Advanced Driver Assistance Systems which is a part of the Automotive Electronics market is expected to grow at a rapid rate in value, with estimates suggesting a CAGR of more than 50% for the period of 2013-18.
January 19, 2014 (Newswire.com) -
With the introduction of electronics and data connectivity, the automotive segment has seen the rise of a new era - the automotive electronics era. This term is broadly used to refer to various technologies which have come up in the past few years, such as telematics, in- vehicle infotainment and driver assistance systems. Though these technologies have been around since a decade mostly as a niche market, recent analysis of the market has shown that the use of these systems is on the rise especially among the popular-car segments. With increased ease-of-production and reducing costs, coupled with increased consumer demand, these markets are on the rise.
ADAS encompasses a number of technologies such as sensors, RADAR, LIDAR, integrated cameras etc., which assist the driver, making his/her driving experience more safe and comfortable. ADAS provides the driver with an all-round picture of what is going-on in the surroundings of the vehicle and also has capability to provide warning signal in times of emergencies.
Analysis of the Advanced Driver Assistance Systems (ADAS) market has revealed a possible growth of this segment, at a rate of over 50% CAGR till 2018. In terms of value of the markets, our estimates show that the market value may rise from the current value of about $18.5 bn(in 2013) to $ 165 bn by 2018.
Also governments in some countries across the world are in the process of making safety and emergency services on vehicles compulsory, which might drive the market further. For example The European Commission and Euro NCAP (New Car Assessment Program) have included regulations about making autonomous-emergency braking (AEB) technology part of European crash evaluations from 2014, and application of TPMS(Tire Pressure Monitoring System) are to be made mandatory in the coming years. These are expected to be major growth drivers for the market.
With the major auto-vendors, realizing the huge potential in this market, many of them such as GM, Ford Motors, Toyota, BMW, Audi etc., have tie-ups with auto-OEMs to include ADA systems in their vehicle during production. Apart from this a number of independent technology enterprises have entered the market to provide ADA systems to on-road vehicles driving up the aftermarket sales of ADA systems, which is also a booming market. Some of the major enterprises which are providing ADA systems in the market include Aisin Group, AudiovoxCorp. Ficosa International S.A., Hella KGaA Hueck & Co.
Geographical analysis of the ADAS market shows that while the U.S and Western Europe are still the major markets, a number of Asian passenger car producers such as, Toyota, Nissan, Honda, Hyundai / Kia, etc., are offering driver assistance systems in their cars. Driver assistance systems are in demand because of the clear advantage they offer in the congested traffic of highly populated Asian countries. In the coming years, countries such as China, South Korea, Japan, etc. are expected to make driver assistance systems mandatory in passenger cars, hence the market is anticipated to grow with a promising growth rate in next five years.
The IndustryARC report on the Global Advanced Driver Assistance Systems Market identifies many such insights and M&A opportunities, besides providing a detailed analysis of the ADAS market.
About IndustryARC: IndustryARC is a research and consulting firm based out of the India, it publishes more than 20 reports every month in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare. Contact us to find out how we can help you today.