1 / 12

Advanced Driver Assistance Systems market Growth Analysis

The increasing demand for a safe, efficient, and convenient driving experience as well as the rising demand for luxury vehicles across the globe are the key factors driving the growth of the global ADAS market. Furthermore, government regulations that aim to minimize road accidents and loss of passenger lives, is favoring the marketu2019s growth.<br>

priyanka25avhad
Télécharger la présentation

Advanced Driver Assistance Systems market Growth Analysis

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Global Advanced Driver Assistance Systems (ADAS) Market- Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2021-2027

  2. Global Advanced Driver Assistance Systems (ADAS) Market- Industry Trends & Forecast Report 2027 According to a study conducted recently by thestrategic consulting and market research firm, BlueWeave Consulting, the global Advanced Driver Assistance Systems (ADAS) marketwas worth USD 24.7 billion in 2020 and is further projected to reach USD 54.2 billion by 2027, at a CAGR of 12.0% during the forecast period (2021-2027). The increasing demand for a safe, efficient, and convenient driving experience as well as the rising demand for luxury vehicles across the globe are the key factors driving the growth of the ADAS market. Additionally, the Original Equipment Manufacturers (OEMs) and government regulatory authorities are taking necessary steps to improve transportation by addressing major challenges like road accidents, traffic congestion, and the cost of transportation, which in turn is driving the market growth.

  3. Growth Drivers  Growing Concern Over Safety of Driver and Vehicle Safety features designed to enhance the safety of drivers, passengers, and pedestrians can contribute significantly to reducing the severity and number of motor vehicle accidents. In order to prevent collisions/accidents, ADAS warns drivers of potential dangers and assists them in maintaining control. Furthermore, it minimizes the severity of an accident if it cannot be avoided. With these cutting-edge technologies, auto manufacturers are designing a wide array of safety and convenience features to appeal to consumers, which is, in turn, driving the global market for ADAS.

  4. Restraints  The Lack of Required Infrastructure in Developing Countries The lack of basic infrastructures, such as well-organized highways, lane marking, and GPS availability in developing countries is making ADAS ineffective. Additionally, unorganized and poor infrastructure in developing countries, combined with cost considerations, and poor driver training/driving discipline, are stymying the growth of the ADAS market. Also, the high costs of these advanced systems due to huge R&D investments in their development, raise the vehicle’s production cost, further restraining the growth of the global ADAS market.

  5. Impact of COVID-19 COVID-19 has had a negative impact on the global ADAS market as it stalled the development of several industries, including the automotive industry which is one of the key end-users of ADAS. Additionally, nationwide lockdowns had a negative effect on vehicle sales, supply chain, and logistics, which in turn had stifled the growth of the ADAS sector.  As soon as the World Health Organization (WHO) declared the novel coronavirus as a pandemic, countries across the globe were compelled to implement a nationwide lockdown to prevent the spread of coronavirus. The lockdown restrictions hindered the growth of the global ADAS market by negatively impacting vehicle sales, logistics, and supply chains. Moreover, as a result of the pandemic's impact on China, Japan, and India, the ADAS market in the Asia-Pacific region was severely impacted.

  6. Regional Insights Geographically, the ADAS market is categorized into North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America. North America leads the global ADAS industry and is projected to dominate the market during the forecast period. The growth is mainly driven by the presence of major players, technological advancements, better infrastructure facilities for manufacturing, enhanced economic condition, and rapid penetration and mass adoption of ADAS by the original equipment manufacturers (OEMs) and customers. Additionally, the Asia-Pacific is likely to be the fastest-growing region over the forecast period owing to the increase in the number of luxury vehicles, technological advancements, and rising urbanization rates, which are positively influencing the market.

  7. Competitive Landscape Some of the key players in the global ADAS market are Robert Bosch, ZF Friedrichshafen, Denso, Aptiv, Brentwood Industries Inc., Enexio, Intel, NVIDIA, Continental, Valeo, Hella, Magna, Samsung, Aisin Seiki Co. Ltd, Delphi Technologies, Harman International, NXP Semiconductor, Panasonic Corporation, Hyundai Mobis, and other prominent Players. In order to improve their production capability, product portfolio, and provide competitive differentiation, the market players are increasingly participating in acquisitions, alliances, and mergers.

  8. Recent Development On 11 January 2021, Aptiv introduced next-gen ADAS platform for highly automated and electrified vehicles. The open and scalable ADAS framework, which is part of Aptiv’s Smart Vehicle Architecture, helps the software-defined vehicle minimize complexity and lower overall system costs. On 9 January 2021, NIO, a market leader in China’s premium smart electric vehicle market, entered into a partnership with American multinational technological company NVIDIA to develop a new generation of electric vehicles using NVIDIA DRIVE Orin system-on-a-chip (SoC) to offer advanced automated driving capabilities. NIO aims to make smart, high-performance electric vehicles more acceptable to consumers.

  9. Key Players Robert Bosch, ZF Friedrichshafen, Denso, Aptiv, Brentwood Industries Inc., Enexio, Intel, NVIDIA, Continental, Valeo, Hella, Magna, Samsung, Aisin Seiki Co. Ltd, Delphi Technologies, Harman International, NXP Semiconductor, Panasonic Corporation, Hyundai Mobis, Other Prominent Players Sample copy of the Report: https://www.blueweaveconsulting.com/report/global-advanced-driver-assistance-systems-adas-market-bwc19160/report-sample

  10. About Us: Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavors successful.

  11. Contact Us:  +1 866 658 6826 +1 425 320 4776 +44 1865 60 0662  info(@)blueweaveconsulting.com  www.blueweaveconsulting.com

More Related