ADAS Market Poised for Growth
September 23, 2016 | Transparency Market ResearchEstimated reading time: 2 minutes
The global advanced driver assistance systems (ADAS) market is expected to be competitive in nature in the years to come as new entrants are likely to compete with the already existing companies. Some of the top performing companies operating in the global advanced driver assistance market are BMW AG, Autoliv Inc., Robert Bosch GmBH, Continental AG, and Denso. Automotive manufacturers are aiming at passenger/driver safety owing to stringent government rules. To assure more comfort and safety of the passengers and drivers, manufacturers are adopting various ADAS features. Transparency Market Research (TMR), in its new report, states that the global ADAS market is driven by the growing automotive industry.
The global advanced driver assistance systems market is expected to reach US$50.48 bn by 2020. By type, the tyre pressure monitoring system segment is expected to surpass the adaptive cruise control segment, to dominate the global market by 2020. "The tire pressure monitoring system segment is predicted to register a 21.10% CAGR from 2014 to 2020," states a TMR analyst. Globally, the rising disposable income is expected to propel the demand for advanced driver assistance systems.
Safety Regulations to Boost North America ADAS Market
By region, the global advanced driver assistance systems market is dominated by North America, followed by Europe. The compulsion on tyre pressure monitoring systems in passenger cars and safety regulations is expected to propel the demand for advanced driver assistance systems in both these regions. Over the forecast period, the changing buyer preferences, improving lifestyles, and the rising demand for vehicles are expected to drive the Asia Pacific advanced driver assistance systems market. In Rest of the World, the Middle East and Africa and Latin America are predicted to contribute massively owing to favorable policies.
Safety Regulations to Boost Demand for ADAS
Manufacturers of vehicles are concentrating on fulfilling the basic needs of driver/passenger safety. In many nations, governments have made it mandatory for the auto manufacturers to add advanced safety features in vehicles to assure safety. The manufacturers of luxury vehicles are taking efforts to add innovative safety measures in the vehicles. All this is expected to propel the global demand for advanced driver assistance systems.
Cost Pressure to Hamper the ADAS Market
Technological advancements have definitely assisted the growth of many industries. However, it also has increased the costs of equipment and utility services. In the global automotive industry, manufacturers are focusing on introducing highly advanced auto parts. High prices of highly advanced auto parts is a challenge for the automakers. Most of the advanced driver assistance systems are highly priced, which is one of the key factors expected to hamper the growth of the global market. Production complexities associated with various environmental factors affecting the performance of the system is also expected to restrict the growth of the global advanced driver assistance systems market.
Rising Number of Autonomous Vehicles to Create Growth Opportunities
The number of vehicles manufactured is increasing every year. Manufacturers are focusing on introducing luxury cars, semi-luxury cars, SUVs and small cars. Different driver assistance systems are being introduced by key companies as per the vehicle types. The rising deployment of advanced driver assistance systems is expected to create new growth opportunities for key companies operating in the global market for ADAS, states a TMR analyst.
This information is based on the findings of a report published by Transparency Market Research titled “Advanced Driver Assistance Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2020.”
Suggested Items
Commercial Demand Continues to Be the Main Driver of Personal Computing Device Shipments into the GCC Region
03/26/2024 | IDCThe Gulf Cooperation Council (GCC) personal computing device (PCD) market, which is made up of desktops, notebooks, and workstations, declined 4.0% year on year in 2023, with high inventory levels and reduced consumer spending the primary causes.
Suppliers Aim to Raise Contract Prices, But With Uncertain Demand, 2Q24 DRAM Price Increase Expected to Narrow to 3–8%
03/26/2024 | TrendForceTrendForce’s latest report reveals that despite DRAM suppliers’ efforts to trim inventories, they have yet to reach healthy ranges. As they continue to improve their lose situations by boosting capacity utilization rates, the overall demand outlook for this year remains tepid.
LPKF Reports Strategic Successes and Narrowly Achieves Forecast for 2023 Financial Year
03/26/2024 | LPKFLPKF Laser & Electronics SE generated revenue of EUR 124.3 million in the financial year (previous year: EUR 123.7 million) and earnings before interest and tax (EBIT) of EUR 3.7 million (previous year: EUR 6.8 million), putting the EBIT margin at 3.0% (previous year: 5.5%).
Arlon EMD and EMC Announce Expansion in California
03/25/2024 | Arlon EMDArlon EMD, a division of Elite Materials Company (EMC), announces a factory expansion at the Rancho Cucamonga, CA location. Arlon is a global leader in high performance thermoset substrates for mission critical printed circuit boards manufactured for high endurance and long-life programs. Arlon has a 45-year history of manufacturing specialty materials for the Aerospace, Industrial and Military (AIM) markets.
Intraratio Enhances MES + Yield / IoT Management with New Advanced Manufacturing Analytics
03/22/2024 | IntraratioIntraratio announced AICard, which harnesses the power of artificial intelligence and machine learning to empower manufacturers to make informed decisions quickly and accurately regarding product quality and manufacturing line performance and optimization.