The global advanced driver assistance system market is foreseen to witness significant growth, owing to increasing urbanization and industrialization during the forecast period 2021 to 2030.
Researchmoz
demystifies the advanced driver assistance system market by shedding some light
on market size, opportunities, trends, drivers, restraints, product
segmentation, and competitive edge.
The
advanced driver assistance system market is expected to witness noteworthy
growth owing to advanced technological development and its global adoption.
The
global advanced driver assistance system market is projected to grow CAGR of
11.4% between 2021 to 2030. The estimated market value in 2021 was USD27.52bn
and it is projected to witness an estimated value of 58.59bn by 2030.
Factors Driving and Restraining the Market
The
global advanced driver assistance system market shows an impressive growth
opportunity during the forecast period. Let’s sneak peek into the factors that
are expected to drive the market.
- The increasing number of accidents and
need for safety measures are projected to drive the advanced driver
assistance market in the coming years.
- The ADAS offers a wide range of benefits
higher efficiency, safety, comfort, and seamless driving experience, thus
owing to the market expansion.
- The increasing disposable income among
consumers and urban lifestyle is leading the way to boost the production
and sales of the advanced driver assistance system market.
- Further, the ADAS offers safety benefits
to not just the driver, but also the passengers and pedestrians, thus
reducing the mishaps and owing to the expansion of the market during the
forecast period.
The
risk of cyber security threats and technical challenges may pose a hindrance to
the advanced driver assistance system in the forthcoming years.
However,
despite the restraints, the government’s measures to reduce carbon footprints
and increase road safety measures are projected to boost sales in the advanced
driver assistance system market.
Analyst’s Overview
The
global advanced assistance systems market is witnessed to thrive between 2021
to 2030, the market analysis shows an impressive growth possibility at a CAGR
of 11.4%, reaching up to an estimated valuation of USD 58.59bn from the past
valuation of USD 27.52bn in 202.
The
increasing road mishaps and traffic congestion are witnessed to be a
significant factor in the rising demand for the advanced driver assistance
system market.
The
Radar component is expected to witness dominance as compared to other
components as radar is highly used in adaptive cruise systems to provide higher
efficiency and safety measures, thus augmenting the growth of the globally
advanced driver assistance system in the coming years.
Park
assist system is anticipated to take the second place in terms of system
dominance as it helps in clearing any unwanted objects in the way and offers
seamless parking assistance and safety.
Asia
Pacific region is expected to hold a dominance in the market due to rising
urbanization and increasing demand for electric vehicles.
Countries
such as China and Japan are expected to lead in the region owing to rapid
changes in technological advancements.
Competitive Landscape
The
global advanced driver assistance system market is fragmented and faces cutthroat
competition.
The
presence of prominent market players makes it highly competitive as these
players are constantly focusing on introducing new products by leveraging
technology to its best.
Further,
some of the other strategies that key players leverage are collaborations and
mergers to expand their market presence and position themselves for better
profitability.
The major players in the
global advanced driver assistance system market include-
- Robert Bosch GmbH
- Continental AG
- DENSO CORPORATION
- Magna International Inc.
- Aptiv PLC
- ZF Freidrichshafen AG
- Valeo SA
- Aisin Seiki Co. Ltd
- Harman International
- GENTEX CORPORATION
- Hyundai Mobis
- Panasonic Corporation
- NXP Semiconductor
- Mobileye
- Renesas Electronics
Corporation
Request
Free Sample Pages Of This Premium Research Report: https://www.researchmoz.us/request-free-sample/?reportid=616
No comments:
Post a Comment