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Advanced Driver Assistance Systems Market to
grow at over 13% CAGR from 2017 to 2024: Global
Market Insights, Inc.
The Latest Research Report on “Advanced Driver Assistance Systems (ADAS)
Market”, ADAS market from image sensors is expected to showcase dominance,
accounting for over 33% revenue share over the next eight years. These sensors are
installed in majority of the technologies including surround view, night vision, lane
departure warning, blind spot detection, etc., primarily contributing to the revenue
generation. These applications are rapidly growing across the globe, resulting in
increased demand for image sensors. Cost effectiveness as compared to the
counterparts is another factor supporting the industry dominance. Radar sensors will
witness highest growth owing to their extensive usage in AEB and adaptive cruise
control systems. Advanced Driver Assistance System (ADAS) Market size is
estimated to surpass USD 65 billion by 2024; according to a new research report by
Global Market Insights, Inc.
PCV will dominate the ADAS market, accounting for over 65% volume share by the
end of 2024. Rising road safety concerns has led to their increased installation in
these vehicles. Rising demand for ADAS installation in vehicles owing to increasing
concerns regarding driver safety will significantly contribute towards the revenue
generation. Moreover, substantial rise in the sales of premium vehicles across the
globe will further strengthen the product penetration. HCVs are likely to grow
substantially owing to stringent regulations regarding ADAS installation in these
vehicles in developed regions such as Europe.
Rising concerns for traffic safety along with stringent regulatory norms regarding
deployment of these systems will primarily drive the growth of ADAS market over the
forecast timeframe. Various developed regions across the globe including Europe
and North America have mandated their installation in vehicles for ensuring overall
safety, escalating the revenue generation. For instance, in July 2010, EU, the
installation of ADAS is mandatory as per the Directive 2010/40/EU.
Park assist is likely to dominate the ADAS market, exhibiting over 16% volume share
till 2024. These systems have witnessed strong prevalence in the industry since past
few years. Moreover, their low prices as compared to the counterparts has resulted
in their high implementation by the customers, supporting the revenue generation.
Cost effectiveness also leads to their aftermarket adoption by small and medium car
owners. Forward collision warning will grow rapidly owing to their rising installation in
commercial and passenger vehicles. High installation is credited to rising number of
accidents and fatalities across the globe.
U.S. Advanced Driver Assistance System (ADAS) Market, By Sensor, 2016 &
2024, (Thousand Units)
Browse key industry insights spread across 350 pages with 727 market data tables &
10 figures & charts from the report, “ADAS Market Size By Technology (Adaptive
Cruise Control, Automatic High Beam Control, Autonomous Park Assist, Blind
Spot Detection, Driver Monitoring, Forward Collision Warning, Front Lighting,
AEB, Night Vision, Head Up Display, Lane Departure Warning, Park Assist,
Surround View System, Traffic Sign Recognition, Tire Pressure Monitoring
System), By Sensor (LiDAR, Infrared, Ultrasonic, RADAR, Image Sensor), By
Vehicle (PCV, LCV, HCV), By Distribution Channel (OEM, Aftermarket), Industry
Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy,
Spain, Russia, Poland, China, Japan, India, South Korea, Australia, Brazil,
Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price
Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with
the table of contents:
Several countries including Japan and China are witnessing high demand for these
systems, especially from compact cars, impacting the ADAS market positively. They
are also increasingly being installed in premium and luxury vehicles, resulting in
rising product adoption. Manufacturers are continuously shifting their focus towards
usage of image sensors owing to their benefits such as high pixel quality. These
benefits are likely to further strengthen the demand from several applications
including surround view systems, autonomous park assist, and blind spot detection.
However, excessive costs coupled with rising software failure incidences may
hamper the ADAS market growth over the forecast timeframe.
The industry is witnessing regular technological advancements, resulting in rising
inclination of the customers towards these enhanced systems. CMOS image sensor
is an innovation that has gained prominence among the ADAS market players.
These sensors comprise of digitized, noise correction circuits and amplifiers,
resulting in accurate rear-view images. High efficiency under extreme temperatures
is another benefit that results in high preference towards these sensors. These
advancements are anticipated to induce immense potential to the industry size till
ADAS market from OEMs will dominate the industry share over the forecast
timeframe owing to their installation during the production process. The OEMs
ensure proper maintenance of the product safety standards. This results in their high
preference as compared to the counterpart, supporting the industry dominance.
Aftermarket will grow significantly owing to cost-effective nature of the products
through this channel. Rising accident rate across the globe will further increase the
replacement demand for these products, propelling the industry growth over the
North America ADAS market is expected to acquire maximum volume share of more
than 34% over the next eight years. Rising number of testing procedures for these
technologies along with established automobile industry in the region will primarily
contribute to the high revenue generation. Higher penetration of ADAS and stringent
regulatory norms regarding their mandatory installation will further support the
regional dominance. Asia Pacific will grow rapidly, exhibiting over 14.5% CAGR from
2017 to 2024. Rising traffic safety concerns and increasing demand from countries
including Japan, China, and South Korea will further strengthen the industry
penetration in the region.
Denso, Delphi Automotive, Continental, Autoliv, Bosch, Harman International,
Mobileye N.V., TRW Automotive, Nvidia Corporation, and Hyundai Mobis are among
the noticeable players in the ADAS market. Partnerships and mergers & acquisitions
are few strategies majorly adopted by the industry participants. For instance, in June
2017, Autoliv announced its partnership with Volvo to form a joint venture, Zenuity
for development of autonomous cars. This partnership further strengthened
company’s position in the industry.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for
key industries such as chemicals, advanced materials, technology, renewable
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