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Business impacts of COVID-19 on Advanced Driver Assistance Systems Market. Strategies of major industry competitors

05-21-2020 08:46 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Intelligence

Business impacts of COVID-19 on Advanced Driver Assistance

Due to the rising demand for safety and comfort features in vehicles, owing to the swift advancements in technology, the demand for advanced driver assistance systems (ADASs) is predicated to boom in the coming years. The rapid advancements in the sensor technology have propelled innovations and developments in electronic equipment, which is promoting the adoption of advanced systems in vehicles, by various manufacturers across the globe. Furthermore, the enhanced comfort and support features provided by ADASs, such as parking aid and cruise control, are further boosting the demand for these systems.

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The mushrooming volume of sales of connected cars across the world, on account of the rapid technological advancements, is another major factor fuelling the growth in the demand for ADAS. Moreover, the rising regulations by various governments, especially the ones in developed countries, aimed at increasing vehicular safety, are further pushing the demand for ADAS. Due to these factors, the global ADAS market is expected to witness a massive increase in its value, not only in developed nations, but the developing ones as well.

The global ADAS market is currently witnessing a skyrocketing number of collaborations and partnerships amongst major companies, in order to expand their consumer base and geographical footprint and also enhance their product portfolio. For instance, in 2015, Valeo SA signed two agreements with Mobileye NV and Safran SA, with the aim of developing front-facing camera solutions and sensor-fusion-technology-based products, with the help of Mobileye's EyeO computer vision algorithms and microprocessors, and increasing the development of driving aids for autonomous vehicles.

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o By Component- System, and Sensor
o By Region - North America, Europe, Asia-Pacific, and Rest of the World
Global ADAS Sensor Market, By Technology
o Ultrasonic Sensor Market
o Infrared Sensor Market
o Radar Sensor Market
o Image Sensor Market
o LiDAR Sensor Market
o Laser Sensor Market
Global ADAS System Market, by Type
o Tire Pressure Monitoring System (TPMS) Market
o Drowsiness Monitoring System (DMS) Market
o Park Assist System Market
o Adaptive Cruise Control System (ACCS) Market
o Blind Spot Detection System (BSDS) Market
o Lane Departure Warning System (LDWS) Market
o Adaptive Front Lighting System (AFLS) Market
o Others (Including night vision system and driver monitoring system) Market

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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