-- Advanced Driver Assistance Systems Market Valuation to Reach USD 21.921 Million by 2023. Advanced Driver Assistance Systems Market Analysis by Technology (Adaptive Cruise Control, Adaptive Front Lights, Intelligent Park Assist, Pedestrian Protection, Blind Spot Detection, Drowsiness Monitor, Head Up Display, Others), by Vehicle Type (Passenger Vehicle and Commercial Vehicle), by Radar Type (Radar Sensor, Lidar Sensor, Camera Sensor, Ultrasonic Sensor) and by Regions (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America) - Global Industry Forecast To 2023.Increasing Advancements in the Automotive Sector Slated to Push the Advanced Driver Assistance Systems Market.
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The global advanced driver assistance systems market hosts a number of key players. This includes names such as Valeo, Magna International Inc, Robert Bosch Automotive Steering GmbH, Delphi Automotive LLP, HELLA KGaA Hueck & Co., Continental AG, Hitachi Ltd., ZF Friedrichshafen AG, Denso Corporation, Panasonic Corporation, and others.
The global advanced driver assistance system market was analyzed and studied by the team of Market Research Future (MRFR) to gain an accurate overview of the market. The study was released in the form of a report, wherein it was mentioned that the global market is expected to garner a compound annual growth rate of 12.24% during the forecast period. The report further states that the market is expected to jump from its previous valuation of USD 9.153 million in 2016 to USD 21.921 million by the end of the forecast period in 2023.
The varying advancements in tech in the automotive landscape combined with the fast-paced adoption of the same has pushed the growth of the market towards an upward growth trajectory. The trend is most likely to continue in the coming years as reported by MRFR. The increasing instances of road accidents has prompted manufacturers and consumers to take steps in adopting various safety features in their vehicles. This is, in turn, expected to drastically increase the growth of the market in the next few years. Some of the other factors responsible for the notable growth of the advanced driver assistance systems market are the booming automotive industry, government initiatives undertaken in favor of the safety of vehicles, and the increasing disposable income of the consumers.
Regional Analysis
The global advanced driver assistance systems market is regionally segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa.
The global market is projected to grow during the forecast period in considerable fashion. The North American region holds the highest share in the global market and is expected to grow further soon. The regional market is primarily contributed by the United States of America. The presence of various major manufacturers herein coupled with the availability of advanced and sophisticated technologies allows the market to flourish further in North America.
The European region is another major market and is projected to grow at a notable pace of 10.58% during the forecast period due to the rising home delivery landscape. The original equipment manufacturers (OEMs) of Europe are laying considerable focus on the safety features of their vehicles to ensure the safe and secure distribution of goods and effective city transportation. This is expected to be a major growth driver of the market in this region. Countries like Germany, France, and the UK hold a significant portion of the market share and contribute to the overall welfare herein.
The Asia Pacific region is another key market area wherein the increasing adoption of passenger vehicles are aiding its growth. The recent shift in preference among the consumers from mileage to vehicle looks, features, and specifications is also anticipated to result in the proliferating demand for the advanced driver assistance systems. Furthermore, the market in Asia Pacific is also projected to grow due to the rapid industrialization, increasing population base, and an aggressive expansion of the manufacturing industry.
Market Segmentation
The global advanced driver assistance systems market segments into the following categories for the convenience of understanding: technology, radar type, and technology.
By technology, the market comprises adaptive front lights, adaptive cruise control, blond spot detection, pedestrian protection, intelligent part assist, head-up display, drowsiness monitor, adaptive front lights, and others.
By vehicle type, the market divides into passenger and commercial vehicles.
By radar type, the market breaks down into camera sensor, radar sensor, LIDAR sensor, and ultrasonic sensor.
Competitive Landscape
May 16th, 2019, Nissan announced the launch of a much more advanced driver assistance feature through its Nissan ProPilot 2.0 in the Japanese market. The product is much more advanced and technologically sound.
List of Tables:
TABLE 1 GLOBAL ADVANCED DRIVER ASSISTANCE SYSTEMS MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 34
TABLE 2 GLOBAL ADVANCED DRIVER ASSISTANCE SYSTEMS MARKET, BY VEHICLE TYPE, 2015-2023 (USD MILLION) 37
TABLE 3 GLOBAL ADVANCED DRIVER ASSISTANCE SYSTEMS MARKET, BY VEHICLE TYPE, 2015-2023 (USD MILLION) 40
TABLE 4 GLOBAL ADVANCED DRIVER ASSISTANCE SYSTEMS MARKET, BY REGION, 2015-2023 (USD MILLION) 43
TABLE 5 NORTH AMERICA: ADVANCED DRIVER ASSISTANCE SYSTEMS MARKET, BY COUNTRY, 2015-2023 (USD MILLION) 44
TABLE 6 NORTH AMERICA: ADVANCED DRIVER ASSISTANCE SYSTEMS MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 45
TABLE 7 NORTH AMERICA: ADVANCED DRIVER ASSISTANCE SYSTEMS MARKET, BY VEHICLE TYPE, 2015-2023 (USD MILLION) 46
Continued…
List of Figures:
FIGURE 1 KEY TAKEAWAYS OF THE MARKET 15
FIGURE 2 KEY BUYING CRITERIA OF ADVANCED DRIVER ASSISTANCES 15
FIGURE 3 RESEARCH PROCESS OF MRFR 17
FIGURE 4 TOP DOWN & BOTTOM UP APPROACH 19
FIGURE 5 PORTER'S FIVE FORCES ANALYSIS OF GLOBAL ADVANCED DRIVER ASSISTANCE MARKET 21
FIGURE 6 SUPPLY CHAIN: ADVANCED DRIVER ASSISTANCE SYSTEMS 23
FIGURE 7 GRANTED PATENTS ON ADVANCED DRIVER ASSISTANCE SYSTEMS (SEPTEMBER 26TH, 2012 – SEPTEMBER 26TH, 2017) 24
FIGURE 8 GLOBAL VEHICLE PRODUCTION, UNITS (2013-2016) 27
FIGURE 9 GLOBAL ADVANCED DRIVER ASSISTANCE SYSTEMS MARKET, BY TECHNOLOGY, 2016 (% SHARE) 33
FIGURE 10 GLOBAL ADVANCED DRIVER ASSISTANCE SYSTEMS MARKET, BY TECHNOLOGY, 2015-2023 (USD MILLION) 34
Continued…
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