Press release
Advanced Driver Assistance Systems (ADAS) Market Projected to Grow Steadily During 2014 - 2020
The global advanced driver assistance systems market is increasing rapidly due to various factors such as stringent government norms related to safety and consumer preferences shifting to new technology advancement and active safety features. The global advanced driver assistance systems market is expected to register 16% to 18% CAGR for the forecast period. The global advanced driver assistance systems market is geographically segmented into seven key regions which are North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan and Middle East & Africa. As of 2013, North America registered the largest share in global advanced driver assistance systems market followed by Europe and Asia Pacific region respectively. In terms of growth rate Asia Pacific segment is projected to register highest growth in global advanced driver assistance systems market with double digit CAGR, closely followed by Japan and South Korea. The growth in Asia Pacific segment of the global advanced driver assistance systems market is fueled by increasing penetration rate of active safety systems especially in region like China and India due to supporting macroeconomic factors such as rising income and purchasing power, changing lifestyle to due growing urbanization and increasing awareness about active safety systems. Additionally, countries like Japan and South Korea is also forecast to register significant growth of demand inadvanced driver assistance systems and is expected to account for double digit growth in terms of revenue in the global advanced driver assistance systems market due to stringent government legislations and safety norms.
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The global advanced driver assistance systems market is further segmented into channel which include original equipment manufacturers (OEMs) and aftermarket. OEMs accounts majority of share in terms of revenue in the global advanced driver assistance systems market, and is forecast to maintain its dominance for the forecast period in global advanced driver assistance systems market. On the basis of vehicle type the global advanced driver assistance systems market is further segmented into passenger vehicle and commercial vehicle sub-segments. As of 2013, the passenger vehicle segment dominates the overall global advanced driver assistance system, and it is expected to maintain its dominance in global advance driver assistance systems market throughout the forecast period. Currently, advance driver assistance systems are majorly available as factory installed equipment in luxury in premium cars but in future these systems are expected to witness increased penetration in low segments cars too, thereby giving rising the demand in global advance driver assistance systems market.
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The technology segment of global advanced driver assistance system includes infrared sensors, laser sensors, radar sensors, image sensors, and ultrasonic sensors. On the basis of type the global advanced driver assistance systems market includes adaptive cruise control (ACC), blind spot detection (BSD), park assist, lane departure warning system (LDWS), tire pressure monitoring system (TPMS), and others (night vision, driver monitoring system, forward collision warning, heads up display).The adaptive cruise control segment of the global advanced driver assistance systems market is predominant in terms of revenue, and it is expected to maintain its dominance throughout the forecast period in the global advanced driver assistance systems market. The penetration rate of adaptive cruise control is high, whereas other ADAS such as TPMS, LDWS, night vision and forward collision warning is low especially premium and low-range cars. The global advanced driver assistance systems market is fragmented with number of global and local player. The key players in the global advanced driver assistance systems market are Continental Ag, Delphi Automotive Plc, Denso Corporation, Magna International and Robert Bosch GMBH.
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