China and India are forecasted to be the lucrative markets for advanced driver assistance systems. Tire pressure monitoring system would be the fastest growing market with an expected CAGR of about 38.8% during the forecast period (2015-2020).
Portland, OR -- (SBWIRE) -- 09/27/2017 -- Asia-Pacific Advanced Driver Assistance System Market is expected to garner $15.5 billion by 2020, registering a CAGR of 31.3% during the forecast period 2015-2020.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.
Growth in the Asia-Pacific advanced driver assistance systems market is fostered by the increasing penetration of active safety systems, especially, in regions like China, Japan and India. The rise in purchasing power of the consumers, increasing focus on safety, rising demand for comfort driving and the stringent safety regulations imposed by different governments, are key factors that fuel the growth of the market. A prominent rise in the adoption of ADAS applications among automotive manufacturers has significantly boosted the market for advanced driving assistance systems in the region.
However, the high cost associated with installing applications in vehicles may act as a restraint for the ADAS market. Moreover, testing and validating systems are the most challenging functions within the ADAS development, especially for vision systems.
Key Findings of Asia-Pacific Advanced Driver Assistance System Market:
- The Asia-Pacific ADAS market would grow at a promising rate across the countries like China, India and Japan, during the forecast period (2015-2020)
- The cost effectiveness of the sensor and adoption in multiple applications would drive the growth for Ultrasonic sensors at a fastest CAGR during 2015-2020
- Tire Pressure Monitoring would grow at the fastest CAGR of 38.8% during the forecast period (2015 - 2020) owing to cost effectiveness of the application and its feature of being replaceable
- Increasing purchasing power and supportive government initiatives would foretell remarkable growth for Asia-Pacific market
The report also outlines the competitive environment of the Asia-Pacific advanced driver assistance systems market, providing a comprehensive study of the key organic and inorganic strategies adopted by market leaders. The top market players in the Asia-Pacific market are adopting different strategies such as product launch and technological advancements, in an effort to gain the competitive edge over the rest. The key players in the industry such as Continental AG, Robert Bosch GmbH, Hitachi Ltd. are conceptualizing products equipped with various ADAS applications. Major companies profiled in the report are Denso Corporation, Valeo, Robert Bosch GmbH, Continental AG, Hitachi Ltd., BMW AG, AUDI AG, Toyota Motor Corporation, Ford Motors Co. and General Motors.
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