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(IT-NEWSWIRE.COM, October 14, 2021 )
Market Overview
Advanced driver-assistance systems (ADAS) are electronic frameworks that guide a vehicle driver while driving. At the point when structured with a safe human-machine interface, they are expected to build vehicle safety and generally road security. Most road accidents occur because of human blunders.
Advanced driver-assistance systems are frameworks created to robotize, adjust and upgrade vehicle systems for wellbeing and better driving. An increasing number of modern vehicles have advanced driver-assistance systems in recent times globally. The automated system which is given by ADAS to the vehicle is demonstrated to lessen street fatalities, by limiting human errors.
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Market Dynamics
Expanding technological innovations coupled with increasing initiatives towards vehicle automation and self-driving cars, growing adoption of ADAS in small cars, and increasing government initiatives for mandating driver assistance systems in order to lower road accidents are the crucial factors for the growth of the market.
Growing investment in research & development for the commercialization of these cars would provide growth opportunities. The future of the autonomous vehicle industry is driven by the decreasing cost of operation and the increased safety and reliability provided by such vehicles. The technology in autonomous driving has in some way surpassed that of human drivers in terms of safety.
For instance, carmakers are still struggling to keep up the pace of innovation when it comes to driving safely despite unclear lane markings, the ability to respond to signals from safety officers, and the capacity to operate safely in all weather conditions.
Compact vehicles are now the fastest-growing segment in the automobile market, and the expansion is likely to maintain its momentum in the near future owing to the downsizing trend sweeping the industry. The compact segment will be the growth engine for the Chinese auto market for the next two to five years, as a result of Chinese customers looking for easier mobility solutions.
Moreover, the car companies are attracting customers with the new features in small car segments like advanced assistance systems like blind-spot and lane-departure warning systems, automatic emergency braking, lane-change assistance, drowsiness alerts, and bird’s-eye displays. This will boost the ADAS market in the future.
Lack of infrastructure in developing countries is one of the major constraints for the growth of the market. The effective functioning of ADAS requires advanced infrastructure facilitates such as well-organized roads, lane marking, and the availability of GPS.
For highways, information such as lane change, object detection, distance between vehicles, traffic, and services such as navigation and connectivity is very important for vehicles equipped with ADAS. In countries like India, Brazil, and China, the development of sophisticated IT and infrastructure on highways is growing at a slower rate as compared to European countries.
Market Segment Analysis
By Type
• Adaptive Cruise Control
• Adaptive Light Control
• Blind Spot Detection
• Collision Avoidance Systems
• Driver Drowsiness Detection
By Value Chain
• Sensors
• Software Algorithm and ECU/DCU Technologies
By Vehicle Type
• Passenger Cars
• Light Commercial Vehicles
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Geographical Analysis
The global Advanced Driver Assistance System Market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The North America Advanced Driver Assistance System Market was worth $7.37 billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of 20.8 % during the forecast period. USA, Canada, and Mexico are the countries covered in the North American region.
The increase in automobile sales in the United States coupled with stringent environmental regulations are the major driver of the ADAS market. The existence of major manufacturers in this region combined with the availability of sophisticated technologies enables the advanced driver assistance systems market to flourish.
Additionally, the market for the ADAS system is fuelled by consumer interest in safety applications that protect drivers and reduce accidents. For instance, the United States is mandating that all vehicles be equipped with autonomous emergency braking systems and forward-collision warning systems by 2020.
The Europe Advanced Driver Assistance System Market was worth $6.44 billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of 20.8 % during the forecast period. Europe region is expected to hold the 2nd position globally in the forecasts period.
Geologically, Europe overwhelmed the worldwide ADAS advertise in 2017 inferable from stringent guidelines in regards to driver's wellbeing combined with high interests in ADAS by worldwide automakers. European Union has ordered the carmakers to fit ADAS frameworks, for example, autonomous emergency braking systems (AEBS) and lane departure warning systems (LDWS) in all overwhelming business vehicles weighing more than 7,000 Kilograms.
Germany is the largest economy in Europe, and its automotive industry is known worldwide for its high-quality automobile manufacturing. Moreover, the country is the fourth largest in terms of total vehicle production, globally, after China, the US, and Japan.
France's government is more concentrating on safety applications in automotive in recent years. The country is establishing a legislative framework that will allow the testing of autonomous cars on public roads by 2019 end.
Market Competitive Analysis
Some of the key market players are Autoliv Inc., Continental AG, Delphi Automotive PLC, Denso Corporation, Hella KGAA Hueck & Co, Hyundai Mobis, Magna International, Mobileye, Robert Bosch GmbH, and Valeo SA.
Autoliv and Bosch are the top two players in the ADAS market. They combinely hold approximately 10% of the total market.
Partnerships, business expansion, and mergers & acquisitions are among key strategies adopted by the industry participants.
For instance, in February 2018, Autoliv AB announced its new spin-off company, Veoneer, the supplier of autonomous driving solutions and ADAS. In June 2017, Autoliv partnered with Volvo to form a new venture, Zenuity to develop self-driving cars based on Nvidia’s Drive PX Al computing platform and commercialize them by 2021.
Related Topic's
Airbag Electronics Market, Automotive Testing Market, Automotive Transmission Market, Automotive ABS System Market, Advanced Gear Shifter System Market
DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
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