Global Advanced Driver Assistance System (ADAS) Market will see gains 12%+ To 2024
Date: 2019-01-30   Author: Ronak Bora  Category: #technology

Global Advanced Driver Assistance System (ADAS) Market will see gains 12%+ To 2024

Europe Advanced Driver Assistance System (ADAS) Market will witness CAGR over 14% up to 2024. Government regulations mandating installation of safety systems in vehicles will support the industry growth.  Institutional initiatives including Euro NCAP to promote driving assistance systems will drive the product penetration. In addition, presence of key automobile manufacturers provides a positive outlook for the regional demand.

ADAS Market for HCVs are anticipated to witness growth over 14% up to 2024. Necessity for speed constraints to ensure safety among HCVs has enhanced the product scope. Regulatory compliance promoting advanced sensor usage including lane departure warning systems and AEBs will fuel the industry demand.

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Global Advanced Driver Assistance System (ADAS) Market share is led by park assist systems due to increasing adoption particularly from aftermarket. Faster parking and reduced curb strikes are among key properties supporting the product demand. Rising demand from passenger and commercial vehicles particularly for forward collision warning functions has enhanced the industry growth.

Image sensors dominated the industry share contributing over 33% of the Advanced Driver Assistance System Market revenue in 2016. Evolution of modern computer vision analysis system with effective object identification will support the product penetration. Strong outlook for image sensors in auto high beam, blind spot detection, lane departure warning systems, night vision and surround view systems will support the business growth.

OEMs dominated the global Advanced Driver Assistance System (ADAS) Market share and are anticipated to remain dominating in forecast timeframe due to increasing adoption of safety standards. Increasing preference for safety systems among manufacturers to improve brand identity and ensure travel security will support the demand. OEMs are focused on strategic partnerships and collaborations with technology providers including sensors and other semiconductor suppliers.

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Inclination towards advanced safety systems among OEMs to differentiate their brand and gain competitive advantage will drive the Advanced Driver Assistance System Market growth. Rising demand from autonomous cars owing to its significant benefits including reduced traffic, increased safety and improved transportation service will propel the ADAS Market growth. 

Effective safety functions in steering, braking, monitoring and warning are key properties driving the industry demand. In addition, increasing adoption of ADAS to enhance economy and comfort with functions including monitoring blind spots and parking assistance will support the product demand.

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Autoliv, Bosch, Continental, Delphi Automotive, Denso, Harman International, Hyundai Mobis, Mobileye N.V., Nvidia Corporation and TRW Automotive are the key players in the ADAS market. Mergers & acquisitions, new product launches, collaborations and supply agreements are among major strategies adopted by industry participants.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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