SYDNEY, June 23, 2015 /PRNewswire/ --
According to a new report by ApacMarket.com titled, "Asia-Pacific Advanced Driver Assistance System Market (System Type, Sensor Type and Country) -Segmentation, Opportunity and Forecast, 2014 - 2020", the Asia-pacific advanced driver assistance system market would garner an overall revenue of $15.5 billion by 2020, registering a CAGR of 31.3% during the forecast period 2015 - 2020. The integration of advanced driver assistance systems in vehicles facilitates an intelligent driving experience with enhanced and smart safety features. Advanced driver assistance system consists of a broad range of technologies associated with safety and convenience, some of which include adaptive cruise control, lane departure warning systems, adaptive front lighting systems and drowsiness monitoring systems. Sensors are used in vehicles to detect and relay information. Some of the sensors that are primarily used in vehicles are Ultrasonic sensors, Image sensors, and RADAR sensors. Stringent government regulations regarding safety in vehicles and a significant rise in the incomes of people in this region, are factors that account for the high market growth in Asia-Pacific countries. The market analysis indicates that the Asia-Pacific advanced driver assistance system market accounted for a revenue of $3.2 billion in 2014.
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The increasing focus on driver's safety, the rising demand for comfort driving and safety regulations imposed by different governments, are some factors that fuel the growth of the advanced driver assistance system market. The increasing per capita incomes in the Asia-Pacific region have boosted the growth of the ADAS Market.
However, the high cost associated with installing ADAS applications incurs extra expenses for consumers and limits the growth of the advance driver assistance system market. Moreover, the testing and validation of these systems is a crucial and challenging aspect for ADAS developers.
China and India are forecasted to be the lucrative markets for advanced driver assistance systems. The segment of tire pressure monitoring system is expected to register a maximum CAGR of about 38.8% during the forecast period (2015-2020). Presently, the segment of adaptive front lighting system holds the maximum market share in the overall advanced driver assistance systems market. The radar sensors are majorly used for designing different advanced driver assistance systems.
The report also outlines the competitive environment of the Asia-pacific advanced driver assistance systems market, providing a comprehensive study of the key organic and inorganic strategies adopted by market leaders. The companies are focusing on product launch and technological advancements as key strategies to maintain their leading positions. The key players in the industry such as Continental AG, Robert Bosch GmbH, Hitachi Ltd. are engaged in the process of developing newer solutions and are majorly focusing on providing better services whilst upgrading the features of the existing products. Major companies profiled in the report are Denso Corporation, Valeo, Robert Bosch GmbH, Continental AG, Hitachi Ltd., BMW AG, AUDI AG, Toyota Motor Corporation, Ford Motors Co. and General Motors.
To request more information about the report, visit the website at http://www.apacmarket.com/top-market/advanced-driver-assistance-system-market
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