Advanced Driver Assistance System Industry Statistics, Analysis & Forecast To 2024

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Advanced Driver Assistance System Industry
Statistics, Analysis Forecast To 2024
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Key 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.

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Continued...

• 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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U.S. Advanced Driver Assistance System (ADAS)
Market, By Sensor, 2016 2024, (Thousand Units)

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Major Companies in ADAS Market

• Bosch Group
• Autoliv AB
• Delphi automotive
• Denso
• Continental Ag
• Harman International
• Magna International Inc.

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Regional 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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