Growth opportunities in the Advanced Driver Assistance Systems Market look promising over the next six years. This is mainly due to the continuous technological advancements and growing need for harmless driving to reduce the incidences of injuries.
Advanced Driver Assistance Systems Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The accelerating penetration of electric automobiles led by the augmenting initiatives and measures by the government to promote these vehicles to encounter the rising apprehension concerned with global warming, air pollution, and depletion of fossil fuels is one of the most prominent drivers proliferating the growth of the global advanced driver assistance systems (ADAS) market. Also, the ongoing technological expansion for the enlargement of sophisticated driver assistance systems and the surging requirement for an effective and secure driving experience to curb the chances of accidents, which will further bring enormous growth opportunities for the market. In addition, the rigorous governmental norms concerned with vehicle safety, accompanied by the development of autonomous vehicles, have persuaded the end-users to choose these systems. Moreover, the growing per-capita income and the altering lifestyle of individuals are raising the demand for machines, and a steep increase in the supply of luxury cars will positively influence the market growth. The system imparts several notable features such as help in lane-keeping, lane-changing, parking assistance systems, recognition of traffic signs which helps to offer a safe driving experience. However, the high cost of these systems and inadequate required infrastructure will hinder market growth.
System Segment Drivers
Based on the system, Automatic Emergency Braking (AEB) is projected to witness a higher CAGR during the forecast period. This is primarily due to the obligatory norms of employing the AEB system in vehicles like buses and trucks.
Regional Drivers
Based on the regional coverage, Asia-Pacific is expected to expand at a higher CAGR during the forecast period. This is mainly due to the aggravating endorsement led by the strict safety rules and regulations for installing vehicle safety systems. In addition to this, the rising recognition related to safety coupled with the amplification in the disposable income is fuelling the purchasing power of the consumers, thereby driving the advanced driver assistance systems (ADAS) market share.
Advanced Driver Assistance Systems Market’s leading Manufacturers:
- NVIDIA Corporation
- Valeo
- Intel Corporation
- Continental AG
- Robert Bosch GmbH
- Magna International Inc.
- Hyundai Mobis
- Denso Corporation
- Aptiv
- ZF Friedrichshafen AG
Advanced Driver Assistance Systems 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)
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