Advanced driver assistance systems (ADAS) facilitates safe driving and warns the driver if the system detects risks from the surrounding objects. Deployment of ADAS in vehicles to enhance comfort and ensure safety on road has emerged as one of the major trends. The system provides dynamic features such as adaptive cruise control, parking assistance, blind spot detection, lane departure warning, drowsiness monitoring, tire pressure monitoring and night vision. The developments in the automotive industry are not only limited to the enhancement in the design or engine but also cover the safety of a vehicle, passenger as well as pedestrian. The growth of the market is driven by increasing focus of consumers on safety, the impending demand for comfort in driving along with a rise in government regulations for ensuring safety. However, factors such as pricing pressure, inflation, complexity and difficulty in testing systems are some of the biggest challenges of this industry. The major trends prevailing in the market are increased electronic content and electronic integration, deployment of ADAS in low-cost cars and a rise in number of driverless cars.
The European automotive industry is one of the largest and most innovative automotive markets in the world. With a massive transformation in the industry, there is rapid market penetration and mass adoption of ADAS amongst customers. There are regular upgrades in the ADAS technology which facilitate competitiveness in the market. Recently, Toyota’s R&D labs in Japan, have conceptualized a prototype of the high-definition imaging Light Detection and Ranging (LiDAR) sensor for its ADAS system. This 3D sensor can detect objects up to a range of 100m and operate in adverse weather conditions as well. The company will use this 3D sensor as a part of their ADAS system in their upcoming Toyota vehicles.
Key players in the Advanced Driver Assistance System market are Valeo, Magna International Inc., Robert Bosch GmbH, Autoliv Inc., Continental AG, Denso Corporation, Audi AG, BMW AG, Ford Motors Co. and General Motors (GM). The ADAS market is segmented on the basis of component and geography. Component has been further bifurcated into systems and sensors.
Key Market Segmentation
The market is segmented on the basis of component and geography.
MARKET BY COMPONENT
MARKET BY GEOGRAPHY