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North America Advanced driver assistance System (ADAS) Market Size is poised to grow at a growth rate of 25.8% 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. The rise in the adoption of advanced driving applications in the automotive sector has been the significant factor for the growth of the ADAS market. The demand for comfort driving has steadily grown among people, as there is an increasing need for safe driving environment. Additionally, growing per capita income and government safety regulations are also significantly contributing to the growth of the ADAS market. On the other hand, the complexity and cost pressure involved in installing applications would hinder the otherwise fast growing market. Ultrasonic sensors are anticipated to witness tremendous growth in the future, largely due to reduced prices and multiple functions of these sensors. The government on the other hand is also playing a pivotal role in driving the market for advanced driving systems by establishing safety regulations in order to reduce the traffic accidents. The report highlights the adoption of Advanced Driver Assistance System (ADAS).
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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 country, North America Advanced Driver Assistance System Market (ADAS) market is segmented into US, Canada, Mexico and Rest of North America. US remained the dominant region in the North America Advanced Driver Assistance System Market (ADAS) market in 2015. Mexico 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