Advanced Driver Assistance System (ADAS) Market Growth Predicted at Over 10% Till 2026: Global Market Insights, Inc.

SELBYVILLE, Del., June 29, 2020 (Newswire.com) - According to the latest report “Advanced Driver Assistance System Market by Technology (Adaptive Cruise Control, Automatic High Beam Control, Blind Spot Detection, Driver Monitoring, Forward Collision Warning, Front Lighting, Automatic Emergency Braking , Night Vision, Head-up Display, Lane Departure Warning, Park Assist, Surround View System, Traffic Sign Recognition, Tire Pressure Monitoring System), Sensor (LiDAR, Infrared, Ultrasonic, RADAR, Image Sensor), Vehicle (PCV, LCV, HCV), Distribution Channel (OEM, Aftermarket), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of ADAS technology will cross $60 billion by 2026.

The growth is majorly attributed to rising concerns about vehicle safety and increasing government regulations to integrate advanced safety systems into vehicles. Increasing research and development for the integration of advanced technologies, such as AI, for safety applications will further drive the advanced driver assistance system (ADAS) market growth. Companies are continuously involved in the development of new safety systems that enable real-time monitoring and vehicle safety. The adoption of these advanced technologies in ADAS systems will deliver high accuracy and considerably reduce the chances of missed detection and false alarms. Furthermore, companies are forming several strategic agreements to induce advanced technologies in their offerings and gain high competitiveness.

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The forward collision warning segment held a market share of over 5% in 2019 and is projected to reach USD 3.5 billion by 2026. These systems can detect an imminent strike, thereby alerting the driver on future collisions. Therefore, the system is experiencing high integration with vehicles to enable autonomous and semi-autonomous decision making. Furthermore, increasing automotive safety norms worldwide will create high-growth opportunities for the market.

The LiDAR segment in the advanced driver assistance system market is set to witness a growth rate of around 10% through 2026. The growth is majorly attributed to the rising adoption of semi-autonomous and autonomous vehicles to detect objects such as cyclists, cars, and pedestrians. These sensors use laser pulses to create a 3D model of the environment around vehicles and aid to take an effective decision in controlling the vehicle & avoiding a collision. Companies are continuously involved in the development of new LiDAR solutions for autonomous vehicles, creating high-growth opportunities for the market.

The HCV segment is anticipated to register a CAGR of around 5% from 2020 to 2026. Several regulations to mandate the integration of automated barking technologies and speed limiters are positively influencing ADAS market growth. Market players are also innovating new safety solutions to cater to the high demand from the HCV segment. In July 2019, Peloton announced the development of its new automated solution to improve the productivity of truck drivers. It also includes radar-based active braking systems that improve safety and fuel economy.

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North America's advanced driver assistance system (ADAS) market accounted for a revenue share of 30% in 2019, owing to rising awareness among the population on advanced safety systems and comfort features in vehicles such as infotainment, self-driving technologies, and ADAS. The U.S. is fast in adopting the latest technologies and has the presence of many automobile manufacturers, such as Ford, Volvo, & Fiat Chrysler, adding to the growth potential of the market.

Some of the key players operating in the market are Bosch Group, Autoliv, Inc., Continental AG, Denso Corporation, Delphi Technologies, Hyundai Mobis, Panasonic Corporation, Texas Instruments, and Valeo SA. Companies are focusing on new product developments and strategic partnership activities to innovate advanced ADAS technology and gain high competitiveness in the market.

Some major findings of the ADAS market report include:

• Rising consumer preferences for advanced safety systems in vehicles will drive market growth.
   
• Governments from several nations have introduced and mandated regulations on the integration of ADAS & other safety systems into vehicles to reduce the number of road accidents.
   
• Companies are focusing on the development of ADAS systems for mid-range & economy vehicles to increase their position in the market. They are further collaborating with technology providers to innovate ADAS systems, maintaining the cost-effectiveness of new-entry vehicles.
   
• Tire pressure monitoring technology is gaining significant adoption in commercial vehicles, as it delivers real-time status of temperature and pressure in tires. These features will further boost market opportunities for ADAS in the coming years.
   
• Government regulations to increase the bandwidth for RADAR technology will increase the adoption of radar sensors for blind-spot monitoring and object detection functionality of ADAS systems.

Table of Contents (ToC) of the report:

Chapter 3.      Advanced Driver Assistance System Market Insights

3.1.      Industry segmentation

3.2.      Industry landscape, 2016 – 2026

3.3.      Impact analysis of coronavirus (COVID-19) pandemic on the market

3.3.1.   Global outlook

3.3.2.   Impact by region

3.3.2.1.            North America

3.3.2.2.            Europe

3.3.2.3.            Asia Pacific

3.3.2.4.            Latin America

3.3.2.5.            MEA

3.3.3.   Industry value chain

3.3.3.1.            Research and development

3.3.3.2.            Manufacturing

3.3.3.3.            Marketing

3.3.3.4.            Supply

3.3.4.   Competitive landscape

3.3.4.1.            Strategy

3.3.4.2.            Distribution network

3.3.4.3.            Business growth

3.4.      Industry ecosystem analysis

3.4.1.   Component supplier

3.4.2.   Manufacturers

3.4.3.   Profit margin analysis

3.4.4.   Distribution channel analysis

3.4.4.1.            End users

3.4.4.2.            Aftermarket

3.4.5.   Vendor matrix

3.5.      Accidents and fatalities statistics, by region

3.6.      Industry trends

3.6.1.   Embedded vision

3.6.2.   Sensors

3.6.3.   Connectivity

3.6.4.   Automotive Systems Infrastructure

3.6.5.   Automotive HMI design

3.7.      Pricing trends, by region

3.7.1.   Regional Pricing

3.7.2.   Cost structure analysis

3.8.      Technology & innovation landscape

3.8.1.   Real-time mapping data and propulsion software optimization in ADAS

3.9.      Global automotive production overview, 2015-2019

3.10.    Regulatory landscape

3.11.    Industry best practices & key buying criteria 

3.11.1. Need recognition

3.11.2. Information Search

3.11.3. Evaluation of alternatives

3.11.4. Purchase decision

3.11.5. Post-purchase behavior

3.12.    Industry impact forces

3.12.1. Growth drivers

3.12.2. Industry pitfalls and challenges

3.13.    Growth potential analysis

3.14.    Porter’s analysis

3.14.1. Industry rivalry

3.14.2. Threat of new entrants

3.14.3. Buyer power

3.14.4. Supplier power

3.14.5. Threat of substitutes

3.15.    PESTEL analysis

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About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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Source: Global Market Insights, Inc.