The ADAS Market is estimated to be USD 24.24 billion in 2018 and is projected to reach USD 91.83 billion by 2025, growing at a CAGR of 20.96% during the forecast period.
Stringent regulations pertaining to vehicle safety across the globe, increasing demand for a safe, efficient, & convenient driving experience, and rising sales of luxury vehicles are the key factors driving the growth of the ADAS market. On the other hand, the lack of infrastructure in developing countries can hinder the growth of the market. For effective functioning, advanced driver assistance systems require basic infrastructures such as well-organized roads, lane marking, and availability of GPS. For highways, the information such as a lane change, object detection, distance between vehicles, traffic, and services such as navigation and connectivity is very important for vehicles equipped with ADAS. In developing countries like China, Brazil, and India, the development of IT infrastructure on highways is slow as compared to developed economies. Therefore, the lack of information technology communication infrastructure and lag in government norms are the major restraints for the growth of the ADAS market in developing regions.
"AEB segment to hold the largest share of the ADAS market, by the system"
Governments of developed countries have mandated the fitment of AEB in buses & trucks. For instance, Regulation No 661/2009 of the European Parliament and of the Council (dated 13 July 2009) mandated the inclusion of AEB system in buses & trucks. It also stipulated the standard fitment of LDW in the same vehicle categories and with the same deadlines as autonomous emergency braking systems. The system is expected to be equipped in all new commercial vehicles above 3.5 tons and buses from November 2013, and in all vehicles of these categories sold in the European Union from November 2015. In 2018, the South Korean government mandated AEB from January 2019 in all new passenger vehicles. These mandates will drive the growth of the AEB market in the near future.
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"Software: The fastest growing offering type of the ADAS market"
The software segment is estimated to be the fastest growing segment of the ADAS market, by offering. The main purpose of the software is to communicate autonomously with other devices. The increase in software content in the advanced applications of the vehicle is expected to drive the software segment of the ADAS market.
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"Asia Pacific: The fastest growing region in the ADAS market"
The Asia Pacific region is estimated to dominate the ADAS market and is projected to grow at the highest CAGR during the forecast period. Increasing demand for luxury vehicles and safety awareness among consumers would drive the growth of the ADAS market in the region.
The report analyzes all major tier I suppliers in the ADAS market. Robert Bosch (Germany), Continental (Germany), ZF Friedrichshafen (Germany), Intel (US), and Aptiv (UK) are some of the leading suppliers in the ADAS market.
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ADAS Market expected to be worth USD 91.83 billion by 2025, at a CAGR of 20.96%, from 2018 to 2025
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