Advanced Driver Assistance System Market Growing Opportunity and Detailed Analysis of Competitive Landscape Forecast To 2026
North America advanced driver assistance system market is projected to record remarkable growth over the predicted timeframe. Earlier in 2019, the ADAS market of North America accounted for 30% of the overall industry share. This growth can majorly be contributed to the increasing awareness regarding the benefits of advanced safety systems among the driving population. Consumers nowadays are also willing to spend more on vehicle comfort features like self-driving technologies, ADAS and advanced infotainment systems.
To enable real-time monitoring and vehicle safety, continuous efforts are being made to develop new and advanced safety solutions. The introduction of these highly accurate advanced technologies in ADAS systems will eliminate the chances of missed detection and false alarm. Market share of forward collision systems was 5% in 2019 and is expected to reach US$3.5 billion by 2026.
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The advanced driver assistance system market is expected to witness tremendous growth on account of proliferating demand for vehicles with advanced safety features. Growing number of research and development activities centered around integrating technologies like AI to enhance passenger safety is stimulating the development of new ADAS systems.
Increasing vehicle safety regulations and standards globally will influence the advanced driver assistance system market trends in the coming years. To leverage competitive advantage, various companies form strategic agreements while introducing advanced technologies in the market. For an instance, Velodyne Lidar, Inc. bought Mapper.ai in July 2019 in a view to integrate mapping and localization software into its ADAS applications.
With the rise in demand for semi-automatic and automatic vehicles that are fully equipped with advanced technology, detecting any obstruction near the vehicle such as cars, cyclists and pedestrians is possible with LiDAR technology. The segment is expected to rise at nearly 10% CGAR from 2020 to 2026. The laser-based sensors create a 3D model of surroundings near the vehicle and helps in taking quick decision prior to any kind of collision.
Companies are involved in the continuous development of newly launched LiDAR system for autonomous vehicles, propelling potential growth for ADAS providers. Velodyne Lidar, Inc. in January 2020, announced the introduction of its brand-new “Velabit” for ADAS systems and autonomous vehicles and 3D LiDAR technology. To deal with the accident caused by over-speeding of the vehicles, various steps are being taken to authorize the consolidation of automated barking technologies and speed limiters.
In 2019, Advanced driver assistance system market share in North America was around 30% with growing awareness about advanced vehicle safety systems and luxury features such as self-driving technology, infotainment. The U.S., which is the home of major automobile companies such as Volvo, Fiat Chrysler and Ford, is adopting these latest advanced technologies, and creating a huge product demand for ADAS solutions.
Some major advanced driver assistance system market players developing and providing advanced driver assistance solutions are Continental AG, Delphi Technologies, Bosch Group, Autoliv, Inc., Valeo SA., Denso Corporation, Panasonic Corporation, Hyundai Mobis, and Texas Instruments. The outcome of technological enhancements encompass accurate data and information to identify and eliminates problems.
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Partial Chapter of the Table of Content
Chapter 6. Advanced Driver Assistance System Market, By Sensor (Revenue)
6.1. Key trends, by sensor
6.2. LiDAR
6.2.1. Market estimates and forecast, 2016 – 2026
6.3. Infrared
6.3.1. Market estimates and forecast, 2016 – 2026
6.4. Ultrasonic
6.4.1. Market estimates and forecast, 2016 – 2026
6.5. RADAR
6.5.1. Market estimates and forecast, 2016 – 2026
6.6. Image sensor
6.6.1. Market estimates and forecast, 2016 – 2026
Chapter 7. Advanced Driver Assistance System Market, By Vehicle (Revenue, Shipments)
7.1. Key trends, by vehicle
7.2. PCV
7.2.1. Market estimates and forecast, 2016 – 2026
7.3. LCV
7.3.1. Market estimates and forecast, 2016 – 2026
7.4. HCV
7.4.1. Market estimates and forecast, 2016 – 2026
Chapter 8. Advanced Driver Assistance System Market, By Distribution Channel (Revenue, Shipments)
8.1. Key trends, by distribution channel
8.2. OEM
8.2.1. Market estimates and forecast, 2016 - 2026
8.3. Aftermarket
8.3.1. Market estimates and forecast, 2016 - 2026
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