Published on : Dec 29, 2017
Albany, New York, December 29, 2017: Technological developments now progressed a long way in the automotive sector. Creating road awareness and safety of is an important aspect of automotive companies. Therefore, there are several advancements in safety features have been designed and created by automotive industry players, one of them is Advanced Driver Assistance Systems (ADAS). According to a recent analysis, increasing spending on research and development for this product is expected to drive the market in the coming years. Market Research Hub (MRH) has freshly broadcasted this new study to its wide repository, which is titled as “Advanced Driver Assistance System Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2017-2025”. The research study accurately predicts the future of the market and also gives an overview of the present market situation. It is a result of vigorous research done by a team of expert analysts who have done the needful data crunching and study of market drivers and restraints for every sector of the global market for advanced driver assistance systems.
According to this latest study, the global advanced driver assistance system (ADAS) was valued at US$11.83 bn in 2016 and by the end of 2025, the global market is expected to be worth US$43.27 bn. At this pace, the market will grow steadily at a notable CAGR of 15.9% during forecast 2017 to 2025.
Growing Concerns about Automotive Safety Drives Growth
ADAS is the set of systems comprises electronic devices, equipment, radar camera and sensors. Automobile manufacturers throughout the world are currently developing the next generation of advanced driver assistance systems, self-driving cars that can steer, accelerate and brake fully autonomously. Autonomous vehicles that are poised to transform the way of business model has increased the interest in ADAS solutions across the globe. The growing focus on safety with an added need to make the vehicles affordable will one of the key strategies of the companies operating in the global ADAS market. Some ADAS application are still in the process or not yet launched in the market while application which is available in the market are very expensive.
The study provides an entire perspective on the market’s growth in terms of revenue in US$ Bn, across different geographical regions such as Asia Pacific, North America, Middle East & Africa, Europe, and Latin America. Of these, it has been analyzed that the Asia Pacific has been leading market as automation production and sales continue to be soar. Stringent safety government regulations, the demand for comfort driving and focus on safety systems have impacted the automobile industry in Asia Pacific to a great extent.
Moreover, the market has been analyzed on the basis of technology and its type. By type, advanced driver assistance system is categorized by adaptive head lamp, emergency braking, blind spot detection system, cross traffic alert, drowsiness monitor system, lane departure warning system, adaptive cruise control, night vision, park assist, surround view camera system, time pressure monitoring system and others.
On the other hand, advanced driver assistance system (ADAS) is divided into ultrasonic sensors, image sensors, radar sensors, laser sensors and infrared sensors. Presently, there is a high demand for radar sensors in the automotive industry.
General Motors Company, AISIN SEIKI Co.,Ltd, Autoliv Inc, Audi AG, Hyundai Motor Company, BMW AG, Continental AG, Delphi Automotive PLC, Denso Corporation, Ford Motor Company, Honda Motor Company, Mahindra and Mahindra Ltd, Maruti Suzuki India Limited, MOBILEYE, Panasonic Corporation, Robert Bosch GmbH, TATA ELXSI are some of the major players operating within the advanced driver assistance market.
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