Advanced Driver Assistance Systems Industry Information by lease Type (Open Ended and Close Ended), by vehicle type (Passenger Cars, LCV and HCV) And Region – Forecast To 2025
Advanced driver assistance systems (ADAS) are the systems developed to enhance the driving experience and increase vehicle safety. Market Research Future (MRFR) has published a research report about the global Advanced Driver Assistance Systems Industry that forecasts advancement for this market at 12.24% CAGR during the forecast period between 2016 and 2023. By value, the market has been figured to be worth the USD 21.921 MN by the end of the forecast period.
The critical market driving factor for the global Advanced Driver Assistance Systems Industry is a range of features to ensure safe driving. Such features include adaptive cruise control, automated braking, automated lighting, ability to connect to smartphones, incorporated traffic warnings, alerts regarding other vehicles, and directions for drivers to stay in the correct lane. Other important market drivers include the ability of ADAS to distinguish obstacles using infrared (IR) sensors or ultraviolet (UV) sensors.
The global Advanced Driver Assistance Systems Industry segmentation covers sensor type, vehicle type, and technology. MRFR is exploring features of these segments.
Based on sensor type, this market has been segmented into the camera sensor, Light Detection and Ranging (LiDAR) sensor, radar sensor, and ultrasonic sensor.
As per vehicle type, the market has been segmented into passenger vehicle and commercial vehicle. A driver uses the passenger vehicle for personal use. The commercial vehicle is used for transferring various items from one place to another for business purposes.
Regarding technology, the market has been segmented into adaptive cruise control, adaptive front-lighting system, blind spot detection, drowsiness monitor, head up display, intelligent park assistant, and pedestrian protection.
The regional segmentation of the global Advanced Driver Assistance Systems Industry covers North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa (MEA).
North America is an eminent regional market due to heavy demand for automobiles, especially in the USA. Major factors ensuring market growth in this region include the availability of sophisticated technologies and the presence of top-level manufacturers in this region. Canada is the second largest country-specific market in this region.
In Europe, the market is expected to grow at 10.58% CAGR during the forecast period. The most important factors for the market growth include growth in the home delivery sector and focus by manufacturers on advanced safety features to ensure safe delivery. The esteemed country-specific markets in Europe are Germany, France, and the UK. Other countries in Europe also form a significant market.
In the Asia Pacific region, the market is growing due to the increase in adoption of passenger cars and subsequent adoption of advanced driver assistance systems in passenger cars. The second factor for market growth is the shift in preference among customers from mileage to vehicle looks and features. Other market driving features include aggressive expansion of the manufacturing sector, increasing population in countries like China and India, and rapid industrialization. Japan is another important country-specific market due to technological advancement. Other countries of the Asia Pacific region contribute sizable to the market.
In Latin America, the market is small due to its strongest economies like Brazil are not as advanced as North American economies. In the MEA region, the market growth is slow due to limited availability of technology. The most important country-specific markets in this region are Saudi Arabia and the UAE. Other countries in this region slightly contribute to Market.
Major players in the global Advanced Driver Assistance Systems Industry include Continental AG (Germany), Delphi Automotive LLP (UK), Denso Corporation (Japan), Hella KGaA Hueck & Co. (Germany), Hitachi Ltd. (Japan), Magna International Inc. (Canada), Panasonic Corporation (Japan), Robert Bosch Automotive Steering GmbH (Germany), Valeo (France), and ZF Friedrichshafen AG (Germany).
Latest Industry News
- Veoneer, one of the leading developers of ADAS and automated driving (AD) system, has signed an agreement with Nissin Kogyo, its joint venture partner in Veoneer Nissin Brake Systems (VNBS). This agreement is regarding certain structural changes to the joint venture and agreeing on the funding of VNBS. 18 JUNE 2019
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