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AU_17639
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Pages: 252
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Dec 2017 | 12531 Views
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Author(s) :
Akshay Jadhav & Sonia Mutreja
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Tables: 80
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Charts: 64
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The global ADAS Market was valued at $25,116 million in 2016, and is predicted to reach at $143,051 million by 2025, growing at a CAGR of 21.2% from 2017 to 2025.
An advanced driver assistance system (ADAS) is a set of systems used in vehicles to provide an intelligent and comfortable driving experience. The global advanced driver assistance systems market (ADAS Market) includes all the sensors utilized in applications such as adaptive cruise control, lane departure warning system, park assist, blind spot detection system, adaptive front lighting system, and others. The research titled ADAS market provides details about the manufacturing technologies used for advanced driver assistance systems, applications, and the companies operating worldwide along with their key strategies. Components, such as processor, power, memory, linear, ASIC, and others, have been excluded from the scope of this report titled ADAS market.
Increased focus on consumer safety, impending need for comfort, and rise in government regulations that ensure safety boost the ADAS industry growth. However, factors such as pricing pressure, inflation, and complexity & difficulty in testing systems hamper growth of this industry. Increased electronic content and electronic integration, and deployment of ADAS in low-cost cars are major trends in ADAS market growth.
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The major companies profiled in the ADAS market share include Magna International Inc., Autoliv Inc., Continental AG, Robert Bosch GmbH, Valeo, Denso Corporation, NXP Semiconductor, Panasonic Corporation, Renesas Electronics Corporation, and Texas Instruments.
Segment overview
The ADAS market is segmented based on component type and region. The component types covered include system type and sensor type. The system type segment is sub-divided into tire pressure monitoring system, drowsiness monitor system, intelligent parking assist system, adaptive cruise control system, blind spot object detection system, lane departure warning system, adaptive front-lighting system, and others (night vision system and driver monitoring system), while sensor type includes image sensor, LiDAR sensor, ultrasonic sensor, infrared sensor, RADAR, and LASER. The regions analyzed in this report titled ADAS market are North America, Europe, Asia-Pacific, and LAMEA.
Top Impacting Factors
Surge in safety concerns among people
The demand for advanced driver assistance systems in vehicles has increased at a significant pace over the recent years, and is expected to maintain this trend during the ADAS market forecast period. This is attributed to growth in safety concerns, as the number of road accidents is a constant rise, especially in developing countries. The adoption of advanced driver assistance systems applications, such as adaptive cruise control, blind spot detection system, lane departure warning system, and night vision are leading to reduction in number of accidents. It has been projected that the number of road accidents would increase in developing countries, thereby leading to ADAS market growth in terms of revenue.
Stringent safety rules and regulations
Government initiatives play a vital role in fueling the demand for advanced driver assistance systems applications. Various governments have implemented stringent laws to reduce the number of accidents. According to the New Car Assessment Program’s (NCAP’s) policy, vehicles need to have safety ratings to encourage significant safety improvements in new car designs. Increased focus of the government on road safety is expected to fuel the advanced driver assistance systems market in the future.
Technological advancements in multifunctional system
The multifunctional feature of sensors such as RADAR, LiDAR, ultrasonic, and more is expected to drive the advanced driver assistance systems market. The applications of advanced driver assistance systems are expected to increase considerably by 2020, owing to the rapid growth of the manufacturing sector.
Complexity and high manufacturing cost
The complexity in testing systems and heavy cost of installing advanced driver assistance systems hamper the market growth. Advancements in technology in the near future are expected to reduce the complexity and cost incurred. The use of ultrasonic sensors is expected to reduce the cost of new technologies, which in turn is expected to propel the market.
Technological advancements in advanced driver assistance systems
Cars are being equipped with a plethora of features to increase their sales and provide comfort to consumers. Technological improvements in electronic components, such as computers, smartphones, wireless communication & cloud systems, and others improve safety of consumers. The dynamic advancements in technology, such as intelligent driving that enables cars to autonomously park themselves, stay in lanes without driver assistance, and brake at the sign of danger, have increased their sales. Moreover, the integration of various electronic equipment is expected to provide ample opportunities to market players
Advent of multifunctional systems
In the present scenario, single sensor can perform various functions. For instance, multifunctional cameras feature multiple core functions that enable intelligent driving. These cameras are cheaper, efficient, and easier to integrate as compared to infrared and radar systems. Moreover, multifunctional camera sensors are used in lane departure warning systems and light control. This feature is expected to reduce the cost of vehicles. Thus, the development of multifunctional systems is expected to provide significant opportunities to the advanced driver assistance system providers in the near future.
The global advance driver assistance systems market is expected to witness high growth rate in the future, owing to the rapid growth of the automotive sector.
The use of advanced driving assistance system technology has increased in various applications such as adaptive cruise control system, lane departure warning system, park assist, blind spot detection system, and adaptive front lighting system. This system has gained prominence in China, India, and Japan.
RADAR sensors are as applicable in adaptive cruise control, park assist, and blind spot detection. This segment is anticipated to witness significant decline during the forecast period, owing to the increased adoption of ultrasonic sensors, which are affordable and show multiple functionality.
In current scenario, the regional government plays a vital role in driving the advance driver assistance systems market by implementing safety regulations to reduce traffic-related accidents. Countries in Europe prefer using vehicles with advanced driving systems due to stringent government regulations. Decrease in the prices of sensors technology and rise in demand for ADAS applications drive the global market. Moreover, benefits such as reduced rate of road accidents and enhanced comfort level while driving fuel the demand for ADAS.
The market growth is supplemented by proactive industrialization efforts, increased manufacturing output due to technological advancements, and high standards of living. This would allow the emerging markets to evolve, both from the demand as well as the supply side. Asia-Pacific is expected to witness significant demand for ADAS systems, owing to increase in per capita income of the population. Moreover, the demand for new technologies, such as park assistance, tire pressure monitoring, adaptive cruise control, and drowsiness monitor system, is expected to increase in the near future.
Magna International Inc., Autoliv Inc., Continental AG, Robert Bosch GmbH, Valeo, Denso Corporation, NXP Semiconductor, Panasonic Corporation, Renesas Electronics Corporation, and Texas Instruments are key players that occupy a significant revenue share in the market.
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