Research report presented by UnivDatos, Emphasis on System Type (Adaptive Cruise Control (ACC), Intelligent Park Assist (IPA), Automatic Emergency Braking (AEB), Adaptive Front Light (AFL), Blind Spot Detection (BSD), Lane Departure Warning (LDW), Drowsiness Monitor System (DMS), Others), Sensor Type (Image Sensor, LiDAR Sensor, Ultrasonic Sensor, Radar Sensor, Other), Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle), Distribution Channel (Original Equipment Manufacturer (OEMs), Aftermarket) and Geographical analysis (key regions and countries).
As per the research report, Global Advanced Driver-Assistance Systems Market is expected to reach the market valuation of US$ 72.9 billion by 2026 expanding at a reasonable CAGR of 15.9% during the forecast period (2021-2026) from US$ 32.4 billion in 2019.
Advanced Driver Assistance Systems (ADAS) aim to reduce traffic fatalities and the number of people killed or injured by assisting drivers in avoiding crashes entirely. These systems respond quicker than humans, are always on the lookout, and are now being implemented and introduced across a wide range of vehicle segments, from luxury to economy. ADAS systems continuously track the vehicle's surroundings, alerting the driver to potentially dangerous road conditions and taking appropriate measures such as slowing or halting the vehicle.
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The demand for advanced driver-assistance systems (ADAS), which assist with tasks such as tracking, alert, braking, and steering, is expected to rise in the near future, driven primarily by regulatory and market interest in safety applications that protect drivers and minimise accidents. For example, by 2020, both the European Union and the United States would require all cars to have automatic emergency braking and forward-collision warning systems.
ADAS technologies are either available or being developed by a number of semiconductor firms who have not previously worked in the automobile industry. Automobile manufacturers have created their own branded technology names, resulting in twenty different names for adaptive cruise control and nineteen different names for lane keeping assistance, for example. Driver assistance features are not only readily accessible, but they are also reasonably priced. For example, Adaptive Cruise Control costs US$ 1,174 as a stand-alone feature and US$ 2,283 as part of an ADAS package. According to SBD numbers, the average cost of an ADAS package is about US$ 1,950. According to Kelley Blue Book, the total new vehicle expense in December 2017 was US$ 36,113. The cost of an ADAS package accounts for around 5.4 percent of the overall vehicle cost. In each of the Midsize, Large, and SUV vehicle categories, ADAS technologies such as Adaptive Cruise Control, Blind Spot Warning, and Automatic Emergency Braking are available in at least 80% of vehicles. In seven out of ten car segments, Lane Keeping Assistance is required in at least 60% of cars. Many trucks are now equipped with these capabilities as standard equipment. Automatic Emergency Braking, for example, is standard on 30.6 percent of all vehicles, Lane Keeping Assistance is standard on 13.9 percent of all models, and Adaptive Cruise Control is standard on 11.8 percent of all models.
For a detailed analysis of the applications in the ADAS Market browse through - https://univdatos.com/report/advanced-driver-assistance-systems-adas-market-current-analysis-and-forecast-2020-2026
Insights Presented in the Report
“Amongst system type, adaptive cruise control segment holds the major share”
The market is divided into Adaptive Cruise Control (ACC), Intelligent Park Assist (IPA), Automatic Emergency Braking (AEB), Adaptive Front Light (AFL), Blind Spot Detection (BSD), Lane Departure Warning (LDW), Drowsiness Monitor System (DMS), and others, depending on the system form. Due to increased customer demand for convenience and luxury, as well as increased competition among OEMs to provide such driver assistance features, the intelligent park assist segment dominated the market with a share of 27.4 percent in 2019 and is expected to continue its dominance during the forecast era.
“Amongst sensor type, image sensor is expected to dominate the market during the analyzed period”
The market is divided into Image Sensors, LiDAR Sensors, Ultrasonic Sensors, Radar Sensors, and Others based on sensor type. Image sensors accounted for 35.9% of total industry sales in 2019. The image sensor currently dominates the Advanced Driver-Assistance Systems market and is expected to do so during the forecast era. Parking assistance, lane departure alerts, and collision avoidance systems are only a few of the features that image sensors provide on the road.
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“Amongst vehicle type, passenger vehicles are expected to dominate the market during the analyzed period”
The industry is divided into three segments based on vehicle type: passenger cars, light commercial vehicles, and heavy commercial vehicles. With a market share of 52.8 percent in 2019, passenger vehicles are projected to be the leading segment of the ADAS market over the forecast period. By incorporating driver distraction and inadvertent behavioural adjustment, the latest in-vehicle systems under development have the potential to increase as well as decrease crash accident risk. In different midsize, big, and SUV vehicle segments, the popular ADAS features are available in at least 60-80 percent of vehicles.
“Amongst distribution channel, OEMs are expected to dominate the market during the analyzed period”
The demand is divided into OEMs and aftermarket segments based on the sales channel. OEMs had the largest market share of 79.1% in 2019 and are expected to continue to do so during the projected period. At an exponential pace, automakers are designing new cars, hybrid powertrains, autonomous technology, and integrated safety systems. OEMs and their suppliers recognise that original equipment manufacturers (OEMs) and their suppliers can one day become the primary feature distinguishing car brands, as well as one of their most valuable revenue streams.
“North America represents one of the largest markets of Advanced Driver-Assistance Systems market”
A systematic research was performed for various regions around the globe, including North America (the United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of APAC), and the Rest of the World, to gain a greater understanding of the business conditions for Advanced Driver-Assistance Systems. In 2019, Europe led the industry, bringing in $11.3 billion in sales. The existence of the world's largest car manufacturers around the globe is credited with the market's growth prospects. During the forecast period 2021-2026, however, the APAC area is predicted to have the highest CAGR of 18.52 percent.
The Advanced Driver-Assistance Systems Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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