ADAS Market Expected to be Valued at $134.9 billion by 2027, at a CAGR of 20.7%

(IT-NEWSWIRE.COM, September 06, 2019 ) The ADAS Market (advanced driver assistance system) is estimated to be USD 30.0 billion in 2019 and is projected to reach USD 134.9 billion by 2027, at a CAGR of 20.7% during the forecast period.

This technology improves the driving experience while enhancing vehicle and pedestrian safety. It is becoming an integral part of modern automobiles and is now adopted in passenger cars as well as commercial vehicles which are driving the growth of this market. The rising disposable income levels, increased vehicle production in developing countries such as India and China, and increase in the number of luxury vehicles in countries such as Japan are expected to fuel the growth of this market in the Asia Pacific region. However, non-availability of required infrastructure in developing countries is the key restraint for the growth of the market.

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Radar sensor is the fastest-growing segment of the ADAS market, by component

The increased traffic congestion, roadways infrastructure, and government regulations for vehicle safety will drive the growth of various radar-based ADAS applications. The rising trend of autonomous and semi-autonomous vehicles in the automobile industry is projected to be another major driver for the global automotive radar market. The increased traffic congestion, infrastructure roadways, government regulations for vehicle safety, and adoption of automotive radar-based ADAS technology by OEMs has eventually created opportunities for various radar-based ADAS applications.

Road Sign Recognition segment is estimated to be the fastest-growing market during the forecast period

The road sign recognition uses image sensors to recognize the traffic signs such as, “turn ahead,” “speed limit zones,’’ and “no-overtaking,” on the road. The technology was adopted by many automobile manufacturers, such as Volvo, Audi, BMW, Mercedes-Benz, Opel, and Volkswagen. The European road sign recognition market is estimated to be the fastest-growing market, by value, due to the increase in road infrastructure development activities in the region.

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Asia Pacific market is expected to register the fastest growth during the forecast period

The Asia Pacific market is expected to witness the fastest growth, followed by RoW and North America. Increase in luxury vehicle sales and safety concern among consumers would positively impact on this market in the Asia Pacific. Safety regulations are present in a few Asia Pacific countries such as Japan and South Korea, and demand in these countries is anticipated to be on a rise for the next 5 years. Countries such as China, South Korea, and Japan are estimated to come up with the vehicle and road safety regulations regarding the installation of ADAS in vehicles due to the growing population as well as vehicle demand.

Passenger cars are expected to be the largest market during the forecast period

Passenger cars are expected to be the largest market, followed by light commercial vehicles. Owing to the growing demand for safer and more comfortable vehicles. The increasing demand for luxury vehicles is another key driving factor. Governments in developed and developing nations are planning to mandate the ADAS system on PCs. For instance, the European Union has extended the scope of mandating ADAS system as AEB and LDW systems in PCs. This mandate will be assessed by the Commission in the framework of the report foreseen in Article 17 of the General Safety Regulation. Developed countries such as South Korea have mandated the AEB and LDW systems for all new passenger vehicles from January 2019.

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Critical Questions:

• Many companies are operating in the market across the globe. Do you know which are the front leaders and what strategies have been adopted by them?
• The industry is focusing on ADAS platform. Which are the leading companies who are working on the ADAS platform and what organic and inorganic strategies have been adopted by them?
• Analysis of your competition that includes major players in the ADAS ecosystem. The major player includes Robert Bosch (Germany), ZF Friedrichshafen (Germany), Aptiv (UK), Continental (Germany), and Intel (US) among others.
• Discuss on your client’s imperatives based on our existing research on ADAS and its ecosystems.

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Mr. Shelly Singh

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ADAS Market Expected to be Valued at $134.9 billion by 2027, at a CAGR of 20.7%