Remote Sensing Device (RSD) Vehicle Intelligence System Market Report 2024

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 observed in the historical period can be explained by the increasing demand for advanced driver-assistance systems, the rising popularity of connected vehicles, greater focus on autonomous driving, widespread adoption of Internet of Things (IoT) technology, and the expanding production of vehicles.

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 forecasted growth in the upcoming period can be linked to heightened awareness of vehicle safety in developing nations, the expanding global presence of commercial fleets, rising demand for advanced driver assistance systems and vehicle safety features, increasing emphasis on real-time vehicle emissions monitoring, and greater awareness of stringent safety regulations. Key trends anticipated in the forecast period include advancements in artificial intelligence (AI), the rise of autonomous vehicles, ongoing technological innovations, increased research and development investments by automotive original equipment manufacturers (OEMs), and the expanding application of RSD systems for traffic management and smart city initiatives.

The increasing adoption of autonomous vehicles is expected to drive the growth of the remote sensing device (RSD) vehicle intelligence system market in the future. Autonomous vehicles, which are equipped with sensors and software to navigate and perceive their environment without human intervention, aim to enhance safety, efficiency, and mobility. Advances in artificial intelligence (AI) and machine learning have significantly bolstered the capabilities of autonomous driving systems, making them more dependable and effective. RSD systems utilize sensors such as LiDAR, radar, and cameras to generate detailed, up-to-date maps of the vehicle’s surroundings. Autonomous vehicles are adept at accurately detecting objects, obstacles, and other vehicles. For example, according to the National Association of Insurance Commissioners, 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. Hence, the increasing adoption of autonomous vehicles is a key driver for the growth of the remote sensing device (RSD) vehicle intelligence system market.

Major companies in the remote sensing device (RSD) vehicle intelligence system market are increasingly implementing intelligent parking solutions to enhance urban mobility and optimize parking efficiency. Intelligent parking solutions encompass advanced systems and technologies aimed at improving the discovery, reservation, and management of parking spaces. For example, in August 2022, WM Motor Technology Co. Ltd., a Chinese automotive technology company, introduced its 3 smart parking technology. This service integrates intelligence from vehicle, field, and mobile platforms along with relevant big data to offer consumers a comprehensive smart parking experience. It provides real-time updates on parking lot occupancy and pricing through the WM Motor app, as well as features such as pre-departure parking information, intelligent route planning, interior navigation, automated parking, and sensorless payment.

In November 2021, Hearst Corporation, a media company based in the United States, acquired an 80% stake in Noregon Systems Inc. for an undisclosed sum. This acquisition strategically broadens Hearst Corporation's footprint in the expanding connected vehicle solutions market. It enhances their portfolio and positions them for continued growth and innovation within the transportation sector. Noregon Systems Inc., based in the US, specializes in software development for connected vehicle solutions. They provide customers with tools for diagnostic and repair in workshops, as well as remote diagnostics platforms, aimed at maximizing vehicle uptime.

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.

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.

The countries covered in the remote sensing device (RSD) vehicle intelligence system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A vehicle intelligence system utilizing remote sensing devices (RSD) employs sensors to gather and analyze data concerning vehicle emissions and performance. Its fundamental objective is to augment vehicle safety and driving assistance through the integration of remote sensing technologies, data analytics, and intelligent automation functionalities, thereby enhancing overall road safety for drivers, passengers, and pedestrians.

Key components within the market for remote sensing device (RSD) vehicle intelligence systems include sensors, analog integrated circuits (ICs), processors, and memory. Sensors detect and measure physical properties such as speed, distance, temperature, or pressure. The system supports various advanced driver assistance and monitoring functionalities such as adaptive cruise control (ACC), blind-spot detection systems, park assist systems, traffic jam assist systems, drowsiness monitoring or alertness sensing systems, across a wide array of vehicles including passenger cars and commercial vehicles.

The remote sensing device (RSD) vehicle intelligence system market research report is one of a series of new reports that provides remote sensing device (RSD) vehicle intelligence system market statistics, including the remote sensing device (RSD) vehicle intelligence system industry global market size, regional shares, competitors with remote sensing device (RSD) vehicle intelligence system market share, detailed remote sensing device (RSD) vehicle intelligence system market segments, market trends, and opportunities, and any further data you may need to thrive in the remote sensing device (RSD) vehicle intelligence system industry. These remote sensing device (RSD) vehicle intelligence system market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The remote sensing device (RSD) vehicle intelligence system market includes revenues earned by entities by providing services such as installation and calibration, data collection and processing, software integration, maintenance and support. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The remote sensing device (RSD) vehicle intelligence system market consists of sales of cameras, radar sensors, lidar sensors, and ultrasonic sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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