According to the research report titled ‘GLOBAL ADVANCED DRIVER ASSISTANCE SYSTEM (ADAS) MARKET 2019-2027’, available with Market Study Report, global advanced driver assistance system (ADAS) market is estimated to showcase an annual revenue growth rate of 19.46% and grow with a CAGR of 21.66% in terms of volume between 2019 and 2027.
 

Strict regulatory scenario pertaining to passenger safety coupled with rising adoption of safety standards owing to high occurrence of road accidents are key factors driving the growth of global advanced driver assistance system (ADAS) market. Increasing number of vehicle thefts and rising automotive production are further aiding the market expansion.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2515936/
 

Mounting awareness regarding the benefits of ADAS in tandem with widespread adoption of such systems in low-cost vehicles are also stimulating worldwide advanced driver assistance system industry outlook. However, high costs associated with ADAS systems and technological limitations may negatively impact the market outlook in the forthcoming years.
 

As per vehicle type, the market is classified into heavy commercial vehicles, light commercial vehicles, and passenger cars. Moving on to component terrain, global advanced driver assistance system industry is split into processor, software, and others. The processor segment is further divided into LiDAR, infrared, radar, laser, ultrasonic, image, and sensor.
 

In terms of level of automation, the industry is categorized into Level 5 (full automation), level 4 (high automation), level 3 (conditional automation), level 2 (partial automation), and level 1 (advanced driver assistance system).
 

By solutions scope, worldwide advanced driver assistance system (ADAS) market is fragmented into driver drowsiness detection, traffic sign recognition system, advanced emergency braking system, adaptive cruise control, electronic stability control, blind spot detection, collision warning system, lane departure warning system, adaptive front lighting system, tire pressure monitoring system, parking assistance system, and others.
 

Regionally, Europe accounted for 39.1% share in global advanced driver assistance system market in 2018 and is predicted to expand consistently during the study period. High concentration of major companies, availability of advanced infrastructure for manufacturing, technological advancements, and improving economic conditions are facilitating the business outlook in Europe.
 

Moreover, Europe being the hub of automotive industry, has witnessed massive industrial transformation after the recession in the year 2010, further resulting in widespread proliferation and adoption of advanced driver assistance system, which in turn is allowing the region to become a major revenue generator for the overall market.
 

The prominent companies operating in global advanced driver assistance system industry are TRW Automotive Holdings Corp., WABCO Holdings Inc., Valeo S.A., Texas Instruments Inc., Takata Corporation, Motherson Sumi Systems Limited, Robert Bosch GmbH, Renesas Electronics Corp., Panasonic Corp., NXP Semiconductors N.V., Mobileye N.V., Magna International Inc., Infineon Technologies AG, Hyundai Mobis, Hella KGaA Hueck & Co., Denso Corp., Continental AG, Autoliv Inc., Aptiv plc, and Aisin Seiki Co. Ltd. among others.