- 17 October 2019 23:46
Automotive ADAS Market Growing Rapidly
Autonomous vehicle technology is proactively designed to offer advantages like safety, ultimately enhancing the driving experience and traffic control. Numerous advancements in safety features have been planned and developed by automotive manufacturers. Advance driver assistance system (ADAS) is one such technology that helps in obstacle detection and avoiding collision. ADAS is the customary of systems comprising electronic devices, radar camera, equipment, and sensors. One of the most popular feature of ADAS is cruise governing.
The global ADAS market is growing rapidly due to various factors such as strict government norms associated with safety and consumer likings shifting to new technology, and advancement and active safety structures among others. By geography, the global advanced driver assistance systems market is segmented into five key regions which include North America, Latin America, Europe, Asia-Pacific, Middle East, & Africa. As of 2014, North America recorded the largest share in global advanced driver assistance systems market which is followed by Europe and Asia-Pacific. In terms of growth, Asia-Pacific is expected to record highest growth in global advanced driver assistance systems market with dual digit CAGR, with the significant contribution from countries like Japan and South Korea. The growth of global ADAS market in Asia-Pacific is fueled by growing penetration of active safety schemes, especially in countries like China and India due to supportive macroeconomic factors such as changing lifestyle, growing urbanization, rising income and purchasing power and rising awareness towards active safety systems. Furthermore, countries like Japan and South Korea are estimated to register important growth in demand for ADAS and are projected to account for dual digit growth in terms of revenue.
Get Free Sample Copy of Report@ https://www.acumenresearchandconsulting.com/request-sample/237
The global ADAS market is segmented based on distribution channel which include OEMs and aftermarket. OEMs commands majority of share in terms of revenue in the global ADAS market, and is estimated to maintain its dominance over the forecast period in global ADAS market. On the basis of vehicle type, the global advanced driver assistance systems market is segmented into passenger vehicles and commercial vehicles. The passenger vehicle segment rules the overall global advanced driver assistance system market and is likely to maintain its dominance in global ADAS market throughout the estimate period. At present, advance driver assistance systems are mainly available as factory installed parts in luxury and premium cars but in coming days, these systems are anticipated to witness enlarged penetration in low segments cars too, thus resulting in demand for advance driver assistance systems, globally. The technology segment of global advanced driver assistance system includes infrared sensors, image sensors, laser sensors, ultrasonic sensors and radar sensors. By type, the global ADAS market includes adaptive cruise control, park assist, blind spot detection, tire pressure monitoring system, lane departure warning system and others (forward collision warning, night vision, driver monitoring system and heads up display). The adaptive cruise control segment accounted for the largest share in the global advanced driver assistance systems market, in terms of revenue, and it is projected to maintain its dominance throughout the forecast period. The adoption of adaptive cruise control is more, whereas that of other ADAS such as TPMS, night vision LDWS and forward collision warning is less, especially in premium and low-range cars. There are a lot of global and local players operating in advanced driver assistance systems market. Some of the leading players in the market include Continental AG, Robert Bosch GmbH, Magna International, Delphi Automotive Plc, and Denso Corporation.