Editor's Note: In the article below, StradVision CEO Junhwan Kim talks about the advances being made in autonomous vehicle safety, and what it will take to get that technology to the masses in the coming years.

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By Junhwan Kim, StradVision CEO  

As the number of vehicles around the world rapidly expands, the occurrence of traffic accidents and their fatality rate is increasing. According to the World Health Organization, more than 1.3 million people worldwide die in road accidents every year, and traffic accidents kill one person every 24 seconds.

An increase in the number of elderly drivers is also emerging as a new concern. In most developed countries, the proportion of elderly drivers over the age of 65 started to increase steadily in the 2000s, and by 2019, it increased by more than 50 percent. For example, the number of drivers over the age of 65 in the U.S., compiled by the U.S. NHTSA in 2019, exceeded 54.1 million, which is a significant increase of 35% compared to 2010. The reason we need to prepare for the aging of drivers is because of the high fatality rate in that age range, compared to other age groups in the event of a traffic accident. According to a survey of senior driver safety conducted by RAND Corporation, these drivers over the age of 65 have a lower accident rate than the average adult driver, but are 573% more likely to die in an accident.

Many countries are devising automobile safety policies to reduce traffic accidents and mortality, and recommend that automakers reflect these safety policies in driving technology. In response to these changes in government policy, OEMs are expanding the introduction of the Advanced Driver Assistance Systems (ADAS) for the safety of drivers and pedestrians. According to data released in 2021 by Strategy Analytics, the global ADAS industry size has already exceeded $20 billion in 2020 and is expected to reach $49.3 billion by 2025, a rapid growth rate of 17.7% per year.