The new report published by Stratview Research, titled Automotive Advanced Driver Assistance Systems Market, is Segmented by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium & Heavy Duty Commercial Vehicle), by Technology Type (Adaptive Cruise Control, Adaptive Front Light, Blind Spot Detection, Emergency Brake Assist, Drowsiness-Monitoring System, Lane Departure Warning, Head-up Display, Night Vision System, Park Assist, E-Call Telematics, Tire Pressure-Monitoring System, and Others ADAS), by Sensor Type (Radar, Image, LIDAR, Infrared, and Ultrasonic), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Market Insights:
The automotive advanced driver assistance systems (ADAS) market is projected to experience an excellent double-digit CAGR of >10% over the next five years to reach US$ 30.1 billion in 2025.
Market Dynamics
Driven by rising consumers’ preferences for safety features, advancement in technology, the introduction of more stringent norms, and organic growth in global automobile production. Additionally, increasing demand for premium and luxury cars is also propelling the growth of advanced driver assistance systems in the automotive industry. Some companies have started to deploy these systems from in mid-range cars as well to fulfill consumers’ safety preferences.
Segment Analysis
The automotive advanced driver assistance systems (ADAS) market is segmented based on the following vehicle types: Passenger Cars, Light Commercial Vehicles, and Medium & Heavy-Duty Commercial Vehicles. Passenger car is expected to remain the largest vehicle type in the automotive ADAS market over the next five years, driven by the increasing penetration of ADAS in the segment. The vehicle type is experiencing an expansion in usage of ADAS from luxury cars to mid-range cars. The vehicle type is also projected to witness the fastest growth during the forecast period, owing to rising demand for ADAS across regions.
Radar will remain the most dominant sensor type in the automotive advanced driver assistance systems (ADAS) market during the forecast period. Radar sensors are used in a wide array of systems, such as adaptive cruise control systems and emergency brake assists. It is also anticipated to be the fastest-growing sensor type in the same period. Ultrasonic and image sensors are also projected to experience a healthy growth rate in the same period.
The market is segmented based on the following technology types: Adaptive Cruise Control, Adaptive Front Light, Blind Spot Detection, Electronic Brake Assist, Drowsiness-Monitoring System, Lane Departure Warning, Head-up Display, Night Vision System, Park Assist, E-Call Telematics, Tire Pressure-Monitoring System, and Others ADAS. All these technologies are expected to grow at a healthy pace during the forecast period. Tire monitoring systems will continue to occupy a large market share in the North America and Europe region because of mandated regulation by the US and European (countries’) governments. An adaptive cruise control system is expected to remain dominant in the North American region. Asia- Pacific is estimated to be the fastest-growing region for blind spot detection, emergency brake assist, head-up display, and park assist systems, mainly because of high congestion in traffic and rising purchasing power in developing countries.
In terms of region, North America is estimated to remain the leading market during the forecast period. Increasing demand for high safety features, mandate of some of the key ADAS system installations in the vehicles such as tire pressure monitoring systems, and organic growth in automotive production are the major growth drivers of the region over the next five years. Asia-Pacific is expected to grow at a higher rate during the forecast period because of increased automobile production, especially in China and India, and increasing penetration of ADAS in the major Asia-Pacific markets, such as China, Japan, and India. The Middle East and Latin America are also estimated to experience healthy growth in the same period.
Research Methodology
This report offers actionable insights and is the outcome of an extensive study comprising of secondary research, primary interviews with industry stakeholders, validation and triangulation with Stratview Research’s internal database. Experts at Stratview Research have conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
The report also covers market structure, market environment analysis, market segment trends and forecasts, competitive landscape and dynamics, attractive market segments and associated growth opportunities, emerging trends, strategic growth opportunities for the existing and new players, and key success factors.
Key Players
Some of the key players in the Automotive Advanced Driver Assistance Systems Market mentioned in the report are -
- Continental AG
- Delphi Automotive Plc
- Denso Corporation
- Robert Bosch GMBH
- Magna International Inc.
- Valeo
- ZF TRW Automotive.
Key Insights Presented in the Report:
- Market Drivers - After several interviews with the key players active in the Automotive Advanced Driver Assistance Systems Market, the researchers have listed down few factors that have majorly affected the growth of the key players. This can assist the users in formulating their growth strategies accordingly.
- Industry Life Cycle Analysis: The report consists of evolution of an industry or business based on its stages of growth and decline. The four phases of the industry life cycle that are covered in the study are the introduction, growth, maturity, and decline phases.
- Market Attractiveness – Taking into account the market size, and growth rate, and the level of competition and other constraints, the report also is aided with market attractiveness.
- Key success factors- KSFs refer to one of the crucial strategic tools. Correct understanding of the key success factors is a good base for a well-structured company differentiation. To help the user with proper development and execution of strategy.
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Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with insightful market data to aid strategic decision making. These exclusive reports are the result of extensive research and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
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