The automotive industry is in the process of constant evolution since its origin in the nineteenth century. The increasing number of on-road vehicles provide immense number of opportunities as well as also leads to complications for safer and more secure movement of goods and passengers. In the recent times, there have been many technological advancements in the automotive industry, which in turn, is expected to further advance the concept of vehicle safety on public roads. The dynamic evolution of the automobile industry is attributed primarily to the changing consumer preferences, growing focus towards driver safety, environmental concerns, and stringent government regulations which are focusing towards crash avoidance rather than crash survival. In the past years, automobiles have undergone rapid technological advancements in terms of vehicle performance, passenger safety, communication capabilities, and driving comfort. These improvements have led to a surge in the number of on-road vehicles, thus raising the need for the safer movement of automobiles. These goals of automakers are profoundly supported by several federal authorities such as “National Highway Traffic Safety Administration” (NHTSA), “European Commission” (EC), and “Ministry of Land, Infrastructure, Transport and Tourism” (MLIT), among others. This is expected to advance the vehicle safety on public roads with an early integration of advanced driver assist systems (ADAS) in automobiles. Considering ADAS as the founding stone, automakers are expected to advance to semi-autonomous vehicles and ultimately, towards fully-autonomous vehicles.
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The ADAS and autonomous driving components market is also proportionally relative to the development of the autonomous vehicles. The need for safety, rising demand for luxury cars as a result of the increasing disposable income of the developing countries, and stringent government regulations have influenced the autonomous vehicle market to substantially enhance its sales, which has subsequently propelled the growth of its components.
The ADAS and autonomous driving component market is anticipated to grow at a significant rate during the forecast period 2018-2028. The growth is attributed to the rise in demand of autonomous driving solution for passenger cars such as auto pilot, lane departure system, and blind spot detection, among others, along with growing emphasis toward road safety, rapidly increasing number of automated vehicles, reduction in road congestion, and growing demand for safety sensors.
North America dominated the global ADAS and autonomous components market with a prominent share in the year 2017. Factors such as initiatives made by the federal bodies to increase road safety standards, high demand for automated cars, and increased manufacturing activities in the U.S. and Canada are expected to propel the growth of the autonomous vehicle market in the region. Thus, this increase in autonomous vehicle will boost the ADAS and autonomous driving components market in North America. Additionally, increasing number of high-end passenger cars (ADAS vehicles) such as BMW, Audi, Mercedes Benz, and Volvo among others is expected to boost the market growth. The ADAS and autonomous driving component market in the APAC is expected to grow at a faster rate in comparison to Europe and North America between 2018 and 2023. Factors such as the growing automotive industry, rising disposable income, and increasing manufacturing facilities are some of the factors contributing to the growth of the market in the APAC region. Additionally, factors such as stringent government rules and regulations for road safety boost the market growth.
The key players in the global ADAS and autonomous driving component market are Autoliv Inc., Continental AG, Aptiv PLC, DENSO Corporation, Magna International Inc, Murata Manufacturing Co. Ltd, Quanergy Systems Inc, Robert Bosch GmbH, Valeo, Velodyne Lidar, and ZF Friedrichshafen AG, among others. These companies adopt different strategies such as business expansions, product launches, and product developments, among others in order to enhance its market share and to increase its geographical foothold.
This report is a meticulous compilation of research on different segments of approximately 150 players in the ADAS and autonomous driving component market including market breakdown by component type, vehicle type, level of autonomy, and geography. The report further takes into consideration the market dynamics and the competitive landscape. Moreover, it draws upon insights from in-depth interviews of key opinion leaders of more than 25 leading companies, market participants, and vendors. The report also profiles around 18 companies which are key contributors in the market, including Analog Device, Inc, Infineon Technologies AG, Intel Corporation, NXP Semiconductors, Texas Instruments Incorporated Continental AG, Ibeo Automotive Systems GmbH, Robert Bosch GmbH, Denso Corporation, LeddarTech, Quanergy Systems, and Velodyne LiDAR, Aptiv, Autoliv, Inc., Magna International Inc., Murata Manufacturing Co., Ltd, Valeo, and ZF Friedrichshafen AG.
Key questions answered in the report
- What is ADAS and autonomous driving?
- How big is the ADAS and autonomous driving component market in terms of revenue and what is the CAGR (2018-2028)?
- What is the revenue generated by the different levels of autonomy such as level 1, level 2, level 3, level 4, and level 5?
- What is the revenue generated by the different vehicle types such as passenger cars and commercial vehicle?
- What is the revenue generated by the different ADAS and autonomous driving component such as camera, ultrasonic sensors, radar, LiDAR, and ECU?
- What is the revenue generated by the different regions such as North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW)?
- Which are the key companies operating in the ADAS and autonomous driving component market?
- Which global factors would impact the ADAS and autonomous driving component market?
- What are the key market strategies adopted by the ADAS and autonomous driving component market players?