Published Date : Nov 10, 2016
Automotive advanced driver assistance systems (ADAS) applications are considered as precursors to the fully automated driverless cars that are still being tested. Although still in its early days, the global market for ADAS has shown impressive growth. The current market revenue, however, pales in comparison to that of audio and telematics meant for cars. This is due, partly on account of the fact that some of the most promising ADAS applications are still being further refined or are yet to hit the market. Besides, their steep prices are also hampering the market growth.
Various Ways in Which Global ADAS Market can be Segmented
The global advanced driver assistance systems market consists of the original equipment manufacturers (OEMs) and aftermarket. OEMs have a dominant market share in terms of revenue in the global ADAS market, and is predicted to hold on to its leading position in the coming years too.
Depending on the type of vehicle, the global market for can be divided into passenger vehicle and commercial vehicle. The passenger vehicle segment has been leading the global advanced driver assistance system market and is expected to remain a market leader in the near future as well.
Technology-wise, global advanced driver assistance systems consist of infrared sensors, radar sensors, laser sensors, ultrasonic sensors, and image sensors. Depending upon type, the global market for advanced driver assistance systems can be divided into adaptive cruise control (ACC), park assist, blind spot detection (BSD), tire pressure monitoring system (TPMS), lane departure warning system (LDWS), and others.
Shifting Trends in the Market and the Competitive Landscape
Presently, the advanced driver assistance systems come embedded in premium cars, but in the future, with more product development, they will be found in less costly cars plying on streets too. OEMs and their suppliers are fast realizing the importance of advanced driver assistance systems as a crucial differentiator for automotive brands, which will go a long way in augmenting their sales. At present the market is highly fragmented with a host of global and regional players jostling for market space.