Advanced Driver Assistance Systems Industry News:
The leading participants in the Advanced
Driver Assistance Systems Market are ZF Friedrichshafen AG, Hitachi Ltd., HELLA
KGaA Hueck & Co, Magna International Inc, Continental AG, Valeo, Panasonic
Corporation, DENSO CORPORATION, Delphi Automotive LLP, and Robert Bosch Automotive
Steering GmbH.
Advanced
Driver Assistance Systems Market Overview:
The Advanced
Driver Assistance Systems Market will expand at a compound annual growth
rate of 10%. The market's quick rise may be linked to the increased need for
safer driving scenarios. Customers' heightened concerns about automotive safety
have resulted in a major increase in demand for greater safety features,
particularly in the mid-price class of vehicles. Furthermore, the foundations
of the global vehicle industry are changing at a rapid pace. Automobiles are
supplied with key components that have previously been created and produced
following client expectations to compete in the mid-price market.
Autoliv and Continental, for example, are
collaborating with OEMs to design and construct low-cost DAS. This agreement is
designed to help automakers achieve economies of scale, which will help cut the
prices of ADAS systems. This endeavor by major automakers will almost certainly
result in an increase in advanced driver aid systems in low-cost automobiles in
the coming years.
Furthermore, experts predict that a steady
increase in demand for small and mid-sized vehicles equipped with increased
safety features will fuel market growth in the coming years. The ongoing
COVID-19 outbreak has had a severe influence on the global Advanced Driver
Assistance Systems market revenue. As a result of this outbreak, the automobile
industry has ground to a halt owing to supply shortages and the stoppage of new
car production. Automobile sales are declining, which has become a serious
challenge for automakers.
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Report of Advanced Driver Assistance Systems Market
Material constraints and electronic
component shortages have harmed leading automakers' manufacturing capabilities,
limiting the industry's development. However, restrictions from various
countries are projected to boost the global market in 2022. The market will
increase at a significantly slower rate as a result of decreasing car sales and
an abrupt halt in the manufacture of new transportation technologies.
Advanced
Driver Assistance Systems Market Segmentation:
By Application: Head-up displays, drowsiness
monitors, blind-spot detection, pedestrian protection, adaptive cruise control,
intelligent part help, and other features are among the market segments.
By end-users: The market is divided into
four categories: ultrasonic sensors, camera sensors, lidar sensors, and radar
sensors.
Advanced
Driver Assistance Systems Regional Classification:
According to the research, the worldwide
advanced driver assistance system market is segmented into four regions: North
America, Asia Pacific, Europe, and the rest of the world. The Asia Pacific
region is likely to dominate the global advanced driver assistance system
market over the coming few years. The Indian automobile industry and OEMs are
well-represented in Japan, South Korea, and India, there is a large industrial
base for parts, labor costs are dropping, and limits on the use of ADAS
technology in automobiles are being enforced in India and Japan. As a result,
the frequency of crashes in India has increased, and as a result, there has
been an increase in fatalities.
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