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ADAS Market to Generate Revenue Worth $99.6 Billion by 2022

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Published Date:   March 2016

Valued at $19.8 billion in 2015, the global advanced driver assistance system (ADAS) market is projected to surpass $99.6 billion by 2022, growing with 27.0% CAGR during 2016–2022. Based on component, the system category accounted for larger share in the ADAS industry, with above 75% market share in 2015. The share of the category is further expected to increase during the forecast period.

Increasing Partnerships and Collaborations is an Emerging Trend in ADAS Market

Technical collaboration is a major strategic move followed by companies in the ADAS market. Leading manufacturers are collaborating within or outside the industry to upgrade their product portfolios. For instance, in 2015, Ford entered into collaboration with RWTH Aachen University, Germany. The aim for collaboration was to conduct research in the field of ADAS to meet changing customer preferences in driving assistance system. In 2014, Autoliv Inc. entered into an agreement with Neonode Inc. for the development and license for active sensor steering wheel application to develop new human machine interface-sensing product for vehicle steering. Under the agreement, Neonode will license its zForce Drive technology to Autoliv.

Vehicle Safety Regulations and Initiatives are Boosting ADAS Market Growth

Advancement in technology has been boosting the sales of connected cars. Such cars are safer as compared to standard passenger cars, as several equipment promoting vehicle safety are integrated within the vehicle. However, earlier regulations related to vehicle safety were moderate and not mandatory. In recent years, government regulations toward vehicle safety have become strict and vehicles driven in most of developed countries are required to be equipped with safety features, such as ADAS. The European Commission (EC) has targeted to reduce road traffic accidents by 50% in the years to come. The National Highway Traffic Safety Administration (NHTSA) in the U.S. has issued a mandate called Federal Motor Vehicle Safety Standards (FMVSS), according to which vehicle and equipment manufacturers must conform and certify compliance related to vehicle safety. These initiatives and regulations are driving the growth of the global ADAS market.

Segmentation Analysis of ADAS Market

ADAS Market

On the basis of component, the ADAS market is categorized into sensor and system. Between the two, the system category is expected to witness faster growth during the forecast period. On the basis of type, under the ADAS system market, the adaptive front lighting system (AFLS) category dominated the system market in 2015. Furthermore, tire pressure monitoring system (TPMS) category is expected to witness the highest growth during the forecast period, owing to its mandatory installation in vehicles in several countries of Europe.

Based on technology, under the ADAS sensor market, radar ADAS sensor category held the largest market share in 2015. Moreover, the market for ultrasonic ADAS sensors is projected to grow at the fastest pace during the forecast period.

Geographical Analysis of ADAS Market

Globally, Europe held the largest share in the ADAS market in 2015. Whereas, during the forecast period, the APAC market is expected to exhibit the fastest growth. Growing urbanization and increasing demand for high-end automobiles in APAC are the major reasons for significant growth of the ADAS industry in the region. Furthermore, the sale of passenger cars is moderated in developed countries, and the market for high-end cars has been up surging. Such factors will propel the market for ADASs in the region during the forecast period.

Explore Report with Detailed TOC at: https://www.psmarketresearch.com/market-analysis/driver-assistance-systems-market

Competitive Landscape of ADAS Market

The ADAS market is consolidated in nature, with the presence of established players, such as Autoliv Inc., Magna International Inc., Continental AG, Valeo SA, Robert Bosch GmbH, Ford Motor Company, Denso Corporation, BMW Group, and Audi AG.

Recently, companies have taken several strategic measures in the ADAS market, such as product launches and partnerships and collaborations, to expand their footprint and product portfolios. For instance, in December 2014, Autoliv launched a driver-assistance product that provides light-based touchless-touch sensing with visual guidance. It is also an alternative to mechanical switches in vehicles. Furthermore, in March 2015, Robert Bosch collaborated with Axel Springer Media Entrepreneurs to develop products for connected mobility solutions, including digital content.

GLOBAL ADAS MARKET SEGMENTATION

By Component

  • Sensor
    • Ultrasonic Sensor
    • Infrared Sensor
    • Radar Sensor
    • Image Sensor
    • LiDAR Sensor
    • Laser Sensor
  • System
    • Tire Pressure Monitoring System
    • Drowsiness Monitoring System
    • Park Assist
    • Adaptive Cruise Control
    • Blind Spot Detection System
    • Lane Departure Warning System
    • Adaptive Front Lighting System
    • Others (including Night Vision System and Driver Monitoring System)

GEOGRAPHICAL SEGMENTATION

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World