Industry Background:
Advanced driver assistance system (ADAS) is a system that helps drivers better controlling of their vehicles and avoids accidents. The system uses radars, sensors, and cameras in its design to assist drivers with real-time information about the vehicle’s vicinity. ACC maintains a set distance from the vehicle ahead by automatically adjusting the vehicle's speed. It can accelerate or decelerate to match the flow of traffic.
According to AMA Research, the market for Advanced Driver Assistance Systems is expected to register a CAGR of 22.6% during the forecast period to 2028. This growth is primarily driven by Growing Vehicle Automation and Advancement in Self Driving Car
.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Automobiles sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Continental Ag [Germany], Delphi Automotive PLC [United States], Robert Bosch Gmbh [Germany], Aisin Seiki Co. Ltd. [Japan], Autoliv Inc [Sweden], Denso Corporation [Japan], Valeo [France], Magna International [Canada], Trw Automotive Holdings Corp. [United States], Hella Kgaa Hueck & Co. [Germany], Ficosa International S.A. [Spain], Mobileye NV [Israel], Mando Corp. [South Korea], Texas Instruments Inc. [United States] and Tass International [Netherlands], etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
October 2018 - : DENSO intended to acquire EASE Simulation, Inc. “EASE excelled in its ability to access and extract enhanced level diagnostics data from vehicles, which is a critical component as we develop and provide more connected services to the aftermarket and OES industry,” said Richard Shiozaki, senior vice president of DENSO Products and Services Americas, Inc.
Delphi Technologies' acquisition with BorgWarner Inc. was officially announced as having been completed. BorgWarner and Delphi Technologies' merger is anticipated to strengthen BorgWarner's electronics and power electronics products, capabilities, and scale, creating a market leader in electrified propulsion systems that is, in BorgWarner's opinion, well-positioned to benefit from future propulsion migrationThe rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new mobility solutions, which is likely to encourage the growth of the global market throughout the forecast period
Regulatory Insights:
Recently in August 2018, European Union made it mandatory for automotive manufacturers to deploy ADAS such as lane departure warning systems (LDWS) and autonomous emergency braking systems (AEBs) in all heavy commercial vehicles weighing more than 7,000 kilograms. Also, to achieve NCAP’s (New Car Assessment Program) highest rating, a car is required to have active safety systems
Influencing Trend:
Demand for Greater Safety Standards From Customers Side and Growing Market for Electrical Vehicles
Market Growth Drivers:
Growing Vehicle Automation and Advancement in Self Driving Car and Stringent Regulatory Guidelines Regarding Safety of Drivers
Challenges:
There is a possibility of false alarms or erroneous warnings, especially if the system misinterprets objects or road conditions. These false alarms may lead to driver confusion or desensitization, potentially reducing the driver's trust in the system
Restraints:
Increase in Overall Cost of the Vehicle and Lack of Budget of Car Owners and Inability to Upgrade the System in Emerging Countries
Opportunities:
Rising Automobile Industry and Awareness About ADAS System in Emerging Countries and Rising Disposable Income and Awareness About ADAS system
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Advanced Driver Assistance Systems Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Advanced Driver Assistance Systems Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Advanced Driver Assistance Systems players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Advanced Driver Assistance Systems Study Sheds Light on
The Advanced Driver Assistance Systems Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Advanced Driver Assistance Systems industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Advanced Driver Assistance Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.