Title: Automotive ADAS Market in North America to acquire maximum volume share of more than 34% by 2024
1ADAS Market in Europe to grow at over 14 CAGR
over the next eight years
2Key Insights from ADAS Market
- Rising concerns for traffic safety along with
stringent regulatory norms regarding deployment
of these systems will primarily drive the growth
of ADAS market over the forecast timeframe.
Various developed regions across the globe
including Europe and North America have mandated
their installation in vehicles for ensuring
overall safety, escalating the revenue
generation. - Park assist is likely to dominate the ADAS
market, exhibiting over 16 volume share till
2024. These systems have witnessed strong
prevalence in the industry since past few years. - Manufacturers are continuously shifting their
focus towards usage of image sensors owing to
their benefits such as high pixel quality. These
benefits are likely to further strengthen the
demand from several applications including
surround view systems, autonomous park assist,
and blind spot detection. - The industry is witnessing regular technological
advancements, resulting in rising inclination of
the customers towards these enhanced systems.
CMOS image sensor is an innovation that has
gained prominence among the ADAS market players.
3Continued...
- ADAS market from image sensors is expected to
showcase dominance, accounting for over 33
revenue share over the next eight years. These
sensors are installed in majority of the
technologies including surround view, night
vision, lane departure warning, blind spot
detection, etc., primarily contributing to the
revenue generation. - PCV will dominate the ADAS market, accounting for
over 65 volume share by the end of 2024. Rising
road safety concerns has led to their increased
installation in these vehicles. Rising demand for
ADAS installation in vehicles owing to increasing
concerns regarding driver safety will
significantly contribute towards the revenue
generation. - ADAS market from OEMs will dominate the industry
share over the forecast timeframe owing to their
installation during the production process. The
OEMs ensure proper maintenance of the product
safety standards. This results in their high
preference as compared to the counterpart,
supporting the industry dominance.
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5U.S. Advanced Driver Assistance System (ADAS)
Market, By Sensor, 2016 2024, (Thousand Units)
6Major Companies in ADAS Market
- Denso
- Delphi Automotive
- Continental
- Autoliv
- Bosch
- Harman International
- Mobileye N.V.
- TRW Automotive
- Hyundai Mobis
7Industry Coverage
8Regional Insights in ADAS Market
- North America ADAS market is expected to acquire
maximum volume share of more than 34 over the
next eight years. Rising number of testing
procedures for these technologies along with
established automobile industry in the region
will primarily contribute to the high revenue
generation. Higher penetration of ADAS and
stringent regulatory norms regarding their
mandatory installation will further support the
regional dominance. - Asia Pacific will grow rapidly, exhibiting over
14.5 CAGR from 2017 to 2024. Rising traffic
safety concerns and increasing demand from
countries including Japan, China, and South Korea
will further strengthen the industry penetration
in the region.
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