Global Advanced Driver Assistance System (ADAS) Market
Global Advanced Driver Assistance System (ADAS) Market was valued US$ 23.2 Bn in 2017 and is expected to reach US$ 89.8 Bn by 2026, at a CAGR of 18.43 % during the forecast period.
Rising traffic safety issues coupled with encouraging monitoring standards regarding the installation of these systems will primarily drive the industry growth in near future. Several governments across the globe have required the installation of ADAS, ensuring road safety. For example, in July 2010, Directive 2010/40/EU was executed in Europe for deployment of these systems in vehicles across the region. High acceptance from the emerging countries of Asia Pacific due to the rising disposable income of people will further accelerate the revenue generation. Rising demand from the compact cars, especially from China and Japan will also drive the advanced driver assistance system market share by 2026.
High demand for luxury and premium vehicles across the globe will result in rising adoption of ADAS, so increasing the product penetration. Shifting preference of OEMs towards image sensors will contribute significantly in ADAS market growth. It is attributed to their high pixel quality than the traditional automobile cameras, further enhancing the demand for various applications including blind spot detection, surround view, and park assist systems.
Based on sensors, radars are expected to hold highest ADAS market share during the forecast period. Capability of signal penetration by mediums that include fog, clouds, snow, and insulators are key features expected to drive the segment demand. Also, effective target velocity determination and object distance measurement is contributing to the RADAR system market growth. Shifting manufacturer preference for component automation is improving the RADAR adoption among OEMs. These sensors are helping in accident prevention caused by driver error, drowsiness, and distraction, in turn, fuelling the growth of global advanced driver assistance system market.
According to technology segment, parking assist system guides the vehicle into the parking space, the driver is simply responsible for speed control, parking assist system is expected to dominate the global Advanced Driver Assistance System market in 2026.
High revenue generation is attributed to its low price that allows aftermarket approval by medium and small car owners. Strong occurrence in the industry over the past years also contributes significantly to the industry growth. Rapidly falling prices of these systems will further support the segment’s dominance
North America held the highest market share in 2017. The region has witnessed a substantial increase in the testing procedures of these ADAS features. Additionally, it is the second largest vehicle producer across the globe. Relatively higher adoption of ADAS as compared to other regions coupled with the presence of established industry participants will further support the regional dominance. Strict regulations regarding driver safety will also impact the revenue generation obviously.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Advanced Driver Assistance System (ADAS) Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Global Advanced Driver Assistance System (ADAS) Market.
Scope of Global Advanced Driver Assistance System (ADAS) Market:
Global Advanced Driver Assistance System (ADAS) Market, By Technology:
• Adaptive Cruise Control
• Automatic High Beam Control
• Autonomous Park Assist
• Blind Spot Detection
• Driver Monitoring
• Forward Collision Warning
• Front Lighting
• Night Vision
• Head Up Display
• Lane Departure Warning
• Park Assist
• Surround View System
• Traffic Sign Recognition
• Tire Pressure Monitoring System
Global Advanced Driver Assistance System (ADAS) Market, By Sensor:
• Image Sensor
Global Advanced Driver Assistance System (ADAS) Market, By Vehicle:
• Passenger Car Vehicle(PCV)
• Light Commercial Vehicle(LCV)
• Heavy Commercial Vehicle(HCV)
Global Advanced Driver Assistance System (ADAS) Market, By Distribution Channel:
Global Advanced Driver Assistance System (ADAS) Market, By Geography:
• North America
• Middle East & Africa
• Latin America
Key Players operating in the Global Advanced Driver Assistance System (ADAS) Market:
• Bosch Group
• Autoliv AB
• Delphi automotive
• Continental Ag
• Harman International
• Magna International Inc.
• Gentex Corporation
• Mobileye N.V.
• Hyundai Mobis
• Takata Corporation
• TRW Automotive
• Renesas Electronics Corporation
• Robert Bosch GmbH
• Panasonic Corporation
• Texas Instruments
• Aisin Seiki Co.
• NVIDIA Corporation
• ZF Friedrichshafen
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