Vancouver, B.C., Sept. 16, 2020 /PRNewswire/ -- Market Size – USD 24.05 Billion in 2019, Mark3et Growth - CAGR of 21.9%, Market Trends – Growing automotive industry has proliferated the rising need for safety of the vehicle as well as the passengers, in turn fostering the growth of the Advanced Driver Assistance Systems market.
Rising number of government initiatives relating to vehicle safety coupled with the rising demand for safe and efficient vehicles are the major factors adding impetus to the growth of ADAS and autonomous driving components market over the forecasted period.
VNCOUVER, B.C., September 16, 2020 - The Global ADAS and Autonomous Driving Components Market is projected to reach USD 118.03 billion in 2027. Rising concern for safety, ongoing development of automotive electronics sensors technology, demand of concept cars from high-income consumers increasing demand of automation in automobiles, and increasing use of sensors in hybrid and semi hybrid and electric cars are boosting the demand of ADAS and autonomous driving components market growth.
Usage of sensors have been enormous in automotive. Sensors are being used in almost all parts of the vehicle like chassis, engines, clutch, brakes, transmission, control, and safety. Automotive sensors are majorly used in powertrains to monitor speed, position, pressure, gas, and temperature inside the engine. These sensors are required for safe and efficient operations of powertrains. Emission regulations and stringent fuel-efficiency norms formulated by several governments of different countries are propelling the growth of the market in this segment. Meeting analog information related to temperature and pressure of automobiles for use by their digital control units is critical to meet desired fuel-efficiency and emission regulations. These sensors help vehicle's engines in burning fuel more efficiently by providing precise data to engines to improve the fuel efficiency according to requirements of the vehicles.
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Further key findings from the report suggest
- LiDAR sensor is the most important sensor for an autonomous vehicle. Self-driving or autonomous vehicles being tested by companies such as Uber, Alphabet, Toyota, and others rely heavily on these types of sensors to locate themselves on the detailed maps they need to get around and to identify things like other vehicles and pedestrians.
- By the vehicle type, the passenger car segment is expected to retain its dominant position in the ADAS and autonomous driving components market owing to the rising demand for safe and high-performance vehicles in the emerging countries.
- China is the key country and holds a significant share in the ADAS market in the APAC region. Other countries like South Korea, Japan, and India have also experienced a surge in the installation of automotive sensors and ADAS.
- In January 2020, TTTech Auto, a leader in autonomous driving (AD) safety software platforms acquired Turkey based Red Pine Software, an expert in ADAS. With this acquisition TTTech Auto expanded its ADAS and Automated Driving series development capacities projects that features its flagship product MotionWise.
- Key players in the market include Robert Bosch, ZF Friedrichshafen, Denso, Continental AG, Valeo, Magna International, Veoneer, Hyundai Mobis, Aptiv, and Analog Devices., among others.
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For the purpose of this report, Emergen Research has segmented the global ADAS and Autonomous Driving Components Market on the basis of System, Vehicle Type, Propulsion, Type, and region:
System Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Adaptive Cruise Control
- Adaptive Front Light
- Automatic Emergency Braking
- Blind Spot Detection
- Cross Traffic Alert
- Driver Monitoring System
- Forward Collision Warning
- Intelligent Park Assistance
- Lane Departure Assistance
- Night Vision System
- Pedestrian Detection System
- Road Sign Recognition
- Traffic Jam Assist
Vehicle Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Passenger Vehicle
- Mid-sized car
- Utility Vehicle
- Light Truck
- Mobile Truck
- Recreational Vehicle
- Towing Truck
- Fire Trucks
Propulsion Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Electric Vehicles
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Image Sensor
- LiDAR Sensor
- Ultrasonic Sensor
- Infrared Sensor
- Radar Sensor
- Capacitive Sensor
Regional Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- North America
- South Korea
- Rest of APAC
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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