Advanced Driver Assistance Systems: Technologies and Global Markets
NEW YORK, July 20, 2017 /PRNewswire/ --
• The global advanced driver assistance system (ADAS) market should reach $59.1 billion by 2021 from $23.8 billion in 2016 at a compound annual growth rate (CAGR) of 19.9%, from 2016 to 2021.
• Parking assist system is the largest segment of the ADAS market. The market is expected to grow from $5.5 billion in 2016 to $10.1 billion in 2021 at a CAGR of 12.8% for the period 2016-2021.
Read the full report: http://www.reportlinker.com/p05002448/Advanced-Driver-Assistance-Systems-Technologies-and-Global-Markets.html
• The others segment of the ADAS market is expected to grow from $4.2 billion in 2016 to $13.3 billion in 2021 at a CAGR of 26.2% for the period 2016-2021.
Introduction
Advanced driver assistance systems (ADAS) are electronic components installed in vehicles that present an intelligent driving experience to the driver. The safety features are designed to avoid collisions and accidents by offering various technologies that alert the driver to avoid collisions by implementing safeguards and taking over control of the vehicle.
It also helps drivers in pointing out problems that are about to occur. Adaptive features may automate braking, lighting and connecting to smartphones, provide adaptive cruise control, incorporate GPS/traffic warnings, keep the driver in the correct lane, alert the driver to other cars or dangers, or show what is in blind spots. There are many forms of ADAS available. Some features are built into cars or are also available as an add-on package. The ADAS solutions are also available in the aftermarket. These systems include unique sensors such as ultrasonic, image, radar, Lidar, infrared and laser.
Deploying ADAS to enhance comfort levels and ensure safety and security on road is a growing trend in the automobile sector. The implementation of ADAS has been considered revolutionary as it provides dynamic features such as parking assistance, adaptive cruise control, lane departure warning, blind spot detection, drowsiness monitoring, tire pressure monitoring and night vision.
The developments within the automotive industry aren't limited just to enhancements in the design or engines, but developments have also occurred in the area of safety — safety of the vehicles, passengers and also pedestrians. The overall growth of the market is primarily driven due to the growing focus on customer safety, and the impending demand for comfort in driving along with the need to adhere to the government regulations to ensure safety.
However, factors such as pricing pressures, inflation, and the complexity of and difficulty in testing systems are a few of the biggest challenges to this industry. The global ADAS market is calculated based on the sales of products such as processors (e.g., electronic control units and microcontroller units), sensors, semiconductors, software and its algorithms, mapping systems and electrical systems. The major trends that would have notable growth are increased electronic content and electronic integration, deployment of ADAS in low-cost cars and a rise in the number of driverless cars.
Study Goals and Objectives
• Global, regional and country-level along with forecasts of the study market.
• Study of the effect of exogenous and endogenous factors, namely, demographic, economic and political factors, among others, which affect the global market.
• Segment and subsegment level of the market over the review and forecast period.
• Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining competitive edge.
Scope of the Report
• The base currency considered was the U.S. Dollar (USD). The conversion of other currencies to USD was considered based on the average exchange rate for the respective review period years.
The exchange rate conversion for forecast period was determined according to the base year's conversion rates.
• The base year was identified based on the availability of annual reports and secondary information. The base year considered for this study is 2015.
• The review period considered for this study is 2011 to 2015. The forecast period is from 2016 to 2021.
• Market size estimates for the forecast years were in real terms. Inflation is not part of the pricing and the Average Selling Price (ASP) was kept constant through the forecast period for each country.
• Distribution of primary interviews conducted was based on the regional share of the market and the presence of key players in each region.
• Because of data triangulation through multiple methodologies and approaches, the weighted averages of resulting estimates were considered to be the final values.
Research Methodology
The research process adopted for this entire study is a highly structured two stage process: size estimation of the review period, and the market engineering for the forecast period of the global, country- and segment-level data that lead to the Data Generation Process (DGP) for the studied variables. The size estimations were carried out through multiple bottom-up and top-down approaches.
Top-down Approach
The top-down approach is a research process in which the global market sizing is carried out through the secondary research, validated by primary industry experts. In this report, for analyzing the future trends for the studied market during the forecast period, we have incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by our in-house experts supported through our extensive data intelligence repository. The market is studied holistically from both demand- and supply-side perspectives.
This is carried out to analyze the end-user and producer behavior patterns in the review period that affect the price, demand and consumption trends. As the study demands analyzing the long-run nature of the market, the identification of factors influencing the market is based on the fundamentality of the market that is studied. Through secondary and primary research, the factors that are endogenous and exogenous in nature are identified, and they are transformed to quantitative data through data extraction and further applied for inferential purpose.
Data Triangulation
The final phase before the report writing is the expert validation, in which the estimated and projected values through data triangulation are cross-validated through market experts or key people in the industry. They can be senior researchers, directors, CFOsor CEOs. The cross-validated estimates are finally approved by the in-house experts.
Geographic Breakdown
In this report, the geographic regions considered for market analysis include, and only include:
North America
• United States.
• Mexico.
• Canada.
Europe
• France.
• Germany.
• Italy.
• United Kingdom.
• Spain.
• Russia.
• Others.
Asia-Pacific
• China.
• India.
• Japan.
• Australia.
• South Korea.
• Others.
