Advanced driver assistance system (ADAS) refers to systems that assist drivers in controlling their vehicles with automated system and sensor. ADAS provides comfort to the drivers by ensuring easy handling of the vehicle while driving and parking, and avoids accidents through several warnings and alarms. The market size in the report includes market at OEM, as well as aftermarket levels. The others segment in the system component of ADAS market includes night vision system and driver monitoring system.
The global ADAS market is growing, due to increasing demand for safety and comfort features in the vehicles, government regulations and initiatives related to vehicle safety, and growth in the number of high net worth individuals. The advancement in technology has been laying opportunities for the global market, as the customers like to upgrade their vehicles into a more integrated version.
The major restraints for the ADAS market includes high cost of ADAS, complex testing and validation procedure of ADAS system and poor performance of certain applications of ADAS in bad weather condition.
Geographically, Asia-Pacific is the fastest growing ADAS market, due to the growing demand for premium vehicles in the region. The number of HNIs in the region has escalated significantly in the recent past leading to the increasing demand for high-end cars. China and India are among the forerunners among all the countries in the region, where the number of HNIs have increased significantly.
The key players in the global ADAS market include Autoliv Inc., Magna International Inc., Robert Bosch GmbH, Continental AG, Denso Corporation, Valeo, BMW AG, Audi AG and Ford Motors Company.
