Advanced Driver Assistance Systems (Adas) Market: Key Players, Applications, Outlook, SWOT Analysis And Forecasts By 2028

The Latest research study released by Premium Market Insights" Advanced Driver Assistance Systems (Adas) Market Size, Industry Share & Trends Analysis Report By 2028" the market is expected to grow from US$ 43,138.44 million in 2021 to US$ 183,814.84 million by 2028; it is estimated to grow at a CAGR of 25.4% from 2021 to 2028. The research study provides estimates for Advanced Driver Assistance Systems (Adas) market Forecasted till 2028. The report also draw attention to factors such as growth opportunity assessment (GOA), customer insights (CI), competitive business intelligence (CBI), and distribution channel assessment (DCA). This market document analyses and evaluates the important industry trends, market size, demand, revenue, market share estimates, and sales volume with which Advanced Driver Assistance Systems (Adas) industry can take a chance of the strategies to increase return on investment (ROI).

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To build an influential Advanced Driver Assistance Systems (Adas) Market report, detailed market analysis has been conducted with the inputs from industry experts. By working on a number of steps for collecting and analysing market data, this supreme market research report is prepared with the expert team. It describes various definitions and segmentation or classifications of the industry, applications of the industry and value chain structure. Businesses can obtain a complete knowhow of general market conditions and tendencies with the information and data involved in the credible Advanced Driver Assistance Systems (Adas) business report. The foremost areas of market analysis such as market definition, market segmentation, competitive analysis and research methodology are looked upon very vigilantly and precisely throughout the report.
Technological breakthroughs, the presence of significant companies, a greater acceptance rate of new technologies, increased manufacturing infrastructure, and improved economic circumstances in the region are driving the growth of the automotive advanced driver assistance systems (ADAS) market. The high prevalence of road accidents and increasing sales of high-end automobiles in the area drive the demand for improved driver safety technologies in countries such as the US and Canada. Thus, the increase in the demand for ADAS systems drives the growth of the automotive advanced driver assistance systems (ADAS) market.

List of Companies Profiled in the Global Advanced Driver Assistance Systems (Adas) Market Report are:
• Continental AG
• Cypress Semiconductor Corporation
• First Sensor AG (TE Connectivity)
• Harman International (Samsung Group)
• Hitachi, Ltd.
• MG Motor India Private Limited
• NVIDIA Corporation
• Robert Bosch GmbH
• Telefonaktiebolaget LM Ericsson
• Vector Informatik GmbH
• …..

Market Dynamics
The automotive advanced driver assistance systems (ADAS) market in North America is spread across the US, Canada, and Mexico. North America has a developed automotive industry due to the continuous production of commercial vehicles. For instance, as per the Organisation Internationale des Constructers d'Automobiles (OICA) 2021 report, the US produced a total of commercial vehicles of 7,604,154 in 2021; 6,895,604 in 2020; and 8,367,239 in 2019. Similarly, Canada produced a total of commercial vehicles 826,767 in 2021; 1,048,942 in 2020; and 1,455,215 in 2019, as per the OICA 2021 report. Also, Mexico produced a total of commercial vehicles of 2,437,411 in 2021; 2,209,121 in 2020; and 2,604,080 in 2019, as per the same report. The US, Canada, and Mexico are leading in the commercial vehicle production segment worldwide, as per OICA statistics. Thus, with the continuous production of commercial vehicles across the region, the need for automotive advanced driver assistance systems is increasing significantly, supporting the growth of the automotive advanced driver assistance systems (ADAS) market in North America. The automotive advanced driver assistance systems (ADAS) market in North America is fragmented, with many major players such as Bosch, Continental AG, and Visteon Corporation.

The automotive advanced driver assistance systems (ADAS) market is rapidly changing, and numerous new technologies will emerge in the coming year to challenge the present ones. To deliver the finest safety features to the driver, ADAS technology firms and automobile manufacturers extend their market presence and strengthen their R&D efforts. For instance, Hyundai Motor Group and Aptiv will form a joint venture in 2020. The JV will work on bringing the SAE Level 4/5 platform to market for rob taxis, fleet operators, and manufacturers. Similarly, BMW launched the 330e and 330e xDrive plug-in hybrids in 2020. Its ADAS incorporates active cruise control with stop and go, which automatically accelerates and slows to maintain the driver's chosen pace. Active guard, frontal collision warning, city collision mitigation, and lane departure warning are standard features. These factors are leading to the automotive advanced driver assistance systems (ADAS) market growth.

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Impact of COVID-19
The COVID-19 pandemic has affected not only the economy and aerospace market of APAC but also altered the customer perspective towards aviation, resulting in a significant decline in air transportation in the region. According to IATA estimates, the airlines in APAC witnessed a revenue decrease of US$ 113 billion in 2020 compared to 2019. This has led to the grounding of a substantial number of aircraft, including the Boeing 747s and Airbus A380s, as the demand for air travel has dwindled and borders have closed. The unprecedented scale of aircraft grounding, which resulted from the decline in passenger demand and bankruptcies, has negatively impacted the Advanced Driver Assistance Systems (Adas) market growth from the demand side. Being one of the principal aerospace manufacturing countries in the region, China encountered severe effects of the pandemic in Q1 and Q2 of 2020. Consequently, the aircraft and aircraft component manufacturing facilities in the country were significantly affected in 2020. The Airbus and Boeing manufacturing facilities in China were closed for a more extended period, which caused a substantial decrease in demand for various components and systems, including engines, ultimately impeding the growth of the Advanced Driver Assistance Systems (Adas) market.

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Impact of COVID-19 Pandemic on Europe Automotive advanced driver assistance systems (ADAS) market
In Europe, despite some challenges arising from the semiconductor shortage, projected to be resolved by the third quarter of 2022, the car industry's forecast for this year is positive. Automotive manufacturing is estimated to grow by ~13% in 2022. With the EU emphasizing making front-facing cameras and radar systems mandatory in all vehicles, as standard equipment, by 2024, the ADAS technology is projected to improve in Europe in 2022. For example, systems such as collision warning indications and electronic stability control are predicted to increase from 83% in 2021 to 100% by 2025. Similarly, restrictions on the automotive vehicle speed regulations will increase from 48% to 100% over the same period. On the other hand, Europe is likely to outperform all other regions in terms of ADAS occurrence by 2025, owing to stronger legislation focusing on vehicle and passenger safety. Although new car registrations in EU and the UK decreased to 11.7 million in 2020, about 25% less than the previous year and the lowest level since 2001; however, electric car sales are growing in numerous European nations. Further, EV sales in Europe continue to break records in 2021 for electric cars, including hybrids, plug-in hybrids, and full-electric vehicles, with a 63% rise to approximately 1.2 million units sold. This is 3.4 times the amount of EVs sold in 2019. EV market share surpassed 10% for the first time, at 10.2%, up from 6.2% in 2020.

Points Covered in Table of Content of Global Advanced Driver Assistance Systems (Adas) Market:
Chapter 01 - Advanced Driver Assistance Systems (Adas) Executive Summary
Chapter 02 - Market Overview
Chapter 03 - Key Success Factors
Chapter 04 - Covid-19 Crisis Analysis on Global Advanced Driver Assistance Systems (Adas) Market

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