Advanced Driver Assistance Systems predicted to grow to $63 billion by 2024
The global market for Advanced Driver Assistance Systems (ADAS) is projected to be valued $63 billion by 2024, according to a report by Accurize Market Research.
The sector is expected to see a compound annual growth rate of 10.7 percent from 2017 to 2025.
Advanced driver assistance systems, or ADAS, are systems developed to automate, adapt, and enhance vehicle systems for safety and improved driving to assist the driver in the driving procedure.
- A more extensive list can be found here: https://roboticsandautomationnews.com/2017/07/01/adas-features-of-advanced-driver-assistance-systems/13194/
- And a list of 40 companies that are active in the ADAS market can be be found here: https://roboticsandautomationnews.com/2019/04/19/top-40-advanced-driver-assistance-systems-companies/21983/
Safety functions are designed to avoid accidents and collisions by presenting technologies which alert the driver to possible crises.
In addition, adaptive features might automate lighting, provide automate braking, incorporate GPS / traffic warnings and aware driver to other cars or blind spot detection system.
The growth of global advanced driver assistance systems market is primarily driven by factors such as stringent government guidelines related to safety, and consumer preferences shifting towards active safety feature &advanced technology.
Similarly, augmented electronic content & electronic integration has also supported the market growth.
However, pricing pressure, inflation, and complexity in testing systems are the factors limiting the growth.
Additionally, deployment of ADAS in low-cost cars, and improved socio-economic conditions resulting in an increasing demand for luxury cars are likely to disclose the new avenues for the market in the coming future.
The global ADAS market is mainly classified on the basis of type, technology, and geography.
By type, the classification comprises adaptive cruise control, blind spot detection system, park assist, drowsiness monitor, tyre pressure monitoring system, lane departure warning system, and other types.
On the basis of technology, the classification includes infrared sensor, laser sensor, radar sensor, image sensor, and ultrasonic sensor.
Major companies operating in the market include Robert Bosch, General Motors, Delphi Automotive, Renault Group, Denso Corporation, Continental, Audi, Autoliv, Magna International, and Ford, among others.
Main image courtesy of Continental Engineering
