(I-BusinessNews.Com, November 05, 2018 ) Advanced driver assistance systems (ADAS) is a technology that aids safe driving and notifies the driver if any risk is detected by the system from the nearby objects. Installing ADAS in vehicles to ensure safety and improve comfort are the key reasons driving the global ADAS market. In addition, dynamic features offered by ADAS include adaptive cruise control, blind spot-detection, drowsiness monitoring, night vision, parking assistance, lane departure warning and tire pressure monitoring. Automotive industry covers the safety of vehicle as well as passenger along with improvement in the design and engine of the vehicle, for its development.
Some of the key players active in this market include Magna International Inc., Autoliv Inc., Ford Motors Co., Robert Bosch GmbH, Valeo, General Motors (GM), Denso Corporation, NXP Semiconductors, BMW AG, Continental AG, and Audi AG among others.
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Thus, the increasing emphasis of consumers on safety coupled with the demand for comfortable driving experience are the factors driving the global ADAS market. In addition, stringent government regulations to install ADAS to ensure passenger safety is further expected to bolster the global ADAS market. However, pricing pressure, difficulty in testing systems, complexity and inflation are some of the factors that hinder the global ADAS market. On the other hand, installation of ADAS in low cost vehicles, electronic content integration and an increase in the number of self-driving cars are the key opportunities for key players operating in the global ADAS market.
North America and Europe dominate the global market for ADAS market. Compulsory implementation of ADAS systems by regulatory agencies is the key reason for growth of ADAS market in North America and Europe. Also, the European automotive industry is leading and most advanced industry in the world. Thus, with the automotive industry transforming rapidly, there is a significant penetration and adoption of ADAS in Europe. However, increasing number of vehicles, changing consumer preferences and rapidly increasing purchasing power are expected to bolster the global ADAS market in Asia Pacific region.
The global ADAS market can be segmented by type into adaptive cruise control (ACC) system, park assist system, blind spot detection (BSD) system, drowsiness monitor system, lane departure warning (LDWS) system, tire pressure monitoring system (TPMS) and others (driver monitoring system, night vision, forward collision warning, HUD). Further, the global ADAS market can be classified by sensor type, namely, ultrasonic sensor, image sensor, radar sensor, laser sensor, IR sensor and LiDAR sensor. In addition, on the basis of regions, the global ADAS market can be bisected into North America, Europe, Asia Pacific, South America, Middle East and Africa.
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ADAS technologies facilitates daily driving tasks by decreasing the stress of driver and providing comfortable driving, thereby further enhancing comfort and luxury and adding safety along with the other benefits. However, cost burdens related with environmental factors and production complications hamper the global ADAS market.
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