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Global Advanced Driver Assistance Systems (ADAS) Market is Projected to Reach US$ 56 Bn by 2023

Author: QYResearch | Publish date: 2018-08-20 | Views: 49
QYR forecast the global Automotive ADAS market to reach 56 billion USD by 2023 from 15 Billion USD in 2017, growing at a CAGR of 26.98% between 2017 and 2023. There is a rising demand for passenger car applications. Moreover, the popularity of ADAS system in family car creating a huge demand for Automotive ADAS worldwide. The major factors driving the growth of the Automotive ADAS market further include the promotion of government policy and the increasing consumer demand for safety.

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Parking Assist Systems is expected to lead the global ADAS market. In 2015, parking assist systems held the largest share in the market owing to the development of the partial and fully autonomous cars. This system helps the driver to safely park the cars in the exhaustive and challenging situation by giving a full perspective of the vehicle back side including the blind spots. From the one that would help demonstrate the driver of any possible collisions while parking, park assist systems have evolved into one what would park the vehicle without any intervention from the driver’s side. Ford Global Technologies and Bosch are the major players that own most of the patents related to the park assist technology.



Parking Assist Systems is expected to lead the global ADAS market. In 2015, parking assist systems held the largest share in the market owing to the development of the partial and fully autonomous cars. This system helps the driver to safely park the cars in the exhaustive and challenging situation by giving a full perspective of the vehicle back side including the blind spots. From the one that would help demonstrate the driver of any possible collisions while parking, park assist systems have evolved into one what would park the vehicle without any intervention from the driver’s side. Ford Global Technologies and Bosch are the major players that own most of the patents related to the park assist technology.


The demand for luxury vehicles, increased adoption from the automotive sector, stringent government regulations and accelerating the need for road safety systems are the major drivers for the market growth. Conversely, factors inhibiting the market growth software failure in sensors, the high cost of the equipment and intensive competition.


Click to view the full report TOC, figure and tables

https://www.qyresearch.com/index/detail/540563/global-automotive-adas-advanced-driver-assistance-systems-adas-industry-research-china-market


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