising demand for advanced driver-assistance systems, growing trend of connected vehicles, increasing emphasis on autonomous driving, proliferation of internet of things (IoT) technology, and rising vehicle production.
The remote sensing device (RSD) vehicle intelligence systems market size is expected to see rapid growth in the next few years. It will grow to $3.68 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to increasing awareness regarding vehicle safety in developing countries, the growing number of commercial fleets all around the globe, increasing demand for vehicle safety and advanced driver assistance systems, growing need for real-time vehicle emissions monitoring, and increasing awareness regarding stringent safety regulations. Major trends in the forecast period include advancement in artificial intelligence (AI), trends of autonomous cars, technological advancements, increasing investment in R&D by automotive OEMs, and increasing use of RSD systems for traffic management and smart city applications.
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Segmentation & Regional Insights
The remote sensing device (RSD) vehicle intelligence system market covered in this report is segmented –
1) By Component: Sensor, Analog Integrated Circuits (ICs), Processor, Memory
2) By Advanced Driver Assistance And Monitoring: Adaptive Cruise Control (ACC), Blind Spot Detection System, Park Assist System, Traffic Jam Assist System, Drowsiness Monitoring Or Alertness Sensing System, Other Advanced Driver Assistance And Monitoring Systems
3) By Vehicle Type: Passenger Cars, Commercial Vehicles
Europe was the largest region in the remote sensing device (RSD) vehicle intelligence systems market in 2023. The regions covered in the remote sensing device (RSD) vehicle intelligence system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising adoption of autonomous vehicles is expected to propel the growth of the remote sensing device (RSD) vehicle intelligence system market going forward. Autonomous vehicles are self-driving cars equipped with sensors and software to navigate, sense their environment, and make decisions without human intervention, aiming to improve safety, efficiency, and mobility. Advancements in artificial intelligence (AI) and machine learning have significantly improved the capabilities of autonomous driving systems, making AVs more reliable and efficient. RSD systems use sensors such as LiDAR, radar, and cameras to create detailed, real-time maps of the vehicle’s surroundings. AVs can detect objects, obstacles, and other vehicles accurately. For instance, according to the National Association of Insurance Commissioners, a US-based regulatory support organization, the sales of autonomous vehicles in the U.S. are projected to reach 4.5 million units by 2025, up from just 0.1 million units in 2021. Therefore, the rising adoption of autonomous vehicles drives the growth of the remote sensing device (RSD) vehicle intelligence system market.
Key Industry Players
Major companies operating in the remote sensing device (RSD) vehicle intelligence system market are Robert Bosch GmbH, Hitachi Ltd., Denso Corporation, ZF Friedrichshafen AG, Continental AG, Hyundai Mobis, Magna International Inc., Mitsubishi Electric Corporation, Aisin Seiki, Nvidia Corporation, Valeo S.A, Texas Instruments Incorporated, Aptiv PLC, Infineon Technologies AG, NXP Semiconductors N.V., BorgWarner Inc., Analog Devices Inc., Renesas Electronics Corporation, Autoliv Inc., Microchip Technology Inc., Xilinx Inc., Veoneer Inc., Mobileye Global Inc., Melexis NV, Wabco Holdings Inc.
The remote sensing device (rsd) vehicle intelligence system market report table of contents includes:
1. Executive Summary
2. Remote Sensing Device (RSD) Vehicle Intelligence System Market Characteristics
3. Remote Sensing Device (RSD) Vehicle Intelligence System Market Trends And Strategies
4. Remote Sensing Device (RSD) Vehicle Intelligence System Market – Macro Economic Scenario
5. Global Remote Sensing Device (RSD) Vehicle Intelligence System Market Size and Growth
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32. Global Remote Sensing Device (RSD) Vehicle Intelligence System Market Competitive Benchmarking
33. Global Remote Sensing Device (RSD) Vehicle Intelligence System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Remote Sensing Device (RSD) Vehicle Intelligence System Market
35. Remote Sensing Device (RSD) Vehicle Intelligence System Market Future Outlook and Potential Analysis
36. Appendix
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