(MENAFN- iCrowdNewsWire) The global Advanced Driver Assistance System (ADAS) market size is expected to reach USD 66.14 Billion at a steady CAGR of 11.8% in 2028, according to latest analysis by Emergen Research. Advanced driver assistance system market revenue growth is driven by rise in demand for safety features in vehicles, implementation of stringent safety regulations, and technological advancements in advanced driver assistance systems.
ADAS offers various benefits such as decrease in rate of accidents and reduced damage to property and injury or loss of life. These systems offer more effective safety features designed to improve passengers and pedestrian safety and minimizing accidents and impact severity. Advanced driver assistance systems offer safety features such as collision avoidance system, parking assistance, tire pressure monitoring, traction control, lane departure warnings, electronic stability control, and telematics.
The report provides detailed insights into Advanced Driver Assistance System (ADAS) market revenue trends, industry trends, consumer trends, market size, market share, market revenue growth drivers, and forecast, along with ranging impact of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in Advanced Driver Assistance System (ADAS) market size over the forecast period, 2020–2028. The report includes profiles of major Advanced Driver Assistance System (ADAS) players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. Also included are details regarding top Advanced Driver Assistance System (ADAS) market players, manufacturers, and vendors and the various strategies being deployed in the market and objectives for these strategies.
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Global Advanced Driver Assistance System (ADAS) market revenue growth is primarily driven by rising focus by major companies on product portfolio expansion, entry into new and untapped domestic and international markets, rising investments my top Advanced Driver Assistance System (ADAS) market players, manufacturers, and vendors in strategic agreements and contracts, and rapidly increasing competition in the Advanced Driver Assistance System (ADAS) market.
In addition, rapidly rising demand and deployment in respective sectors/industries in major and developing countries is supporting growth in terms of Advanced Driver Assistance System (ADAS) market share contribution of these countries. In addition, Advanced Driver Assistance System (ADAS) market share contribution is expected to continue to incline steadily over the forecast period due to favorable government policies, advancements in technology, and steady economic growth across various regions and countries.
Some Key Highlights From the Report
- In March 2021, CallPro ADAS solution announced the launch of ADAS IdentiScan. The solution offers detailed guidance and information to collision repair facilities so users can manage the repair and estimation process by recognising the required calibration and ADAS.
- Radar-based ADAS provides accurate and reliable details of a vehicle's surroundings and aid drivers in sensing potential on-road hazards during poor visibility or blocked vision. The system detects and calculates range, positioning, and velocity of approaching vehicles, and notifies the driver.
- NXP Semiconductor, in December 2020, announced launch of a suite of radar sensor solutions, which are designed to surround a vehicle with 360-degree protection and enables the classification and identification of imaging radar capabilities.
Top key vendors in Advanced Driver Assistance System (ADAS) Market include are:
- Key players in the market include Continental AG, Robert Bosch GmbH, Denso, Samsung Electronics, Intel, Hyundai Mobis, ZF Friedrichshafen AG, Magna International Inc., Renesas Electronics Corporation, and Infineon Technologies AG.
Emergen Research has segmented the global advanced driver assistance system market on the basis of offering, component, system, vehicle type, and region:
- Offering Outlook (Revenue, USD Billion; 2018–2028)
- Component Outlook (Revenue, USD Billion; 2018–2028)
- LiDAR
- Camera Unit
- Ultrasonic Sensor
- Radar Sensor
- Infrared Sensor
- System Outlook (Revenue, USD Billion; 2018–2028)
- Adaptive Front Light (AFL)
- Adaptive Cruise Control (ACC)
- Blind Spot Detection (BSD)
- Forward Collision Warning (FCW)
- Automatic Emergency Braking (AEB)
- Driver Monitoring System (DMS)
- Cross Traffic Alert (CTA)
- Lane Departure Warning (LDW)
- Pedestrian Detection System (PDS)
- Tire Pressure Monitoring System (TPMS)
- Road Sign Recognition (RSR)
- Intelligent Park Assist (IPA)
- Night Vision System (NVS)
- Traffic Jam Assist (TJA)
- Vehicle Type Outlook (Revenue, USD Billion; 2018–2028)
- Light Commercial Vehicle
- Passenger Car
- Bus
- Truck
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In terms of Advanced Driver Assistance System (ADAS) market share and revenue contribution to the global Advanced Driver Assistance System (ADAS) market, North America is expected to maintain its dominance over other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting rapid increase in Advanced Driver Assistance System (ADAS) market share.
