The global advanced driver assistance system (ADAS) market should reach $59.1 billion by 2021 from $23.8 billion in 2016 at a compound annual growth rate (CAGR) of 19.9%, from 2016 to 2021.
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- The base currency considered was the U.S. Dollar (USD). The conversion of other currencies to USD was considered based on the average exchange rate for the respective review period years. The exchange rate conversion for forecast period was determined according to the base year’s conversion rates.
- The base year was identified based on the availability of annual reports and secondary information. The base year considered for this study is 2015.
- The review period considered for this study is 2011 to 2015. The forecast period is from 2016 to 2021.
- Market size estimates for the forecast years were in real terms. Inflation is not part of the pricing and the Average Selling Price (ASP) was kept constant through the forecast period for each country.
- Distribution of primary interviews conducted was based on the regional share of the market and the presence of key players in each region.
- Because of data triangulation through multiple methodologies and approaches, the weighted averages of resulting estimates were considered to be the final values.
- An overview of the global markets for advanced driver assistance systems (ADAS).
- Analyses of global market trends, with data from 2015 and 2016, and projections of compound annual growth rates (CAGRs) through 2021.
- Segmentation of the market by products, by sensor type, and by vehicle type.
- Regional analyses of the market by country.
- Information on important manufacturers, technologies, and factors influencing demand.
- Discussion of merger, acquisition, and collaboration strategies in the industry.
- A look at major suppliers of ADAS and analysis based on market shares, product types, and geography.
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The Global Advanced Driver Assistance System (ADAS) market was valued at $23.8 billion in 2016 and is expected to reach a value of nearly $59.1 billion by 2021, growing at a CAGR of 19.9% during the forecast period of 2016 to 2021. The accelerating need for road safety systems along with demand for fuel-efficient vehicles will help to boost the global demand for ADAS significantly. The global ADAS market is calculated based on the sales of various products such as processors (e.g., electronic control units and microcontroller units), sensors, semiconductors, software and its algorithms, mapping systems and electrical systems.
Over the past few years, buyers’ growing concern about automotive safety has resulted in increased demand for advanced safety features, particularly for mid-priced vehicles. The overall dynamics of the global automotive industry is changing at a rapid pace. Automobile manufacturers believe that the overall demand for mid-priced vehicles is expected to increase by 18% to 20% by 2021. These vehicles have been designed and manufactured following buyers’ preferences, in addition to being equipped
with basic components. Companies such as Continental AG and Autoliv are entering into partnerships with OEMs to develop and manufacture low-cost assistance systems. This in turn helps manufacturers reduce the price of ADAS and attain economies of scale. As this takes place, implementation of ADAS in low-cost cars will increase in the coming years. A consistent increase in demand for compact and midsize automobiles equipped with advanced safety features is also expected to propel the growth of this
Initiatives have been undertaken by various associations, such as the National Highway Traffic Safety Administration (NHTSA) Safecar Project, which has helped significantly drive the adoption of ADAS in domestic vehicles in North America, thereby driving the overall market growth in this region. The European Automotive Industry, on the other hand, is one of the major and most innovative automotive markets in the world. There has been a massive transformation in the industry in the postrecession of 2010 period as there has been rapid market penetration and mass adoption of ADAS among the customers. Also, there are regular upgrades in the ADAS technology that facilitates competitiveness in the global ADAS market. Growth of the ADAS market is currently hindered by the growing number of incidences of software failures in sensors. The price of ADAS systems is also a major hurdle for their wide acceptability. However, the rapidly expanding hybrid and electric vehicle market, coupled with the growth of the market for autonomous vehicles, are expected to drive the growth of the automotive ADAS market significantly during the forecast period.
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