Advanced Driver Assistance Systems Market:
The GMI Research’s latest analysis reveals that the Advanced Driver Assistance Systems (ADAS) Market is slated to register a higher CAGR over the coming years. This is attributed to the rising penetration of electric vehicles driven by the increasing government efforts and subsidies to motivate electric vehicles to fulfill the growing concerns regarding air pollution, global warming.
Advanced Driver Assistance Systems (ADAS) Market’s leading Manufacturers:
- F Friedrichshafen AG
- Robert Bosch GmbH
- Aptiv
- Continental AG
- Denso Corporation
- Intel Corporation
- Hyundai Mobis
- Valeo
- Magna International Inc.
- NVIDIA Corporation
Advanced Driver Assistance Systems (ADAS) Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The global advanced driver assistance systems (ADAS) market is predicted to witness an upsurge in demand over the upcoming years due to the rising penetration of electric vehicles driven by the rising government efforts and subsidies to motivate the electric vehicles to fulfill the growing concerns regarding the air pollution, global warming, and depleting fossil fuels. Moreover, rapid technological advancements for the development of advanced driver assistance systems and the growing need for an efficient and safe driving experience to decrease the growing cases of accidents will further open doors for the growth of the advanced driver assistance systems market size. Rigorous government regulations regarding vehicle safety and the introduction of autonomous vehicles are promoting the end-uses to opt for advanced driver assistance systems worldwide. According to the ADAS market analysis, increasing urbanization, the rise in the per capita income, and drastically changing consumer lifestyle will boost the demand for vehicles, and growing sales of luxury cars will further support the advanced driver assistance systems (ADAS) market growth. The advanced driver assistance system provides exceptional properties, including lane-changing, traffic sign recognition, aids in lane-keeping, parking assist system, and other features, which aids in offering a safe driving experience. As per the ADAS market forecast, the high cost of systems and limited required infrastructure in the emerging economies.
Offering Segment Drivers
Based on the offering, the software is predicted to rise at a faster CAGR in the coming years due to the increasing content of software in the applications of vehicles. Furthermore, the capability of software to autonomously communicate with the other devices will further augment the growth of the market.
Regional Drivers
Based on the region, Asia-Pacific is predicted to grow at a higher CAGR due to the strong adoption of advanced driver assistance systems driven by the strict safety rules and regulations for installing the safety systems in the vehicle. Additionally, the growing awareness regarding safety, along with the growth in disposable income, is raising the purchasing power of the consumers, thus contributing to the growth of the market.
Advanced Driver Assistance Systems (ADAS) Market Segmentation:
Segmentation by System:
- Adaptive Front Light (AFL)
- Adaptive Cruise Control (ACC)
- Blind Spot Detection (BSD)
- Automatic Emergency Braking (AEB)
- Driver Monitoring System (DMS)
- Cross Traffic Alert (CTA)
- Intelligent Park Assist (IPA)
- Forward Collision Warning (FCW)
- Night Vision System (NVS)
- Lane Departure Warning (LDW)
- Road Sign Recognition (RSR)
- Pedestrian Detection System (PDS)
- Traffic Jam Assist (TJA)
- Tire Pressure Monitoring System (TPMS)
Segmentation by Component:
- Lidar Sensor
- Camera Unit
- Ultrasonic Sensor
- Radar Sensor
Segmentation by Offering:
- Hardware
- Software
Segmentation by Vehicle Type:
- Light Commercial Vehicles (LCVS)
- Buses
- Trucks
- Passenger Cars (PCS)
Segmentation by Electric Vehicle Type:
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
- Hybrid Electric Vehicle (HEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
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