Title: Advanced Driver Assistance System Industry Statistics, Analysis & Forecast To 2024
1Advanced Driver Assistance System Industry
Statistics, Analysis Forecast To 2024
2Key Insights from ADAS Market
- ADAS and its role in mitigating distracted
driving - With an increasing amount of distractions such as
cell phones and telematics interface, distracted
driving has become a profound threat on roads. In
consequence, automakers are trying to bring more
safety not only to drivers and passengers but to
innocent bystanders as well, through the
expansion of advanced driver assistance systems
industry. Improved ADAS technologies such as
adaptive cruise control, lane departure warning
and automatic braking are becoming more and more
popular owing to the fact that they are capable
of kicking in before inattentive drivers can
cause accidents. - Certain advancements in ADAS technologies are
agile enough to detect drowsiness by sensing a
head nod and will definitely make future
automobiles safer. More common ADAS technologies
like the GPS navigation have made paper maps
almost obsolete. Their deployment is certain to
eliminate accidents caused due to distracted
driving, thereby fueling ADAS industry. The EU
has also mandated the installation of lane
departure warning in all heavy trucks further
indicating that ADAS market trends are here to
stay.
3Continued...
- The impact of technological developments on ADAS
market outlook - One of the major factors that will influence ADAS
industry growth is the rate at which
technological advancements are making their foray
in this business space. In the recent years,
semiconductor companies and other players in the
automotive industry have made significant
enhancements in the ADAS technology. For
instance, the forward collision warning system is
being increasingly made mandatory in heavy
vehicles by regulatory bodies. Studies conducted
in relation to forward collision and automatic
braking pointed out that the technology has
resulted in 14 drop in property damage liability
claims. - Collision avoidance and collision mitigation
systems in autobraking have also been gaining
momentum in the ADAS industry as they have been
tested to be highly effective under favorable
conditions. Estimates claim that collision
avoidance systems helped prevent a collision 60
of the times while collision mitigation prevented
mishaps 33 of the times.
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5U.S. Advanced Driver Assistance System (ADAS)
Market, By Sensor, 2016 2024, (Thousand Units)
6Major Companies in ADAS Market
- Bosch Group
- Autoliv AB
- Delphi automotive
- Denso
- Continental Ag
- Harman International
- Magna International Inc.
7Regional Insights in ADAS Market
- Considering the costs of ADAS and the fact that
some of the largest producers of automobiles are
located in North America, it is presumable that
the region will emerge as a profitable avenue for
ADAS market. North America has been projected to
dominate ADAS industry, accounting for a share of
34 by 2024. Not to mention, consumer awareness
has also led to relatively high adoption of ADAS
technology in this region. Additionally, the
continent is governed by a stringent regulatory
framework, that has further augmented the
regional ADAS industry size. - This business vertical however, has also depicted
commendable expansion across the developing
nations. For example, Tata Motors has partnered
with Wabco India to deploy collision mitigation
system and lane departure warning system in its
Prima and Sigma Trucks, thus making inroads for
ADAS market to gain ground in India. Indeed, APAC
has become an automotive hub owing to excessive
automobile production in China, Japan, and South
Korea. Whats more, these regions are now
depicting enhanced living standards and consumer
awareness for better road safety, that have
contributed toward impelling APAC ADAS market
outlook.
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