Advanced Driver Assistance System (ADAS) Sensor are the backbone of the ADAS architecture. Advanced driver assistance systems are the systems that are employed in vehicles to monitor, warn, and control the vehicles with partial and compete override of the driver. It assist the driver while driving and other activities such as parking where the driver is not entirely able to concentrate on driving and needs assistance in controlling the vehicle. ADAS sensors plays a very important hole in decision making of ADAS to control the vehicles and needs to be of great precision and accuracy, thus many of the sensor manufacturers are focused on developing high precision and high accuracy sensors.
Market Dynamics: Global Advanced Driver Assistance System (ADAS) Sensor Market
The Advanced Driver Assistance System (ADAS) Sensor market is expected to be driven by the increasing awareness among the drivers in safety applications and regulations by the governments of developed countries in Europe and North America. Advanced driver assistance systems are currently in the state of development, particularly in low end consume vehicles as well as commercial vehicles. Though the penetration of ADAS is comparatively high in luxury vehicles, many of the vehicle manufacturers are focusing on developing and upgrading the existing systems by coping up with the associated problems to expand market reach, which is anticipated to be the major factor towards the escalated growth of ADAS sensor market during the forecast period. Furthermore, along with the increasing research and development spending on ADAS sensors and accelerated growth of automotive manufacturing in developing economies is fueling intense competition in the global market, and is anticipated to further intensify during the forecast period.
Market Segmentation: Global Advanced Driver Assistance System (ADAS) Sensor Market
The global advanced driver assistance system (ADAS) sensor market has been segmented based on type, application, vehicle type, and region. Based on type, the Advanced driver assistance system (ADAS) sensor market can be classified into temperature sensor, radar sensor, LiDAR sensor, infrared sensor, laser sensor, ultrasonic sensor, pressure sensor, and others. Based on application, the market can be segmented into adaptive cruise control (ACC), adaptive head lamp (AHL), automatic/intelligent emergency braking (AEB), blind spot detection system (BSD), cross traffic alert (CTA), drowsiness monitor system (DMS), lane departure warning system (LDS), night vision, park assist (PA), surround view camera system (SVC), time pressure monitoring system and others. Based on vehicle type, the advanced driver assistance system (ADAS) sensor market can be segmented into, passenger cars, and commercial vehicles. The commercial vehicle segment of the advanced driver assistance system (ADAS) sensor market is further classified into light commercial vehicles, and heavy commercial vehicles. In terms of geography, the global advanced driver assistance system (ADAS) sensor market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America and Europe is anticipated to contribute a largest share to the global advanced driver assistance system (ADAS) sensor market due to the presence of leading advanced driver assistance system (ADAS) sensor manufacturers in this region. Moreover, rising awareness about driving safety and, initiatives and regulations defined by road safety authorities are anticipated to be the fueling factors for market growth in these regions during the forecast period. The market in Asia Pacific is anticipated to expand at a prominent growth rate owing to the exponential expansion of automotive industry in major economies such as China, India, Japan, and Australia in the region. Moreover, increasing penetration of advanced driver assistant system (ADAS) in budget passenger cars is anticipated to drive the market in this region. Among the application segment, adaptive cruise control (ACC) is anticipated to be the major contributor towards the global market followed by surround view camera system (SVC) as majority of the car manufacturers across the globe are focusing on integrating these technologies in the low price passenger cars.
Prominent Market Players
Key players operating in the global Advanced Driver Assistance System (ADAS) Sensor market include Aisin Seiki Co., Autoliv AB, Robert Bosch GmbH, Continental AG, Delphi Automotive, Denso Corporation, Gentex Corporation, Harman International, Hella KGaA Hueck & Co., Hyundai Mobis, Magna International, NXP Semiconductors, Panasonic Corporation, Takata Corporation, Tech Mahindra, Texas Instruments Inc., Valeo S.A Corporation, and ZF Group among others. These players are actively focusing on organic and inorganic growth strategies in order to gain a competitive advantage in the market. Some of the important strategies adopted by the leading players in the global market are collaborations, partnerships, agreements, and new product development. The report provides an in-depth analysis about the strategic business activities along with the market dynamics shaping the global Advanced Driver Assistance System (ADAS) Sensor market over the period of study.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.