Advanced Driver Assistance Systems (ADAS) Market — Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020–2026
Advancement in technology is changing the way cars are designed, developed, customized, sold, serviced, shared and owned. Currently, the automobile industry is witnessing one of the most fundamental shifts in history. Advanced Driver Assistance Systems (ADAS) and autonomous vehicles are one such innovative technology that is driving this shift. In a vehicle, advance driver assistance systems (ADAS) are a set of systems, that include sensors like image, Lidar, radar and computer processors to provide a smart, safe and comfortable driving experience to the users. Advanced Driver Assistance Systems (ADAS) is designed with a safe human-machine interface, these systems are much safer in terms of vehicle and road safety. Most accidents are caused due to human error, so advance driver assistance systems assist to adapt, automate and enhance vehicles for safety and better driving outcome. Advanced Driver Assistance Systems are designed to alert the driver with potential danger and help the driver to remain in control to avoid crashes and reduce the severity if possible. The ADAS features include adaptive cruise control, intelligent park assists, automatic braking, lane departure warning, connect to smartphones, automatic emergency braking, automatic lighting, and alert drivers of other cars when in danger, and others. ADAS provides various advantages such as a decrease in the rate of accidents, reduction in loss of property & life, and others. ADAS technology consists of safety functions that improve the driving experience, by minimizing both motor vehicle accidents and severity.
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Advanced Driver Assistance Systems (ADAS) is becoming a basic part of modern automobiles due to increasing consumer demand for safety, ease, and comfort and is now adopted in passenger cars as well as commercial vehicles. This soaring demand will indeed foster the growth of the ADAS market over the forecast period. Further, stringent safety rules and regulations on vehicle safety features also expected to boost the ADAS market growth. In addition, the introduction of semi-autonomous and autonomous vehicles and the growing demand for luxury vehicles from the developing countries is further expected to propel the market of ADAS in the following years. However, high initial cost and complex structure, lack of required infrastructure and lower efficiency in bad weather conditions are the key restraint that is anticipated to hinder the ADAS market growth.
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Insights Presented in the Report
Based on system type, the market is fragmented into Adaptive Cruise Control (ACC), Intelligent Park Assist (IPA), Automatic Emergency Braking (AEB), Adaptive Front Light (AFL), Blind Spot Detection (BSD), Lane Departure Warning (LDW), Drowsiness Monitor System (DMS), Collision Avoidance System (CAS) and Others. The automotive industry is witnessing a rapid evolution of safety features and ADAS technology helps to improve the driving experience while enhancing the vehicle and pedestrian safety
Based on sensor type, the market is segmented into Image Sensor, LiDAR Sensor, Ultrasonic Sensor, Radar Sensor and Others (Infrared (IR) & Laser Sensor. ADAS technology uses a number of different sensors such as radar, LiDAR (Light detection and ranging), infrared (IR), ultrasonic and image to provide reliable solutions
Based on vehicle type, the market is bifurcated into Passenger Car, Light Commercial Vehicle, Buses, and Trucks. With the rising disposable income levels, the demand for luxury vehicles has increased in developing countries such as India, China, and Japan. This increasing demand for driving safety and comfort are expected to fuel the growth of this market
Based on the distribution channel, the market is bifurcated into OEMs and Aftermarket. With the evolution of technological advancements in the automobile industry, various market leaders have started producing this multifunctional system to get maximum share of the opportunity created by the ADAS market
For better understanding on the market dynamics of advanced driver assistance systems (ADAS) market, detailed analysis was conducted for different countries in the region including North America (United States, Canada and Rest of North America), Europe ( Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), and Rest of the World
Some of the major players operating in the market include Robert Bosch GmbH, Continental AG, Autoliv Inc., Aptiv, Delphi Automotive Company, ZF Friedrichshafen, Denso Corporation, Hella KGAA Hueck & Co, Hyundai Mobis and Texas Instruments Inc. among others
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