ADVANCE DRIVER ASSISTANCE SYSTEM MARKET ANALYSIS

The advance driver assistance systems (ADAS) are used to assist the driver and enhance safety in terms of crash avoidance. Moreover, the ADAS tries to reduce the severity of the crashes by using solutions such as intelligent speed adaptation and automatic braking systems. The ADAS uses several types of sensors such as Camera Unit, LiDAR, Radar Sensor, and Ultrasonic Sensors to detect the objects on the roads.

Increasing vehicle accidents and partnership among market players to develop ADAS Systems is expected to propel the market growth during the forecast period.

Every year about 1.3 million people lose their lives in the road accidents across the globe, according to Coherent Market Insights’ analysis in 2021. The increasing awareness about vehicle safety is propelling vehicle buyers to adopt the advance driver assistance systems. To cater to the increasing demand for ADAS, the auto manufacturers are also increasing the production of ADAS. For instance, in February 2020, Continental AG, a key automotive part manufacturer, announced that the company would construct a production plant in Texas, U.S. for ADAS System. The company would invest around US$ 109 million for construction of plant and systems over the next three years. Moreover, in November 2020, Denso Corporation, global automotive components manufacturer, partnered with Metawave Corporation, a U.S.-based company, to develop the advanced radar systems for the self-driven cars. Owing to above mentioned parameters the advance driver assistance market is expected to show significant growth during the forecast period 2021-2028.

The high initial cost of ADAS is expected to restrain the market growth during the forecast period.

Global Advance Driver Assistance System Market Taxonomy

On the basis of Type, the Global Advance Driver Assistance System Market is segmented into:

• Tire Pressure Monitoring System (TPMS)
• Drowsiness Monitor System
• Intelligent Parking Assist System (IPAS)
• Adaptive Cruise Control System
• Blind Spot Object Detection System
• Lane Departure Warning System
• E-Call System
• Road Sign Assistance
• Autonomous Emergency Braking
• Others

On the basis of Component, the Global Advance Driver Assistance System Market is segmented into:

• Hardware
• Software
• Services

On the basis of Sensor Type, the Global Advance Driver Assistance System Market is segmented into:

• Camera Unit
• LiDAR
• Radar Sensor
• Ultrasonic Sensors
• Others

On the basis of Propulsion Type, the Global Advance Driver Assistance System Market is segmented into:

• IC Engine Vehicle
• Electric Vehicle
  • Battery Electric Vehicles (BEV)
  • Hybrid Electric Vehicles (HEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)
  • Fuel Cell Electric Vehicle (FCEV)

On the basis of Vehicle Type, the Global Advance Driver Assistance System Market is segmented into:

• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle

On the basis of Region, the Global Advance Driver Assistance System Market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Major players operating in the global advance driver assistance system market include Aptiv, Continental AG, Denso, Hyundai Mobis, Magna International, Robert Bosch, Valeo, Veoneer, ZF Friedrichshafen, and others