MarketStudyReport.com Adds New Advanced Driver Assistance System Market 2017- 2024 research report providing information and By Technology, By Sensor, By Vehicle, By Distribution Channel, Industry Analysis, Regional Outlook, Growth Potential, Trends, Competitive Market Share & Forecast spreading across 350 Pages with table and figures in it.
Selbyville, DE -- (SBWIRE) -- 10/12/2018 -- Europe ADAS market will witness CAGR over 14% up to 2024. Government regulations mandating installation of safety systems in vehicles will support the industry growth. Institutional initiatives including Euro NCAP to promote driving assistance systems will drive the product penetration. In addition, presence of key automobile manufacturers provides a positive outlook for the regional demand.
Autoliv, Bosch, Continental, Delphi Automotive, Denso, Harman International, Hyundai Mobis, Mobileye N.V., Nvidia Corporation and TRW Automotive are the key players in the ADAS market. Mergers & acquisitions, new product launches, collaborations and supply agreements are among major strategies adopted by industry participants. For instance, in 2017, Delphi announced the acquisition of NuTonomy, an autonomous driving start-up to enhance its market foothold.
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Inclination towards advanced safety systems among OEMs to differentiate their brand and gain competitive advantage will drive the ADAS market growth. Rising demand from autonomous cars owing to its significant benefits including reduced traffic, increased safety and improved transportation service will propel the industry growth.
Global ADAS market share is led by park assist systems due to increasing adoption particularly from aftermarket. Faster parking and reduced curb strikes are among key properties supporting the product demand. Rising demand from passenger and commercial vehicles particularly for forward collision warning functions has enhanced the industry growth.
Image sensors dominated the industry share contributing over 33% of the ADAS market revenue in 2016. Evolution of modern computer vision analysis system with effective object identification will support the product penetration. Strong outlook for image sensors in auto high beam, blind spot detection, lane departure warning systems, night vision and surround view systems will support the business growth.
HCVs are anticipated to witness growth over 14% up to 2024. Necessity for speed constraints to ensure safety among HCVs has enhanced the product scope. Regulatory compliance promoting advanced sensor usage including lane departure warning systems and AEBs will fuel the industry demand.
OEMs dominated the global ADAS market share and are anticipated to remain dominating in forecast timeframe due to increasing adoption of safety standards. Increasing preference for safety systems among manufacturers to improve brand identity and ensure travel security will support the demand. OEMs are focused on strategic partnerships and collaborations with technology providers including sensors and other semiconductor suppliers.
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Shifting preference for sensing systems in automobiles to avoid road accidents has enhanced the Advanced Driver Assistance System (ADAS) demand. As per WHO, global road traffic deaths reached 1.25 million in 2015. Increasing consumer awareness pertaining to travel safety and security will propel the industry growth. Stringent government regulations for vehicle safety to ensure public health security will support the product demand.
Effective safety functions in steering, braking, monitoring and warning are key properties driving the industry demand. In addition, increasing adoption of ADAS to enhance economy and comfort with functions including monitoring blind spots and parking assistance will support the product demand.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. ADAS Industry Insights
Chapter 4. ADAS Market, By Technology
Chapter 5. ADAS Market, By Sensor
Chapter 6. ADAS Market, By Vehicle
Chapter 7. ADAS Market, By Distribution Channel
Chapter 8. ADAS Market, By Region
Chapter 9. Company Profiles
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2018-2023 United States Advanced Driver Assistance Systems (ADAS) Market Report (Status and Outlook)
In 2017, the Advanced Driver Assistance Systems (ADAS) market size was xx million USD in United States, and it will be xx million USD in 2023, with a CAGR of xx% between 2017 and 2023.
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