Advanced Driver Assistance System (ADAS) Market size was valued at US$ 18.85 Billion in 2020 and the total Advanced Driver Assistance System (ADAS) Market revenue is expected to grow at 16.5% through 2021 to 2027, reaching nearly US$ 54.90 Billion.
The high cost of installing applications in vehicles may limit the growth of the advanced driver assistance systems market, as this factor raises the cost of the vehicle. The possibility of including premium features in vehicles incurs additional costs for consumers in the form of hardware, applications, and telecom service fees. Furthermore, due to the numerous electronic components and sensors, the vehicle's serviceability is difficult and requires skilled workers.
Advanced Driver Assistance System ADAS Market Scope:
The industry for Advanced Driver Assistance System ADAS market is expected to grow at the quickest CAGR between 2022 and 2029. This report provides market estimates and approximations. The Advanced Driver Assistance System ADAS Market's trends, challenges, and opportunities are examined and analysed in this stellar market research (SMR) assessment. This study's objective is to offer a strategic overview of the Advanced Driver Assistance System ADAS market in terms of recent growth trends, projected future growth, and key submarket contributors. North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and South America are all included in the SMR analysis, which also includes a country-by-country segmentation. The analyses of key strengths, market positioning, and strategy orientations of significant industry actors are looked at. Along with information on their most recent competitive triumphs, investments, strategic objectives, and competitive climate, profiles of the leading players in the market are also given.
Advanced Driver Assistance System ADAS Market Overview:
Along with the company's strategy, operational procedures, and expansion-oriented financial approach, the Stellar Market Research (SMR) report analyses the manufacturer's issues and market growth factors. Some customers' needs might be met by being adaptable and well understanding market prospects. Stellar Market Research examines the market's leading rivals as well as the general competitive environment. This market report on Advanced Driver Assistance System ADAS market might be useful for structuring, given the state of the business at the moment.
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Advanced Driver Assistance System ADAS Market Dynamics:
Because of the rise in traffic accidents, there is a greater demand for safety features such as parking assistance, collision avoidance systems, lane departure warning, traction control, electronic stability control, tyre pressure monitoring, airbags, and telematics. Vehicles equipped with the ADAS system can detect and classify specific road objects, alert the driver based on road conditions, and, in some cases, automatically slow down or stop the vehicle.
Advanced Driver Assistance System ADAS Market Segmentation:
Leading OEMs incorporate ADAS solutions to improve security and attract more customers. As a result, standardise safety systems across models or offer them as an optional feature. The main factors driving the growth of the ADAS market are increased safety awareness and an increase in the number of accidents, and demand for radar sensors is increasing in major countries such as China, the United States, and Europe. The use of 24GHz radar in the 5GHz band is prohibited by the Federal Communications Commission (FCC) and the European Telecommunications Standards Institute (ETSI).
Key Players:
Valeo (France)
Magna International (Canada)
Hyundai Mobis (South Korea)
Veoneer (Sweden)
Robert Bosch (Germany)
Continental AG (Germany)
Denso (Japan)
Aptiv (UK)
ZF Friedrichshafen (Germany)
Autoliv Inc. (Sweden)
NXP Semiconductors (Netherlands)
Panasonic Corporation (Japan)
Renesas Electronics Corporation (Japan)
Texas Instruments (USA)
Delphi Automotive Company (USA)
Hyundai Mobis (South Korea)
Takata Corporation (Japan)
ZF Friedrichshafen AG (Germany)
Aisin Seiki Co., Ltd. (Japan)
Mobileye N.V (Jerusalem)
Harman International Industries (USA)
NVIDIA Corporation(USA)
Hitachi Ltd. (Japan)
Stonkam Co., Ltd. (China)
Advanced Driver Assistance System ADAS Market Regional Analysis:
The five primary regions of the Advanced Driver Assistance System ADAS market are Europe, North America, Asia-Pacific, the Middle East and Africa, and South America.
COVID-19 Impact Analysis on Advanced Driver Assistance System ADAS Market:
The total market has been hit by COVID-19, and the growth rate has also been impacted in 2019–2020 as the effect of COVID–19 spreads. The COVID-19 crisis is forcing businesses and organisations to manage risk and digitise operations in order to provide reliable information and experiences to decision-makers. This is according to SMR most recent research, viewpoints, and insights on the management issues that matter most to businesses and organisations about the market.
Key Questions answered in the Advanced Driver Assistance System ADAS Market Report are:
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About Stellar Market Research:
Stellar Market Research is an Indian consulting firm that was founded in 2018. It specialises in offering clients long-term planning and advisory services to help them achieve their organisational transformation goals. The organisation uses its extensive network and in-depth knowledge of the industry to produce informed comments on reports that give clients a tactical edge. Clients have access to a market portfolio that will help their company build a strong presence over time, prepare for outcomes, and take the essential actions for exceptional growth and market supremacy. A lot of weight is placed on secondary market analysis, consumer purchasing patterns, and pricing variations.
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Advanced Driver Assistance System ADAS Market , Europe Caravan and Motorhome Market
Stellar Market Research is an Indian consulting firm that was founded in 2018. It specialises in offering clients long-term planning and advisory services to help them achieve their organisational transformation goals.
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Nov 24, 2022
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