Automotive ADAS Aftermarket to Grow Over $ 2 Billion During 2020-2024| APAC to Offer Maximum Growth Opportunities | Technavio

LONDON--(BUSINESS WIRE)--Technavio has been monitoring the automotive ADAS aftermarket and it is poised to grow by USD 2.04 bn during 2020-2024, progressing at a CAGR of over 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive ADAS aftermarket. The market growth in 2020 is likely to increase compared to the market growth in 2019.

Frequently Asked Questions:

• Based on segmentation by technology, which is the leading segment in the market?
  The passive car assists segment led the market in 2019.
• What are the major trends in the market?
  Growing online purchase of aftermarket ADAS is a major trend in the market.
• At what rate is the market projected to grow?
  The market is projected to grow at a CAGR of over 9% during 2020-2024.
• Who are the top players in the market?
  Brandmotion LLC., Continental AG, Garmin Ltd., Gentex Corp., Intel Corp., Knorr-Bremse AG, Nortek Security & Control LLC, Valeo SA, VOXX International Corp., and WABCO Holdings Inc. are the top players in the market.
• What are the key market drivers and challenges?
  The market is driven by the growing emphasis on automotive safety. However, the shortage of skilled automotive technicians will challenge growth.
• How big is the APAC market?
  APAC dominated the market with a 33% share in 2019.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Brandmotion LLC., Continental AG, Garmin Ltd., Gentex Corp., Intel Corp., Knorr-Bremse AG, Nortek Security & Control LLC, Valeo SA, VOXX International Corp., and WABCO Holdings Inc. are some of the major market participants. Although the growing emphasis on automotive safety will offer immense growth opportunities, the shortage of skilled automotive technicians is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this automotive ADAS aftermarket forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Automotive ADAS Aftermarket 2020-2024: Segmentation

Automotive ADAS Aftermarket is segmented as below:

• Technology
  • Passive Car Assists
  • FCWS And LDWS
  • Others
• Geographic Landscape
  • APAC
  • Europe
  • North America
  • South America
  • MEA

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Automotive ADAS Aftermarket 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive ADAS aftermarket report covers the following areas:

• Automotive ADAS Aftermarket Size
• Automotive ADAS Aftermarket Trends
• Automotive ADAS Aftermarket Industry Analysis

This study identifies growing online purchase of aftermarket ADAS as one of the prime reasons driving the Automotive ADAS Aftermarket growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Automotive ADAS Aftermarket 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist automotive ADAS aftermarket growth during the next five years
• Estimation of the automotive ADAS aftermarket size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the automotive ADAS aftermarket
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of automotive ADAS aftermarket vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

• 2.1 Preface
• 2.2 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Market segmentation analysis
• Value chain analysis

PART 04: MARKET SIZING

• Market definition
• Market sizing 2019
• Market outlook
• Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

PART 06: MARKET SEGMENTATION BY TECHNOLOGY

• Market segmentation by technology
• Comparison by technology
• Passive park assists - Market size and forecast 2019-2024
• FCWS and LDWS - Market size and forecast 2019-2024
• Others - Market size and forecast 2019-2024
• Market opportunity by technology

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

PART 11: MARKET TRENDS

• Growing development of aftermarket ADAS for CVs
• Development of highly accurate map content for ADAS
• Growing online purchase of aftermarket ADAS

PART 12: VENDOR LANDSCAPE

• Overview
• Landscape disruption
• Competitive scenario

PART 13: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Brandmotion LLC
• Continental AG
• Garmin Ltd.
• Gentex Corp.
• Intel Corp.
• Knorr-Bremse AG
• Nortek Security & Control LLC
• Valeo SA
• VOXX International Corp.
• WABCO Holdings Inc.

PART 14: APPENDIX

• Research methodology
• List of abbreviations
• Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

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