Advanced Driver-Assistance Systems (ADAS) Market — Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2020 to 2026) – UnivDatos Market Insights (UMI)
Global Advanced Driver-Assistance Systems Market is expected to reach the market valuation of US$ 72.9 billion by 2026 expanding at a reasonable CAGR of 15.9% during the forecast period (2021-2026) from US$ 32.4 billion in 2019. Advanced Driver Assistance Systems are intelligent systems that reside inside the vehicle and assist the main driver in a variety of ways. These systems are used to provide vital information about traffic, closure, and blockage of roads ahead, congestion levels, suggested routes to avoid congestion etc.
The various factors driving the advanced driver-assistance systems market include the rising demand for a safe, efficient, and convenient driving, government mandates about vehicle safety, and increasing demand for luxury vehicles. However, lack of required infrastructure in developing countries, complex and expensive features, and environment constraints are expected to hinder the growth of the advanced driver-assistance systems market.
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ADAS technologies exist at different levels of active assistance and are being introduced in overlapping stages. Driver information systems, such as simple rear-view cameras, surround-view displays, and blind spot and lane departure warnings, always provide information but leave the driver in full control. Advanced driver-assistance systems represent an evolution in the vehicle sensing, intelligence and control which would ultimately lead to self-driving cars. In May 2018, at least one ADAS feature was available on 92.7% of the new vehicles in the United States. These advanced driver assistance systems are within the financial reach of many vehicle customers (approximately US$ 1,950 for the average ADAS bundle).
There are different types of ADAS technologies powered by advanced computing, including artificial intelligence (AI), computer vision, and edge computing. Some of the systems monitor and alert drivers to potential safety risks, while few are involved in taking action to prevent impeding accidents. The major systems include Adaptive Cruise Control (ACC), Intelligent Park Assist (IPA), Automatic Emergency Braking (AEB), Adaptive Front Light (AFL), Blind Spot Detection (BSD), Lane Departure Warning (LDW), Drowsiness Monitor System (DMS) and others. The IPA segment dominated the market in 2019 accounting for 27.4% and is anticipated to maintain its dominance during the forecast period owing to the government policies supporting smart parking systems.
For a detailed analysis of the system types in Advanced Driver-Assistance Systems Market browse through- https://univdatos.com/report/advanced-driver-assistance-systems-adas-market-current-analysis-and-forecast-2020-2026
The driver assistance systems both increase the safety and efficiency of motor vehicles, commercial vehicles and special vehicles and shape the mobility of tomorrow. The highly resilient and reliable sensors are essential for various application in the ADAS in vehicles. The vibrations, dirt, moisture, or extreme heat or cold must not change the specifications of the systems used. Some of the major sensors involved in the advanced driver-assistance systems include image sensors, LiDAR sensors, ultrasonic sensors, and radar sensors. The image sensors dominated the Global Advanced Driver-Assistance Systems market accounting for 35.9% of the market revenue and is expected to remain dominant during the analyzed period.
Based on the vehicle type, the market is mainly bifurcated into a passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger vehicles dominate the market and generated revenue of US$ 17.1 billion in 2019. Various countries in North America, Europe and Asia-Pacific have introduced the regulations which mandate the incorporation of several ADAS features in the passenger car segment.
The OEMs and aftermarket are the major distribution channels included in the advanced driver-assistance systems market. The OEMs dominated the market and accounted for 79.1% in 2019 and is anticipated to maintain its dominance during the analyzed period. Automobile manufacturers around the world are currently developing the next generation of advanced driver-assistance systems including self-driving cars which could steer, accelerate, and brake fully autonomously. Because of the regulations for cars to have these features and the demand for vehicles with ADAS, the automakers are adopting the ADAS features more rigorously and the market for automotive ADAS is estimated to grow tremendously.
Additionally, the report provides detailed initiatives that are being taken in the field of advanced driver-assistance systems. The market is classified into distinct regions including North America (the U.S and Canada), Europe (Germany, France, Spain, Italy, and United Kingdom), Asia-Pacific (China, Japan, India, South Korea, and Australia), and the Rest of the World. Europe generated maximum revenue of US$ 11.3 billion in 2019 owing to the availability of ADAS in the European market for over two decades and the rich presence of major component manufacturers, the high demand for sensors for automated vehicle prototypes. However, the APAC region is expected to witness the highest CAGR growth of 18.52% during the forecast period 2020-2026.
Robert Bosch GmbH, Continental AG, Autoliv Inc., Aptiv, Delphi Automotive Company, ZF Friedrichshafen, Denso Corporation, Hella KGAA Hueck & Co, Hyundai Mobis, and Texas Instruments Inc. are some of the prominent players operating in the global advanced driver-assistance systems market. Several M&A’s along with partnerships have been undertaken by these players to develop advanced driver-assistance systems.
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