Detection of blind spots. These life-saving systems, which incorporate the most recent interface standards and run various vision-based algorithms to provide real-time, simultaneous multimedia vision processing and sensor fusion subsystems, are vital to the success of ADAS applications. During the projected period, the Advanced Driver Assistance System (ADAS) market is expected to grow at a CAGR of 16.5%.
Advanced Driver Assistance System Market Report Scope and Research Methodology:
The report's main goal is to provide a comprehensive assessment of the Advanced Driver Assistance System market, which includes major leading stakeholders in the Advanced Driver Assistance System industry. The assessment clearly demonstrates the anticipated market size and trends, as well as the Advanced Driver Assistance System market's historical and current situation.The study includes revenue, market share, production, and sales data for the Advanced Driver Assistance System market. In addition, the research provides Advanced Driver Assistance System market segment trends, investment, and technology, as well as the competition landscape. It also covers an examination of regional and market segmentation, application areas, and market growth strategies. An in-depth research of market segmentation aids in determining current market potential, and the primary segments of the Advanced Driver Assistance System markets are further subdivided.
The research analyses the Advanced Driver Assistance System market qualitatively and quantitatively from 2022 to 2029 in order to identify the current market opportunities. Porter's five forces research illustrates the ability of Advanced Driver Assistance System industry suppliers and buyers to make profit-oriented business decisions and expand their buyer-supplier network. The Advanced Driver Assistance System market analysis provides unique guidance in thoughtful specifics regarding development aspects, and it was created using a top-down and bottom-up method to ensure accuracy and precision. SMEs professional analysts collected data for the Advanced Driver Assistance System market study using extensive primary and secondary research approaches.
Advanced Driver Assistance System Market Overview:
The research goes into detail about the Advanced Driver Assistance System Market's drivers, constraints, technological advancements, product developments, market opportunities, restrictions, growth strategies, and market prospects, as well as the forecast period. The research provides an in-depth examination of the Advanced Driver Assistance System industry, providing key information such as Advanced Driver Assistance System market size, market share, revenue growth, and CAGR from 2020 to 2029.
Advanced Driver Assistance System Market size was valued at US$ 25.58 Billion in 2022 and the total Advanced Driver Assistance System (ADAS) Market revenue is expected to grow at 16.5% through 2023 to 2029, reaching nearly US$ 74.51 Billion.
Advanced Driver Assistance System 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 recognise and classify certain road objects, inform the driver based on road conditions, and, in some situations, automatically slow down or stop the vehicle. The number of people killed in car accidents has risen dramatically. According to the World Health Organisation, around 1.25 million people die in traffic accidents each year. Furthermore, the number of fatal road accidents among teenagers is higher. These elements are driving the demand for car safety features. Automobile manufacturers are designing and deploying safety measures to fulfil the needs of their customers.
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Advanced Driver Assistance System Market Regional Insights:
Major countries in each region are included in the report according to their revenue contribution to the Advanced Driver Assistance System market. The study includes a region-wise detailed analysis of the Advanced Driver Assistance System market. The regions are:
- North America
- Asia Pacific
- Europe
- Latin America
- the Middle East, and Africa
Advanced Driver Assistance System Market Segmentation:
Leading OEMs incorporate ADAS technologies to improve security and attract more customers. As a result, standardise safety systems across models or provide them as an optional feature. The main drivers 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 nations 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). After 2022, the 24 GHz band will no longer be available in Ultra Wide Band (UWB). To boost reliability and efficiency, major OEMs and Tier 1 auto parts manufacturers are transitioning to long-range 77 GHz radar.
The passenger car category is a significant contributor to the market for advanced driver assistance systems (ADAS). increasing traffic safety requirements, legal support, and increasing consumer awareness can all lead to increased demand for safety technologies in growing economies. Furthermore, certain nations in Europe, North America, and Asia Pacific have enacted legislation requiring various types of ADAS to be fitted in passenger vehicles. For example, the European Union has proposed Vision Zero, a plan to eliminate traffic fatalities by 2050. The organisation has set a target of cutting casualties by half by 2030. The strategic plan also calls for mandatory lane departure warning, autonomous emergency braking, and tiredness and attentiveness monitoring in new vehicles by 2022.
Advanced Driver Assistance System Market 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)
Key Questions answered in the Advanced Driver Assistance System Market Report are:
- What are the sales, production, consumption, and import and export of Advanced Driver Assistance System globally (North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major players in the Advanced Driver Assistance System Industry on a worldwide scale?
- What is the state of business of Advanced Driver Assistance System market players?
- What are the market opportunities and restraints for Advanced Driver Assistance System suppliers in the Advanced Driver Assistance System industry?
- Which application, end-user, or product category might be looking for new growth opportunities? What is each types and applications Advanced Driver Assistance System market share?
Key Offerings:
- Market Share, Size Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments with their sub-segments and Region
- Competitive Landscape – Top Key Players and Other Prominent Players
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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