Advanced driver assistance systems (ADAS) market is designed to avoid crashes and accidents by use of advanced technologies such as camera, sensor, and actuator, among others which alert driver of potential risks and avoid collisions by applying safeguards and taking control of vehicle. Moreover, governments of different nations across the world are implementing rules and regulations to encourage the use of ADAS systems in vehicles. For instance, the U.S. Department of Transportation has proposed a new safety regulation in order to help eliminate blind zones behind vehicle which can hide the presence of people present behind the vehicle. According to the National Highway Traffic Safety Administration, every year around 292 fatalities and 18,000 injuries occur due to back-over crashes involving all vehicles. And out of 292, 228 fatalities occur in light vehicles which weigh 10,000 pounds or less.
Geographically, the global advanced driver assistance systems market is classified into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Europe is expected to experience significant growth in advanced driver assistance systems market due to constructive government policies and increasing research and development activities related to advanced driver assistance systems. A legal framework was adopted by all countries present in Europe to accelerate the execution of ADAS technology on 7th July 2010. The European Union is working towards the early adoption of advanced technology to enhance passenger safety and give priority to innovative transport technologies. Moreover, Sweden is promoting evidence-based ADAS in the national fleet in-house travel policies as well as through procurement. However, the European Union crash injury monitoring system needs to be established to check design, development, and implementation of new innovative technologies and their long-term effect on transportation.
North America is expected to dominate the global advanced driver assistance systems market owing to increasing awareness regarding safety concern among people and advent of multifunctional systems in vehicles. The demand for ADAS in automobile has increased at a significant pace owing to an increase in the number of road accidents due to human error and driver negligence in the region. In addition, multifunctional camera sensor is used in lane departure warning system and light control, which is likely to propel the growth of advanced driver assistance systems market in the region.
Increase in demand for advance driver safety system in the emerging economies such as China, India due to increase in road casualties and high growth in sales of luxurious vehicle in the region. The demand for ADAS in Asia Pacific region is fueled owing to the growing vehicle production in India, China, and South Korea, Among others. Moreover, high adoption rate of ADAS application such as blind spot detection system, adaptive cruise control, and lane departure warning system are decreasing in number of the accidents. Growing sales of luxurious vehicles and rapid adoption ADAS by automotive manufacturers are expected to drive global advanced driver assistance systems market.
Latin America is expecting healthy growth during the forecast period owing to the growing interest of major automotive manufacturers in setting up their production facilities in few countries of Latin America such as Brazil. Massive rate of currency depreciation has impacted advanced driver assistance systems market in Brazil.
Middle East and Africa may witness steady growth in the advanced driver assistance systems market due to the relatively slow rate of technological advancements in the region. The increased consumer preference towards driving self-possessed cars in the United Arab Emirates and countries of the Gulf Country Council may encourage the use of ADAS equipped vehicles in the region.
The global advanced driver assistance systems market is segmented into system, component, vehicle, and offers.
By system, the advanced driver assistance systems market is segmented into adaptive cruise control (ACC), adaptive front lights (AFL), blind spot detection system (BSD), lane departure warning system (LDWS), tire pressure monitoring system (TPMS), and others. Lane departure warning system (LDWS) is gaining traction in advanced driver assistance systems market owing to its significant features such as its ability to warn the driver when vehicle begins to move out of its lane. It is specifically designed by addressing main causes of accidents such as driver error, distractions, and others. For instance, by the opinion of ministry of transport research wing, in India, around 1,46,000 people were killed in road accidents in 2015 and this number went up to 1,50,785 in 2016.
In term of vehicle type, advanced driver assistance systems market is segmented into passenger car, light commercial vehicle, buses, and trucks. Passenger cars are expected to hold a major share of global advanced driver assistance systems market. This is majorly attributed to tremendous growth in demand for passenger cars and growing consumer preference towards self-driven cars. For instance, it is forecasted that there will be 21 million driverless cars in the United States and 27 million in Europe by 2030, according to a study by the U.S. government.
Global Advanced Driver Assistance Systems Market Segmentation
By Vehicle type