Global advanced driver assistance systems (ADAS) market would witness a CAGR of 21.4% over 2018-2026, according to the latest research available at Market Study Report LLC, report provides detailed segmentation of the advanced driver assistance systems market based on system, Component, Vehicle Type, Electric Vehicles and region.
ADAS facilitate an enhanced passenger experience by ensuring comfort to drivers and safety to the vehicles. Integration of ADAS in vehicles gives drivers an improved situational awareness and better control for a safer and easier driving experience. The key components that make up an Advanced Driver Assistance System include sensors, LiDAR, radar systems, AI software and GPS.
According to the report, the demand for ADAS has seen a rapid increase over the past few years due to growing concerns around road safety, triggered by increasing occurrences of road accidents. Moreover, the growing prominence of connected cars and the subsequent rise in adoption of the Internet of Things (IoT) technology are also boosting industry outlook.
Furthermore, several technological advancements, rising electric vehicle sales, and increasing investments in technological innovation as well as research and development would further supplement industry growth. Additionally, an uptick in luxury vehicle demands and the anticipated advent of fully autonomous vehicles would also promote market growth over the forecast timeframe.
The research report offers an exhaustive quantitative and qualitative analysis of industry trends, drivers, and opportunities over the predicted timeline. The report also gives valuable insight pertaining to regional contribution across five major segments, including Europe, North America, Latin America, Asia Pacific, and Middle East & Africa.
North America market is further divided into the U.S., Canada, and Mexico. Europe is fragmented into the UK, Germany, France, Italy and the rest of Europe. Similarly, the Asia Pacific is segmented into India, China, and Japan and the rest of the Asia Pacific.
Back in 2017, North America amassed the highest revenue owing to increasing safety concerns and incidents of vehicular accidents. The high disposable income levels and improving standard of living further supported market growth in the region.
Request sample copy of this Report@ https://www.marketstudyreport.com/request-a-sample/1700733/
On the basis of the competitive landscape, the global ADAS market is characterized by the presence of international as well as small to medium scale vendors who are consistently unveiling new products to improve their market offerings.
Powered by technological advancements, industry players are introducing and innovating novel customized ADAS products to be able to cater to rising customer needs. Businesses are also banking on tactics like acquisitions, in an effort to enhance their product portfolio and capture a larger market share. Acquisitions also allow key players to boost their geographic reach and customer base.
The leading players profiled in the ADAS business sphere include Texas Instruments, Denso Corporation, Infineon Technologies AG, Robert Bosch GmbH, Continental AG, Intel Corporation, Magna International, Inc., Valeo S.A., Garmin Ltd., and Autoliv Inc. among others.