The global advanced driving assistance system (ADAS) market is anticipated to witness a phenomenal growth at 15.9% CAGR during 2017 to 2025, finds an upcoming report by TMR.
The global advanced driver assistance system market was valued at US$11.83 bn in 2016 and is expected to increase up to US$43. 27 billion by the end of 2025. Due to the rising number of vehicles on road, there is an increasing demand for road safety for vehicles as well as for pedestrians. This is expected to aid in the staggering growth of the advanced driver assistance system market.
Demand for Electric Vehicles to Boost Advanced Driver Assistance System Market
The era of EV are setting in and is likely to bring in a transformation in the automotive industry and driving experience with the help of advanced driving assistance systems. The rising demand for electric vehicles coupled with ADAS is expected to be the future of the automotive industry.
The advanced driving assistance system offers fuel efficiency and enhanced mileage and performance. This could result in robust growth in the global advanced driver assistance system market in future.
The advanced driving assistance system offers assistance in steering control. The camera in ADAS uses radar sensors to find vehicles that are parked or are slowly moving to help avoiding collision of vehicles. This excellent feature is expected to aid in the expansion of the global driving assistance system market.
When the vehicle is at a halt or is stationary during traffic congestion the ADAS helps in automatically shutting off the vehicle and swiftly restarting it when the road is cleared. This results in fuel saving, consequently resulting in the growth of the global ADAS market.
Automatic sensors technologies in ADAS make driving safer and provides a seamless experience. During rains, the wipers get activated automatically and control the speed so that external obstructions do not hinder safe driving. It also helps in detecting if the driver is distracted from driving. The system monitors neck-and-eye movements of the driver to ensure that the driver is looking straight ahead. This can also be detected with steering movements. This helps in keeping a safety check, thus ensuring an outstanding driving experience on roads. This might help in the surge of the global advanced driver assistance system market.
Top automotive giants such as Volkswagen, Ford, General Motors, etc., are all already in the business of electric hybrid vehicles with ADAS. This could be considered as major factors pushing the advanced driver assistance system market ahead.
The lack of better infrastructure in underdeveloped countries may obstruct the growth in the global advanced driving assistance market in the upcoming years. Nonetheless, the stringent regulations by government and transport authorities may help in the expansion of the global advanced driving assistance system during the forecast period.
Asia Pacific to Stand Tall in Global Advanced Driver Assistance System Market
On the basis of geography, the global ADAS market is expected to be led by Asia Pacific. The growth will be due to rising demand for comfort and luxury driving, the emergence of smart cities with 5G networks, and stringent regulations on road safety.
North America and Europe are also projected to play a role in the growth of the global advanced driving assistance system during the forecast period. The growth can be attributed to the adoption of the latest technologies and enhanced infrastructure.
Some of the prominent players in the global advanced driver assistance system market include Delphi Automotive PLC, BMW AG, Audi AG, Hyundai Motor Company, Mahindra and Mahindra Ltd, Robert Bosch GmbH, Panasonic Corporation, and Ford Motor Company.
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