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Global advanced driver assistance systems (ADAS) testing equipment market research study focuses on various opportunities, trends, drivers and restraints across key geographies in the globe. This delivers a global perspective by covering all the key areas presenting a holistic view of the market. This assists the reader to get a detailed understanding about the regions with optimum potential in order to slate investment decisions and expansion strategies. The research study eliminates all the biasness giving a more realistic shape to the market acumen
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Unique research methodology to glean vital market insights
Credibility of the researched data and statistics lies in the uniqueness of the research methodology which ensures higher accuracy. In depth assessment of the global advanced driver assistance systems (ADAS) testing equipment market is underpinned by an extensive research process that includes both secondary and primary research to obtain relevant numbers. The data collected undergoes several funnels of validation and re-examination at each step, as the research progresses. This ensures delivering value with data having higher degree of accuracy. The expert opinions of the market observers and the domain experts is extrapolated and triangulation of these enables the analysts to arrive at a much accurate global market representation.
Prevalence of safety standards to proliferate the demand for advanced driver assistance system testing equipment
Advanced driver assistance systems are essentially automated systems that ensure driver safety by improving driving experience. Various safety features are being installed in new vehicles to prevent mishaps and collisions. For instance, new vehicles are equipped with features such as anti-lock braking system, adaptive light control, automatic parking, crosswind stabilization, parking sensors and driver monitoring system , to name a few. However, testing of these features becomes imperative during development stage to ensure effective functioning of these added features. Feature testing activities are becoming essential across many counties, such as UK, Germany, US and Asia Pacific. Increasing awareness with respect to technological advances has caused an upsurge in higher consumer demand for innovative and developed technologies, for instance ADAS (Advanced Driver Assistance System). This has spurred the need for testing of ADAS.
ADAS plays a vital role in autonomous driving
One of the most recent trends in automotive industry is the emergence of autonomous vehicles. In North America, especially in Canada, development and production of autonomous vehicles is growing at a rapid pace. These vehicles are integrated with ADAS system to enhance vehicle safety and reduce road accidents. From manufacturers point of view, the new trend of autonomous driving coupled with vehicle safety systems are set to spearhead the adoption rate of advanced driver assistance systems, which in turn is expected to push the demand for ADAS testing equipment across the globe.
Developers of technology in the automotive industry and original equipment manufacturers have a vital role in the penetration and development of advanced driver assistance systems. Companies are investing heavily in research and development to enhance safety technologies. Increasing initiatives in the automotive sector to enhance car safety and develop autonomous vehicles are triggering higher investments in ADAS by OEMs. This is expected to create potential opportunities for testing equipment needed for ADAS.
According to this research report, the demand for advanced driver assistance system is expected to increase at a stellar rate in the coming years. The sales of advanced driver assistance systems testing equipment is poised to grow at a higher rate of more than 12% during the forecast period (2018-2028) and is estimated to reach a value of over US$ 140 Mn by end of the assessment year (2028). OEMs to reflect higher adoption of ADAS testing equipment in the coming years
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Automotive OEMs are original manufacturers of vehicles. With growing awareness of road safety systems, rapid penetration of ADAS is being witnessed. OEMs are incorporating ADAS in their vehicles to ensure enhanced vehicle protection. This has resulted in increased use of testing equipment for ADAS by OEMs. The sale of ADAS testing equipment by OEMs is estimated to surpass US$ 100 Mn by end of the assessment period (2028).
The key companies involved in the global advanced driver assistance systems testing equipment market are TKH Group NV, FEV Group GmbH, National Instruments Corporation, Analog Devices, Inc., Racelogic Limited, Konrad GmbH, Oxford Technical Solutions Ltd., AVL LIST GmbH, Averna Technologies Inc., Dewesoft d.o.o., AB Dynamics plc., and GeneSys Elektronik GmbH.
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Advanced Driver Assistance Systems (ADAS) Testing Equipment Market - Global Forecast (2018-2028) : TKH Group NV, FEV Group GmbH, Racelogic Limited, Konrad GmbH
The global advanced driver assistance systems testing equipment market is projected to expand at a meteoric pace in the coming years. As per research, the global market is expected to rise at a value CAGR of 12.6% during the period of forecast, 2018-2028. In 2017, the global market valuation was US$ 38.3 Mn and it is anticipated to reach an estimation higher than US$ 140 Mn by end of the year of assessment