Advanced Driver Assistance Systems Market 2019 Global Trend, Segmentation And Opportunities Forecast To 2024

“Advanced Driver Assistance Systems Market”
Global Advanced Driver Assistance Systems Market to Grow at a Remarkable Pace till 2024

Advanced Driver Assistance Systems Industry

Description

Advanced driver assistance systems (ADAS) are electronic systems in vehicles. These systems assist the driver while driving and parking the vehicle. They provide important information about the traffic in different areas around the city, congestion levels, closure and blockage of roads, and more. These systems can also judge fatigue and distraction of the driver and send precautionary alerts. As per reports, the global advanced driver assistance systems market should reach US$ 36,000 million by 2024 from US$ 11,000 million in 2019.

ADASs provides a safe and comfortable driving experience. They help vehicles adapt, automate, and enhance their features for better safety and improved driving. These systems are also designed with an effective human machine interface. They have safety features that alert the driver about potential problems and help avoid crashes and accidents. With the increasing demand for safety features for comfortable driving, the global advanced driver assistance systems market will witness good growth in the coming years.

Report analysts believe that stringent safety rules and regulations will further boost the ADASs market over the forecast period. Also, technological advancements in ADASs and the production of multifunctional systems are likely to provide market growth opportunities. Certain factors such as complex structure, high initial cost, and reduced efficiency in bad weather conditions may restrain market growth by a small percentage. However, increasing demand for automobiles and growing safety concerns are likely to drive the overall global advanced driver assistance systems market during the forecast period.

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Segmentation:

The global advanced driver assistance systems market is divided into system type, sensor type, and vehicle type.

Based on system type, the market is segmented into drowsiness monitoring system, tire pressure monitoring system, intelligent parking assistance system, blind spot object detection system, adaptive cruise control system, adaptive front lighting system, lane departure warning system, and others.

Based on sensor type, the market is segmented into image sensor, ultrasonic sensor, LIDAR sensor, infrared sensor, laser sensor, and radar sensor. The radar sensor market is likely to register a notable growth in the coming years.

Based on vehicle type, the market is classified into passenger vehicles and commercial vehicles. The passenger vehicles segment is expected to dominate the market over the forecast period.

Regional Analysis:

North America (The United States, Canada, and Mexico), Europe (France, Germany, UK, Italy, Spain, Russia, and the rest of the region), Asia-Pacific (China, Japan, South Korea, India, Australia, Indonesia, and the rest of the region), Central and South America (Brazil, Columbia, Argentina, and the rest of the region), and the Middle East and Africa (UAE, Turkey, South Africa, Egypt, and Saudi Arabia) are the main regions taken into consideration.

Europe dominates the global ADASs market, followed by North America and Asia-Pacific. The Asia-Pacific region is growing at a good pace owing to notable contribution from Japan and South Korea. Strict safety regulations in India and China are also fueling market growth.

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Industry News:

In May 2019, HERE Technologies and Mitsubishi Electric Corporation successfully tested a hazard alert system in the US. This system helps cars warn approaching vehicles about the upcoming road dangers with lane-level precision.

 

Key Players (Competitor Profiles) :-

Aisin Seiki Company Ltd.
Applus + Idiada S.A.
Autoliv Inc.
Continental Ag
Delphi Automotive Plc
Denso Corp.
Ficosa International S.A.
Gentex Corp.
Hella Kgaa Hueck& Co.
Hellermanntyton Group
Hyundai Mobis
Imagenext Co. Ltd
Infineon Technologies
Magna International Inc.
Mobileye N.V.
Nxp Semiconductors
Omron Corp.
Panasonic Automotive Systems Co. Of America
Qnx Software Systems
Robert Bosch Gmbh
Samvardhana Motherson Reflectec (Smr)
Stmicroelectronics
Takata Corp.
Texas Instruments
Valeo S. A.
Voxx International Corp.
Zftrw Automotive Holdings Corp.

Continued…      

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