Advanced Driver Assistance System (ADAS) Market CAGR of 38.84% Size 2021: In-Depth Players Analysis, Industry Trends, Share Estimation, Global Growth, Developments Strategies, Future Investments, Supply Demand Scenario, Regional Forecast till 2027

(Heraldkeepers via Comtex)

Advanced driver assistance systems (ADAS) facilitate the driver in identifying hazardous road conditions thereby improving the driving experience with enhanced safety. The implementation of ADAS systems on different vehicles can significantly reduce the number of road accidents and severity of injuries.

Different sensors such as ultrasonic, image, RADAR, LiDAR, infrared and LASER provide enhanced features including parking assistance, lane departure warning, tire pressure monitoring, adaptive cruise control, blind spot detection, drowsiness monitoring and night vision. The ongoing technological developments have resulted in expanding ADAS beyond high-end vehicles into high-volume mainstream implementations.

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Products offered from upstream manufacturers (software & components) are differentiated owing to the specificity of the requirements that depend on the applications. Stringent government regulations in Asia-Pacific countries leads to higher adoption of ADAS systems. Huge installation cost and complexity in testing ADAS systems are restraining the market growth. In addition, the incorporation of ADAS systems in mid-range and low-range vehicles and increasing electronic integration within vehicles would create numerous opportunities for the market in near future.

Asia-Pacific advanced driver assistance systems market is segmented based on component and country. The component segment is further bifurcated into type of system and type of sensor. Adaptive cruise control, lane departure warning system, park assist, blind spot detection system, adaptive front lighting system, tire pressure monitoring system, drowsiness monitor system and night vision systems have been considered under system type.

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Amongst these, tire pressure monitoring systems exhibit highest growth and is expected to grow at a promising CAGR of 38.84% during the forecast period (2015-2020).

Adaptive front lighting system dominates the ADAS market while constituting a revenue share of around 25.8% in the year 2014. Different sensors used in advanced driver assistance systems market include ultrasonic sensors, radar sensors, LIDAR sensors, infrared sensors, image sensors and laser sensors. Key automotive production countries namely Japan, India and South Korea have also been forecast to register a significant growth in demand for advanced driver assistance systems.

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Key players in APAC advanced driving assistance system market are Valeo, Hitachi Ltd., Robert Bosch GmbH, Continental AG, Toyota Motor Corporation, Denso Corporation, Audi AG, BMW AG, Ford Motors and General Motors (GM).

POTENTIAL BENEFITS FOR STAKEHOLDERS

The report identifies the key drivers, opportunities and restraints which shape the market and provides an impact analysis for the forecast period
Porters five forces analysis provides a clear idea regarding the potency of the buyers and the suppliers participating in this market
Current and future trends are outlined to determine the overall attractiveness of the market and to single out profitable trends in order to gain a stronger foothold in the market
The report provides detailed analysis of Asia-Pacific ADAS market with respect to system type, sensor type and country to enable stakeholders take precise investment decisions

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

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This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

Advanced Driver Assistance System (ADAS) MARKET KEY SEGMENTS

The market is segmented on the basis of component and country.

MARKET BY COMPONENT

By System Type

Tire Pressure Monitoring System (TPMS)
Drowsiness Monitor System
Intelligent Parking Assist System (IPAS)
Adaptive Cruise Control System
Blind Spot Object Detection System
Lane Departure Warning System
Adaptive Front-Lighting System
Others
Night Vision System
Driver Monitoring System

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By Sensor Type

Ultrasonic Sensor
Infrared(IR) Sensor
Radar Sensor
Image Sensor
LiDAR Sensor
LASER Sensor

MARKET BY COUNTRY

China
Japan
India
South Korea
RO-APAC (Rest of Asia-Pacific)
Singapore
Australia
Thailand

What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.

During the forecast period, the report analyzes the growth rate, market size, and market valuation.

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Source - HeraldKeeper
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