Albany, NY -- (SBWire) -- 09/22/2020 --Transparency Market Research has published a new report titled, "Global Advanced Driver Assistance System Market (Technology: Adaptive Cruise Control, Lane Keep Assist & Lane Departure Warning, Tire Monitoring System, Blind Spot Detection, Adaptive Front Light System, Night Vision System, Automatic Emergency Braking, Forward Collision System, Pedestrian Detection System, Road Sign Recognition, Traffic Jam Assist, and Driver Monitoring System/ Drowsiness Monitor System; Component: LiDAR, RADAR, Camera, and Ultrasonic Sensor; Vehicle Type: Passenger Vehicle and Commercial Vehicle) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027." According to the report, the global advanced driver assistance system market is projected to surpass US$ 150 Bn by 2027, expanding at a CAGR of above 12% during the forecast period.
Global Tire Market for Automotive:
According to the report, the global advanced driver assistance system market is anticipated to be driven by a surge in the demand for enhanced vehicle safety and comfort while driving
Automotive equipped with ADAS, which is considered as a mainstay of autonomous vehicles and driverless cars, offers more safety to the vehicle and aids the driver to tackle hazardous road conditions, especially during long route journeys and traffic congestion
Key automakers, such as Audi, BMW, Volvo, Daimler, Toyota, General Motors, Honda, and FCA, are offering vehicles equipped with ADAS. Majority of newly launched vehicles are incorporated with ADAS technologies; if not fully, they include a couple of basic ADAS technologies that prevent vehicle accidents and protect the driver from injury.
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Expansion of Global Advanced Driver Assistance System Market
The automotive industry is witnessing significant technological advancements in conjunction with rising adoption of sensors to ensure improved vehicle safety and comfort during driving. Furthermore, an increase in the demand for improved vehicle ride in adverse weather conditions is anticipated to augment the advanced driver assistance system market during the forecast period.
Development in the automotive industry is not only limited to engine and design, but also focused on safety of the driver, pedestrian, and vehicle. Driver distraction or error while driving can lead to accidents, which can be avoided through the amalgamation of the advance driving assistance system, which substantially reduces security concerns, enhances safety on road, and reduces vehicle road fatalities. Additionally, the ADAS is designed to counter traffic congestion by maintaining distance between successive vehicles at all times, thereby reducing anxiety and fatigue of the driver.
Advanced driver assistance systems in automotive can probably save tens of thousands of lives every year that are lost to road traffic accidents and fatalities due to human errors in judgment while driving, especially in urban areas and on highways. These factors are anticipated to fuel the adoption of advanced driver assistance systems in the near future
Based on technology, the global advanced driver assistance system market has been bifurcated into adaptive cruise control, lane keep assist & lane departure warning, tire pressure monitoring system, blind spot detection, adaptive front light system, night vision system, park assist system, automatic emergency braking, forward collision system, pedestrian detection system, road sign recognition, traffic jam assist, and driver monitoring systems/drowsiness monitor system. Adaptive front light is a highly attractive segment of the market. The adaptive front light, which is considered as an innovative automotive solution, aids the driver by operating the headlights automatically according to the surrounding conditions. This is carried out without any driver intervention, which enhances the night driving experience. Additionally, while driving on winding roads, the adaptive front light system changes the lighting pattern to compensate for the curvature of the road and helps enhance visibility, thereby providing improved driving experience. Furthermore, the adaptive front light system prevents the glare of oncoming vehicle headlights from hampering the driver's visibility. This is another factor boosting the adoption of the adaptive front light system.
Based on vehicle type, the global advanced driver assistance system market has been split into passenger vehicle and commercial vehicle. Passenger vehicle is likely to remain prominent segment of the market in the near future. This is majorly attributed to the higher rate of adoption of advanced driver assistance systems in passenger cars in order to ensure more comfort and safety while driving. Moreover, increasing incorporation of advance safety features in vehicles is boosting the passenger vehicle segment.
Regional Analysis of Global Advanced Driver Assistance System Market
In terms of region, the global advanced driver assistance system market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific leads the global advanced driver assistance system market, primarily due to the presence of key auto manufacturers and original equipment manufacturers in the region, who continuously supply the automotive industry in the region with improved and efficient solutions. Furthermore, consistent progress and advancements in technology in conjunction with significantly high production and export of vehicles are boosting the advanced driver assistance system market in the region.
Prominent players operating in the global advanced driver assistance system market include Continental AG, Magna International Inc., Infineon Technology AG, NXP Semiconductors, Siemens AG, DENSO CORPORATION, Delphi, Autoliv Inc., Robert Bosch GmbH, Qualcomm Technologies, Inc., Ficosa Internacional SA, Gentex Corporation, HARMAN International, AISIN SEIKI Co., Ltd., Valeo, HYUNDAI MOBIS, ZF Friedrichshafen AG, HELLA KGaA Hueck & Co., Texas Instruments Inc., Mobileye, and Visteon Corporation.
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The global advanced driver assistance system market has been segmented as follows:
Global Advanced Driver Assistance System Market, by Technology
Adaptive Cruise Control
Lane Keep Assist & Lane Departure Warning
Tire Pressure Monitoring System
Blind Spot Detection
Adaptive Front Light System
Night Vision System
Park Assist System
Automatic Emergency Braking
Forward Collision System
Pedestrian Detection System
Road Sign Recognition
Traffic Jam Assist
Driver Monitoring Systems/ Drowsiness Monitoring System
Global Advanced Driver Assistance System Market, by Component
LiDAR
RADAR
Camera
Ultrasonic Sensor
Global Advanced Driver Assistance System Market, by Vehicle Type
Passenger Vehicle
Commercial Vehicle
Global Advanced Driver Assistance System Market, by Region
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
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Advanced Driver Assistance System (ADAS) Market Projected to Witness a Double-Digit CAGR During 2019-2027
The global advanced driver assistance system market is projected to surpass US$ 150 Bn by 2027, expanding at a CAGR of above 12% during the forecast period.