According
to a new research report published by Transparency Market Research
(TMR), the global advanced driver assistance system (ADAS) market is
projected to reach US$50.48 billion in 2020. TMR states that the
market, having a valuation of US$14.80 billion in 2013, will display
an impressive 19.2% CAGR between 2014 and 2020.
Browse
the full Advanced Driver Assistance Market Report at
http://www.transparencymarketresearch.com/advanced-driver-assistance-market.html
The
report, titled “Advanced Driver Assistance Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2020”,
is available for sale on the company website.Worldwide, increasing
disposable incomes are boosting demand for sophisticated automobiles,
which will lead to significant growth of the automotive sector. In
developed countries such as the U.S, the U.K., and Japan, increasing
emphasis on safety pertaining to automobiles stands as a key factor
driving the ADAS market.
In
recent years, increasing importance of consumer safety and
installation of ADAS in low-cost cars is also aiding the growth of
this market. With the rising geriatric population worldwide and
changing family structures, there is surging demand for comfort
driving that employs the latest technology. ADAS technologies assist
everyday driving tasks by reducing the demands on the driver and
adding comfort, which helps enhance luxury and comfort, complementing
safety with these benefits.However, production complexities and cost
pressures associated with environmental factors that affect the
system’s performance hinder the growth of the global ADAS market,
states the report.
Adaptive
cruise control registered as the largest segment of the market,
accounting for 18.15% of the overall market in 2013. However, the
tire pressure monitoring system segment is anticipated to witness the
fastest growth, at a CAGR of 21.1% from 2014 to 2020. Additionally,
drastic and rapid economic reforms and mandatory legislations all
over the globe will spur the growth of the market in coming years.In
2013, North America held the largest share of the global ADAS market.
This was mainly due to strict safety and environmental regulations
and favorable consumer preference to own advanced vehicles with the
latest technology. Consumers in the region are inclined towards
owning automobiles with advanced comfort systems and equipped with
features that are compliant with health and safety regulations
imposed by the government.
Browse
the full Press Release :
The
ADAS market in the U.S. and Europe has a huge potential due to
mandatory implementation of certain ADAS features in the automotive
sector by regulatory agencies. For instance, the advanced driver
assistance system characteristics like pedestrian protection and tire
pressure monitoring system will be compulsory in Russia in coming
years. However, Asia Pacific is expected to exhibit the fastest
growth, at a CAGR of 20.5% from 2014 to 2020. Increasing vehicle
demand, growing purchasing power, and changing buyer preferences are
attributed as the major factors propelling the ADAS market in Asia
Pacific. In the rest of the world, favorable policies in countries in
Latin America and the Middle East and Africa is contributing
massively to the growth of the ADAS market. The report profiles some
of the key participants in the global advanced driver assistance
system market that are Autoliv Inc., Denso, BMW AG, Robert Bosch
GmBH, Audi AG, and Continental AG.
The
global ADAS market is segmented as follows:
Advanced
Driver Assistance System Market: By type
Adaptive
Cruise Control (ACC)
Blind
Spot Detection (BSD) System
Park
Assist
Drowsiness
Monitor System
Lane
Departure Warning (LDWS) System
Tyre
Pressure Monitoring System (TPMS)
Others
(night vision, driver monitoring system, forward collision warning,
heads up display)
Advanced
Driver Assistance System Market: By technology
Ultrasonic
Sensors
Image
Sensors
Radar
Sensors
Laser
Sensors
Infrared
Sensors
Advanced
Driver Assistance System Market: By geography
North
America
Europe
Asia
Pacific
Rest
of the World
Request
a Sample of this Report :
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2914
About
Us
Transparency
Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company’s
exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insight for thousands of decision makers.
TMR’s experienced team of analysts, researchers, and consultants
use proprietary data sources and various tools and techniques to
gather and analyze information.
TMR’s
data repository is continuously updated and revised by a team of
research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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