Advanced Driver Assistance Systems Market Set to Thrive at 12.24% CAGR

Pune, India, September, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Advanced Driver Assistance Systems Market Research Report.

Market Synopsis

Market Research Future (MRFR)’s latest study suggests that the global advanced driver assistance system market is set to expand at a strong CAGR of 12.24% during the forecast period. The market is estimated to grow from USD 9.153 Mn in 2016 to USD 21.921 Mn by 2023. The technological advancements in the automotive sector coupled with early adoption have catapulted the market on an upward trajectory. The trend is likely to perpetuate in the foreseeable future.

The increasing number of road accidents has propelled the adoption of safety features in vehicles. This, in turn, is expected to fuel the growth of the advanced driver assistance systems market over the next couple of years. The safety feature of the technology also benefits the pedestrians, which is anticipated to have a positive influence on the market expansion.

Advanced driver assistance systems are also gaining traction of the market due to enhanced driving experience. Additionally, it offers different features such as automated lighting, automatic brake, incorporates traffic warnings, adaptive cruise control, connection with smartphones, danger alert, etc. These are projected to favor the proliferation of the advanced driver assistance system market over 2023. Other factors responsible for the growth of the advanced driver assistance system market include mandating enforcements by governments, booming automotive sector, increasing disposable income, etc.

Market Segmentation:

By technology, the advanced driver assistance systems market has been segmented into adaptive cruise control, adaptive front lights, intelligent park assist, pedestrian protection, blind spot detection, drowsiness monitor, head up display, and others.

By vehicle type, the global advanced driver assistance systems market is segmented into passenger vehicle and commercial vehicle.

By radar type, the advanced driver assistance systems market has been segmented into radar sensor, lidar sensor, camera sensor, and ultrasonic sensor.

Access Report @ https://www.marketresearchfuture.com/reports/advanced-driver-assistance-systems-market-4434

Regional Insights:

By region, the global advanced driver assistance systems market has been segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. North America is poised to exhibit healthy growth over the assessment period. The surge in demand for automobiles, especially in the U.S., is likely to have a major positive impact on the growth of the regional market. Additionally, the presence of key players coupled with the adoption of advanced technologies makes the market a highly lucrative one. The trend is likely to perpetuate over the next few years.

Europe is projected to thrive at 10.58% CAGR during the forecast period. Delivery of goods and safe transportation are the key areas of focus for the OEMs in the region. It is likely to drive the growth of the advanced driver assistance systems market in the foreseeable future. The U.K, Germany, and France are estimated to account for the maximum share of the regional market.

Asia Pacific is projected to exhibit a positive growth over the assessment period. The accelerated adoption of the advanced driver assistance systems market has augmented the regional market. For instance, Minister of Road Transport and Highways of India has announced that it is planning to make advanced driver assistance system mandatory in future cars by early 2022.

Competitive Dashboard:

Some of the key players profiled in the report include Robert Bosch Automotive Steering GmbH, DENSO CORPORATION, Panasonic Corporation, Delphi Automotive LLP, Valeo, Magna International Inc, HELLA KGaA Hueck & Co., Continental AG, Hitachi Ltd., and ZF Friedrichshafen AG

Industry Developments:

In September 2018, BrainChip, an American company, became the first one to produce spiking neural network architecture – the Akida Neuromorphic System-on-Chip (NSoC). The Akida NSoC is developed for use in edge applications such as drones, advanced driver assistance systems (ADAS), etc.

In September 2018, WABCO Vehicle Control Systems, an American provider of mobility solutions, has inked multiple business deals with companies across Europe, the United States, and the Asia Pacific. The company will provide upgradations to support the OEMs and advanced driver assistance systems.