Despite the scarce availability of technological resources and average production infrastructure in developing countries, advanced driver assistance systems - also known as ADAS - are making inroads, and will continue to advance at a striking CAGR of ~13% during 2019-2027. A spurt in their popularity is attributable to increasing road safety concerns. Once being a cosmetic feature in high-end vehicles, advanced driver assistance systems are working their way down to less-premium models, and much of this has to do with regulatory norms legislated towards raising driver safety and alertness.
The global advanced driver assistance system market is projected to reach ~US$ 154 Bn by 2027, expanding at a CAGR of ~13% during the forecast period.
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Though the cost-prohibitive nature of ADAS poses a challenge for their integration in vehicles, market majors such as Continental and Autoliv collaborate with OEMs to scale price backwards. The move is projected to fuel more reciprocal advantage-based collaborations in the ADAS market, and bring in a spurt in the integration of ADAS in all vehicle models.
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ADAS Market - Research Methodology
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. With the help of primary research, interviews were conducted with key industry heads, market players, and opinion leaders. In addition, a review of key players’ product literature, revenue share for their business segments, their annual reports, press releases, and relevant documents was done to gain an incisive understanding of the advanced driver assistance system market. With the help of secondary research, various reliable Internet sources, and statistical data from government websites, trade associations, and agencies, key insights were derived.