According to a report from ResearchAndMarkets, the global commercial vehicle ADAS market will grow at a CAGR of 16.3% between 2018 and 2022. ADAS stands for advanced driver-assistance systems, which can include traction control, anti-lock brakes and electronic stability control.

ResarchAndMarkets’ report notes that the introduction of sensor technology will be a key driver of growth in the market. Sensors are engineered to detect chemical, physical and process changes, and detect changes in the immediate environment. Vendors are increasingly integrating automotive sensors that monitor on-board conditions in vehicles, as these sensors aid in executing automated operations.

The emergence of new business opportunities will be a key trend for market growth. Due to the increased penetration of ADAS in commercial vehicles, business opportunities in areas like big data, cyber security and truck platoon business models will have high growth scope.

Further, the report states that the high cost pressure on OEMs will be a key challenge to market growth. A changing regulatory environment and demanding consumer base subject the auto OEMs to extreme cost pressures. Also, the cost pressure on OEMs will increase due to growing consumer demand for advanced feature at competitive features.