Summary and Highlights
The Global Advanced Driver Assistance System (ADAS) market was valued at $23.8 billion in 2016 and is expected to reach a value of nearly $59.1 billion by 2021, growing at a CAGR of 19.9% during the forecast period of 2016 to 2021. The accelerating need for road safety systems along with demand for fuel-efficient vehicles will help to boost the global demand for ADAS significantly. The global ADAS market is calculated based on the sales of various products such as processors (e.g., electronic control units and microcontroller units), sensors, semiconductors, software and its algorithms, mapping systems and electrical systems.
Over the past few years, buyers' growing concern about automotive safety has resulted in increased demand for advanced safety features, particularly for mid-priced vehicles. The overall dynamics of the global automotive industry is changing at a rapid pace. Automobile manufacturers believe that the overall demand for mid-priced vehicles is expected to increase by 18% to 20% by 2021.
These vehicles have been designed and manufactured following buyers' preferences, in addition to being equipped with basic components. Companies such as Continental AG and Autoliv are entering into partnerships with OEMs to develop and manufacture low-cost assistance systems. This in turn helps manufacturers reduce the price of ADAS and attain economies of scale. As this takes place, implementation of ADAS in low-cost cars will increase in the coming years. A consistent increase in demand for compact and mid- size automobiles equipped with advanced safety features is also expected to propel the growth of this market.
Initiatives have been undertaken by various associations, such as the National Highway Traffic Safety Administration (NHTSA) Safecar Project, which has helped significantly drive the adoption of ADAS in domestic vehicles in North America, thereby driving the overall market growth in this region.
The European Automotive Industry, on the other hand, is one of the major and most innovative automotive markets in the world. There has been a massive transformation in the industry in the post- recession of 2010 period as there has been rapid market penetration and mass adoption of ADAS among the customers. Also, there are regular upgrades in the ADAS technology that facilitates competitiveness in the global ADAS market.
Growth of the ADAS market is currently hindered by the growing number of incidences of software failures in sensors. The price of ADAS systems is also a major hurdle for their wide acceptability.
However, the rapidly expanding hybrid and electric vehicle market, coupled with the growth of the market for autonomous vehicles, are expected to drive the growth of the automotive ADAS market significantly during the forecast period.
International safety standards such as IEC 61508 and ISO 26262 govern and regulate the overall development of the ADAS market, as these systems depend on electronics for their functionality. The Federal Motor Carrier Safety Administration (FMCSA) in the U.S. aims to reduce the number of fatalities and accidents involving passenger vehicles, trucks and buses.
Mentioned below are few other take aways from the report:
• Consumer preference towards safer driving experience and stringent regulations that mandate rules for safety have acted as a major propellant for the growth of the automotive ADAS market.
• A spike in sales of luxury vehicles has pushed the growth of the automotive ADAS market further.
• Safety mandates for vehicles being imported into some countries and additional requirements pertaining to prerequisite safety features in commercial vehicles are expected to open new opportunities of growth for the ADAS market.
• The Europe automotive ADAS market recorded the highest share of the 2016 global market, with over 33%.
• Germany proved to be a major consumer base for the automotive ADAS, and the market in this country is poised to experience a CAGR of 24.1% during the forecast period.
• The North America ADAS market stood third, after Europe and Asia-Pacific, with a market share of about 30% in 2016. The U.S., with its large automotive production base, led Canada and Mexico in the North America automotive ADAS market.
• The Asia-Pacific region, with Japan and China as the major automotive hubs, has opened up new opportunities for growth of the automotive ADAS market. Growing consumer awareness, rising demand for OEM-installed safety systems in C-segment cars, and increasing demand for luxury vehiclesare expected to drive the market for automotive ADAS in India, and the ADAS market in that country is expected to experience a CAGR of 19.4% through 2021.
• Japan, China and Korea together accounted for a share of more than 85% in the Asia-Pacific automotive ADAS market as of 2016, owing in part to their stringent automotive safety regulations.
• The market for automotive ADAS is expected to grow substantially in Saudi Arabia, as more luxury vehicles are purchased.
• As of 2016, parking assistance systems accounted for over 23% of the overall ADAS market by type.
The average selling price of the ADAS products has been dropping over the past few years, resulting in increased demand. With the reduction in price of ADAS technology, more automobile manufacturers are directly installing ADAS and passing the price reduction on to end users. When it comes to the aftermarket, the reduced prices of ADAS have motivated consumers to install these products from local shops.
• Growing emphasis on road safety and streamlined traffic flow are expected to propel the market for traffic sign recognition systems, which is expected to experience a CAGR of 25.5% during the forecast period.
• Adaptive front lighting systems are expected to see a downturn in popularity, and the market for them is expected to register a relatively low CAGR of 12.0% over the forecast period.
• Radar sensors, owing to their robust functionality and multiple applications, are expected to dominate the ADAS market by technology, accounting for over 57% of the overall automotive ADAS market by 2021.
• Major players such as Denso, Continental, Aisin, Delphi and Valeo are trying to maintain their dominance in the automotive ADAS market by launching innovative products with enhanced safety features.
• Emerging players, such as Intel's Mobileye, are now focusing on expansion strategies in order to capitalize on untapped markets across the globe.
Read the full report: http://www.reportlinker.com/p05002448/Advanced-Driver-Assistance-Systems-Technologies-and-Global-Markets.html
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