DUBLIN--(BUSINESS WIRE)--The "Global Advanced Driver Assistance System (ADAS) Market (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
The global ADAS market is expected to reach USD 31.95 Bn by 2023 with a CAGR of 21.1% during 2018-2023.
The increasing government initiatives for mandating driver assistance system in order to lower road accidents is expected to proliferate market growth. Higher adoption of these systems in small cars is anticipated to further boost the market demand. Rising levels of technological innovation as well as growing initiatives towards vehicle automation and self-drive cars have raised the demand for the safety of the driver and assistance systems over the past decade.
The adoption of ADAS applications such as ACC, BSD, LDW and night vision are leading to reduction in the number of accidents. It has been projected that the number of road accidents would increase in developing countries, thereby leading to market growth in terms of revenue. For instance, the European Union has mandated the automotive manufacturers to fit ADAS systems such as LDW and AEB systems in all heavy commercial vehicles weighing over 7,000 kgs.
The growth of the ADAS market is currently hindered by the growing incidence of software failures in sensors coupled with the high cost of these systems that have acted as major restraining factors for the wide acceptability of these systems. The forward-collision warning systems still have difficulty identifying objects when a vehicle is traveling at high speed.
Many of the most promising ADAS applications are still being refined or have not yet hit the market while others are expensive and mostly available in premium cars. But one of the most important factors inhibiting demand could be a lack of consumer awareness. Once consumers become familiar with ADAS, they will prefer cars with these features.
The key competitors in the global ADAS market are Continental AG, Autoliv Inc., Delphi Technologies, Denso Corporation, Bosch, Mobileye and others.
Key Topics Covered
Chapter 1. Executive Summary
Chapter 2. The Global ADAS Market - Market Overview
Chapter 3. Regional Market Overview
Chapter 4. Global Segment Overview
Chapter 5. North America - by Segment
Chapter 6. Europe - by Segment
Chapter 7. Asia Pacific - by Segment
Chapter 8. Latin America - by Segment
Chapter 9. The Middle East and Africa - by Segment
Chapter 10. Competitive Landscape
Chapter 11. Conclusion and Outlook
Companies Featured
1. Continental AG
2. Autoliv Inc.
3. Delphi Technologies
4. Denso Corporation
5. Bosch
6. Magna International
7. BMW AG
8. Ford Motor Company
9. Aisin Seiko Co.
10. Mobileye
For more information about this report visit https://www.researchandmarkets.com/research/lfgqdp/global_advanced?w=4