The market intelligence report on the Advanced Driver Assistance System (ADAS) Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.
Region wise performance of the Advanced Driver Assistance System (ADAS) industry
North America Advanced Driver Assistance System (ADAS) market revenue growth was relatively higher than that of other regional markets in 2020. North America Advanced Driver Assistance System (ADAS) market revenue is expected to continue to remain dominant over the forecast period, supported by robust presence of top market players, manufacturers, and vendors, and favorable government policies and norms in countries in the region.
Asia Pacific Advanced Driver Assistance System (ADAS) market revenue registered fastest growth rate in 2020, and this trend is expected to continue over the forecast period. Asia Pacific Advanced Driver Assistance System (ADAS) market revenue growth is driven by significant market revenue contribution from China, India, and South Korea. China is a robust hub for top Advanced Driver Assistance System (ADAS) market players, manufacturers, and vendors, as well as easy access to raw materials and workforce at more economical costs that that of other regional markets.
Europe Advanced Driver Assistance System (ADAS) market revenue is expected to continue to remain steady over the forecast period, attributed to changing trends in various market and robust focus on research and development initiatives by top market players, manufacturers, and vendors to expand global footprint and drive revenues and profits.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Europe
- China
- Japan
- Southeast Asia
- India
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
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The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Advanced Driver Assistance System (ADAS) industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the Advanced Driver Assistance System (ADAS) market across different regions?
- Who are the major driving forces expected to decide the fate of the Advanced Driver Assistance System (ADAS) industry worldwide?
- Who are the prominent market players making a mark in the Advanced Driver Assistance System (ADAS) market with their winning strategies?
- Which Advanced Driver Assistance System (ADAS) industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the Advanced Driver Assistance System (ADAS) market?
Table of Content
Chapter 1. Methodology & Sources
1.1. Advanced Driver Assistance System (ADAS) Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Advanced Driver Assistance System (ADAS) Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Advanced Driver Assistance System (ADAS) Market Segmentation & Impact Analysis
4.1. Advanced Driver Assistance System (ADAS) Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Advanced Driver Assistance System (ADAS) Market indicators analysis
4.2.2. Advanced Driver Assistance System (ADAS) Market drivers analysis
4.2.2.1. Rapid urbanization and industrialization
4.2.2.2. Stringent government regulations regarding carbon emissions
4.2.2.3. Increasing prevalence of respiratory diseases
4.2.2.4. Rising need to enhance indoor air quality
4.2.3. Advanced Driver Assistance System (ADAS) Market restraints analysis
4.2.3.1. High cost associated with the maintenance of Advanced Driver Assistance System (ADAS) products
4.2.3.2. Availability of renewable sources of energy
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 10. Competitive Landscape
10.1. Advanced Driver Assistance System (ADAS) Market Revenue Share By Manufacturers
10.2. Mergers & Acquisitions
10.3. Competitor's Positioning
10.4. Strategy Benchmarking
10.5. Vendor Landscape
10.5.1. Raw Material Suppliers
10.5.1.1. North America
10.5.1.2. Europe
10.5.1.3. Asia Pacific
10.5.1.4. Middle East & Africa
10.5.1.5. Latin America
10.5.2. Distributors
10.5.2.1. North America
10.5.2.2. Europe
10.5.2.3. Asia Pacific
10.5.2.4. Middle East & Africa
10.5.2.5. Latin America
10.5.3. Others
Continued….
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