PORTLAND, Oregon and PUNE, India, December 14, 2017 /PRNewswire/ --
According to a recent report published by Allied Market Research, titled, "Advance Driver Assistance Systems Market by Component Type: Global Opportunity Analysis and Industry Forecast, 2017-2025," the global advance driver assistance systems market was valued at $25,116 million in 2016, and is projected to reach at $143,051 million by 2025, growing at a CAGR of 21.2% from 2017 to 2025.
ADAS applications are majorly adopted in the European region; thus, this region contributes to maximum revenue in the global market, followed by North America, Asia-Pacific, and LAMEA.
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The advance driver assistance systems market is driven by the forthcoming need for comfort, growth in government regulations related to safety, and high focus on consumer safety. However, pricing pressure, inflation, and complexity & difficulty in testing systems hamper the market growth.
In 2016, the system type dominated the component type segment, in terms of revenue. Furthermore, based on system type, adaptive front-lighting system led the global market, followed by lane departure warning system in 2016. However, tire pressure monitoring system segment is expected to witness the highest CAGR throughout the forecast period. Similarly, RADAR sensors led the overall market in 2016, in terms of revenue, followed by image sensor in sensor type segment.
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KEY FINDINGS OF THE STUDY
- The system type segment generated the highest revenue in the global advance driver assistance systems market in 2016.
- In 2016, adaptive front-lighting system generated the highest revenue among the system type segment.
- LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
- In 2016, Europe accounted for the highest market share, followed by North America, Asia-Pacific, and LAMEA.
The key players profiled in the report are Magna International Inc., Autoliv Inc., Continental AG, Robert Bosch GmbH, Valeo, Denso Corporation, NXP Semiconductor, Panasonic Corporation, Renesas Electronics Corporation, and Texas Instruments.
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SOURCE Allied Market Research