The increasing demand for autonomous vehicles has also fueled the ADAS market.

According to the new market research report "ADAS Market by System (ACC, AFL, DMS, NVS, IPA, PDS, TJA, FCW, CTA, RSR, LDWS, AEB, & BSD), Component (Radar, LiDAR, Ultrasonic, and Camera Unit), Vehicle (PC, LCV, Buses, & Trucks), Offering (Hardware, Software), EV, and Region - Global Forecast to 2025", published by MarketsandMarkets™, The increasing demand for autonomous vehicles has also fueled the ADAS market. Driver errors can be minimized by transforming the vehicle into a self-driving unit as automated driving technology helps to reduce the errors caused by drivers. ADAS would play a crucial role in reducing the number of road accidents and would lead to a safe, productive, and efficient driving experience.

Radar sensor is the fastest growing segment of ADAS market, by component

The increased traffic congestion, roadways infrastructure, and government regulations for vehicle safety will drive the growth of various radar-based ADAS applications. The rising trend of autonomous and semi-autonomous vehicles in the automobile industry is projected to be another major driver for the global automotive radar market.

Hybrid Electric Vehicle (HEV) to acquire the largest share of ADAS market, by electric vehicle type

HEV is estimated to hold the largest share of the ADAS market, by electric vehicle. Stringent emission norms, environment safety, vehicle electrification, and government regulations are expected to boost the market for ADAS in HEV segment. Governments around the globe are promoting the sale of electric vehicles by offering incentives to customers and subsidies to electric vehicle OEMs. Government incentives are expected to drive the ADAS market for electric vehicles.

Safety features have become an important prerequisite for automotive consumers across the world. Most of the accidents are caused by driver distraction or lack of concentration due to drowsiness. The Third Global Status Report on Road Safety 2015 estimated the number of road traffic deaths per year to be more than 1.2 million. The OEMs and the government regulatory authorities are taking necessary steps to improve transportation by addressing major challenges such as road accidents, traffic congestion, and the cost of transportation. The governments of various countries have also made mandates for features such as LDW and AEB. Several kinds of safety features have therefore been developed to assist the driver and lower the number of accidents. For example, the Driver Monitoring System monitors the driver and alerts or warns the driver in case drowsiness and distraction are detected.

Asia Pacific: The largest market for the ADAS market

The Asia Pacific region is estimated to hold the largest share, by value, of the ADAS market in 2018. The demand for ADAS in this region is triggered by the increasing vehicle production in China and India and the increasing number of luxury vehicles in China and Japan. This region is also the leading producer of automobiles in the world.

The report analyzes all major tier I suppliers in the ADAS market. Robert Bosch (Germany), Continental (Germany), ZF Friedrichshafen (Germany), Intel (US), and Aptiv (UK) are some of the leading suppliers in the ADAS market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact: Mr. Shelly Singh MarketsandMarkets™ Inc. 630 Dundee Road Suite 430 Northbrook, IL 60062 Usa : 1-888-600-6441 sales@marketsandmarkets.com