BREAKING NEWS: Samsung, one of the largest smartphone manufacturers, plans to enter the connected car market. The company has established a Samsung automotive innovation fund of about USD 300 million to invest in tech startups and has already invested in TTTech, an Austria- based safety software and platform creator. Similarly, since the beginning of 2017, Ford and Volkswagen have also invested USD 1 billion and USD 180 million, respectively, in such companies.
The advanced driver assistance systems (ADAS) market was valued at USD 22.69 billion in 2015 and is projected to reach USD 78.19 billion by 2020, at a CAGR of over 28% during 2017-2023 (the forecast period). The demand for fuel-efficient vehicles, along with an increasing need for road safety systems, are expected to boost the global demand for ADAS significantly.
Over the last few years, growing concerns about automotive safety among consumers has resulted in high demand for advanced safety features, especially for low and mid-price segment vehicles. The dynamics of the global automotive industry are also changing rapidly. Automobile manufacturers expect that the demand for mid-price segment cars will increase by 20% by 2020. These vehicles are equipped with basic components that have been designed and manufactured as per consumer preferences. ADAS manufacturers, like Autoliv and Continental, are collaborating with OEMs to develop and manufacture low-cost driver assistance systems. The move is expected to help manufacturers to attain economies of scale and reduce the price of ADAS, and thereby, increase implementation of ADAS in low-cost cars in the future. A consistent increase in the demand for compact and mid-size automobiles, equipped with advanced safety features, is also expected to propel the market’s growth.
Driver Assistance Systems- Factors Influencing growth of the market.
The development of driver assistance systems is governed and regulated by international safety standards, like IEC-61508 and ISO-26262, as these systems depend on electronics for their functionality. In the United States, the FMCSA aims to reduce the number of fatalities and accidents involving passenger vehicles, large trucks, and buses. The key safety goal of the US federal motor carrier safety administration (FMCSA) is to reduce the number and severity of commercial motor vehicle (CMV) crashes. To achieve this goal, the FMCSA has collaborated with the truck industry to test, evaluate, and facilitate the use of various onboard safety systems for commercial vehicles to improve the safety of pedestrians. In addition, initiatives, like the national highway traffic safety administration (NHTSA)'s safecar Project, have helped to significantly drive the adoption of ADAS systems in domestic vehicles of North America, in turn acting as a driver for the market growth in the region.
The European automotive industry is one of the major and most innovative automotive markets in the world. With a massive transformation in the industry post the recession period of 2010, there has been rapid market penetration and mass adoption of ADAS among customers. There are regular upgrades in the ADAS technology that facilitate competitiveness in the market, making it one of the largest markets in the global ADAS industry.
The growth of the ADAS market is currently hindered by the growing incidence of software failures in sensors, coupled with the high costs of these systems that have acted as major frictional factors for the wide acceptability of these systems. However, the rapidly expanding hybrid and electric vehicle market, along with the growth of the autonomous vehicles, are expected to help augment the ADAS in these vehicles, thereby driving the growth of the market significantly, during the forecast period.
The global ADAS market is segmented on the basis of type, technology, and geography.
On the basis of geography, the market has been segmented into North America (United States, Canada, others), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, others), Asia-Pacific (China, Japan, India, Australia, South Korea, others), Middle East & Africa (UAE, Saudi Arabia, Israel, others), and Latin America (Brazil, Argentina, Mexico, others).
Some of the key players in the global ADAS market are:
Why purchase the report?
To know whether BMW’s recent joint venture with Continental, Intel, and Mobileye is a step to dominate the ADAS market
To know the extent to which the advent of electric vehicles is expected to affect the ADAS market
To know how much the ADAS is expected to help in the transition of vehicles toward autonomous vehicles
To know whether Europe will still lead the way in the future or be overpowered by Asia-Pacific
1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Study Assumptions
2.4 Econometric Forecast Model
3. Executive Summary
4. Key Findings of the Study
5. Market Overview and Technology Trends
5.1 Current Market Scenario
5.2 Technology Trends
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitute Products/Services
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
6. Market Dynamics
6.4 Value and Supply Chain Analysis
7. Global Adas Market Segmentation by Type
7.1 Parking Assist System
7.2 Adaptive Front-Lighting System (Afs)
7.3 Night Vision System
7.4 Blind Spot Detection
7.5 Advanced Emergency Braking System (Aebs)
7.6 Collision Warning
7.7 Electronic Stability Control (Esc)
7.8 Driver Drowsiness Alert
7.9 Traffic Sign Recognition Market
7.10 Lane Departure Warning System (Ldws)
7.11 Adaptive Cruise Control
8. Global Adas Market, by Technology
8.1 Image Sensors
8.2 Ultrasonic Sensors
8.3 Laser Sensors
8.4 Radar Sensors
8.5 Infrared Sensors
9. Global Adas Market, by Geography
9.1 North America
9.1.2 the United States
9.2.3 United Kingdom
9.3.6 South Korea
9.4 Middle East and Africa
9.4.3 Saudi Arabia
9.4.4 South Africa
9.5 South America
10. Competitive Landscape
10.2 Market Share Analysis
10.3 Key Players and Developments
11. Company Profiles
11.1 Aisin Seiki Co. Ltd
11.2 Hella Kgaa Hueck & Co
11.3 Samvardhana Motherson (Smr)
11.4 Panasonic Corporation
11.5 Autoliv Inc.
11.7 Zf Trw
11.8 Denso Corporation
11.9 Delphi Automotive Plc
11.10 Robert Bosch Gmbh
11.11 Valeo S.A.
11.12 Magna International
11.14 Hyundai Mobis
11.15 Continental Ag
- Aisin Seiki Co. Ltd
- Hella Kgaa Hueck & Co
- Samvardhana Motherson (Smr)
- Panasonic Corporation
- Autoliv Inc.
- Zf Trw
- Denso Corporation
- Delphi Automotive Plc
- Robert Bosch Gmbh
- Valeo S.A.
- Magna International
- Hyundai Mobis
- Continental Ag