PUNE, India, Aug. 17, 2017 /PRNewswire/ -- Market Research Future published a Cooked research report on "Global Driver Assistance System Market Research Report - Forecast to 2027" – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Delphi Automotive Plc. (UK), Gentex Corporation (US), Autoliv Inc. (Sweden), Continental AG (Germany), Hitachi Ltd (Japan), Magna International (Canada), Robert Bosch Gmbh (Germany), Hella Kgaa Hueck & Co. (Germany), Texas Instruments Inc. (US), and Renesas Electronics Corporation (Japan) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Driver Assistance System Market.
Driver Assistance System Market – Overview
The Global Market of Driver Assistance System is growing rapidly mainly due to the earnest demand for advent technologies that can enable safety features in automobiles and increasing purchasing power of buyers. According to a recent study report published by the Market Research Future, the global market of Driver Assistance System is booming and expected to gain prominence over the forecast period. The global Driver Assistance System Market is anticipated to accrete to USD 112.69 Billion by 2027, at a striking double digit CAGR of 22.90 % between 2016 and 2027.
Factors such as growing awareness and concerns of automotive safety among consumers, stringent government norms of safety, consumer preferences focusing on the new technology advancement and active safety features and rapidly changing dynamics of the global automotive industry are fostering the market growth of Driver Assistance System. Additionally, government initiatives of mandating regulations over usage of driver assistance system into automobiles is providing impetus to the market growth of Driver Assistance System.
"Advanced safety features are in high demand and hence, the global Driver Assistance System market is surging rapidly." States the Scholar of Market Research Future. "Due to various such factors the global Driver Assistance System market is expected to grow at a substantial rate of CAGR for the forecast period particularly for high range and mid-range segment vehicles." Prognosticates the Scholar further.
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Driver Assistance Systems are developed to automate/ enhance vehicle systems for safety and better driving. Safety features are designed to avoid crashes and accidents by offering technologies that alert the driver to potential problems, or to avoid collisions by implementing safeguards and taking over control of the vehicle. Adaptive features may automate lighting, provide adaptive cruise control, automate braking, incorporate GPS/ traffic warnings, connect to smartphones, alert the driver and other cars about dangers, keep the driver in the correct lane, and indicate the blind spots.
In addition to trendsetting technologies such as automated and autonomous driving, smart infotainment, and lightweight design, several very fundamental trends are influencing the Automobile sector: digitalization, sustainability, efficiency, and cost saving are as much a part of the automotive sector as safety on the roads and comfort and convenience while driving.
Driver Assistance System Market - Competitive Analysis
Characterized by the presence of several major well-established players, the global Market of Driver Assistance System appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. The Key players operating in the market compete based on pricing, technology, reputation and services. Marketers strive to be specialized in a broad spectrum of technologies and processes to deliver high‐quality products with superior quality and add on services to the automotive industry. They try to offer a wide range of services from simple issues, such as understanding the auto‐dimming function of mirror of the vehicle, to more complex issues such as how to program the high-tech features. These Players invest heavily in the R&D to develop a technology that is on a completely different level compared to their competition. These Key players strive to develop products with the adept technologies, unrivalled design and features.
Driver Assistance System Market - Segments
The Global Driver Assistance System Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type: Comprises Adaptive Cruise Control (ACC), Lane Departure Warning (LDW) system, Park Assist Drowsiness Monitoring System, Blind Spot Detection (BSD) System, Night Vision, Tire Pressure Monitoring System (TPMS), and Adaptive Front Lighting.
Segmentation by Technology: Comprises Ultrasonic sensor, Image sensor, Lidar sensor, Radar sensor.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Adaptive cruise control (ACC) has accounted for the largest market share registering 18.34% of market share in 2015.
On the basis of technologies, Ultrasonic Sensors is growing with a CAGR of 23.62% from 2016 to 2027.
Driver Assistance System Market - Regional Analysis
Asia-pacific dominated the Global Driver Assistance System Market with the largest market share due to improving lifestyle and infrastructure in the regional countries, and therefore accounting for $2.51 billion and is expected to grow over $23.12 billion by 2027.
Driver Assistance System Market in European market is expected to grow at CAGR of 23.67% from $ 4.36 billion in 2016 to $45.16 billion by 2027.
The North-America market for Driver Assistance System Market is expected to grow at 22.81% CAGR (2016-2027).
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SOURCE Market Research Future