Advanced Driver-Assistance System (ADAS) Market - Forecasts from 2018 to 2023
Advanced Driver-Assistance System (ADAS) market was valued at US$XX billion in 2017 and is projected to expand at a CAGR of XX.XX% over the forecast period to reach US$XX billion by 2023. Rising number of global road accidents has forced the governments worldwide to take necessary measures for the drivers’ safety. According to the World Health Organization (WHO), more than 1.25 million people die each year due to road traffic crashes. Government initiatives and policies regarding the mandatory use of driver assistance system and advanced braking system in passenger cars is proliferating the growth of ADAS market. In September 2017, the U.S. Department of Transportation and the National Highway Traffic Safety Administration (NHTSA) released new federal guidance for automated driving systems (ADS) to industry and States, supporting further development of the technology. The safe deployment of automated vehicle technologies will lead to fewer traffic fatalities, thus positively impacting the growth of ADAS market throughout the forecast period. Rising level of technological innovation and growing investments in vehicle automation and self-driving cars is another major driver of global ADAS market.
By solution, ADAS market is segmented as adaptive cruise control, parking assistance, blind spot detection system, collision warning and braking system, and others. The share of adaptive cruise control segment will grow at a significant rate during the forecast period as it provides much better driver’s safety while avoiding fatal road accidents.
By sensor type, the ADAS market is segmented as radar sensors, LiDAR sensors, ultrasonic sensors, imaging sensors, and others. LiDAR sensors for ADAS will witness a significant CAGR between 2017 and 2023 on account of rising investments in LiDAR technology for developing fully autonomous cars, especially in developed economies.
Geographically, Europe dominated the global ADAS market in 2017 owing to stringent regulations regarding driver’s safety coupled with high investments in ADAS by global automakers. European Union has mandated the automotive manufacturers to fit ADAS systems such as autonomous emergency braking systems (AEBS) and lane departure warning systems (LDWS) in all heavy commercial vehicles weighing over 7,000 Kilograms.
Major industry players profiled as part of the report are Robert Bosch GmbH, Continental AG, Aptiv, Valeo, and Autoliv Inc. among others.
The Advanced Driver-Assistance System (ADAS) market is segmented by solution, sensor type, vehicle type, and geography.
Adaptive Cruise Control
Blind Spot Detection System
Collision Warning and Braking System
By Sensor Type
By Vehicle Type
Light Commercial Vehicle
Heavy Commercial Vehicle
Middle East and Africa
Key Questions answered by the report
What is the Advanced Driver-Assistance System (ADAS) market size from 2018 to 2023?
How are the major drivers and restraints affecting the Advanced Driver-Assistance System (ADAS) market and the opportunities which exist for the key vendors?
Which segment and region will drive or lead the market growth and why?
A comprehensive analysis of competitive landscape and key market participants behaviour
Key strategies being adopted by vendors, with in-depth analysis of their impact on competition and market growth.
Robert Bosch GmbH
Magna International Inc
HELLA GmbH & Co. KGaA