New York, Nov. 18, 2019 (GLOBE NEWSWIRE) -- The rising number of government initiatives globally related to the safety of the vehicles coupled with the rising demand for safe and efficient vehicles are the major factors attributing to the growth of the ADAS market over the forecasted period. Another factor helping the growth of the Advnaced Driver Assistance Systems market is the rising demand for luxurious vehicles which come with ADAS systems built in.
According to the current analysis of Reports and Data, the global Advanced Driver Assistance Systems (ADAS) market was valued at USD 19.57 Billion in 2018 and is projected to grow at a CAGR of 22.57% from 2019 to 2026. Advanced Driver Assistance Systems (ADAS) are electronic systems that help the driver of the vehicle to drive or park the vehicle. With the increasing number of government regulations globally related to the safety of the vehicles as well as the increasing demand for safe and efficient vehicles. The factor restraining the growth of the market is the unavailability of the needed infrastructure in some regions of the globe.
The ADAS technology utilize the System on a Chip and Field Programmable Gate Arrays as well as automotive sensors that can be based upon systems that are local to the car. ADAS provide the driver with the essential information, automate the difficult or repetitive tasks in an aid to increase the car safety for everyone on the road. Most of the ADAS possess cutting edge technologies. Since ADAS rely on the electronics as well as firmware elements, the development of such cutting-edge systems is governed by international safety standards like the IEC-61508 and ISO-26262.
Two major trends that can help increase the demand for ADAS over the forecasted period are the switch from conventional powered vehicles to electric powered vehicles; and the increasing automation in vehicles. Trends like these will majorly impact the demand for ADAS through the forecasted period.
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Further key findings from the report suggest
- The Global Advanced Driver Assistance Systems (ADAS) market is forecast to grow at a rate of 22.57% CAGR to reach a valuation of USD 129.76 Billion in 2026.
- Rising automotive industry in countries like China, India will witness fast growing demand for ADAS over the forecasted period.
- Passenger car segment is forecasted to occupy the largest share of the market in 2026 on account of rising demand for vehicles from the customers. Reforms related to the scrapping of conventional powered vehicles and the switch to electric cars is the major factor attributing to the large share of the segment. The Passenger vehicle segment accounted to USD 5.13 Billion in the European region in 2018.
- Players in the industry are focused on improving their product offerings by investing in the research and development of latest technologies, thus helping them acquire a substantial positioning over the other players of the market.
- Competitors in the industry are also utilizing certain strategies like targeted acquisitions and mergers, thus helping them gain a better share in the market.
- Key participants include Robert Bosch GmbH (Germany), Continental International (Germany), ZF Friedrichshafen (Germany), Aptiv (Ireland), Intel (US), Denso (Japan), Hyundai Mobis (South Korea), Valeo (France), Magna (Canada), Samsung (South Korea), and Hella (Germany).
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Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the Advanced Driver Assistance Systems (ADAS) Market on the basis of System, Component, Type, Vehicle, Propulsion, and Region:
System (Revenue, USD Million; 2016–2026)
- Adaptive Cruise Control
- Adaptive Front Light
- Automatic Emergency Braking
- Blind Spot Detection
- Cross Traffic Alert
- Driver Monitoring System
- Forward Collision Warning
- Intelligent Park Assistance
- Lane Departure Assistance
- Night Vision System
- Pedestrian Detection System
- Road Sign Recognition
- Traffic Jam Assist
- Others
Component (Revenue, USD Million; 2016–2026)
- Hardware
- Software
Type (Revenue, USD Million; 2016–2026)
- Image Sensor
- LiDAR Sensor
- Ultrasonic Sensor
- Infrared Sensor
- Radar Sensor
- Laser
- Capacitive Sensor
- Others
Vehicle (Revenue, USD Million; 2016–2026)
- Passenger Vehicle
- Mid-sized car
- Sedan
- Minivan
- Convertible
- Crossover
- Hatchback
- Others
- Light Commercial Vehicle (LCV)
- Compact
- Utility Vehicle
- Supermini
- Light Truck
- Others
- Heavy Commercial Vehicle (HCV)
- Mobile Truck
- Limo
- Recreational Vehicle
- Towing Truck
- Fire Trucks
- Others
Propulsion (Revenue, USD Million; 2016–2026)
- Electric
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Petrol
- Diesel
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Regional Outlook (Revenue in USD Billion; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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