The global advanced driver assistance system (ADAS) market is expected to reach USD 67.43 billion by 2025,
growing at a CAGR 19.0%, according to a new report by Grand View Research, Inc.
Increasing government initiatives for mandating driver assistance system in
order to lower road accidents is expected to proliferate market growth.
Moreover, increasing adoption of these systems in small cars is anticipated to
further boost the market demand.
Rising level of technological innovation as
well as growing initiatives towards vehicle automation and self-driving cars
has raised the demand for driver safety and assistance systems over the past
decade. For instance, European Union has mandated the automotive manufacturers
to fit ADAS systems such as lane departure warning systems (LDWS) and
autonomous emergency braking systems (AEBS) in all heavy commercial vehicles
weighing over 7,000 Kilograms.
ADAS technologies such as night vision,
drowsiness monitoring system and road sign recognition systems among others are
anticipated to grow considerably over the forecast period. Tire pressure
monitoring system also expected to have significant penetration in the overall
market owing to their low prices and easy aftermarket availability. Moreover,
Adaptive cruise control provides much better driver safety and helps to avoid
fatal road accidents, thus the demand for these systems is expected to witness high
growth by 2025.
The sensor components accounted for largest
market share in 2016. The automotive industry is in process of deploying
self-driving vehicles on road, such types of autonomous vehicles require
combination of large number of sensors such as cameras, Radar, LiDAR,
ultrasonic sensors for performing different operations accurately. Thus, the
demand for sensors is anticipated to increase significantly over the forecast
period. Among different sensor types Lidar sensors are anticipated to gain high
traction by 2025, owing to their crucial function in self-driving cars.
In 2016, passenger cars accounted for over
72% share in global ADAS market, however commercial vehicle segment is expected
to witness fastest growth over the forecast period owing to aforementioned
government regulations for improving safety of heavy commercial vehicles.
Full research report on advanced driver assistance
system (ADAS) market analysis:
https://www.grandviewresearch.com/industry-analysis/advanced-driver-assistance-systems-adas-market
Further key findings from the report suggest:
·
Global Advanced Driver Assistance System
(ADAS) demand was USD 14.15 billion in 2016 and is anticipated to witness
staggered growth over the next eight years.
·
The autonomous emergency breaking system
segment is anticipated to grow at CAGR of 22.0% over the forecast period.
·
The demand for ADAS processors is
anticipated to grow at moderate rate over the forecast period.
·
The Asia Pacific market is projected to
witness substantial growth over the next decade owing to various developments
across major economies, especially in the Chinese market. The regional market
is expected to grow at a CAGR of 8.5% from 2017 to 2025
·
Key players including Continental AG,
Mobileye, Autoliv Inc., Magna international, and Hyundai Mobis dominated the
global ADAS market while accounting for over 43% of the total volume in 2016.
Advanced driver assistance system is leading the way to autonomous vehicles.
Technological innovation and disruptive pricing are key criteria to strive the
fierce competition in the market. Thus, various players are introducing highly
innovative products primarily focused on increasing the overall user safety and
enhancing the driver’s experience.
View more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the
global advanced driver assistance system market report on the basis of solution
type, component type, vehicle type and region:
Advanced Driver Assistance System Solution Type Outlook
(Revenue & Volume, 2014 - 2025)
·
Adaptive Cruise Control
·
Blind Spot Detection System
·
Park assistance
·
Lane Departure Warning System
·
Tire Pressure Monitoring System
·
Autonomous Emergency Braking
·
Adaptive Front Lights
·
Others
Advanced Driver Assistance System Component Type Outlook
(Revenue & Volume, 2014 - 2025)
·
Processor
·
Sensors
o Radar
o Ultrasonic
o LiDAR
o Others
·
Software
·
Others
Advanced Driver Assistance System Interior Design Outlook
(Revenue & Volume, 2014 - 2025)
·
Passenger car
·
Commercial vehicle
o Light commercial vehicle
o Heavy commercial vehicle
Advanced Driver Assistance System Regional Outlook
(Revenue & Volume, 2014 - 2025)
·
North America
o U.S.
o Canada
·
Europe
o United Kingdom
o Germany
·
Asia Pacific
o China
o India
o Japan
·
Latin America
o Brazil
o Mexico
·
Middle East & Africa
Access
press release by Grand View Research: https://www.grandviewresearch.com/press-release/global-advanced-driver-assistance-systems-adas-market
About
Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
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