Advanced Driver Assistance System (ADAS) Market to grow at 12.24% CAGR and reach notable market value during 2019 and 2023 due growing demand for new and improved technologies for providing safety features in automobile, increasing purchasing power of buyers, and government initiatives of mandating regulations over usage of driver assistance system into automobiles among others.
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Advanced Driver Assistance System (ADAS) Market Key Players:
Robert Bosch Automotive Steering GmbH, DENSO CORPORATION, Panasonic Corporation, Delphi Automotive LLP, Valeo, Magna International Inc, HELLA KGaA Hueck & Co., Continental AG, Hitachi Ltd., and ZF Friedrichshafen AG
The increasing number of road accidents has propelled the adoption of safety features in vehicles. This, in turn, is expected to fuel the growth of the Advanced Driver Assistance System (ADAS) market over the next couple of years. The Advanced Driver Assistance System (ADAS) market is completely dependent on the automotive industry. Thus the increasing or decreasing demand of the automotive industry directly has an impact on the adaptive front light systems market. The safety feature of the technology also benefits the pedestrians, which is anticipated to have a positive influence on the market expansion.
Advanced Driver Assistance System (ADAS) are also gaining traction of the market due to enhanced driving experience. Additionally, it offers different features such as automated lighting, automatic brake, incorporates traffic warnings, adaptive cruise control, connection with smartphones, danger alert, etc. These are projected to favor the proliferation of the advanced driver assistance system market over 2023. As per MRFR analysis, the global Advanced Driver Assistance market was valued at USD 9.153 million in 2016 which is expected to reach USD 21.921 million by 2023 with a CAGR of 12.24%.
Advanced Driver Assistance System (ADAS) System Market Segmentation:
By technology, the Advanced Driver Assistance System (ADAS) market has been segmented into adaptive cruise control, adaptive front lights, intelligent park assist, pedestrian protection, blind spot detection, drowsiness monitor, head up display, and others.
By vehicle type, the global Advanced Driver Assistance System (ADAS) market is segmented into passenger vehicle and commercial vehicle.
By radar type, the Advanced Driver Assistance System (ADAS) market has been segmented into radar sensor, lidar sensor, camera sensor, and ultrasonic sensor.
The market for Advanced Driver Assistance System (ADAS) is expected to grow in the North American region with an increase in demand for automobiles, majorly in the United States. Existence of major manufacturers in this region combined with availability of sophisticated technologies enables the Advanced Driver Assistance System (ADAS) market to flourish.
In the European region, the commercial vehicles are expected to grow with a CAGR of 10.58%, owing to the growth in the home delivery sector. For the safe distribution of goods and efficient city transportation, original equipment manufacturers in the European region are focusing on the advanced safety features for these vehicles, which will be a major driver for market growth in the region.
The U.K, Germany, and France account for most of the market share of Advanced Driver Assistance System (ADAS) in this region. The growth of the Asia-Pacific region can be attributed to the increase in adoption of passenger cars and therefore, the increase in adoption of ADAS in the passenger cars. The recent shift in the preference from mileage to vehicle looks and features is also expected to result in the high demand for Advanced Driver Assistance System (ADAS). The global Advanced Driver Assistance System (ADAS) market is also expected to grow during the forecast period owing to increasing population, rapid industrialization and aggressive expansion of manufacturing sector.
BrainChip, an American company, became the first one to produce spiking neural network architecture – the Akida Neuromorphic System-on-Chip (NSoC). The Akida NSoC is developed for use in edge applications such as drones, Advanced Driver Assistance System (ADAS) (ADAS), etc.
WABCO Vehicle Control Systems, an American provider of mobility solutions, has inked multiple business deals with companies across Europe, the United States, and the Asia Pacific. The company will provide upgradations to support the OEMs and Advanced Driver Assistance System (ADAS).
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porters Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Advanced Driver Assistance System (ADAS) Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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