The global ADAS market was valued at $22 billion in 2015 and is expected to surpass $54 billion by 2020, says Technavio.
Technavio’s automotive electronics portfolio has announced its latest market research report on ADAS for the forecast period, 2016-2020. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global ADAS market during the forecast period. Some of the top vendors listed in this industry analysis include Bosch Continental, Delphi, Magna, Valeo, and ZF-TRW
“Cameras are expected to have maximum growth in the ADAS market and will replace side and rear-view mirrors in vehicles. The installation of cameras, especially HD cameras, offers many benefits to the customer such as better visibility during fog, ensures safety, zoom in/out option and improves fuel efficiency by making automobiles more aerodynamic. Such advantages have led the automobile manufacturers replace rear and side-view cameras with HD cameras, which stream videos to the display units installed on the dashboard,” says Siddarth Jaiswal, a lead analyst at Technavio for research on automotive electronics.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Supply side drivers
The technology used in automotive infotainment has been evolving with the rapid changes in the consumer preferences. Due to the growing demand for safe and hassle-free navigation, automotive entertainment systems have witnessed integration with navigation, CD changers, and phones. The upgradation of infotainment design to the fifth generation technology, such as introduction of telematics with navigation systems and phone integration, will drive the market for ADAS. The systems are now shifting towards rooted and phone-based applications. Moreover, developments in sensor fusion using methods like Kalman filtering will enhance the growth of ADAS-based components such as IMU sensors in the coming years.
Demand side drivers
The development of advanced automobile systems is mainly driven by the quest for automobile safety. The growing awareness of consumers towards safety systems and technologies, has broadened the spectrum of advanced safety and security features, which is not only limited to premium vehicles. Rapid advancements have also led to the installation of cameras and sensors even in the entry-level vehicles. Such improvements have resulted in the surging demand for in-vehicle electronic devices to examine situations accurately and prevent accidents. These advanced safety applications enable drivers to avoid road accidents, and alert them about possible risks. The increasing concerns over the safety of passengers and pedestrian have pushed the automobile manufacturers to introduce safety systems such as surround-view systems, NVS, pedestrian protection systems, and FCW in their vehicles. They are also focusing on installing cameras equipped with LDWS and FCW. For instance, ADAS manufacturers such as ZF TRW, through its business division Active and Passive Safety Technology, developed FCW, which uses both camera and radar sensors to monitor the road. The reduced moto vehicle accidents and the growing number of aging drivers have fueled the demand for advanced safety technologies, driving the growth of the overall ADAS market.
Consumer behavior drivers
The rise in the number of road accidents and the growing safety concerns have led the consumers emphasize more on safety systems in their vehicles. This is the reason why safety features rank higher on average than infotainment in both US and Western Europe. Most of the accidents, around 80% of them, is due to the driver’s fault that results in pedestrian deaths. The main cause of these fatal accidents globally is the reduced visibility at night, misjudgment while driving, and drowsiness in drivers. Such risks have augmented the requirement for ADAS systems such as BSD, LDWS, FCW, and ACC in vehicles. ADAS technologies have the potential to curb over 30% of these accidents where the autonomous systems can curb it by around 90%. The alarming rise in the number of road accidents has propelled the adoption of safety systems like ADAS.
Some of the other prominent vendors identified in this report are ADASENS Automotive, BASELABS, Bosch SoftTec, CogniVue, Elektrobit, Jasmin Infotech, Navigon, Nexyad, Mobileye, Omnivision, Aptina, nVidia, Qualcomm, Freescale, IAV, KPIT Cummins, Neusoft, Ricardo, Tata Elxsi, Tata Consulting, and Wipro.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global ADAS Market 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Commercial Vehicle Advance Driver Assistance Systems Market 2016-2020
- Global Lane Departure Warning System Market 2016-2020
- Global Motorcycle Side View Assist System Market 2016-2020
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