Increasing Implementation of Autonomous Vehicles in Shared Mobility Expected to Propel the Growth of the Global ADAS & Autonomous Driving Component Market

The Global ADAS & Autonomous Driving Component market is growing at a high rate on account of burgeoning investment toward the development of automotive electronics sensors technology, surging demand for automation in automobiles from high-income consumers, and increasing deployment of sensors in hybrid, semi hybrid, and electric cars. Moreover, rising spending toward the developments in connected infrastructure and intelligent transportation systems in developed and developing countries, rising implementation of autonomous vehicles in shared mobility coupled with growing the demand for ADAS features in commercial vehicles, and boost in adoption of ADAS and autonomous driving solutions due to escalating technological advancement in the automotive industry are some of the factors strongly contributing toward the growth of the market in the forecast period.

According to MarkNtel Advisors’ research report titled “Global ADAS & Autonomous Driving Component Market Analysis, 2020”, the Global ADAS & Autonomous Driving Component market is anticipated to grow at a CAGR of around 20% during 2020-25. Based on Vehicle Type, Passenger Car acquired the majority market share in the Global ADAS & Autonomous Driving market in 2019. The growth of the segment is attributed to rise in disposable income, burgeoning passenger car production, and rising demand for high-end passenger cars, thus surging the demand for ADAS and autonomous driving components. Moreover, the escalating inclination toward e-vehicles in order to curb the CO2 emission and introduction of low-cost passenger cars inclusive of all the autonomous features are some of the factors placing a positive impact toward the growth of the market in the forthcoming years.

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“Global ADAS & Autonomous Driving Component Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for ADAS & Autonomous Driving Component providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

The epidemic of COVID-19 has impacted the market growth on account of disruption in the supply chain due to lockdown imposition, which resulted in significant decline in the demand for vehicles due to temporary shutdown of the automotive industry. However, the market is coming back on the track as well due to surge in the demand for vehicles that has been witnessed in both developed and developing countries, thus the market of ADAS & Autonomous driving component is anticipated to grow at a steady rate in the near future.

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North America Acquired the Highest Market Share
North America acquired the highest market share in 2019. US acquired the majority market share in the North America segment owing to the factors such as growing number of autonomous vehicles, boost in government regulations for mandatory adoption of ADAS in vehicles, and early deployment of robotaxis and driverless ridesharing. Moreover, the burgeoning trend of autonomous mobility-as-a-service (MaaS), growing adoption of sensor fusion technique among OEMs for luxury vehicles, along with rollout of 5G technology enhancing the autonomous driving components, and significant rise in road fatalities are some of the factors anticipated to bolster the growth of the ADAS & Autonomous Driving Component Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global ADAS & Autonomous Driving Component Market Analysis, 2020”.

According to MarkNtel Advisors, the key players with a considerable market share in the Global ADAS & Autonomous Driving Component market are Analog Devices Inc., Autoliv Inc, Continental AG, Delphi Automotive PLC, DENSO Corporation, HERE, IBEO Automotive Systems GmbH, Infineon Technologies AG, Intel Corporation, LeddarTech, etc.

Market Segmentation:
1. By Level of Automation (Leverl1, Level 2, Level 3, Level 4, Level 5)
2. By Vehicle Type (Passenger Car, Commercial Vehicle, Light Commercial Vehicle, Heavy Trucks, Heavy Buses)
3. By Components Type (Camera, Radar, Ultrasonic Sensors, LiDAR, Electronic Control Unit)
4. By System (Adaptive Cruise Control (ACC), Adaptive Front Light (AFL), Automatic Emergency Braking (AEB), Blind Spot Detection (BSD), Cross-Traffic Alert (CTA), Driver Monitoring System (DMS), Forward Collision Warning (FCW), Intelligent Park Assist (IPA), Lane Departure Warning (LDW), Night Vision System (NVS), Pedestrian Detection System (PDS), Road Sign Recognition (Rsr), Tire Pressure Monitoring System (TPMS), Traffic Jam Assist (TJA))
5. By Offering (Hardware, Software),
6. By Region (North America, Europe, Asia-Pacific, Middle East, and Africa, South America)
7. By Countries (U.S, Canada, Mexico, Brazil, Argentina, UK, France, Germany, Spain, Italy, UAE, Saudi Arabia, South Africa, China, Japan, India, Australia, South Korea, Others)
8. By Company (Analog Devices Inc., Autoliv Inc, Continental AG, Delphi Automotive PLC, DENSO Corporation, HERE, IBEO Automotive Systems GmbH, Infineon Technologies AG, Intel Corporation, LeddarTech, Others)
Key questions answered in the study:
1. What are the current and future trends of the ADAS & Autonomous Driving Component industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the ADAS & Autonomous Driving Component industry?
5. What is the customer orientation, purchase behavior, and expectations from the ADAS & Autonomous Driving Component firms across various regions?

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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

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