Considering an increasing economic development in the automobile and transportation industry, QY Research has recently come up with a new report titled, “Global Advanced Driver Assistance Systems (ADAS) Market Report, History and Forecast 2014-2025,” that studies the analytical depiction of the global (ADAS) Advanced Driver Assistance Systems Market with its present and future market scenario for the assessment period of 2019-2025. The Global Advanced Driver Assistance Systems (ADAS) market is likely to touch the valuation at US$ 58.6 Bn by the end of 2025 from US$ 11 Bn in the year 2018. The ADAS market is growing with a gigantic CAGR of 27.0% throughout the anticipated period.
Global Advanced Driver Assistance Systems (ADAS) Market: Trends and Restraints
Due to increased electronic integration and electronic content, and the installation of ADAS in low-cost cars are some of the major trends that boost the growth of the market in the near future. The advent of technology innovation, as well as the rising trends of self-driving cars and vehicle automation has increased the demand for driver safety and assistance system during the predicted period.
The rising government initiatives in making driver assistance system mandatory in order to reduce road accidents is likely to fuel the growth of the market in the years to come. Some of the factors such as rising spending quality on Research & Development activities and the growing adoption of ADAS in small cars are expected to propel the growth of the global ADAS market over the forecasted period.
However, factors such as inflation, pricing pressure and difficulty and complexity in testing the systems may hamper the growth of the market.
Global Advanced Driver Assistance Systems (ADAS) Market: Forecast by Segmentation
Based on the product type, the market is segmented into Blind Spot Detection, Adaptive Cruise Control (ACC), Park Assist, Lane Departure Warning (LDW) System, and Others. Park Assist Systems segment is likely to lead the global ADAS market in the near future. On the basis of application, the market is segmented into Heavy Commercial Vehicle (HCV), Passenger Car, and Light Commercial Vehicle (LCV).
Global Advanced Driver Assistance Systems (ADAS) Market: Forecast by Geography
Asia Pacific market for advanced driver assistance system is likely to grow at a significant rate due to the increasing purchasing power of the consumer, stringent government regulations, demand for safety vehicles, and the increasing R&D activities. Europe and North America regions are also expected to grow at a remarkable rate due to the adoption of new and innovative technologies in the automobile sector.
Global Advanced Driver Assistance Systems (ADAS) Market: Leading Companies
Some of the key manufacturers that are functioning in the Global Advanced Driver Assistance System market are Mobileye NV, Continental Ag, Trw Automotive Holdings Corp., Delphi Automotive PLC, Denso Corporation, Robert Bosch Gmbh, and Aisin Seiki Co. Ltd.