Advance Driver Assistance Systems Market to strike Over US $91 Billion by 2026 End

  • 08 May 2019

Fatal road accidents caused due to human error and driving fatigue continue to result in high morbidity across the world. The demand for safe, reliable, efficient and convenient driving is being fairly addressed by technological advancement in the automotive sector. The stringent traffic and vehicle road safety regulations by the government is broadly impacting the need for advanced driver assistance systems(ADAS). Increase in connectivity with smart devices, GPS systems and automated alert systems is changing the overall driving experience. Besides, the projections for the ubiquitous availability of autonomous vehicles for passenger and commercial transportation in approximately the next 5 years is driving the advanced driver assistance systems market at a breath-taking pace.

The global advance driver assistance systems market is estimated to report a CAGR of 20.1% from 2019 to 2026 with a total market value of over US $91 billion by 2026 end.

Major Market Restraints and Road Blockers
•    The high cost and absence of infrastructure to support ADAS in emerging countries
•    Complex features that are prone to failures due to software programming drawbacks
•    Cybersecurity issues due to high connectivity with unsecured networks
•    Environmental landscape and weather-related challenges
•    Conjoint interferences between various frequencies that affect sensor system capabilities

Global Advance Driver Assistance Systems Market, by Component
> Systems  
 - Tire pressure monitoring system (TPMS) 
- Drowsiness monitor system (DMS)
- Adaptive front-lighting system (AFL)
- Lane departure warning system (LDWS)
- Intelligent parking assist system (IPAS) 
- Adaptive cruise control system (ACC)
- Blind spot object detection system (BSD)
- Others (night vision system and driver monitoring system)
> Sensors 
- Radar sensor
- Image sensor
- Ultrasonic sensor 
- Lidar sensor
- Infrared (IR) sensor
Radar sensors are widely employed in the ADAS currently along with image sensors. The automotive manufacturers are investing immensely in the development of novel technologies using LIDAR sensors due to proven collision avoidance assistance. Hence LIDAR sensor is estimated to lead the sensors segmentation in years to come.

Global Advance Driver Assistance Systems Market, by Region
•    North America
•    Latin America
•    Europe
•    Asia Pacific
•    Rest of the World

Presence of major vehicle manufacturing brands, rise in demand for luxury vehicles, improved buying capacity and higher vehicle production rate are factors amplifying the growth of the market in APAC region.

Competitive Landscape:  
•    Tier 1 players- established companies in the market with a major market share
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants  

FutureWise Key Takeaways: 
•    Growth prospects
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth 

Objectives of the Study: 
•    To provide with an exhaustive analysis on the global advance driver assistance systems on the basis of component and region
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies  


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