As per the latest report published by Variant Market Research, Global Advanced Driver Assistance Systems (ADAS) Market is estimated to reach $62.7 billion by 2024; growing at a CAGR of 10.8% from 2016 to 2024. Advanced driver assistance systems, or ADAS, are systems to assist the driver in the driving procedure. ADAS are developed to automate, adapt, and enhance vehicle systems for safety & improved driving. Key factors accountable for the growth of ADAS market comprise the introduction of driver support technologies in mid segment cars, and the rising awareness regarding vehicle & pedestrian safety. ADAS technologies assist everyday driving tasks by reducing the demands on the driver and adding comfort, which helps enhance luxury and comfort, complementing safety with these benefits.
Some of the factors driving the growth of global advanced driver assistance systems market are strict government protocols, and consumer preferences shifting towards active safety features & advanced technology. However, pricing pressure, inflation, and complexity in testing systems are the factors hampering the market growth. Furthermore, deployment of ADAS in low-cost cars, and improved socio-economic conditions resulting in an increasing demand for luxury cars is expected to pose numerous growth opportunities for the market in the forthcoming years.
The global advanced driver assistance systems market is segmented into type, technology, and geography. Segmentation by type includes adaptive cruise control, tyre pressure monitoring system, park assist, drowsiness monitor, lane departure warning system, blind spot detection system, and other types. By technology, the segment is further sub-segmented into radar sensor, ultrasonic sensor. infrared sensor, image sensor, and laser sensor.
Based on geography, global advanced driver assistance systems market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico, whereas Europe segment consists of UK, Germany, Italy, France, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Prominent players operating in the market include Renault Group, Denso Corporation, Delphi Automotive PLC, Continental AG, Robert Bosch GmbH, Continental AG, Continental AG, Autoliv Inc., General Motors Company, Magna International Inc., and Ford Motor Company among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Advanced Driver Assistance Systems Market with respect to major segments such as type, technology, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Advanced Driver Assistance Systems Market has been included in the report
- Profile of the key players in the Global Advanced Driver Assistance Systems Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Advanced Driver Assistance Systems (ADAS) Market
- Adaptive Cruise Control
- Tyre Pressure Monitoring System
- Park Assist
- Drowsiness Monitor
- Lane Departure Warning System
- Blind Spot Detection System
- Other Types
- Radar Sensor
- Ultrasonic Sensor
- Infrared Sensor
- Image Sensor
- Laser Sensor
- North America
- ·Rest of Europe
- ·South Korea
- ·Rest of Asia-Pacific
- ·South America
- ·Middle East