ADAS Market Size Worth $67.43 Billion by 2025 | CAGR: 19.0%: Grand View Research, Inc.
Tuesday, February 13, 2018
SAN FRANCISCO, February 13, 2018 /PRNewswire/ --
The global advanced driver assistance system (ADAS) market
[https://www.grandviewresearch.com/industry-analysis/advanced-driver-assistance-systems-adas-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Feb13_Advanced_Driver_Assistance_SystemsRD1&utm_content=Content ]
is expected to reach USD 67.43 billion by
2025, growing at a CAGR 19.0%, according to a new report by Grand View Research, Inc.
Increasing government initiatives for mandating driver assistance system in order to lower
road accidents is expected to proliferate market growth. Moreover, increasing adoption of
these systems in small cars is anticipated to further boost the market demand.
(Logo: http://photos.prnewswire.com/prnh/20160524/371361LOGO )
Rising level of technological innovation as well as growing initiatives towards
vehicle automation and self-driving cars has raised the demand for driver safety and
assistance systems over the past decade. For instance, European Union has mandated the
automotive manufacturers to fit ADAS systems such as lane departure warning systems (LDWS)
and autonomous emergency braking systems (AEBS) in all heavy commercial vehicles weighing
over 7,000 Kilograms.
ADAS technologies such as night vision, drowsiness monitoring system and road sign
recognition systems among others are anticipated to grow considerably over the forecast
period. Tire pressure monitoring system also expected to have significant penetration in
the overall market owing to their low prices and easy aftermarket availability. Moreover,
Adaptive cruise control provides much better driver safety and helps to avoid fatal road
accidents, thus the demand for these systems is expected to witness high growth by 2025.
The sensor components accounted for largest market share in 2016. The automotive
industry is in process of deploying self-driving vehicles on road, such types of
autonomous vehicles require combination of large number of sensors such as cameras, Radar,
LiDAR, ultrasonic sensors for performing different operations accurately. Thus, the demand
for sensors is anticipated to increase significantly over the forecast period. Among
different sensor types Lidar sensors are anticipated to gain high traction by 2025, owing
to their crucial function in self-driving cars.
In 2016, passenger cars accounted for over 72% share in global ADAS market, however
commercial vehicle segment is expected to witness fastest growth over the forecast period
owing to aforementioned government regulations for improving safety of heavy commercial
vehicles.
Browse full research report with TOC on "Advanced Driver Assistance Systems (ADAS)
Market Size, Share & Trend Analysis Report By Solution (Adaptive Cruise Control, Blind
Spot Detection), By Component, By Vehicle, And Segment Forecasts, 2014 - 2025" at:
https://www.grandviewresearch.com/industry-analysis/advanced-driver-assistance-systems-ada
s-market
[https://www.grandviewresearch.com/industry-analysis/advanced-driver-assistance-systems-adas-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Feb13_Advanced_Driver_Assistance_SystemsRD2&utm_content=Content ]
Further Key Findings From the Report Suggest:
- Global Advanced Driver Assistance System (ADAS) demand was USD 14.15 billion in
2016 and is anticipated to witness staggered growth over the next eight years.
- The autonomous emergency breaking system segment is anticipated to grow at CAGR of
22.0% over the forecast period.
- The demand for ADAS processors is anticipated to grow at moderate rate over the
forecast period.
- The Asia Pacific market is projected to witness substantial growth over the next
decade owing to various developments across major economies, especially in the Chinese
market. The regional market is expected to grow at a CAGR of 8.5% from 2017 to 2025
- Key players including Continental AG, Mobileye, Autoliv Inc., Magna international, and
Hyundai Mobis dominated the global ADAS market while accounting for over 43% of the
total volume in 2016. Advanced driver assistance system is leading the way to
autonomous vehicles. Technological innovation and disruptive pricing are key criteria
to strive the fierce competition in the market. Thus, various players are introducing
highly innovative products primarily focused on increasing the overall user safety and
enhancing the driver's experience.
Browse related reports by Grand View Research:
- Automotive Air-conditioning System Market
[https://www.grandviewresearch.com/industry-analysis/automotive-air-conditioning-system-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Feb13_Advanced_Driver_Assistance_SystemsRL1&utm_content=Content ]
- The automotive air conditioning
system market is anticipated to grow at a rapid pace owing to rise in demand for
vehicles from developing economies.
- Electric Scooters Market
[https://www.grandviewresearch.com/industry-analysis/electric-scooters-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Feb13_Advanced_Driver_Assistance_SystemsRL2&utm_content=Content ]
- The global electric scooters market size was valued
at USD 14.8 billion in 2015. The advent of increased green-house and carbon emissions
are expected to contribute to the adoption of electric scooters over the next eight
years.
- Automotive LiDAR Market
[https://www.grandviewresearch.com/industry-analysis/automotive-lidar-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Feb13_Advanced_Driver_Assistance_SystemsRL3&utm_content=Content ]
- The key application segments analyzed in the
automotive LiDAR market report include Advanced Driver Assistance Systems (ADAS)
and autonomous cars incorporating these systems.
- Fire Trucks Market
[https://www.grandviewresearch.com/industry-analysis/fire-trucks-market?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Feb13_Advanced_Driver_Assistance_SystemsRL4&utm_content=Content ]
- The global fire trucks market size was valued at USD 4.30
billion in 2015. Growing demand for fire safety among developed countries and the
need for advance firefighting apparatus is expected to augment the market growth.
Grand View Research has segmented the global advanced driver assistance system market
report on the basis of solution type, component type, vehicle type and region:
- Advanced Driver Assistance System Solution Type Outlook (Revenue & Volume, 2014 -
2025)
- Adaptive Cruise Control
- Blind Spot Detection System
- Park assistance
- Lane Departure Warning System
- Tire Pressure Monitoring System
- Autonomous Emergency Braking
- Adaptive Front Lights
- Others
- Advanced Driver Assistance System Component Type Outlook (Revenue & Volume, 2014 -
2025)
- Processor
- Sensors
- Radar
- Ultrasonic
- LiDAR
- Others
- Software
- Others
- Advanced Driver Assistance System Interior Design Outlook (Revenue & Volume,
2014 - 2025)
- Passenger car
- Commercial vehicle
- Light commercial vehicle
- Heavy commercial vehicle
- Advanced Driver Assistance System Regional Outlook (Revenue & Volume, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- United Kingdom
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
Read Our Blog By Grand View Research:
https://www.grandviewresearch.com/blogs/technology
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Photo:
http://photos.prnewswire.com/prnh/20160524/371361LOGO
SOURCE Grand View Research, Inc.
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