Advanced Driver Assistance Systems Market to hit $ 21,921 Million by 2023 at compound annual growth rate of 12.24%, according to the latest report published by Market Research Future. Global Advanced Driver Assistance Systems market has very broad market in coming recent years. Global Advanced Driver Assistance Systems Market is driven by factors such as growing demand for new and improved technologies for providing safety features in automobile, increasing purchasing power of buyers, and government initiatives of mandating regulations over usage of driver assistance system into automobiles among others. The Advanced Driver Assistance Systems market is completely dependent on the automotive industry.
Advanced Driver Assistance Systems Market Highlights:
The recent shift in the preference from mileage to vehicle looks and features is also expected to result in the high demand for advanced driver assistance systems. The global advanced driver assistance systems market is also expected to grow during the forecast period owing to increasing population, rapid industrialization and aggressive expansion of manufacturing sector.
Advanced Driver Assistance Systems Key Companies Analyzed Are:
Robert Bosch Automotive Steering GmbH, Delphi Automotive LLP, DENSO CORPORATION, Panasonic Corporation, Valeo, Continental AG, Magna International Inc, HELLA KGaA Hueck & Co., Hitachi Ltd,. ZF Friedrichshafen AG. In 2016, these companies accounted for a share of XX% of the global market.
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The market for advanced driver assistance systems is expected to grow in the North American region with an increase in demand for automobiles, majorly in the United States. Existence of major manufacturers in this region combined with availability of sophisticated technologies enables the advanced driver assistance systems market to flourish. In the European region, the commercial vehicles are expected to grow with a CAGR of 10.58%, owing to the growth in the home delivery sector. For the safe distribution of goods and efficient city transportation, original equipment manufacturers in the European region are focusing on the advanced safety features for these vehicles, which will be a major driver for market growth in the region. The U.K, Germany, and France account for a majority of the market share of advanced driver assistance systems in this region. The growth of the Asia-Pacific region can be attributed to the increase in adoption of passenger cars and therefore, the increase in adoption of ADAS in the passenger cars.
Advanced driver assistance systems are systems that are developed to increase vehicle safety and enhance the driving experience. Advanced driver assistance are a combination of certain systems that alert the driver to potential problems. Adaptive features include automated lighting, adaptive cruise control, automate braking, incorporate traffic warnings, connect to smartphones, alert driver to other cars or dangers, keep the driver in the correct lane, or show what is in blind spots. Recent stats show that despite 60% less traffic on the roads, more than 40% of all fatal accidents occur during the nights. In the recent times, decreased visibility due to darkness have resulted in alarmingly higher number of accidents. This is where the advanced driver assistance systems (ADAS) come into the picture. The ADAS technology not only focuses on improving the safety of the passengers, but also enable the safety of the pedestrians as well, by distinguishing obstacles using infrared (IR) or ultraviolet (UV) sensors.
Regional Analysis:
The market for advanced driver assistance systems is expected to grow in the North American region with an increase in demand for automobiles, majorly in the United States. Existence of major manufacturers in this region combined with availability of sophisticated technologies enables the advanced driver assistance systems market to flourish. In the European region, the commercial vehicles are expected to grow with a CAGR of 10.58%, owing to the growth in the home delivery sector. For the safe distribution of goods and efficient city transportation, original equipment manufacturers in the European region are focusing on the advanced safety features for these vehicles, which will be a major driver for market growth in the region. The U.K, Germany, and France account for a majority of the market share of advanced driver assistance systems in this region. The growth of the Asia-Pacific region can be attributed to the increase in adoption of passenger cars and therefore, the increase in adoption of ADAS in the passenger cars. The recent shift in the preference from mileage to vehicle looks and features is also expected to result in the high demand for advanced driver assistance systems. The global advanced driver assistance systems market is also expected to grow during the forecast period owing to increasing population, rapid industrialization and aggressive expansion of manufacturing sector.
Intended Audience:
Distributer & Supplier companies
End Users
Consultants and Investment bankers
Government as well as Independent Regulatory Authorities
Product Analysis:
Product matrix which gives a detailed comparison of the market for different recycled product types
Additional Information:
Regulatory Landscape
Pricing Analysis
Macroeconomic Indicators
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