Increasing demand for safe, efficient, and convenient driving, rising disposable income in emerging economies, and growing stringency of safety regulations across the globe are playing a key role in making ADAS popular.
Northbrook, IL -- (SBWIRE) -- 04/05/2019 -- The report "ADAS Market by System (ACC, AFL, DMS, NVS, IPA, PDS, TJA, FCW, CTA, RSR, LDWS, AEB, & BSD), Component (Radar, LiDAR, Ultrasonic, and Camera Unit), Vehicle (PC, LCV, Buses, & Trucks), Offering (Hardware, Software), EV, and Region - Global Forecast to 2025", The advanced driver assistance system (ADAS) market is estimated to be USD 24.24 billion in 2018 and is projected to reach USD 91.83 billion by 2025, at a CAGR of 20.96%. The market is principally driven by the increasing demand for a safe, efficient, and convenient driving experience. The increasing demand for autonomous vehicles has also fueled the ADAS market. Driver errors can be minimized by transforming the vehicle into a self-driving unit as automated driving technology helps to reduce the errors caused by drivers. ADAS would play a crucial role in reducing the number of road accidents and would lead to a safe, productive, and efficient driving experience.
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The radar sensor is the fastest growing segment of the ADAS market, by component
The increased traffic congestion, roadways infrastructure, and government regulations for vehicle safety will drive the growth of various radar-based ADAS applications. The rising trend of autonomous and semi-autonomous vehicles in the automobile industry is projected to be another major driver for the global automotive radar market.
Hybrid Electric Vehicle (HEV) to acquire the largest share of the ADAS market, by electric vehicle type
HEV is estimated to hold the largest share of the ADAS market, by electric vehicle. Stringent emission norms, environment safety, vehicle electrification, and government regulations are expected to boost the market for ADAS in HEV segment. Governments around the globe are promoting the sale of electric vehicles by offering incentives to customers and subsidies to electric vehicle OEMs. Government incentives are expected to drive the ADAS market for electric vehicles.
Asia Pacific: The largest market for the ADAS market
The Asia Pacific region is estimated to hold the largest share, by value, of the ADAS market in 2018. The demand for ADAS in this region is triggered by the increasing vehicle production in China and India and the increasing number of luxury vehicles in China and Japan. This region is also the leading producer of automobiles in the world.
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The report analyzes all major tier I suppliers in the ADAS market. Robert Bosch (Germany), Continental (Germany), ZF Friedrichshafen (Germany), Intel (US), and Aptiv (UK) are some of the leading suppliers in the ADAS market.