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  • Advanced Driver Assistance Systems Market |Market Share|Global Industry Insights|Market Forecast to 2026

    (I-SoftwareNews.Com, October 25, 2019 ) Market Overview

    • Advanced driver-assistance systems (ADAS) are electronic frameworks that guide a vehicle driver while driving. At the point when structured with a safe human-machine interface, they are expected to build vehicle safety and generally road security. Most road accidents occur because of human blunders. Advanced driver-assistance systems are frameworks created to robotize, adjust and upgrade vehicle systems for wellbeing and better driving. An increasing number of modern vehicles have advanced driver-assistance systems in recent times globally. The automated system which is given by ADAS to the vehicle is demonstrated to lessen street fatalities, by limiting the human errors.

    Market Dynamics

    • Expanding technological innovations coupled with increasing initiatives towards vehicle automation and self-driving cars, growing adoption of ADAS in small cars and increasing government initiatives for mandating driver assistance system in order to lower road accidents are the crucial factors for the growth of the market. Growing investment in research & development for commercialization of these cars would provide growth opportunities. The future of autonomous vehicle industry is driven by decreasing cost of operation and the increased safety and reliability provided by such vehicles. The technology in autonomous driving has in some way surpassed that of human drivers in terms of safety. For instance, carmakers are still struggling to keep up the pace of innovation when it comes to driving safely despite unclear lane markings, ability to respond to signals from safety officers, and capacity to operate safely in all-weather conditions.

    • Compact vehicles are now the fastest-growing segment in the automobile market, and the expansion is likely to maintain its momentum in the near future owing to the downsizing trend sweeping the industry. The compact segment will be the growth engine for the Chinese auto market for the next two to five years, as a result of Chinese customers looking for easier mobility solutions. Moreover, the car companies are attracting the customers with the new features in small car segments like advanced assistance systems like blind-spot and lane-departure warning systems, automatic emergency braking, lane-change assistance, drowsiness alerts, and bird’s-eye displays. This will boost the ADAS market in the future.

    • Lack of infrastructure in developing countries is one of the major constraints for the growth of the market. For the effective functioning of ADAS require advanced infrastructure facilitates such as well-organized roads, lane marking, and availability of GPS. For highways, information such as a lane change, object detection, distance between vehicles, traffic, and services such as navigation and connectivity are very important for vehicles equipped with ADAS. In countries like India, Brazil, and China, the development of sophisticated IT and infrastructure on highways is growing at a slower rate as compared to European countries.

    Market Segmentation

    • Based on type, the global market for advance driver assistance system is broadly segmented as adaptive cruise control, blind spot detection, collision avoidance systems, tire pressure monitoring, automatic emergency braking, and others.

    • On the basis of the value chain, the market is classified into sensors, software algorithm and ecu/dcu technologies and actuator technologies. Sensors segment is further classified into camera, short/medium distance radar, long-distance radar, lidar, and ultrasound. The market revenue for global ADAS with respect to Sensor was $ 11.44billion in 2018 and is anticipated to see an upsurge during the forecast period. The market will reach US$ XX billion by 2026 growing at a CAGR of XX% between 2018 to 2026. It is expected to be the largest segment in the forecast period.

    • Sub segment Camera grabs the largest share in Sensors segment with 37% in 2018. In the advanced driving support system (ADAS), the camera is an important device that supports various functions, including parking assistance by assisting the driver's visibility and monitoring the rear image. In 2013 to 2018, the in-vehicle camera plays an important role, because of various functions such as LCW (white line detection function), TSR (traffic sign recognition), and CA (collision avoidance brake). In recent years, due to technological innovation related to Image Recognition, it has come to play a sensor function for directly controlling automobiles as well as visual assistance.

    • Depending on vehicle type, the market is further categorized into passenger cars, light commercial vehicles, buses, and trucks. Passenger Cars ADAS market has reached $ 16.59 billion in 2018 and is expected to reach $XX billion by 2026 with a CAGR of 12.95% during the forecast period 2018 to 2026. It is expected to hold the highest market share during the forecast period. The increase in the production of passenger cars will drive the global advance driving assistance system market. For instance, in 2017 global production for passenger vehicle 7.3 billion and has grown at the rate of 1.5%. The increasing government initiatives for mandatory driver assistance system to lower road accidents is expected to increase the market growth. Deployment of the Tire Pressure Monitoring System (TPMS) in passenger vehicles in 2014 has grown the demand for ADAS in Europe Around 88.35 million automotive safety sensors for driver assistance systems were shipped worldwide in 2014, with radar sensors leading the market for its wide range of applications in automotive.

    Geographical Analysis

    • The global Advance Driver Assistance System Market is segmented into North America, Europe, Asia Pacific, South America and Middle East & Africa.

    • The North America Advance Driver Assistance System Market was worth $7.37 billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of XX% during the forecast period. USA, Canada, and Mexico are the countries covered in the North America region. The increase automobile sales in the United States coupled with stringent environmental regulations are the major drivers of the ADAS market. Existence of major manufacturers in this region combined with the availability of sophisticated technologies enables the advanced driver assistance systems market to flourish. Additionally, the market for ADAS system is fuelled by consumer interest in safety applications that protect drivers and reduce accidents. For instance, the United States are mandating that all vehicles be equipped with autonomous emergency-braking systems and forward-collision warning systems by 2020.

    • The Europe Advance Driver Assistance System Market was worth $6.44 billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of XX% during the forecast period. Europe region is expected to hold the 2nd position globally in the forecasts period. Geologically, Europe overwhelmed the worldwide ADAS advertise in 2017 inferable from stringent guidelines in regards to driver's wellbeing combined with high interests in ADAS by worldwide automakers. European Union has ordered the car makers to fit ADAS frameworks, for example, autonomous emergency braking systems (AEBS) and lane departure warning systems (LDWS) in all overwhelming business vehicles weighing more than 7,000 Kilograms.

    • Germany is the largest economy in Europe, and its automotive industry is known worldwide for its high-quality automobile manufacturing. Moreover, the country is the fourth largest in terms of total vehicle production, globally, after China, the US, and Japan.France government is more concentrating on the safety applications in automotive in recent years. The country is establishing a legislative framework that will allow the testing of autonomous cars on public roads by 2019 end.

    Competitive Analysis

    • Some of key market players are Autoliv Inc., Continental AG, Delphi Automotive PLC, Denso Corporation, Hella KGAA Hueck & Co, Hyundai Mobis, Magna International, Mobileye, Robert Bosch GmbH, and Valeo SA.

    • Autoliv and Bosch are the top two players in the ADAS market. They combinely hold approximately 10% of the total market.

    • Partnerships, business expansion, and mergers & acquisitions are among key strategies adopted by the industry participants.

    • For instance, in February 2018, Autoliv AB announced its new spin-off company, Veoneer, the supplier of autonomous driving solutions and ADAS. In June 2017, Autoliv partnered with Volvo to form a new venture, Zenuity to develop self-driving cars based on Nvidia’s Drive PX Al computing platform, and commercialize by 2021.

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