Advanced Driving Assistance System Market Scope
Advanced driver assistance systems (ADAS), becoming far more common in modern-day vehicles, are designed to assist a driver in the process of driving and making the experience safe, comfortable and simpler. The growth in per capita income and government safety regulations in most of the developed countries are adding to the germinations of the safety systems in the automotive sector. At present, ADAS system based on automotive Internet of Things (IoT), help drivers in avoiding on-road collisions by generating alerts on potential hazards while driving and allow the drivers to take timely control of the vehicle.
According to AMA, the Global Advanced Driving Assistance System market is expected to see growth rate of 18.98%In the current scenario, automotive manufacturing companies are embracing connected and smart technologies to offer safer and future-ready vehicles by investing in Advanced Driver Assistance Systems (ADAS). Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Advanced Driving Assistance System market throughout the predicted period.
Continental AG (Germany), Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Intel Corporation (United States), Aisin Seiki Co. Ltd. (Japan), Autoliv Inc. (Sweden), DENSO Corporation (Japan), Valeo (France), Magna International Inc. (Canada), HELLA GmbH & Co. KGaA (Germany) and Ficosa Internacional SA (Spain) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Mando Corporation (South Korea), Texas Instruments (United States) and Hitachi (Japan).
Segmentation Overview
The study have segmented the market of Global Advanced Driving Assistance System market , by Application (Passenger Car and Commercial Vehicle (Light commercial vehicle, Heavy commercial vehicle)) and Region with country level break-up.
On the basis of geography, the market of Advanced Driving Assistance System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
The Growth in Sales of Electric Vehicles in Developed Nations and Rapid Development and Implementation of ADAS Technologies in European Countries and the United States
Market Growth Drivers:
Several Countries Government Regulations Pertaining to Vehicle Safety, Increase in Demand for A Safe, Efficient, and Convenient Driving Experience and Growth in Demand for Luxury Cars in both Developing and Developed Nations
Challenges:
Environment Constraints Pose A Challenge for ADAS and Maintaining A Balance Between Cost & Quality among Market Players
Restraints:
Lack of Infrastructure in Developing Countries, Complex & Expensive Features in Advanced Driving Assistance System and Increasing Security Threats
Opportunities:
The Advent of Autonomous Vehicles
In April 2018, Robert Bosch has developed a highway assist system to help drivers keep their vehicle in the lane in order to mitigate an accident. The new Bosch highway assist system is installed on the 2018 Maserati Ghibli, Levante, and Quattroporte.
European Union and the United States are mandating that all vehicles be equipped with autonomous emergency braking systems and forward-collision warning systems by 2020.
Key Target Audience
Advanced Driving Assistance System Manufacturers, Advanced Driving Assistance System Component Manufacturers, Electronic Manufacturing Companies, Technology Providers, Software Development Companies, Government Regulatory Bodies, Automotive Companies and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.