Advanced Driver Assistance Systems Market Growing despite COVID-19 Pandemic
The global advanced driver assistance systems market is expected to exhibit a robust 13.6% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The report from MRFR profiles the global advanced driver assistance systems market in detail and provides a comprehensive overview of all relevant factors affecting the global advanced driver assistance systems market. The major drivers and restraints affecting the global advanced driver assistance systems market are analyzed in detail in the report. Major players operating in the global advanced driver assistance systems market are also profiled in the report, giving readers a clear overview of the competitive landscape of the market. The impact of the COVID-19 pandemic on the global advanced driver assistance systems market is also assessed in the report.
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Advanced driver assistance systems are automated systems that perform various tasks in automobiles and make it easier for drivers to drive and manage the vehicle. Advanced driver assistance systems also include systems designed to protect drivers from accidents. The increasing demand from consumers for premium automobiles that include such advanced driver assistance systems is likely to be a major driver for the global advanced driver assistance systems market over the forecast period. Due to their high technological sophistication, advanced driver assistance systems are usually only available on top-of-the-line models of automobiles. Thus, the growing demand for premium automobiles is likely to be a major driver for the global advanced driver assistance systems market. The growing prestige factor in owning a premium automobile is likely to drive the demand for premium vehicles over the forecast period. This is likely to remain a major driver for the global advanced driver assistance systems market over the forecast period.
Many governments around the world have also mandated the use of several advanced driver assistance systems in cars in order to ensure a higher standard of safety on the roads. Safety systems used in cars include drowsiness monitoring systems, lane departure warning systems, and tire pressure monitoring systems. The mandatory inclusion of such as other advanced driver assistance systems in automobiles is likely to be a major driver for the global advanced driver assistance systems market over the forecast period.
Segmentation:
The global advanced driver assistance system market is segmented on the basis of type, technology, and region.
By type, the global advanced driver assistance system market is segmented into adaptive cruise control, adaptive front-lighting system, intelligent park assist, pedestrian protection, blind-spot detection, drowsiness monitor, a head-up display, and others.
By vehicle type, the global advanced driver assistance system market is segmented into passenger vehicles and commercial vehicles. The passenger vehicles segment is likely to dominate the market over the forecast period.
By sensor type, the global advanced driver assistance system market is segmented into RADAR, LiDAR, camera, and ultrasonic. The RADAR segment is likely to dominate the global market over the forecast period.
Competitive Leaderboard:
Leading players in the global advanced driver assistance systems market include Renesas Electronics Corporation, Texas Instruments Inc., Hella KGAA Hueck & Co., Robert Bosch GmbH, Magna International, Hitachi Ltd., Continental AG, Autoliv Inc., Gentex Corporation, and Delphi Automotive plc.
Regional Analysis:
North America dominates the global advanced driver assistance system market and is likely to remain dominant over the forecast period due to the strong presence of several leading automotive firms in the region. North America has always been a major powerhouse in the automotive industry and is likely to prosper over the forecast period due to the strong presence of major automotive companies in the region. Technological advancements in automotive technology are often developed and innovated in North America, thanks to the heavy investment in research and development from major automotive players in the region.
Europe is also a major regional market for advanced driver assistance systems and is likely to witness steady growth of the advanced driver assistance systems market over the forecast period.
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