The global advanced driver assistance systems (ADAS) market is expected to reach the market value of around US$ 140 Bn by 2026 and is anticipated to grow at a CAGR of around 21% in terms of revenue during the forecasting period 2019 – 2026.
Advance driver assistance systems commonly known as ADAS are a group of vehicle technologies that provide drivers with a smart, safe and comfortable driving experience. Such devices are much safer in terms of vehicle safety and traffic safety when programmed with a safe human computer interface. Most of the injuries are triggered by a human error, which lets ADAS adapt, optimize and improve safety and driving of automotive.
The report provides analysis of the global ADAS market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
The ADAS market growth will be driven by growing expectations for innovative sensor technologies in cars to avoid car accidents. Annual road deaths have accounted for over 1.35 Mn people (age 5-29) worldwide, the World Health Organization (WHO) estimates. Increased consumer understanding of automotive safety and security is encouraging the introduction of ADAS into automotives by manufacturers. The sector is affected favorably by stricter government regulations on protection of cars such as compulsory implementation of protective devices, including parking sensors and automatic emergency breaking system (AEB).
Companies are manufacturing their cars with a wide range of features and technologies to satisfy buyers and boost sales. Technological developments in electronic components, such as wireless communication and cloud networks enabled sensors and smartphones give better knowledge on the atmosphere and improve the safety of customers. Dynamic advances in technology, such as the smart parking system, which allow cars park easily without a manual, night vision systems that are useful in places of little or no illumination, lane start system and danger braking have improved the revenues of the vehicle industry.
Asia-Pacific market among all regions is projected to be the fastest growing in the forecast timeframe. Rising urban development and the growing demand for APAC high-end cars are the main reasons for ADAS industry's high growth in the city. In the developed countries, too, passenger car sales are modest and the market for high-quality cars is on the rise. Such variables would increase ADAS production.
As a result of funding programs like EuroNCAP, Europe's ADAS industry will account for a significant volume share, encouraging the installation of ADAS. The compulsory implementation of multiple vehicle ADAS systems would enable the growth of the market over time. Therefore, government initiatives to raise awareness of ADAS would increase the size of the sector.
The market research study on “ADAS Market (ADAS Market By Solution: Park assistance, Adaptive Cruise Control, Tire Pressure Monitoring System, Adaptive Front Lights, Blind Spot Detection System, Lane Departure Warning System, Autonomous Emergency Braking, Others; ADAS Market By Sensor: Infrared, LiDAR, Image Sensor, Ultrasonic, RADAR; ADAS Market By End Use: Commercial Vehicles, Passenger Cars) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed insights on the global ADAS market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global ADAS market, its solution, sensor, end use, and major geographic regions. The report covers global ADAS market size, and segment markets by solution, sensor, end use, and geography along with the information on companies operating in the market. The ADAS market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
ADAS Market By Solution
ADAS Market By Sensor
ADAS Market By End Use
ADAS Market By Geography
Middle East & Africa
Key Players and Market Situation
Participants include major global players such as Continental AG, Autoliv, Magna International, Texas Instruments, and TRW Automotive, and Others.A variety of business events, such as product launches and alliances and agreements were involved in players on the global ADAS market. For eg, the electronic horizon launched by Continental in January 2015 was eHorizon. Product operation is based on the cloud sourcing concept, which establishes cars as moveable sensors and facilitates data transfers between the cloud and the vehicle. A cooperation agreement was signed with Safran in April 2015 for the development of autonomous vehicle driving assistance.
Advance driver assistance systems provide drivers with a smart, safe and comfortable driving experience.
Factors such as growing expectations for innovative sensor technologies in cars to avoid car accidents restrain the ADAS market growth.
According to Acumen Research and Consulting, the ADAS market value is anticipated to be worth around US$ 140 billion in 2026.
The advanced driver assistance systems (ADAS) market is anticipated to grow over 21% CAGR during the forecast period 2019 to 2026.
Asia-Pacific held maximum share in 2018 for ADAS market.
Continental AG, Autoliv, Magna International, Texas Instruments, and TRW Automotive are the top players operating in the ADAS market.
The global ADAS market is segmented into solution, sensor, end use, and major geographic regions.