ADAS Market Size, Trends, Scope and Growth Analysis to 2030

Description

ADAS (Advanced Driving Assistance System) Market: by Vehicle type (Level 0-5), by Sensor Type (Long-Range Radar (LRR), Short-Range Radar and Medium Range Radar (SRR-MRR), Infrared (IR), Camera Forecast, Lidar Forecast, Ultrasonic Forecast)– Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

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Advanced driving assistance system market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating in the global market. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the ADAS market.

Global ADAS Market Research Research Report, 2018-2025 (USD Billion)

ADAS Industry Overview

Global ADAS market size is projected to be valued at USD 25.0 billion in 2019 and grow at a CAGR of 8.0% during the forecast period, 2020-2025. The introduction of autonomous vehicles is estimated to create new opportunities in the automobile industry. ADAS technologies have significantly solved the complexity of driving, such as stability controls, blind spots, emergency braking, and lane monitoring, among others in the autonomous and traditional vehicles. 

Factors affecting the ADAS market over the forecast period

• Increasing concern regarding vehicle safety and to reduce vehicle maintenance and service cost is expected to fuel the ADAS market growth.
• Key manufacturers focus on integrating advanced technology in the ADAS solutions to achieve higher safety, attracting the automotive OEMs to install ADAS in their vehicles.
• Moreover, prominent automobile OEMs standardize ADAS in their vehicles as additional features, including radar sensors, LiDAR, and ultrasonic sensors.
• In addition to its functional requirements, ADAS also secured the vehicles from hackers who infiltrate the system to gain control of the vehicles
• Lack of Proper Infrastructure in Developing Economies
• ADAS requires proper infrastructure such as lane marking, well-organized roads, and good internet and GPS
• Poor infrastructure in rural areas cost considerations, and inadequate driving training or driving discipline is expected to hamper the ADAS market growth

Impact of COVID-19 on ADAS Market

The COVID-19 pandemic has disrupted the global ADAS, and companies have been forced to restructure their plans to cope with the pandemic. The automotive industry is influenced by COVID-19 in three major ways: by impacting production and demand, by disturbing supply chain and market, and by its financial effect on companies. Owing to manufacturing discrepancies and global economic issues, several companies have delayed their plans. To prevent the spread of coronavirus, workers have either returned to their hometowns which have significantly affect the production.

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Scope of the Report

The report outlines the study of the ADAS market-based sensor type, application, level of automation, and vehicle type

Based on the sensor type, the ADAS market is segmented into-

• Long-Range Radar (LRR)
• Short Range Radar and Medium Range Radar (SRR-MRR)
• Infrared (IR)
• Camera Forecast
• Lidar Forecast
• Ultrasonic Forecast

Based on the level of automation, the ADAS market is segmented into-

• Level 0
• Level 1
• Level 2
• Level 3
• Level 4
• Level 5

Based on application, the ADAS market is segmented into-

• Adaptive cruise control(ACC) 
• Lane departure warning systems
• Forward collision warning system
• Traffic sign recognition system
• Tire pressure monitoring systems
• Night vision and pedestrian detection
• Parking assistance systems

Based on vehicle type, the ADAS market is segmented into-

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

ADAS Market by Vehicle Type, 2018-2025 (USD Million)

Source: MSG Analysis, 2020

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ADAS Market: Geographical Outlook

ADAS market is segmented into the following regions, namely, North America, Asia Pacific, South America, Europe, and the Middle East and Africa (MEA), which have been segmented into global ADAS. In the ADAS market, North America held the largest share, followed by the Asia Pacific and Europe. The launch of new and creative technologies is boosting the ADAS. Moreover, Asia Pacific is the fastest-growing market and, over the forecast period is expected to project the highest CAGR in the global market.

ADAS Market Growth by Region, 2020-2025

Source: MSG Analysis, 2020

Key Competitors Operating in the global ADAS Market

The global ADAS market is highly consolidated, with the presence of a new number of players in the global ADAS market across the globe. The key players operating in the global ADAS market are Robert Bosch, Continental AG, ZF Friedrichshafen, Valeo, Magna International, and Denso Corporation. Some key developments in the ADAS market are:

• In February 2020, Continental announced a new production plant for ADAS in Texas, US, with an investment of USD 109 million over the next 3 years. The new production facility will manufacture radars from 2021
• In January 2020, ZF launched ZF coASSIST, a Level 2+ automated driving system, which is its first step into the modular Level 2+ hardware and software suite and highlights ZF’s capabilities as a full system supplier. From 2020, ZF will equip production vehicles with this new ZF system for a major Asian manufacturer

The ADAS report provides a thorough analysis of macro-economic factors and the market attractiveness of every segment. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the presence of the market players in the respective segment and region/country. The information concluded in the report includes the inputs 

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Regional Analysis Includes:

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe) 
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific) 
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA

ADAS Market: Target Audience

• ADAS manufacturers
• Automobile manufacturers
• Automotive OEMs
• Trade publications and magazines
• Government authorities, associations, and organizations

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Article source: https://article-realm.com/article/Finance/21398-ADAS-Market-Size-Trends-Scope-and-Growth-Analysis-to-2030.html