Press release
Advanced Driver-Assistance Systems (ADAS) Market: Research Report Overview by Industry Size, Share, Trends, Growth & Leading Players (2021-2026)
Advanced Driver-Assistance Systems Market
As per the research report, Global Advanced Driver-Assistance Systems Market is expected to reach the market valuation of US$ 72.9 billion by 2026 expanding at a reasonable CAGR of 15.9% during the forecast period (2021-2026) from US$ 32.4 billion in 2019. Advanced Driver Assistance Systems (ADAS) focus on the reduction of road accidents and the associated casualties by helping drivers avoid collisions altogether. These systems react faster than any human, are constantly vigilant, and are already being adopted and deployed across various car segments, from premium to economy models. ADAS systems constantly monitor the vehicle surroundings, alert the driver of hazardous road conditions, and take corrective actions, such as slowing or stopping the vehicle.
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The demand for advanced driver-assistance systems (ADAS) that help with monitoring, warning, braking, and steering tasks is anticipated to increase soon, fueled largely by regulatory and consumer interest in safety applications that protect drivers and reduce accidents. For instance, both the European Union and the United States are mandating that all vehicles be equipped with autonomous emergency-braking systems and forward-collision warning systems by 2020.
Various semiconductor companies that have not traditionally participated in the automotive sector now offer ADAS products or are developing them. Automakers have devised their own branded technology names which, for example, has resulted in twenty unique names for adaptive cruise control and nineteen different names for lane keeping assistance. In addition to being widely available, the costs of driver assistance features are relatively affordable. For instance, the average price of Adaptive Cruise Control is US$ 1,174 as a stand-alone feature and US$ 2,283 in an ADAS bundle. The cost of an ADAS bundle is around US$ 1,950 on average according to SBD data. The average new vehicle cost for December 2017, as reported by Kelley Blue Book, was US$ 36,113. This makes the cost of an ADAS bundle approximately 5.4% of the total cost of the vehicle. The common ADAS features such as Adaptive Cruise Control, Blind Spot Warning, and Automatic Emergency Braking are available in at least 80% of vehicles in each of the Midsize, Large, and SUV vehicle segments. Lane Keeping Assistance is available in at least 60% of vehicles within 7 of 10 vehicle segments. These features are becoming standard equipment on many vehicles. For example, Automatic Emergency Braking is standard on 30.6% of all models, Lane Keeping Assistance on 13.9%, and Adaptive Cruise Control on 11.8%.
For a detailed analysis of the technologies in Advanced Driver-Assistance Systems Market browse through - https://univdatos.com/report/advanced-driver-assistance-systems-adas-market-current-analysis-and-forecast-2020-2026
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 are some of the prominent players operating in the global Advanced Driver-Assistance Systems market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst system type, adaptive cruise control segment holds the major share”
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) and others. The intelligent park assist segment dominated the market with a share of 27.4% in 2019 and is expected to maintain its dominance during the forecast period owing to the increased consumer preference towards comfort and luxury, and increased competition between OEMs to offer such driver assistance features.
“Amongst sensor type, image sensor is expected to dominate the market during the analyzed period”
Based on the market segment by sensor type, the market is segmented into Image Sensor, LiDAR Sensor, Ultrasonic Sensor, Radar Sensor and others. In 2019, Image sensor accounted for 35.9% of market revenue share. Currently, image sensor dominated the Advanced Driver-Assistance Systems market and is expected to remain dominant during the analyzed period. The image sensors provide enhanced safety features on the road by offering features such as parking assistance, lane departure warnings, and collision avoidance systems.
For a detailed analysis of the system types in Advanced Driver-Assistance Systems Market browse through - https://univdatos.com/report/advanced-driver-assistance-systems-adas-market-current-analysis-and-forecast-2020-2026
“Amongst vehicle type, passenger vehicles are expected to dominate the market during the analyzed period”
Based on the market segment by vehicle type, the market is fragmented into passenger cars, light commercial vehicles and heavy commercial vehicle. In 2019, the passenger vehicles accounted for the maximum market share with 52.8% and is expected to be the leading segment of the Advanced Driver-Assistance Systems market during the forecast period. The new in-vehicle technologies under development have the potential to increase as well as decrease crash injury risk by introducing driver distraction and inadvertent behavioral change. The common ADAS features are available in at least 60-80% of vehicles in various midsize, large, and SUV vehicle segments.
“Amongst distribution channel, OEMs are expected to dominate the market during the analyzed period”
Based on the market segment by distribution channel, the market is fragmented into OEMs and aftermarket. In 2019, the OEMs accounted for the maximum market share with 79.1% and is anticipated to lead throughout the forecast period. The automotive companies are now developing new vehicles, electric powertrains, autonomous technologies and advanced safety systems at an unprecedented rate. The original-equipment manufacturers (OEMs) and their suppliers realize that they could eventually become the main feature differentiating automotive brands, as well as one of their most important revenue sources.
“North America represents one of the largest markets of Advanced Driver-Assistance Systems market”
For a better understanding of the market dynamics of the Advanced Driver-Assistance Systems market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of APAC) and Rest of the World has been conducted. Europe dominated the market and generated revenue of US$ 11.3 billion in 2019. The market growth prospects are attributed to the presence of the world’s biggest automotive producers across the world. However, the APAC region is expected to witness the highest CAGR growth of 18.52% during the forecast period 2021-2026.
Customization Options:
The Advanced Driver-Assistance Systems Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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UnivDatos Market Insights (UMI), is a passionate market research firm and a subsidiary of Universal Data Solutions. Rigorous secondary and primary research on the market is our USP, hence information presented in our reports is based on facts and realistic assumptions. We have worked with 200+ global clients, including some of the fortune 500 companies. Our clientele praises us for quality of insights, In-depth analysis, custom research abilities and detailed market segmentation.
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