The global advanced driver assistance system market is foreseen to witness significant growth, owing to increasing urbanization and industrialization during the forecast period 2021 to 2030.
Researchmoz demystifies the advanced driver assistance system market by shedding some light on market size, opportunities, trends, drivers, restraints, product segmentation, and competitive edge.
The advanced driver assistance system market is expected to witness noteworthy growth owing to advanced technological development and its global adoption.
The global advanced driver assistance system market is projected to grow CAGR of 11.4% between 2021 to 2030. The estimated market value in 2021 was USD27.52bn and it is projected to witness an estimated value of 58.59bn by 2030.
Factors Driving and Restraining the Market
The global advanced driver assistance system market shows an impressive growth opportunity during the forecast period. Let’s sneak peek into the factors that are expected to drive the market.
- The increasing number of accidents and need for safety measures are projected to drive the advanced driver assistance market in the coming years.
- The ADAS offers a wide range of benefits higher efficiency, safety, comfort, and seamless driving experience, thus owing to the market expansion.
- The increasing disposable income among consumers and urban lifestyle is leading the way to boost the production and sales of the advanced driver assistance system market.
- Further, the ADAS offers safety benefits to not just the driver, but also the passengers and pedestrians, thus reducing the mishaps and owing to the expansion of the market during the forecast period.
The global advanced driver assistance system market is fragmented and faces cutthroat competition.
The presence of prominent market players makes it highly competitive as these players are constantly focusing on introducing new products by leveraging technology to its best.
Further, some of the other strategies that key players leverage are collaborations and mergers to expand their market presence and position themselves for better profitability.
Request A Sample: https://www.researchmoz.us/request-free-sample/?reportid=616
The major players in the global advanced driver assistance system market include-
- Robert Bosch GmbH
- Continental AG
- DENSO CORPORATION
- Magna International Inc.
- Aptiv PLC
- ZF Freidrichshafen AG
- Valeo SA
- Aisin Seiki Co. Ltd
- Harman International
- GENTEX CORPORATION
- Hyundai Mobis
- Panasonic Corporation
- NXP Semiconductor
- Renesas Electronics Corporation
System Types Disposition (Revenue in USD billion)
- Adaptive Cruise Control System
- Blind Spot Detection
- Park Assist
- Lane Departure Warning System
- Autonomous Emergency Braking
- Tire Pressure Monitoring
- Heads-Up Display
- Intelligent Headlight
- Forward Collision Warning
- E- Call System
Component Type Disposition (Revenue in USD billion)
Vehicles Types Disposition (Revenue in USD billion)
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
- North America (United States, Canada, Mexico)
- Europe (Germany, UK, France, Italy, Spain, Others)
- Asia-Pacific (China, Japan, India, South Korea, Southeast Asia, Others)
- The Middle East and Africa (Saudi Arabia, UAE, South Africa, Others)
- South America (Brazil, Others)