Automotive ADAS Component: Introduction
- Penetration of ADAS (Advanced Driver Assistance Systems) technology is rapidly increasing in the field of automotive electronics. Increased awareness about road and traffic safety across the globe is a key factor boosting the demand for ADAS.
- Primarily, vehicles with ADAS components help detect certain obstacles, alert the driver of hazardous road conditions, and in some cases, ADAS components help stop or decelerate the vehicle. Integration of ADAS components in the vehicle not only to improves the safety of the passenger and the vehicle, but also helps improve the overall user experience.
Key Drivers of Global Automotive ADAS Component Market
- Rise in demand for a safe and convenient driving experience is likely to boost the automotive ADAS component market across the globe. Increase in demand for luxury vehicles that contain major advance drive assist system functions including adaptive cruise control and pedestrian detection system, which is expected to help avoid major accidents and ensure vehicle and passenger safety, is likely to boost the automotive ADAS components market across the globe.
- Rising preference toward autonomous vehicles is likely to propel the automotive ADAS component market, as most autonomous vehicles include ADAS system, which is likely to boost the automotive ADAS component market across the globe. Major vehicle manufacturers are jointly working to provide a safer drive experience with full passenger safety. This, in turn, is estimated to fuel the automotive ADAS component market across the globe.
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Europe and Asia Pacific to hold prominent share of global automotive ADAS component market
- Europe is projected to account for a major share of the global automotive ADAS component market due stringent rules and regulations enacted across the region regarding vehicle safety features. Increase in sale of electric vehicles across the region is also likely to boost the automotive ADAS component market in the region. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers, including Denso Corporation, Robert Bosch GmbH, and Continental AG who have major facilities that undertake research and development regarding the pedestrian protection system and blind spot monitoring system, which would help increase vehicle safety. This, in turn, is likely to boost the automotive ADAS component market in Europe.
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global automotive ADAS component market due to the presence of major ADAS component manufacturers across the region. Most developed countries including China and Japan have major research and development facilities regarding the ADAS system and additionally, major vehicle manufacturers are trying to invest in the manufacturing of ADAS component across the region. This is likely to boost the automotive ADAS component market in Asia Pacific.
Key Players Operating in Global Automotive ADAS Component Market
The global automotive ADAS component market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global automotive ADAS component market are:
- Intel Corporation
- Magna International
- Aptiv Inc.
- Robert Bosch GmbH
- Continental AG
- ZF Friedrichshafen
- Hitachi Ltd
- Denso Corporation
- Delphi Inc.
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Global Automotive ADAS Component Market: Research Scope
Global Automotive ADAS Component Market, by Vehicle Type
- Passenger Vehicle
- Commercial vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Automotive ADAS Component Market, by Component
- Camera Unit
- Electronic Control Unit
- Infrared Sensor
Global Automotive ADAS Component Market, by System
- Adaptive Cruise Control
- Night Vision System
- Blind Spot Monitoring
- Vehicle Collision Mitigation
- Others(e.g. Pedestrian Detection System)
Global Automotive ADAS Component Market, by Electric Vehicle Type
- Battery Electric Vehicle
- Plug-in Hybrid Vehicle
- Hybrid Electric Vehicle
Global Automotive ADAS Component Market, by Sales Channel
Global Automotive ADAS Component Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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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:
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- Latin America
- The Middle East and Africa
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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?
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