Advanced Driver Assistance Systems (ADAS) Market by System Type, Sensor Type and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2019-2026.
PORTLAND, OREGON, UNITED STATES, December 24, 2021 /EINPresswire.com/ – High demand for safety devices, strict safety rules and regulations and increased demands on comfort are driving the whole world ADAS market growth. However, the high initial cost, complex structure, and lower efficiency in bad weather are holding back the growth of the market. On the other hand, technological advancements in advanced driver assistance systems and the production of multifunctional systems are expected to provide growth opportunities for the market.
Segment of Adaptive Front Lighting Systems dominated in terms of revenue:
According to the type of system, the adaptive front lighting systems segment accounted for the major share in 2018, contributing more than a fifth of the total share. This is due to the ability of adaptive front lighting systems to enhance the driving experience while improving the safety of pedestrians and occupants. On the contrary, the Tire Pressure Monitoring System (TPMS) is expected to register the highest CAGR of 28.6% from 2019 to 2026. This is attributed to factors such as improving safety, preventing accidents, efficient fuel consumption, etc.
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The radar sensors segment will retain its dominant share by 2026:
Based on the type of sensor, the radar sensors segment held the highest market share in terms of revenue in 2018, contributing almost a third of the total share. This segment is expected to retain its dominant share over the forecast period. This is due to factors such as long range, unlimited potential for expansion of functions such as support for stop-starts in other applications, and excellent performance in measuring range and length. ‘angle or angle. On the other hand, the infrared (IR) sensor segment is said to register the fastest growth rate, with a CAGR of 27.0% from 2019 to 2026. This is due to the fact that the IR sensor provides night vision in the vehicles and is inexpensive.
The passenger car segment will contribute the highest share during the forecast period:
On the basis of vehicle type, the passenger car segment held the highest market share in terms of revenue in 2018, accounting for more than three quarters of the total share. This is due to the high sale of passenger vehicles compared to other commercial vehicles. On the other hand, the bus segment would register the fastest growth rate, with a CAGR of 31.7% from 2019 to 2026. This is due to factors such as the prevention of accidents by the installation of systems such as blind spot detection, adaptive cruise control, and others.
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Allied Market Research published a report titled “Advanced Driver Assistance Systems (ADAS) Market by System Type (Tire Pressure Monitoring System (TPMS), Drowsiness Monitoring System, Intelligent Parking Assistance System (IPAS), Adaptive Cruise Control System, Object Detection System in blind spots, lane departure warning system, adaptive front lighting system and others), type of sensor (image sensor, lidar sensor, ultrasonic sensor, infrared (IR) sensor, radar and laser sensor ) and vehicle type (passenger car, light commercial vehicle, bus, and trucks): Global opportunity analysis and industry forecast, 2019-2026. âAccording to the report, the advanced driver assistance systems market was valued at $ 39.63 billion in 2018 and is expected to reach $ 189.14 billion by 2026, registering a CAGR of 21.4% from 2019 to 2026.
Europe will contribute the highest share, North America will follow:
Europe contributed almost two-fifths of the total share in 2018, due to factors such as high demand for ride comfort and the implementation of Euro-NCAP ratings for cars.
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On the other hand, the North America region contributed the second highest revenue in 2018, on a region basis. LAMEA is expected to grow at the highest CAGR of 26.8% from 2019 to 2026, due to supporting government mandates and improving economic conditions in the region.
Major market players:
â¢ Magna International Inc.
â¢ Continental SA
â¢ Autoliv Inc.
â¢ DENSO Corporation
â¢ ROBERT BOSCH STIFTUNG GMBH (ROBERT BOSCH GMBH)
â¢ NXP semiconductors
â¢ Company Panasonic
â¢ Renesas Electronics Corporation
â¢ Texas Instruments
â¢ Delphi Automobile Company
â¢ Hyundai Mobis
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