Persistence Market Research (PMR), a third-platform research firm has in its report “Automotive Warning Indicators Market: Global Industry Trend Analysis 2012 to 2017 and Forecast 2017 – 2025”, too predicted high growth of automotive warning indicators market in Asia-Pacific. This is what almost all the market research firms are talking about, while PMR labels it as Automotive Warning Indicators market, others have preferred to stick to sensor market growth. Based on the application PMR has segmented automotive warning indicators market within Automotive industry, Mining industry, Construction industry, Traction industry.
The driving factors for this predicted growth include development in sensor technologies giving more accurate data. Developing economies in Asia pacific reason are now witnessing a spurt in automobiles being put on road and a car today is having a large no of sensors ranging from applications in maintenance to capturing contextual environmental data for applications like collision warning, parking assistance. The future automotive market seems to belong autonomous and connected cars where automotive indicators will play a major role. Though at present vehicle telematics based newer applications are seen as additional features/ differentiation besides usual mechanical prowess of the vehicle but practical utility of many such applications in road safety is leading to a push for making them mandatory such as cyclist detection with assisted braking will be included as part of the star rating program for the European New Car Assessment Program (Euro NCAP) starting 2018.
Indian roads have a rather higher share of accidents and deaths due to road accidents. Making some of the automotive warning indicators mandatory like a seat belt may reduce avoidable mayhem and bloodshed on our roads. Question we all should ponder is, as to what is lacking? Is it requisite technology availability, customer aversion, regulatory and economic hurdles or sheer habit of seeing accident as some thing which happens to others only. May be we have accepted accidents and loss of lives as a day to day affair lacking any sensation.