GMI Forecast ADAS Market will see gains at over 12% to 2024

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Advanced Driver Assistance Systems Market Report
To 2024
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Key Insights from ADAS Market

• Features that include intelligent park assist
  system, blind spot detection, image sensors and
  surround view have significantly contributed
  towards ADAS market growth. Moreover, driver
  assistance for complex and repetitive tasks to
  reduce human errors under complex situations will
  further expand the market share. However,
  operational complexity of these technologies in
  conjunction with and high cost of the systems and
  user awareness are expected to hamper the overall
  industry growth.
• LiDAR sensors acquired over 20 of the ADAS
  revenue market share in 2017, will witness 12.5
  CAGR over the forecast timeframe. High accuracy,
  fast processing, minimum human dependence,
  weather independence, competitive sensors costs
  are among key properties driving the LiDAR
  demand. Effective prevention from geometrical
  distortions including angular landscape will
  provide positive outlook for LiDAR segment in
  ADAS market size.
• Based on vehicles, LCV is expected to witness
  highest growth demands through the forecast
  period. Potential ADAS application in commercial
  applications, construction, and military for
  safeguarding humans and goods will propel the
  advanced driver assistance systems (ADAS) market
  demand from LCVs.

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Continued

• Growing intercity and intra-city goods
  transportation is likely to influence commercial
  vehicle fleets. Rising passenger cars has surged
  on-road traffic and leading to vehicle accidents
  and crashes. According to National Collision
  Database, Canada, in 2016, the number of vehicle
  accidents rose by 2 as compared to 2015.
  Increasing number of accidents will positively
  influence auto collision repair market size over
  forecast period.
• New OEMs leads auto collision repair market size
  with high consumer preference owing to quality,
  system compatibility and durability to ensure
  vehicle performance. The original component
  manufacturers are providing warranty and support
  to ensure brand loyalty. Further provision of
  benefits including reliability and better output
  will further escalate the segment revenue.
• Independent repair shops will witness steady
  growth with facilities offering economical
  repairing services. The large fleet owners prefer
  independent service shops owing to low servicing
  cost as compared to dealer owned shops.

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U.S. Advanced Driver Assistance System Market, By
Sensor, 2017 2024 (USD Million)

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Major Companies in ADAS Market

• Continental AG
• Robert Bosch
• Autoliv
• Magna International
• Texas Instruments
• TRW Automotive
• Delphi
• NXP Semiconductor Inc
• Aisin Seiki Co.
• Denso Corporation, Harman International

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Industry Coverage

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Regional Insights in ADAS Market

• Asia Pacific ADAS market is expected to witness
  highest growth through the forecast period.
  Initiatives emphasizing on the utilization of
  Artificial Intelligence (AI), collaboration for
  the development of ADAS, improved sensing
  systems, and faster information processing
  capabilities are expected to be among the major
  factor projected to offer strong growth platform.
  For instance, in June 2018, Toyota Motor
  Corporation invested USD 1 billion to gain access
  on the driving patterns of the users in South
  East Asia. Moreover, requirement of the ADAS for
  automation technologies, the industry is expected
  to witness exponential growth over the forecast
  period.

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