Advanced Driver-Assistance Systems Market Growth Rate:
Advanced Driver Assistance System market is estimated at USD 34.8 billion in 2019 and is expected to expand at a CAGR of 21.1% to reach USD 107.6 billion by 2024.
Advanced Driver-Assistance Systems Market Overview:
Advanced Driver-Assistance Systems (ADAS) are automated systems that support the driver of the car during driving or while parking. Engineered with a comfortable human-machine interface, these systems are designed to enhance vehicle safety and, more specifically, traffic safety. ADAS systems use electrical hardware like electronic control units (ECUs), microcontroller units (MCUs), and control microprocessor devices.
Recent Developments of Advanced Driver Assistance System Market:
Mitsubishi Electric Corporation, a global market leader, and HERE Technologies jointly implemented an efficient system that allows cars to immediately warn any possible road conditions/hazards with lane-level precision in May of 2019.
Drivers and Restraints of the Advanced Driver Assistance System Market:
Drivers:
Restraints:
Market Segmentation:
By System Type:
Based on the System Type, the Global Advanced Driver Assistance System market is segmented into Adaptive Cruise Control(ACC), Road Sign Recognition (RSR), Tire Pressure Monitoring Systems (TPMS), Intelligent parking Assistant system (IPAS), Adaptive Front Lighting System(AFL), Night Vision System (NVS), Blind Spot Detection (BSD), Lane Departure Warning System (LWDS). Out of these, Intelligent Parking Assistance System segment holds the majority of the market share with over 15% in 2019, which can be attributed to the mandatory requirement of installment of IPAS in countries such as China and the U.S. On cars configured with the IPAS, via the in-dash monitor as well as the press controls, the automobile can be steered into a parking place with very little driver intervention. This helps reduces the parking time and avoids any unnecessary accidents, and these advantages are the significant drivers of the IPAS segment of Advanced Driver Assistance System market.
Also, Road Sign Recognition (RSR) is expected to be the fastest-growing segment, at a CAGR of 24.5%, owing to the increased investments in this segment from top competitors like Audi, Volvo, BMW. This system recognizes and alerts the driver about the road signs and help with the quiet moment of the vehicle. For significant companies, this smoothness is the key to their sale, which can be a growth factor of RSR segment of Advanced Driver Assistance System market.
By Vehicle Type:
Based on the Vehicle Type, the Global Advanced Driver Assistance System market is segmented into Passenger Vehicle, Trucks, Busses and Low commercial Vehicles and other types. Out of these, Passenger Vehicle is both the largest and the fastest-growing segment that accounted for over 30% in 2019. The section is expected to expand at CAGR of 22.5% during the forecast period of 2019 - 2024 due to the increase in demand for safe and smoother vehicles. The rise in urbanization resulted in increased demand for Luxury passenger cars, which is a significant factor that drives the growth of the Passenger Vehicle segment of Advanced Driver Assistance System Market.
Advanced Driver Assistance System Region-wise analysis:
Based in region, Advanced Driver Assistance System can be segmented into:
Geographically, APAC is anticipated to contribute to the largest portion of the Advanced Driver Assistance System market among all the regions. This is due to the increase in the GDP of the region, as a result of increased urbanization, and many people nowadays are willing to buy and afford luxury cars with built-in advanced safety systems.
Key Players of Market:
The key players of the Advanced Driver Assistance System include Autoliv Inc., DENSO Corporation, ROBERT BOSCH STIFTUNG GMBH (ROBERT BOSCH GMBH), NXP Semiconductors, Renesas Electronics Corporation, Delphi Automotive Company, Takata Corporation, Aisin Seiki Co. Ltd., Harman International Industries, Hitachi Ltd. Some other key Players of the Market include Continental AG, Magna International Inc., Valeo, Panasonic Corporation, Texas Instruments, Hyundai Mobis, ZF Friedrichshafen, Mobileye N.V, NVIDIA Corporation, Stonkam Co. Ltd. Many of these key players focused on technological innovations and aggressive market expansion strategies for staying ahead of the competition.
RESEARCH METHODOLOGY:
The research of the Advanced Driver Assistance System market takes place in two phases namely-
Secondary Research The first phase of the research process is extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. Extensive secondary research helps in generating hypotheses and identifying critical areas of interest that are investigated through primary research.
Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook, etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies.
Global Advanced Driver Assistance System Market Research Report Key Highlights:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Technology
5.1.1 Introduction
5.1.2 Radar
5.1.3 Li-Dar
5.1.4 Camera
5.1.5 UV Sensors
5.1.6 IR sensors
5.1.7 Other Technologies
5.1.8 Y-o-Y Growth Analysis
5.1.9 Market Attractiveness Analysis
5.1.11 Market Share Analysis
5.2 By System Type
5.2.1 Introduction
5.2.2 Adaptive Cruise Control(ACC)
5.2.3 Road Sign Recognition (RSR)
5.2.4 Tire Pressure Monitoring Systems (TPMS)
5.2.5 Intelligent parking Assistant system (IPAS)
5.2.6 Adaptive Front Lighting System(AFL)
5.2.7 Night Vision System (NVS)
5.2.8 Blind Spot Detection (BSD)
5.2.9 Lane Departure Warning System (LWDS)
5.2.10 Y-o-Y Growth Analysis
5.2.11 Market Attractiveness Analysis
5.2.12 Market Share Analysis
5.3 By Vehicle Type
5.3.1 Introduction
5.3.2 Passenger Cars
5.3.3 Trucks
5.3.4 Busses
5.3.5 Low weight Commercial Vehicles
5.3.6 High Commericial Vehicles
5.3.7 Other Vehicles
5.3.8 Y-o-Y Growth Analysis
5.3.9 Market Attractiveness Analysis
5.3.10 Market Share Analysis
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Technology
6.1.3.3 By System Type
6.1.3.4 By Vehicle Type
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Technology
6.1.4.3 By System Type
6.1.4.4 By Vehicle Type
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Technology
6.1.5.3 By System Type
6.1.5.4 By Vehicle Type
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leader Analysis
8.1 Autoliv Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 DENSO Corporation
8.3 Mitsubishi Corp
8.4 ROBERT BOSCH STIFTUNG GMBH (ROBERT BOSCH GMBH)
8.5 NXP Semiconductors
8.6 Renesas Electronics Corporation
8.7 Delphi Automotive Company
8.8 Takata Corporation
8.9 Aisin Seiki Co. Ltd.
8.10 Harman International Industries
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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Aug 2019
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