[175 Pages Report] ADAS Market by System (ACC, AFL, IPA), Component (Radar, LiDAR), Vehicle (PC, LCV), Offering and Region

Northbrook, IL -- (SBWire) -- 06/17/2019 --ADAS technology improves the driving experience while enhancing vehicle and pedestrian safety. It is becoming an integral part of modern automobiles and is being adopted in passenger cars as well as commercial vehicles.

The ADAS Market (Advanced Driver Assistance System 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% during the forecast period. The increasing demand for a safe, efficient, and convenient driving experience and rising demand for luxury vehicles across the globe are the key factors driving the growth of this market.

The key players in the ADAS market include Robert Bosch (US), ZF Friedrichshafen (Germany), Denso (Japan), Aptiv (UK), Intel (US), NVIDIA (Germany), Continental (Germany), Valeo (France), Hella (Germany), Magna (Canada), Samsung (South Korea), and Hyundai Mobis (South Korea). These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.

Opportunities:
1 The advent of Autonomous Vehicles
2 Rising Demand for Electric Vehicles

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The market has been segmented by vehicle type into passenger cars, light commercial vehicles, buses, and trucks. Passenger car is estimated to be the fastest growing segment of the ADAS, by vehicle type. The number of passenger cars is growing at a significant rate in the emerging economies of the Asia Pacific region. The increasing demand for passenger cars can be attributed to the rise in GDP and population of developing countries, improved lifestyle, increased purchasing power of consumers, and development of infrastructure. ADAS is provided as a standard feature in passenger cars in several countries to prevent fatalities due to accidents. For instance, the European government mandated the installment of LDWSs and AEBSs in trucks and buses in 2015.

The market has been segmented by the system, vehicle type, component, EV, offering, and region. Road sign recognition (RSR) is projected to be the fastest growing segment of this market, by the system. The growth of RSR can be attributed to increasing road infrastructure activity in developed as well as developing economies.

The Asia Pacific region is estimated to dominate the ADAS market, in terms of value, in 2018. The rising disposable income levels, increased vehicle production in developing countries such as India and China, an increase in the number of luxury vehicles in countries such as Japan are expected to fuel the growth of the ADAS in the Asia Pacific region.

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Target Audience:

1. Automobile manufacturers
2. Distributors and suppliers of ADAS
3. Industry associations and automotive experts
4. ADAS manufacturers
5. Automotive component manufacturers
6. Autonomous vehicle software providers
7. Electric vehicle manufacturers
8. Automotive technology providers
9. Tier 1, Tier 2, and Tier 3 suppliers