Report Predicts Advanced Driver Assistance System (ADAS) Market revenue to hit USD 67 billion by 2024, Key Players- Bosch, Autoliv, Magna International, Continental, Texas Instruments

Advancements in sensors and tools for facilitating ADAS technologies along with improvements in product efficiency are supporting the industry proliferation over the study timeframe. Evolution of modern computer vision analysis systems for effective object detection along with strong outlook for night vision and auto light control features are positively influencing the market penetration till 2024.

Park assist systems will account for the maximum volume share at around 20% in 2017. This dominance is attributed to the increasing adoption of these systems in multiple cars owing to lower costs and easier installation process. Further, the availability of reliable and lower cost alternatives in the aftermarket along with supporting government regulations mandating the availability of these systems across all personal vehicles are further strengthening the segment growth. For instance, the Indian government announced the mandatory standard fitment of all vehicles with airbags and parking assist systems sold after July 2019.

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Growing preference for innovative sensing systems for avoiding accidents and crashes are expanding the ADAS market over the forecast timeframe. According to the World Health Organization (WHO), road traffic related deaths accounted for over 1.25 million cases across the globe. Stringent government regulations pertaining to vehicle safety along with mandatory fitment of multiple safety equipment in vehicles including automated emergency braking and parking sensors are supporting the industry proliferation till 2024.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

• Robert Bosch
• Autoliv
• Magna International
• Continental AG
• TRW Automotive
• Texas Instruments.

Higher cost of the components required for facilitating the ADAS systems along with the requirement for appropriate maintenance, with higher priced replacement parts and components may limit the product adoption over the projected timeframe. However, industry participants are continuously investing in increasing the localization content of their components for reducing the part cost and meeting the economies of scale easily.

ADAS market share from image sensor will grow significantly at around 15% during the study period. This growth can be attributed to the usage of these sensors for facilitating various ADAS systems including night vision, autonomous park assists, blind spot detection, surround view system, lane departure warning, and traffic sign recognition. Higher demand for luxury cars with such installed systems fitted as standard will further boost the industry revenue.

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The OEM segment is expected to generate maximum revenue share owing to the increasing investments by industry participants for improving the safety features across their product portfolio. Availability of extended warranties in-case of repairs and replacements along with convenient insurance facilities are further supporting the industry demand. Automobile manufacturers install ADAS units in their vehicles during the production phase and offer them as standard fitment. The replacement parts are available at the OEM as well as aftermarket workshops, contributing to the revenue generation.

Passenger cars dominated the ADAS industry share owing to rising automotive production across the globe. Increasing disposable income coupled with the availability of multiple car models at varied price range will support the industry growth. Stringent government regulations mandating the standard fitment of multiple ADAS technologies in PCVs are enabling car manufacturers to offer these features as standard across their product portfolio. For instance, Ford announced the standard fitment of ADAS suit including autobraking and lane-keeping features across their vehicles by 2020.

Asia Pacific will pose highest growth rate of around 15% during the forecast time span owing to the increasing availability of cars from major manufacturers with ADAS as standard fitment. China contributes significantly towards regional growth owing to rising domestic demand coupled with increasing automobile production over the projected timeframe.

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Major industry participants of the ADAS market include Robert Bosch, Autoliv, Magna International, Continental AG, TRW Automotive, and Texas Instruments. Other notable industry participants are Corporation, Harman International, NVIDIA Corporation, Delphi, Aisin Seiki Co., NXP Semiconductor Inc, Denso and Hyundai Mobis. Industry participants are engaged in providing technologically advanced products for improving their market share.

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