Advanced Driver Assistance System Market Worth 42.40 Billion USD by 2021
PUNE, India, May 25, 2016 /PRNewswire/ --
The report "Advanced Driver Assistance System (ADAS) Market by Type (ACC, HUD, TPMS, LDWS, Blind Spot Detection, Adaptive Front Lights, Electronic Brake Assist, Park Assist, Night Vision, Pedestrian Detection, Road Sign Recognition, Drowsiness Monitor), Sensor Technology (Ultrasonic, Image, RADAR, LIDAR, Infrared), Vehicle Type, & by Region - Forecast to 2021", The ADAS market is projected to grow at a CAGR of 10.44% from 2016 to 2021, to reach a market size of USD 42.40 Billion by 2021.
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Browse 75 market data Tables with 58 Figures spread through 171 Pages and in-depth TOC on "Advanced Driver Assistance System (ADAS) Market"
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Factors such as existing or upcoming vehicle safety regulations, improved socio-economic conditions resulting in an increasing demand for luxury cars, and the changing preferences of buyers are key trends that are influencing the global ADAS market.
Radar sensor: Promising technology for Advanced Driver Assistance Systems
The radar sensor segment is estimated to lead the ADAS market, by sensor technology, during the forecast period. The high demand for radar sensors can be attributed to the advantages offered by these sensors in various vehicle applications. Radar sensors are used in adaptive cruise control, emergency braking systems, and collision avoidance systems, among others. The market for these technologies is set to witness substantial growth, with regulatory bodies in Europe and North America planning to mandate some of the technologies. This would consequently boost the market for radar sensors.
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Tire pressure-monitoring system: Upcoming mandates in Asia-Oceania to drive the demand
The tire pressure-monitoring system segment is estimated to dominate the global ADAS market during the forecast period. Tire pressure-monitoring systems have been mandated for all passenger cars in Europe and in North America. Furthermore, Asian countries such as Japan, China, and India are in the process of investigating the benefits of tire pressure-monitoring technology. Regulations mandating these systems are projected to be followed from 2018 (Japan), 2019 (China), and 2020 (India) onwards. Tire pressure-monitoring systems are therefore estimated to constitute the largest market in 2016.
North America: Largest market for Advanced Driver Assistance Systems
North America is estimated to be the largest market for ADAS in 2016, owing to the stringent safety regulations in the region. Upcoming governmental regulations relating to vehicle, driver, passenger, and pedestrian safety have compelled automobile manufacturers to include the mandated features as a default offering. For instance, the installation of tire pressure-monitoring systems has been mandated for all passenger cars in Europe and North America. The U.S. New Car Assessment Program (NCAP) has mandated emergency braking and lane departure warning systems to ensure a five-star rating for any passenger car. Additionally, the U.S. National Highway Transport Safety Administration (NHTSA) is analyzing the feasibility of making lane departure warning and rearview camera systems a mandate. Regulations pertaining to vehicle safety are therefore estimated to drive the growth of the ADAS market during the forecast period.
The report covers all the major players in the global Advanced Driver Assistance System Market, including Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K.), Robert Bosch GmbH (Germany), and Autoliv Inc. (Sweden).
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