Increasing vehicle fleet is resulting in the surging traffic congestion which raised concerns related to road safety. As per the WHO, road traffic injuries are the 8th leading cause for the deaths at the global level and every year around 1.35 million people die due to road traffic crashes. Therefore, the government in several countries made stringent regulations to curb the increasing road accidents, due to which the demand for automated emergency braking, lane departure warning parking assistance, and adaptive cruise control are emerging. Therefore, the market size of ADAS and autonomous driving components is surging at a considerable growth.
Moreover, the technological advancement in the automobiles attributed to the change in consumer’s preference for safety and comfort, environmental concern coupled with the government’s regulations are some of the key factors contributing to the growth in the demand for ADAS & Autonomous Driving components across the globe.
According to MarkNtel Advisors’ research report “Global ADAS & Autonomous Driving Components Market Analysis, 2020”, the market size of ADAS & Autonomous Driving Components across the globe was around USD10 billion in 2019. The market size is surging on account of surging vehicle fleet across the globe. Furthermore, the surging e-vehicle demand across the globe is resulting in the growth of the ADAS & Autonomous Driving Components market.
Furthermore, the increasing disposable income across the globe is contributing to the rise in demand for luxury cars along with comfort and safety. The automobile manufacturers are undertaking technological up-gradation in the automobiles which are gaining end-users traction, therefore resulting in the growth of ADAS & Autonomous driving components market globally.
North America Hold the Lion’s Share
In 2019, North America grabbed the major market share in Global ADAS & Autonomous Driving Components market. The market size of North America is increasing on account of the stringent regulations on road safety by the federal government coupled with the rising demand for automated cars and high-end passenger cars such as Mercedes, Volvo, Audi and BMW owing to the surging disposable income of customers in the region.
However, the Asia-pacific region is expected to grow at the highest CAGR during 2020-25 on account of the availability of numerous car manufactures, stringent government regulations for vehicle safety, increasing disposable income. Furthermore, the expansion of manufacturing facilities by international players in the region is one of the major key factors contributing to the rise in the market share of the region in the Global ADAS & Autonomous driving components market.
Passenger Cars to Dominate the Market
In 2019, Passenger cars grabbed the major market share and the same trend is expected in the forecast period too. The high production rate of passenger cars and the growing demand for high-end passenger cars due to surge in disposable income in developed countries are few factors contributing to the growing share of passenger cars in the Global ADAS & Autonomous driving components market. Also, the deployments of large numbers of autonomous systems in a passenger car in comparison to other segments such as commercial vehicles, light commercial vehicles are contributing to the market growth of the passenger car segment.
Based on the components, the Electronic Control Unit grabbed more than half the market share in the Global ADAS & Autonomous driving components market. The deployment of electronic components and sensors is with the integration of ECU, which leads to a higher demand for the Electric control unit and the fact that the price of ECU is more than the other components such as camera, sensors, etc. is the prime factor for the rising market share of the electronic control, therefore, the market size of Global ADAS & Autonomous driving components is also escalating. Furthermore, the market for LiDAR is expected to grow at the highest CAGR in the forthcoming period and also, in the camera, the demand for the rear camera would dominate the market.
Based on the level of automation, Level 4 is expected to grow at a robust pace during the forecast period of 2020-25 due to the technological advancement in the automobile sectors and demand for high-end cars due to increasing disposable income. Moreover, the key benefits of level 4 such as fully autonomous driving, the car can handle highly complex urban driving situations, etc. would further contribute in the growth in the market share, as revealed by MarkNtel Advisors’ research report “Global ADAS & Autonomous Driving Components Market Analysis, 2020”.
According to MarkNtel Advisors’, the market of the ADAS & Autonomous Driving Components across the globe is highly fragmented due to the presence of numerous local and foreign players operating in the market. The companies with a considerable market share in the industry are Analog Devices Inc., Autoliv Inc, Continental AG, Delphi Automotive PLC, DENSO Corporation, HERE, IBEO Automotive Systems GmbH, Infineon Technologies AG, Intel Corporation, LeddarTech among others. The companies are launching new components and services to gain a competitive edge in the industry. For instance, Robert Bosch GmbH announced in 2020 that the company has developed a sensor for cars that would help to see “3D View” of the road.
“Global ADAS & Autonomous Driving Components Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for ADAS & Autonomous Driving Components providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Level of Automation (Leverl1, Level 2, Level 3, Level 4, Level 5)
2. By Vehicle Type (Passenger Car, Commercial Vehicle, Light Commercial Vehicle, Heavy Trucks, Heavy Buses)
3. By Components Type (Camera, Radar, Ultrasonic Sensors, LiDAR, Electronic Control Unit)
4. By System (Adaptive Cruise Control (ACC), Adaptive Front Light (AFL), Automatic Emergency Braking (AEB), Blind Spot Detection (BSD), Cross-Traffic Alert (CTA), Driver Monitoring System (DMS), Forward Collision Warning (FCW), Intelligent Park Assist (IPA), Lane Departure Warning (LDW), Night Vision System (NVS), Pedestrian Detection System (PDS), Road Sign Recognition (Rsr), Tire Pressure Monitoring System (TPMS), Traffic Jam Assist (TJA))
5. By Offering (Hardware, Software),
6. By Region (North America, Europe, Asia-Pacific, Middle East, and Africa, South America)
7. By Countries (U.S, Canada, Mexico, Brazil, Argentina, UK, France, Germany, Spain, Italy, UAE, Saudi Arabia, South Africa, China, Japan, India, Australia, South Korea, Others)
8. By Company (Analog Devices Inc., Autoliv Inc, Continental AG, Delphi Automotive PLC, DENSO Corporation, HERE, IBEO Automotive Systems GmbH, Infineon Technologies AG, Intel Corporation, LeddarTech, Others)
Key questions answered in the study:
1. What are the current and future market trends of the Global ADAS & Autonomous Driving Components industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the region followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global ADAS & Autonomous Driving Components industry?
5. What are the customer orientation, purchase behavior, and expectations from the Global ADAS & Autonomous Driving Components firms across various regions?