Press release
Advanced driver-assistance system market to grow between 2017 and 2023
The rise in the number of road accidents worldwide is increasing the adoption of ADAS across the global automotive sector which is the major driver of the ADAS market. Governments and international organizations are also encouraging automotive manufacturers to deploy various ADAS solutions such as anti-braking system (ABS) by way of favorable policies, initiatives, and funding for R&D. This is also positively impacting the growth of the ADAS market. However, ADAS makes cars more complex which results in the need for additional workforce training and specialist equipment, thus increasing the overall repair costs. This factor is restraining the growth of the ADAS market. Stringent regulations making some of the ADAS solutions mandatory will continue to bolster the growth of the ADAS market during the forecast period.
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Radar Sensors hold significant market share
Key applications of radar sensors in ADAS include blind spot monitoring, collision warning and mitigation, and object detection. In order to reduce the number of road accidents, automotive manufacturers are increasingly using radar sensors to provide reliable and accurate details of the vehicle’s surroundings while assisting drivers to manage potential on-road hazards in case of poor vision or visibility conditions.
Europe dominates the global ADAS market
European ADAS market is projected to dominate the global ADAS market during the forecast period owing to strict and mandatory regulations to deploy ADAS solutions in all types of vehicles. High investments in autonomous vehicles and connected vehicles in countries like Germany and UK are also escalating the growth of ADAS marker across the region.
This report also includes a study of strategies and product portfolios of some of the leading companies in the ADAS market. It consists of company profiles of the leading companies- Robert Bosch GmbH, Continental AG, Aptiv, Valeo, Autoliv, Inc., DENSO CORPORATION, Magna International Inc, HELLA GmbH & Co. KGaA, Tesla, and Mobileye.
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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