Advanced Driver-Assistance Systems (ADAS) is an electronic system comprises of Autonomous Driving Components, which supports the driver while driving or during parking vehicles. The Global ADAS & Autonomous Driving Components Market Analysis, 2020 research report comprises a deep-dive market analysis of statistics of the Global ADAS & Autonomous Driving Component market, which consists of region-wise market size, market forecast, CAGR market segmentation, market share of various levels of automation, vehicle type, system, offering, component type, etc.
According to MarkNtel Advisors’ research report titled “Global ADAS & Autonomous Driving Components Market Analysis, 2020”, the Global ADAS & Autonomous Driving Components market is estimated to grow at the CAGR of 21% during 2020-25. The major factors contributing to the growth of the Global ADAS & Autonomous Driving components are stringent government regulations for road safety, surging disposable income, which in turn, is resulting in the demand for high-end passenger cars, and technological up-gradation by the car manufacturers for the safety and comfort of the driver, among others.
Furthermore, a surging vehicle fleet across the globe and the launch of low coast passenger cars by the car manufacturers with additional features for safety and comfort, and escalation of e-vehicles globally are some of the key factors propelling the demand for ADAS & Autonomous Driving Components.
Asia-Pacific is Expected to Witness the Highest CAGR During Forecast Period
In 2019, North America accounted for the major market share. The surging number of car registration and vehicle fleet in countries such as the US and Canada is resulting in a growing need for ADAS & Autonomous Driving Components. Furthermore, the continuous rise in road fatalities in the region is inducing a need for technological up-gradation in the automobiles with features such as automated emergency braking, lane departure warning parking assistance, and adaptive cruise control, etc. As per the Nation Safety Council, around 38,000 fatalities in 2019 occurred due to car crashes in the US. However, this is 2% lower in comparison to 2018; In spite of this, consumers are actively demanding autonomous driving components for better safety and comfort.
The Asia-Pacific region is expected to grow at the highest CAGR in the forecast period owing to the presence of a large number of car manufacturers, entry of several foreign service providers, and the emergence of local technology providers in the automobile industry.
Passenger Cars is Estimated to Capture Major Market Share
In 2019, passenger cars acquired the major market share and a similar trend is expected in the forthcoming years as well. Increasing passenger car production in comparison to commercial vehicles and the escalating demand for high-end passenger cars due to increasing disposable income of the consumers are leading to the growth in the demand for ADAS and autonomous driving components. Also, the rising number of e-vehicles and launch of low-cost passenger cars inclusive of all the autonomous features by major car manufacturers are some of the factors contributing to the growth of the market share in the passenger car segment.
Furthermore, the level 4 automation which is high automation is expected to grow at the fastest CAGR during 2020-25 owing to the befits such as fully autonomous driving, the car can handle highly complex urban driving situations, etc., as stated in the MarkNtel Advisors’ research report “Global ADAS & Autonomous Driving Components Market Analysis, 2020”.
According to MarkNtel Advisors, the presence of numerous local and foreign players in various regions makes the global industry highly competitive. The key players with a considerable 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, etc., These players are launching new products and are being involved in strategic alliances to gain a competitive advantage in the industry.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation, and Statistics
Global ADAS & Autonomous Driving Component Market Analysis, 2015-2025F
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global ADAS & Autonomous Driving Component Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Global ADAS & Autonomous Driving Component Market during 2020-25?
A. The Global ADAS & Autonomous Driving Component Market is expected to grow at a CAGR 21% during 2020-25.
Q. Which region would grab the highest market share during 2020-25?
A. It is forecast that North America will dominate the market with a majority market share, and market size registering considerably higher CAGR.
Q. Who are the key competitors or players operating the Global ADAS & Autonomous Driving Component market?
A Analog Devices Inc., Autoliv Inc, Continental AG, Delphi Automotive PLC, DENSO Corporation, HERE, IBEO Automotive Systems GmbH, Infineon Technologies AG, Intel Corporation, LeddarTech, etc., are the leading players in the Global ADAS & Autonomous Driving Component market.
Q. Which vehicle type would emerge as an opportunity area for players in Global ADAS & Autonomous Driving Component Market?
A. Passenger Car segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which component would emerge as an opportunity area for players in Global ADAS & Autonomous Driving Component Market?
A. ECU grabbed a significant market share continue to grow at the highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global ADAS & Autonomous Driving Component Market.
