Driver assistance system is the technology which provides support in driving a vehicle by assisting drivers via connected sensors. The Global Driver Assistance System market is expected to witness high growth due to growing trends in automobile industries and government regulations for safety of end-consumers to lower down the no. of road accidents.
Varying governmental approach towards automobile, driver and passenger safety have imposed many regulations which mandate automobile manufacturers to deliver driver assistance features. The driver assistance system industry has undergone deep transformation and has swiftly evolved into a promising business opportunity from past couple of years.
The driver assistance system provides various safety feature such as night vision, auto-adjust, Drowsiness monitor, Blind spot among others help the driver to the vehicle more steadily with increased visibility. The improved economy status globally is also supporting the market of Driver Assistance Systems.
The Global Driver Assistance System market accounted for $11.66 billion in 2016 which is expected to grow over $112.69 billion through by 2027 at an estimated CAGR of 22.90% from 2016 to 2027.
The key driving factors of the driver assistance system market are- mandating regulations, improving economic status, and advance features offered by driver assistance however the factors such as the complex & expensive features and sophisticated maintenance are restraining the market growth.
The Key Players in Driver assistance system Market are- Aisin Seiki co. ltd(Japan) , Autoliv Inc.(Sweden), Continental AG(Germany), Delphi Automotive Plc (U.K.), Denso Corporation (Japan), Qualcomm Technologies, Inc.(U.S.) ,Gentex Corporation(U.S.), Hella Kgaa Hueck & Co.(Germany), Hitachi Ltd(Japan), Magna International, Inc.(Canada), Robert Bosch Gmbh (Germany) Among Others.
Global Driver Assistance Systems Analysis & Forecast, 2027
- To provide detailed analysis of the market structure along with forecast for the next 5 years of the various segments and sub-segments of the Global Driver Assistance Systems development and demand market.
- Upcoming technologies, high growth geographies and countries were identified.
- Regional and country specific demand and forecast for driver assistance system were studied.
- Key segments covered in the report are: type, technology and region.
- Unit breakdown for all different classification was finalized; and same was referred for forecasting, keeping few assumptions into factor
- For all the regions: forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
- Historical trend is identified to forecast and estimate the future value data
- Research Organizations
- Automotive industries
- Investment firms
- Cloud service vendors
- Government Agencies
- The global driver assistance system market is estimated to grow from $ 11,659.80 million to $ 112,691.59 million by 2027, growing at a CAGR of 22.90% from 2016 to 2027.
- In 2016, Adaptive Cruise Control System (ACC) is estimated to generate highest revenue of $ 2,118.17 million globally, which would increase at CAGR of 18.16 % to $13,280.04 million by 2027.
- The global market size of Park Assist technology is estimated to grow from $1,828.00 million in 2016 to $26,904.13 million by 2027, at a CAGR of 27.69% for the same period.
- The global demand for Ultrasonic sensors is projected to reach $8,764.89 million in 2016, which would then grow at a CAGR of 23.62%, and reach $90,293.89 million by 2027
Regional and Country Analysis of Driver Assistant Service Market
In 2016, the European region is estimated to lead the market with the largest share of 37.4%, followed by North America, Asia-Pacific, and ROW. The demand trend by 2027 will be the same; Europe is expected to lead the market in 2027 with a highest share of 40.1% followed by North America and Asia-Pacific. The reason of Europe been a dominating region is the availability of high-tech automobile industries in the region which projected to grow in the forecasted period.
The reports also cover country level analysis:
- North America
- Rest of the Europe
- Asia – Pacific
- South Korea
- Rest of the APAC
- Rest of the World