BLOOMINGTON, Minnesota, October 13, 2017 /PRNewswire/ --
According to a new market intelligence report by BIS Research, titled "Global ADAS and Autonomous Driving Components Market, 2017-2026", the global ADAS and autonomous driving components (camera, radar, LiDAR, ultrasonic sensor and ECUs) market is estimated to grow at a CAGR of 38.6% during the forecast period 2017-2026. . The surge in demand of highly automated vehicles, increasing safety concerns, and stringent governmental regulations are the primary factors responsible for the growth of this market.
Browse 65 market Data Tables and 168 Figures spread through 331 Pages and in-depth TOC on "Global ADAS and Autonomous Driving Components Market"
The need for personal transportation, rapid urbanization, and increasing disposable income of the middle-income population of developing countries have influenced the vehicle market to substantially enhance its sales. The growing number of on-road vehicles has resulted in an increased number of road accidents. For instance, the number of fatal accidents in the U.S. increased by 7.2% from 2014 to 2015. Most of these accidents were the results of the errors made by drivers. This constantly rising number of accidents and increased safety concern for every being present both inside and outside of the vehicles have led the governments of different nations to mandate the usage of automated systems, thereby fuelling the ADAS and autonomous driving components market. To this end, the U.S. Department of Transportation's National Highway Traffic Safety Administration (NHTSA) announced the final rule to improvise vehicle safety in March 2014. The rule mandates the integration of rear visibility technology in all new automobiles which are under 10,000 pounds by May 2018.
In addition to this, a change in consumer preferences towards greater driving comfort and the expected increase in the number of automated vehicles are some of the factors driving the global ADAS and autonomous driving components market.
According to Abhimanyu Raheja, an analyst at BIS Research, "The overall number of automated vehicles is expected to reach more than 110 million by the end of 2026, which in turn will lead to a rapid expansion of ADAS and autonomous driving components. Due to the efficient performance and mandatory usage of LiDARs in level 3 or higher autonomous vehicles, the LiDAR market is expected to grow at the highest rate as compared to other components."
- Among all the components, a major contributor towards the market in 2016 was radar and it accounted for 37.1% share in 2016 by value.
- In the year 2016, level 1 (ADAS) components dominated the market. However, due to the expected increase in the number of level 2 equipped vehicles in the future years, it is anticipated that level 2 autonomous components will dominate the market.
- Geographically, Europe contributed the largest share of the market revenue of ADAS and autonomous driving market in 2016. Whereas, North America is expected to grow at the highest CAGR during the forecast period.
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This market intelligence report provides a multidimensional view of the global ADAS and autonomous driving components market in terms of market size and growth potential. This research report aims at answering various aspects of the global ADAS and autonomous driving components market with the help of key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that is going to shape the future trajectory of the market expansion. Further, the report provides a detailed market analysis and forecast with respect to various component types (cameras, radars, ultrasonic sensors, LiDARs and ECUs) and vehicle types, which include passenger cars and commercial vehicles (light commercial vehicles, heavy trucks and heavy buses). Additionally, on the basis of automation level, the ADAS and autonomous driving components market is segmented into level 1, level 2, level 3, level 4 and level 5 automation.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities such as product launches, regulatory clearance, certifications, partnerships, collaborations, business expansion, as well as mergers and acquisitions. The research report also provides a comprehensive analysis of the market share of the major manufacturers and value chain analysis.
This report is a meticulous compilation of research on more than 100 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 50 leading companies, market participants and vendors. The report also profiles 23 companies including several key players such as ZF Friedrichshafen AG (Germany), Velodyne LiDAR (the U.S.), Magna International Inc. (Canada), LeddarTech (Canada), NVIDIA Corporation (the U.S.), Robert Bosch GmbH (Germany), Continental AG (Germany), Delphi Automotive PLC (the U.K), Denso Corporation (Japan), Infineon Technologies AG (Germany), Mobileye N.V. (Israel) and Analog Devices, Inc. (the U.S), among others.
Key questions answered in the report:
- What the global ADAS and autonomous driving components market size is in terms of value from 2016-2026?
- Which component type is dominating the global ADAS and autonomous driving components market in terms of value?
- What is the revenue generated by the different automation level in the global ADAS and autonomous driving components market from 2016-2026?
- Which vehicle type in the ADAS and autonomous driving components market is expected to grow the fastest from 2016-2026?
- What are the different factors driving the market forward during the forecast period?
- What are the major factors challenging the growth of the global ADAS and autonomous driving components market?
- Which type of new strategies are being adopted by the existing market players to make a mark in the industry?
- Which region will lead the global ADAS and autonomous driving components market by the end of the forecast period?
- What is the market share of leading component manufacturers in the year 2016?
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About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials & Chemicals, Aerospace and Defence, Automotive, Healthcare, Electronics & Semiconductors, Robotics & UAV and other emerging technologies.
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