Advanced Driver Assistance Systems Market Poised to Grow by 2026: Key Vendors, Industry Demand, Drivers and Outlook
According to a recent report published by KD
Market Insights, titled, "Advanced
Driver Assistance Systems Market by
System Type, Sensor Type, and Vehicle Type: Global Opportunity Analysis and
Industry Forecast, 2019-2026," the global ADAS market was valued at $39,638.4
million in 2018, and is projected to reach $189,142.9 million by 2026,
registering a CAGR of 21.4% from 2019 to 2026.
Europe dominates the ADAS industry, followed by North America, Asia-Pacific, and LAMEA. U.S. dominated the North America Advanced driver assistance systems (ADAS) market share in 2018, whereas Mexico is expected to grow at a significant rate in the North America during the forecast period.
Advanced driver assistance systems are
designed and used to automate and enhance vehicle system for better driving.
The safety features in Advanced driver assistance systems are designed to avoid
accidents and collision by providing technologies that alert the driver of
potential dangers or avoid accidents and collision activating safeguards or
taking control of the vehicle. The adaptive services may include and provide
adaptive cruise control, control automated dimming of lights, automated
braking, incorporate traffic warnings, alert drivers of other cars &
traffics, and others. Many forms of these systems are available in the advanced
driver assistance systems market out of which some are built in or are
available as an add-on package for the late model cars.
Advanced driver assistance systems help the
driver and provide them a safe and relaxed drive, which in turn is boosting the
growth of ADAS market. The electronic components in the ADAS acts as the
copilots, providing a safe, comfortable, and stress-free drive. Majority of the
ADAS features are dependent on the wide screen cameras, which are mounted in
the vehicle and act as the eye for the driver. Accurate and effective
calibration of camera system is essential to ensure the working of safety
features as intended. Whenever the camera system is replaced or subjected to
anything that might change the camera alignment, it is important to recalibrate
the system in accordance with the guidelines of the manufacturer.
The Advanced driver assistance systems consist
of various systems such as automatic emergency braking (AEB), adaptive cruise
control, parking assist, and others. Automatic emergency braking use camera and
sensors at the front of the vehicle in bumper, windshield, and others to look
for other vehicle, animals, or pedestrians. If vehicle detects that it is about
to hit something at lower speed, the automatic emergency braking stops the
vehicle to avoid collision. Another commonly used system in ADAS is adaptive
cruise control system, which uses the same cameras and sensors in the front to
keep the vehicle on track on highway and maintain safe distance from the
vehicle in front. The Insurance Institute for Highway Safety (IIHS), National
Highway Traffic Safety Administration (NHTSA), and 20 other automakers
announced that Automatic Emergency Braking (AEB) will be included in all the
new passenger vehicles by 2022.
Browse Full Report & TOC: https://www.kdmarketinsights.com/product/advanced-driver-assistance-systems-market-amr
Various communication network systems such as
vehicle-to-infrastructure (V2I), vehicle-to-vehicle (V2V), and others, which
are jointly known as V2X systems. These V2X systems use dedicated short-range
communication systems to send safety related messages about the brake status,
vehicle speed, vehicle size, and others to another vehicle and vice versa. Such
long-distance communication devices and ability of the vehicle to see around
the corners perceive some dangers sooner than sensors, and cameras and warn the
drivers accordingly.
Factors such as high demand for safety
features and increased requirement of comfort while driving drive the ADAS
market growth. In addition, stringent safety rules and regulations is
anticipated to propel the advanced driver assistance systems market growth.
However, high initial cost and complex structure and lower efficiency in bad
weather conditions hinder the growth of ADAS market. Furthermore, technological
Advancements and production of multifunctional system is anticipated to provide
a remarkable growth opportunity for the players operating in the advanced
driver assistance systems market. All the factors mentioned above have
significant impact on the ADAS market size during the forecast period.
Key Findings of the Advanced Driver
Assistance Systems Market :
- Based on system type, the Tire pressure
monitoring system (TPMS) segment is expected to grow at a lucrative growth
rate.
- Based on sensor type, the Infrared (IR) sensor segment is anticipated to exhibit lucrative growth rate.
- Based on region, Europe is the highest contributor in terms of revenue in year 2018.
- Based on region, LAMES is anticipated to grow at a remarkable growth during the forecast period.
- Based on sensor type, the Infrared (IR) sensor segment is anticipated to exhibit lucrative growth rate.
- Based on region, Europe is the highest contributor in terms of revenue in year 2018.
- Based on region, LAMES is anticipated to grow at a remarkable growth during the forecast period.
Key players including
Autoliv Inc., Continental AG, DENSO Corporation, Magna International Inc.,
ROBERT BOSCH STIFTUNG GMBH (ROBERT BOSCH GMBH), Valeo, NXP Semiconductors,
Panasonic Corporation, Renesas Electronics Corporation, Texas Instruments,
Delphi Automotive Company, Hyundai Mobis, Takata Corporation, ZF
Friedrichshafen, Aisin Seiki Co., Ltd., Mobileye N.V, Harman International
Industries, NVIDIA Corporation, Hitachi Ltd., Stonkam Co., Ltd., and others
hold major ADAS market share.
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