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Advanced driver assistance systems (ADAS) facilitates safe driving and warns the driver if the system detects risks from the surrounding objects. Deployment of ADAS in vehicles to enhance comfort and ensure safety on road has emerged as one of the major trends. The system provides dynamic features such as adaptive cruise control, parking assistance, blind spot detection, lane departure warning, drowsiness monitoring, tire pressure monitoring and night vision. The developments in the automotive industry are not only limited to the enhancement in the design or engine but also cover the safety of a vehicle, passenger as well as pedestrian. The growth of the market is driven by increasing focus of consumers on safety, the impending demand for comfort in driving along with a rise in government regulations for ensuring safety. However, factors such as pricing pressure, inflation, complexity and difficulty in testing systems are some of the biggest challenges of this industry. The major trends prevailing in the market are increased electronic content and electronic integration, deployment of ADAS in low-cost cars and a rise in number of driverless cars.
The European automotive industry is one of the largest and most innovative automotive markets in the world. With a massive transformation in the industry, there is rapid market penetration and mass adoption of ADAS amongst customers. There are regular upgrades in the ADAS technology which facilitate competitiveness in the market. Recently, Toyotas R&D labs in Japan, have conceptualized a prototype of the high-definition imaging Light Detection and Ranging (LiDAR) sensor for its ADAS system. This 3D sensor can detect objects up to a range of 100m and operate in adverse weather conditions as well. The company will use this 3D sensor as a part of their ADAS system in their upcoming Toyota vehicles.
Key players in the Advanced Driver Assistance System market are Valeo, Magna International Inc., Robert Bosch GmbH, Autoliv Inc., Continental AG, Denso Corporation, Audi AG, BMW AG, Ford Motors Co. and General Motors (GM). The ADAS market is segmented on the basis of component and geography. Component has been further bifurcated into systems and sensors.
KEY BENEFITS
Key Market SegmentationThe market is segmented on the basis of component and geography.
MARKET BY COMPONENT
MARKET BY GEOGRAPHY
KEY PLAYERS
The Global Advanced Driver Assistance System (ADAS) market, is developing gradually with increasing penetration rate of active safety systems. Europe is the biggest market for ADAS followed by North America, Asia-Pacific countries especially China, Japan and India, and LAMEA. It has been forecast that the market for Advanced Driver Assistance Systems will grow at a CAGR of 22.8% from 2014 - 2020, due to the strong economic conditions, the rising disposable income of the population and supportive government initiatives. Adaptive Front Lighting System and Lane Departure Warning System are the highest revenue generating applications, owing to the ongoing New Car Assessment Program (NCAP) ratings and mandatory government regulations, in developed nations.
Currently, RADAR sensors are used in maximum number of intelligent driving applications such as Adaptive Cruise Control, Park Assist, Blind Spot Detection and Collision Avoidance. It has been estimated that in the coming years ultrasonic sensors would drive the market, due to its cost effectiveness. It would also replace costly sensors such as radar and laser sensors in the near future. In the coming years, multifunctional systems would come into the picture and most of the applications would be run through single technology, which would reduce the price of the vehicles featuring advanced driving applications.
Currently, governments in developed regions, particularly Europe and North America, are mandating and promoting advanced vehicle safety technologies. These technologies are driving the advanced driving assistance market in these regions. Asia-Pacific region is witnessing highest growth especially in countries such as China, Japan and India, due to the increasing purchasing power of the consumers. The adoption is increasing due to other macroeconomic factors, such as rising income and purchasing power, changing lifestyle, demand for comfort driving and increasing awareness about active safety systems.
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