The Global Advanced Driver Assistance Systems (ADAS) Market was valued at $19.8 billion in 2017 and is anticipated to grow at a CAGR of 21.4% during the forecast period.
Advanced Driver Assistance Systems offer improved passenger experience, comfort, and safety to vehicles and drivers. Integration of advanced driver assistance systems into vehicles enable enhanced situational awareness and control for easier and safer driving experience. Some components enabling efficient functioning of Advanced Driver Assistance Systems include LiDAR, sensors, radar systems, artificial intelligence software, and GPS among others.
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The demand for Advanced Driver Assistance Systems or ADAS has increased over the years owing to rising concerns regarding road safety, and growing incidents of road accidents. Growing penetration of connected cars, and rising adoption of IOT further boosts the market growth. The increasing advancements in technologies, growing adoption of electric vehicles, and rising investments in R&D and technological innovation further supplement the growth of this market. Increasing demand for luxury vehicles, and rising development of autonomous vehicles are factors expected to offer numerous growth opportunities during the forecast period.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Advanced Driver Assistance Systems Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
North America generated the highest revenue in 2017 owing to increasing incidents of road accidents and growing safety concerns. High disposable income, and improved living standards in the region support market growth. Technological advancements in the region, along with presence of leading market players is expected to boost the adoption of Advanced Driver Assistance Systems in North America.
Competitive Landscape and Key Vendors
The global Advanced Driver Assistance Systems market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies profiled in the report include Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, Continental AG, Intel Corporation, Texas Instruments, Valeo S.A., Magna International, Inc., Autoliv Inc., and Garmin Ltd.
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