21-Jun-2021 | Facts and Factors
The latest findings perfectly encompass an analytical and comprehensive overview of the ADAS market titled “Global Advanced Driver Assistance Systems (ADAS) Market”. We at Facts & Factors estimate that the global Advanced Driver Assistance Systems (ADAS) Market will be projected at USD 34.5 Billion in the year 2020 and will grow at a CAGR rate of 8.9% to a final value of USD 67.54 Billion during the forecast period till 2026.
ADAS systems are a set of hardware and software-related services that provide drivers an enhanced sense of assistance that further help them in parking and driving processes. Features such as automated lighting, adaptive cruise control, obstacle avoidance driving systems, and lane departure assistance are some features that ADAS can achieve. The primary driving factors that are responsible for the growth of the ADAS market are the rising automotive sector and technological advances to name a few. Furthermore, factors such as rising urbanization, expanding industrialization, increased standard of living, and rising trend of autonomous vehicles will expand the growth of the ADAS market during the forecast.
Rising features such as autonomous emergency braking, lane warning departure systems, parking assist, adaptive cruise control systems, and autonomous lighting and windshield sensors to name a few will increase the footprint of the global ADAS market. A rise in per-capita income among consumers and an increasing prevalence of premium and luxurious features in their automobiles will further propel the growth of the global ADAS market.
Top Market Players
The key participants in the global ADAS market are Continental AG, Harman International, Robert Bosch GmbH, AVL GmbH, Gentex Corporation, Hyundai Mobis, NPX Semiconductor, Mobileye N.V., Autoliv, Inc., Panasonic Corporation, Magna International, Inc., Aisin Seiki Co. Ltd, Jayson Electronics, DENSO Corporation, Renesas Electronics Corporation, and Valeo SA, among others.
Here are some developments that are expected to change the dynamics of the global ADAS market:
- Xilinx recently announced a collaboration with ZF Friedrichshafen AG in order to provide AI-based automotive controls for a combined consumer base with the latter technology of power-driven ZF ProAI (A patented technology from the ZF Friedrichshafen AG firm).
- Bosch recently announced three systems for rider assistance system that provides additional features such as adaptive cruise control, forward collision detection, and blind-spot detection for motorcycles.
The global ADAS market can be divided into adaptive cruise control, blind-spot detection, park assist, lane departure warning system, autonomous emergency braking, tire pressure monitoring, heads-up display, intelligent headlights, forward collision warning e-call system, night vision system, and pedestrian detection system on the basis of type. The park assist system is expected to occupy the largest market share during the advent of the forecast owing to low cost, easy installation solution, and wider application base compared to its counterparts.
The global ADAS market can be broken down into passenger cars, light commercial vehicles (LCV), heavy commercial vehicles (HCV) on the basis of vehicle type. The passenger car segment is expected to witness the largest market share during the forecast owing to increased urbanization, rising demographic growth, and a rise in disposable income during the forecast. The rising trend of adoption of autonomous vehicles will drive the sale of the ADAS market.
Asia-Pacific Is Expected To Witness The Largest Market Share During The Forecast Period
Asia-Pacific is expected to witness the largest market share during the advent of the forecast owing to a surge of the automobile sector in the region. Additional factors credited with the dominant rise of the ADAS market during the forecast are the presence of key players and increased adoption of electric vehicles among emerging economies in countries such as China and Japan. Europe will occupy the second largest market share during the forecast in terms of global revenue contribution.
Browse in the full report “Advanced Driver Assistance Systems (ADAS) Market By Type (Adaptive Cruise Control, Blind Spot Detection, Park Assist, Lane Departure Warning System, Autonomous Emergency Braking, Tire Pressure Monitoring, Heads-up Display, Intelligent Headlights, Forward Collision Warning E-Call System, Night Vision System, & Pedestrian Detection System), By Component (LiDAR, Radar, Camera, Laser, & Sensor), By Vehicle Type (Passenger Cars, Light Commercial Vehicles (LCV), & Heavy Commercial Vehicle (HCV)), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021-2026” at https://www.fnfresearch.com/advanced-driver-assistance-systems-market
The global ADAS market can be segmented into:
Global ADAS Market: By Type Segment Analysis
- Adaptive Cruise Control
- Blind Spot Detection
- Park Assist
- Lane Departure Warning System
- Autonomous Emergency Braking
- Tire Pressure Monitoring
- Heads-up Display
- Intelligent Headlights
- Forward Collision Warning E-Call System
- Night Vision System
- Pedestrian Detection System
Global ADAS Market: By Component Segment Analysis
Global ADAS Market: By Vehicle Type Segment Analysis
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicle (HCV)
Global ADAS Market: By Regional Segment Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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