Advanced Driver Assistance Systems (ADAS) Market is surging up due to rising concerns against road accidents, increasing automobile production and high penetration of luxury cars.
Published Date | 2019 April 22
According to BlueWeave Consulting, The Advanced Driver Assistance Systems (ADAS) Market presents promising growth prospects and expected to have an upward trend over the forecast period 2019-2025. The increasing demand for a safe, efficient, and convenient driving experience and rising demand for luxury vehicles across the globe are the key factors driving the growth of the ADAS market.
The OEMs and government regulatory authorities are taking necessary steps to improve transportation by addressing major challenges like road accidents, traffic congestion, and the cost of transportation. The high scale of growth of the automotive industry is consequently persuading the use of several sensors technologies to make driving comfortable, luxurious, and safe.
The governments of various countries have also made mandates for features like Lane Departure Warning (LDW) and Automatic Emergency Braking (AEB). Numerous safety features have been developed to assist the driver and lower the number of accidents. Most of the electric vehicle makers are integrating ADAS systems in their electric cars to make it safe. For instance, the European Union (EU) has mandated the automotive makers to apt ADAS systems such as LDWS and AEBS in all heavy commercial vehicles deliberating over 7,000 Kilograms.
Adaptive Cruise Control system holds the largest market share of the Advanced Driver Assistance Systems (ADAS) market during the forecast period
Adaptive Cruise Control (ACC) is the leading system of the entire ADAS market during the forecast period 2019-2025. ACC provides much better driver safety and aids to avoid fatal road accidents. ACC is a critical part of the self-driving cars of the near future. Tire pressure monitoring system is anticipated to have significant penetration in the overall market owing to their low prices and easy aftermarket availability. Forward collision warning is expected to grow with a significant growth rate due to its requirement to assist the driver in mitigating the collisions. Its application with AEB units boosts the probability of avoiding the vehicle collisions. Moreover, a significant drop in the electronic component prices has encouraged ADAS technology adoption.
North America accounts for the largest market size in the Advanced Driver Assistance Systems (ADAS) market during the forecast period
Geographically, North America dominates the overall Advanced Driver Assistance Systems (ADAS) market and projected to lead the market over the forecast period 2019-2025, followed by Europe. The U.S is the leading country in the North America region owing to extensive research and development facilities that have made significant investments in smart automotive production methods and process automation. Asia Pacific is projected to exhibit the fastest growth owing to rising disposable income levels, increased vehicle production in developing countries like India and China, an increase in the number of luxury vehicles in countries drive the growth of the ADAS Market.
Global Advanced Driver Assistance Systems (ADAS) Market: Competitive Landscape
Companies such as Robert Bosch, ZF Friedrichshafen, Denso, Aptiv, Intel, NVIDIA, Continental, Valeo, Hella, Magna, Samsung, Aisin Seiki Co. Ltd., Delphi Technologies, Harman International, NXP Semiconductor, Panasonic Corporation, and Hyundai Mobis are the leading players of Advanced Driver Assistance Systems (ADAS) market across the globe.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of global advanced driver assistance systems market size & forecast. The report promises to provide state-of-the-art technology of advanced driver assistance systems and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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