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Advanced Driver Assistance System Market increasing at a CAGR of 15.9% expected to be worth US$43.27 bn by 2025, Projects TMR
The global advanced driver assistance system (ADAS) was valued at US$11.83 bn in 2016 and is anticipated to increase at a CAGR of 15.9% from 2017 to 2025. By the end of 2025, the global market is expected to be worth US$43.27 bn.
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Radar Sensors to Dominate Global Market due to Growing Applications
Advanced driver assistance system is segmented on the basis of type, technology and by region. By type, advanced driver assistance system is categorized into adaptive cruise control, adaptive head lamp, automatic/intelligent emergency braking, blind spot detection system, cross traffic alert, drowsiness monitor system, lane departure warning system, night vision, park assist, surround view camera system, time pressure monitoring system and others.
With increasing automobile buyer power, car buyers have become more interested in ADAS applications that promote comfort and economy such as parking assist, lane departure warning system amongst others. Owing to this reason, the demand for parking system and lane departure warning system are expected to gain adequate momentum.
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Based on technology, advanced driver assistance system (ADAS) market is segmented into ultrasonic sensors, image sensors, radar sensors, laser sensors and infrared sensors. In ADAS, sensors are required to monitor the surrounding vehicles. They offer very powerful solution for adaptive cruise control which can help the driver to maintain safe distance during high traffic and instantly respond to the traffic changes.
Especially, high demand for radar sensors is owing to its numerous applications in automobiles such as collision avoidance system, emergency braking system, etc. Also, image Sensors are used in several ADAS types such as night vision, cross traffic detection, fatigue warning, headlight control, traffic sign recognition, etc., which are increasingly being adopted in automobiles.
Asia Pacific to Remain at Forefront as Uptake of Automobiles Rises
Asia Pacific is expected to be the most lucrative market and lead the ADAS market in 2025. Rise in purchasing power of automobiles, stringent safety government regulations, the demand for comfort driving and focus on safety systems has impacted the automobile industry in Asia Pacific to a great extent.
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Therefore, automobile manufacturers in the region are significantly investing in R&D to bring innovative features in monitoring, warning, steering, and braking tasks for product differentiation from its competitors. Apart from Asia Pacific, North America and Europe are also expected to significantly contribute to the global ADAS market.
Major players that provide advance driver assistance system across global for installing electronic components are AISIN SEIKI Co.,Ltd, Autoliv Inc., Audi AG, BMW AG, Continental AG, Delphi Automotive PLC, Denso Corporation, Ford Motor Company, General Motors Company, Honda Motor Company, Hyundai Motor Company, Mahindra and Mahindra Ltd, Maruti Suzuki India Limited, MOBILEYE, Panasonic Corporation, Robert Bosch GmbH, and TATA ELXSI among others.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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