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Full Report Description of Advanced Driver Assistance Systems
Market is available at:
Factors such as a rise in government initiatives and regulations to
curb road accidents, development of autonomous cars, demand for more
comfortable driving, and availability of advanced driver assistance
systems in low-cost vehicles have lent a major boost to the global
market. However, issues associated with cost and environmental
regulations threaten to restrain the advanced driver assistance
system market.
North America Leads Global Advanced Driver Assistance System
Market
The global advanced driver assistance system market is divided on the
basis of geography into North America, Europe, Asia Pacific, and Rest
of the World. Overall, the worldwide market was estimated to be worth
US$14.80 billion two years ago in 2013, according to a report
published by Transparency Market Research. The report indicates that,
developing at an impressive 19.2% CAGR from 2014 to 2020, the
advanced driver assistance system market is likely to reach a value
of US$50.48 billion by 2020.
North America dominates the global advanced driver assistance system
market, accounting for the largest share in 2013. After the
government imposed health and safety regulations in the region,
buying preferences of consumers leant more towards vehicles that
featured advanced driver assistance systems. Thanks to these
stringent environmental and safety norms, North America is likely to
retain its lead in the coming years. Asia Pacific, however, has been
predicted to emerge as the dark horse in the global advanced driver
assistance system market owing to improving lifestyles, change in
consumer purchasing patterns, increase in disposable incomes, and
surge in automobile demand. The APAC region is forecast to register a
strong CAGR of 20.5% from 2014 to 2020, becoming the fastest growing
regional market for advanced driver assistance systems. Mandatory
inclusion of tyre pressure monitoring system in vehicles is a key
factor that is anticipated to drive the market in Europe.
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Adaptive Cruise Control, Tire Pressure Monitoring Systems to Lead
Global Market
Advanced driver assistance system technology consists of five major
types: image sensors, laser sensors, ultrasonic sensors, radar
sensors, and infrared sensors. By type, the advanced driver
assistance systems market can be divided into lane departure warning
(LDWS) system, adaptive cruise control (ACC), tire pressure
monitoring system (TPMS), blind spot detection (BSD) system, park
assist, drowsiness monitor system, and others such as driver
monitoring system, heads up display, night vision, and forward
collision warning.
Among the major types of advanced driver assistance systems, adaptive
cruise control dominated the market in 2013 and held an 18.15% share
of the overall advanced driver assistance system market. However,
mandatory legislations in most parts of the world are likely to make
tire pressure monitoring system the fastest growing segment from 2014
to 2020, registering a 21.1% CAGR during that period.
Vendor Landscape and Support from External Sources
The advanced driver assistance system market is characterized by not
only the presence of a large number of manufacturers but also by the
support and contribution of suppliers, research programs, government
bodies, and other organizations.
Some of the leading manufacturers of advanced driver assistance
systems are Audi AG, Valeo, Honda Motor Company, Denso Corporation,
Ford Motor Company, GM, BMW AG, Magna International Inc., Hyundai
Motor Company, Robert Bosch GmbH, Continental AG, and Autoliv Inc.
Academic and research associations such as University of Florida,
Virginia Tech Transportation Institute, INRIA-Rocquencourt,
Fraunhofer Institute, and Centro Ricerche Fiat S.C.p.A. have been
conducting research programs in the field of advanced driver
assistance system technology, which has greatly boosted the growth of
the global market. Government bodies such as the European Commission,
ERTICO-ITS Europe, the International Transport Forum, and the
National Highway Traffic Safety Administration (U.S.), and other
organizations such as the Alliance of Automobile Manufacturers
(U.S.), the European Automobile Manufacturers’ Association (ACEA),
CLEPA (Europe), ALD Automotive, the European Automotive Research
Partners Association (EARPA), and the European Council for Automotive
R&D (EUCAR) have also contributed towards the development of the
global advanced driver assistance system market.
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