Advanced Driver Assistance Systems Market Is Expected To Reach USD 21,921 Million By 2023
Global Advanced Driver Assistance Systems Market Information Report by Technology, by Vehicle Type, by Radar Type and by Regions – Global Forecast To 2023
Pune, India – October 5, 2017 /MarketersMedia/ —
Market Highlights:
The market for advanced driver assistance systems is expected to grow in the North American region with an increase in demand for automobiles, majorly in the United States. Existence of major manufacturers in this region combined with availability of sophisticated technologies enables the advanced driver assistance systems market to flourish. In the European region, the commercial vehicles are expected to grow with a CAGR of 10.58%, owing to the growth in the home delivery sector. For the safe distribution of goods and efficient city transportation, original equipment manufacturers in the European region are focusing on the advanced safety features for these vehicles, which will be a major driver for market growth in the region. The U.K, Germany, and France account for a majority of the market share of advanced driver assistance systems in this region. The growth of the Asia-Pacific region can be attributed to the increase in adoption of passenger cars and therefore, the increase in adoption of ADAS in the passenger cars. The recent shift in the preference from mileage to vehicle looks and features is also expected to result in the high demand for advanced driver assistance systems. The global advanced driver assistance systems market is also expected to grow during the forecast period owing to increasing population, rapid industrialization and aggressive expansion of manufacturing sector.
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Global Advanced Driver Assistance Systems Market:
This report includes a study of strategies, of major market players. It includes the product portfolios and developments of leading major players such as Robert Bosch Automotive Steering GmbH, Delphi Automotive LLP, DENSO CORPORATION, Panasonic Corporation, Valeo, Continental AG, Magna International Inc, HELLA KGaA Hueck & Co., Hitachi Ltd,. ZF Friedrichshafen AG. In 2016, these companies accounted for a share of XX% of the global market.
Market Research Analysis:
Advanced driver assistance systems are systems that are developed to increase vehicle safety and enhance the driving experience. Advanced driver assistance are a combination of certain systems that alert the driver to potential problems. Adaptive features include automated lighting, adaptive cruise control, automate braking, incorporate traffic warnings, connect to smartphones, alert driver to other cars or dangers, keep the driver in the correct lane, or show what is in blind spots. Recent stats show that despite 60% less traffic on the roads, more than 40% of all fatal accidents occur during the nights. In the recent times, decreased visibility due to darkness have resulted in alarmingly higher number of accidents. This is where the advanced driver assistance systems (ADAS) come into the picture. The ADAS technology not only focuses on improving the safety of the passengers, but also enable the safety of the pedestrians as well, by distinguishing obstacles using infrared (IR) or ultraviolet (UV) sensors.
The major factor that drives the growth of driver assistance system market is growing demand for new and improved technologies for providing safety features in automobile, increasing purchasing power of buyers, and government initiatives of mandating regulations over usage of driver assistance system into automobiles among others. The Advanced Driver Assistance Systems market is completely dependent on the automotive industry. Thus the increasing or decreasing demand of the automotive industry directly has an impact on the adaptive front light systems market.
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As per MRFR analysis, the global Advanced Driver Assistance market was valued at USD 9.153 million in 2016 which is expected to reach USD 21,921 million by 2023 with a CAGR of 12.24%.
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