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The Global Advanced driver assistance System (ADAS) Market Size is expected to reach USD 78 Billion in 2021, rising at a growth rate of 27.1% CAGR during the forecast period (2016-2022).
Advanced driver assistance systems (ADAS) are electronic components installed in vehicles, which present an intelligent driving experience to the driver. These systems comprise of unique sensors such as ultrasonic, image, RADAR, LiDAR, infrared and LASER. Deploying ADAS to enhance comfort levels and ensure safety and security on road is the majorly growing trend within the automobile sector. The implementation of ADAS has been considered as a revolution as it provides dynamic features such as adaptive cruise control, parking assistance, blind spot detection, lane departure warning, drowsiness monitoring, tire pressure monitoring and night vision. The developments within the automotive industry aren?t limited just to enhancements in the design or engines, but developments also have been witnessed in areas such as safety of the vehicles, passengers and also the pedestrians.
The growth of the market is primarily driven due to growing focus on customer safety, the impending demand for comfort in driving along the need to adhere to the government regulations to ensure safety. However, factors such as pricing pressure, inflation, complexity and difficulty in testing systems are some of the biggest challenges of this industry. The major trends that would have notable growth are trends such as increased electronic content and electronic integration, deployment of ADAS in low-cost cars and a rise in number of driverless cars. The report highlights the adoption of Advanced Driver Assistance System (ADAS).
The market is fragmented based on the components into system type and sensor type. The system type is further sub-divided into Tyre Pressure Monitoring, Drowsiness Monitor System, Park Assist, Adaptive Cruise Control, Blind Spot Detection System, Lane Departure Warning System, Adaptive Front Lightning System and Others (NVS and Driver Monitoring). The sensor studied in the report includes Ultrasonic Sensor, Infrared Sensor, Radar Sensor, Image Sensor, Lidar Sensor and Laser Sensor. Based on region, Advanced Driver Assistance System Market (ADAS) market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. Europe remained the dominant region in the global Advanced Driver Assistance System Market (ADAS) market in 2015. Asia-Pacific would witness highest CAGR during the forecast period (2016-2022).
The report covers the analysis of key stakeholders of the Advanced Driver Assistance System Market (ADAS) market. Key companies profiled in the report include Magna International, Inc., Autoliv Inc., Continental AG, Denso Corporation, Valeo S.A., Robert Bosch GmbH, Ford Motor Company and BMW AG.