Advanced features including image sensors, intelligent park assist systems and surround view cameras are prominently contributing towards increasing the advanced driver assistance system market share.
— As per the report by Global Market Insights, Inc., “Worldwide Advanced Driver Assistance System Market was valued USD 32.5 billion in 2018 and will surpass a revenue collection of USD 74.5 billion by 2025 with an annual growth rate of 12% over 2019 to 2025.”
The robust demand for safer vehicles on account of increasing road accidents have led to a massive spurt in advanced driver assistance system market size in recent years. Having recognized the extensive benefits of ADAS systems, numerous automakers have been working toward deploying this feature in their latest automobile brands. This paradigm shift toward implementing safety systems in vehicles on account of the increasing number of road accidents is certain to stimulate ADAS market trends.
In the face of potentially hazardous driving scenarios, autonomous systems have been taking increasing precedence in recent times. Consequently, major players in advanced driver assistance system market are focusing on the development of advanced automated ADAS systems. In order to retain a control over driving, these systems are embedded with features like emergency braking, lane keeping, automatic parking, and adaptive cruise control.
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Automobile industry participants including Volvo, Audi, Mercedes and Skoda are providing in-built safety technologies to differentiate their vehicle portfolio and increase the market share. Advanced features including image sensors, intelligent park assist systems and surround view cameras are prominently contributing towards increasing the advanced driver assistance system market share. Further, the availability for driver assistance to operate complex and repetitive tasks for reducing human errors is providing a strong growth prospects for industry expansion.
The growing vehicle demand owing to the higher per capita income and rising economic conditions is augmenting vehicle production globally. Increasing demand for luxury vehicles with standard fitment of ADAS technologies is strengthening the advanced driver assistance system market share. Industry participants are investing in R&D to reduce the overall cost and increase the operational efficiency significantly. The integration of the advanced technologies will require mass production of automotive systems, which will further reduce the overall cost.
The incorporation of additional features such as machine learning and ADAS vision have even enabled vehicles to adapt themselves to adverse climatic conditions. Numerous advanced driver assistance system market firms have been striving to launch diverse live-saving technologies, which have been instrumental in augmenting the industry trends.
Although ADAS is one of the benchmark features introduced in automotive industry, it has been found that the system is massively prone to cyber-attacks. Therefore, numerous advanced driver assistance system market giants have been continuously working on LIDAR and Radar sensors to control cybersecurity threats. Tech companies are playing their part in eliminating security issues as well and have been found developing advanced solutions to improve security measures in ADAS systems.
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Europe will account for a significant share over the projected timeframe owing to the supporting government initiatives including EuroNCAP, promoting the mandatory fitment of active safety features in automobiles. Moreover, the fitment of multiple ADAS systems in vehicles including drowsiness and attention detection, lane keeping assist, emergency stop signal, reversing camera, and detection system, among others by 2021 will further support industry expansion over the forecast timeframe.
The advanced driver assistance system market share is highly competitive owing to the presence of key players including Bosch Group, Texas Instruments, Autoliv AB, Continental AG, and ZF TRW. The other players include Aisin Seiki Co. Ltd., Delphi Technologies, Denso Corporation, Joyson, and Harman International. Improvements in product design, configuration, and after-sales services are the major concerning areas for industry players.
Glimpse of Table of Content (ToC)
Chapter 3. Advanced Driver Assistance System (ADAS) Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2025
3.3. Industry ecosystem analysis
3.3.1. Raw material suppliers
3.3.3. Profit margin trends
3.3.4. Distribution channel analysis
188.8.131.52. End Users
3.3.5. Vendor matrix
3.4. Accidents and fatalities statistics, by region
3.4.1. North America
3.4.3. Asia Pacific
3.5. ADAS industry trends
3.5.1. Embedded vision
3.5.4. Automotive Systems Infrastructure
3.5.5. Automotive HMI design
3.6. Pricing trends, by region
3.6.1. Regional Pricing
184.108.40.206. North America
3.6.2. Cost structure analysis
3.7. Technology landscape
3.8. Global automotive production overview, 2014 - 2018
3.9. Regulatory landscape
3.9.1. North America
3.9.3. Asia Pacific
3.9.4. Latin America
3.9.5. Middle East & Africa
3.10. Industry best practices & key buying criteria
3.11. Industry impact forces
3.11.1. Growth drivers
220.127.116.11. North America
18.104.22.168. Asia Pacific
22.214.171.124. Latin America
126.96.36.199. Middle East & Africa
3.11.2. Industry pitfalls & challenges
3.12. Innovation and sustainability
3.13. Growth potential analysis, 2018
3.14. Porter’s analysis
3.15. Competitive landscape, 2018
3.15.1. Company market share analysis
3.15.2. Strategy dashboard
3.16. PESTLE analysis
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