According to BlueWeave Consulting, the Global Advanced Driver Assistance
Systems (ADAS) market is anticipated to worth USD 29.87
billion by 2019, with a CAGR of 20.56% during 2019-2025. The Advanced Driver
Assistance Systems (ADAS) Market presents promising growth prospects and
expected to have an upward trend over the forecast period 2019-2025.
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The increasing demand for a safe,
efficient, and convenient driving experience and rising demand for luxury
vehicles across the globe are the key factors driving the growth of the ADAS
market. The OEMs and government regulatory authorities are taking necessary
steps to improve transportation by addressing major challenges like road
accidents, traffic congestion, and the cost of transportation. The high scale
of growth of the automotive industry is consequently persuading the use of
several sensors technologies to make driving comfortable, luxurious, and safe.
The governments of various countries
have also made mandates for features like Lane Departure Warning (LDW) and
Automatic Emergency Braking (AEB). Numerous safety features have been developed
to assist the driver and lower the number of accidents. Most of the electric
vehicle makers are integrating ADAS systems in their electric cars to make it
safe. For instance, the European Union (EU) has mandated the automotive makers
to apt ADAS systems such as LDWS and AEBS in all heavy commercial vehicles
deliberating over 7,000 Kilograms.
Adaptive Cruise Control
(ACC) is the leading segment of the entire ADAS market during the forecast
period, as it provides much better driver safety and aids in avoiding fatal
road accidents. ACC is a critical part of self-driving cars in the forthcoming
years. Tire pressure monitoring system is anticipated to have significant
penetration in the overall market owing to their low prices and easy
aftermarket availability. Forward collision warning is expected to grow
with a significant growth rate due to its requirement to assist the driver in
mitigating the collisions. Its application with AEB units boosts the
probability of avoiding vehicle collisions. Moreover, a significant drop in the
electronic component prices has encouraged ADAS technology adoption.
Geographically, North America
dominates the overall Advanced Driver Assistance Systems (ADAS) market and
projected to lead the market over the forecast period 2019-2025, followed by
Europe. The U.S is the leading country in the North America region owing to
extensive research and development facilities that have made significant
investments in smart automotive production methods and process automation. The
Asia Pacific is projected to exhibit the fastest growth owing to rising
disposable income levels, increased vehicle production in developing countries
like India and China, an increase in the number of luxury vehicles in countries
drive the growth of the ADAS market.
Companies such as Robert
Bosch, ZF Friedrichshafen, Denso, Aptiv, Intel, NVIDIA, Continental, Valeo,
Hella, Magna, Samsung, Aisin Seiki Co. Ltd., Delphi Technologies, Harman
International, NXP Semiconductor, Panasonic Corporation, and Hyundai Mobis are
the leading players of Advanced Driver Assistance Systems (ADAS) market across
the globe.
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