Growing automotive industry has proliferated rising need for safety of the vehicle as well as the passengers, thus in turn foserting the growth of the market.
— Emergen Research
VANCOUVER, BC, CANADA, May 18, 2022 /EINPresswire.com/ — The Global Advanced driver-assistance systems and Autonomous Driving Components Market is projected to reach USD 118.03 billion in 2027. The continual development in automotive electronics sensors application and technology, the rising concern for safety, increasing demand of automation in automobiles, demand of concept cars from high-income consumers and increasing use of sensors in hybrid semi hybrid and electric cars are boosting the demand of Advanced driver-assistance systems and Autonomous Driving Components market.
The rising number of government initiatives globally related to the safety of the vehicles coupled with the rising demand for safe and efficient vehicles are the major factors attributing to the growth of the ADAS market over the forecasted period.
Usage of sensors have been enormous in automotive. Sensors are being used in almost all parts of the vehicle like chassis, engines, clutch, brakes, transmission, control, and safety. Automotive sensors are majorly used in powertrains to monitor speed, position, pressure, gas, and temperature inside the engine. These sensors are required for safe and efficient operations of powertrains. Emission regulations and stringent fuel-efficiency norms formulated by several governments of different countries are propelling the growth of the market in this segment. Meeting analog information related to temperature and pressure of automobiles for use by their digital control units is critical to meet desired fuel-efficiency and emission regulations. These sensors help vehicle’s engines in burning fuel more efficiently by providing precise data to engines to improve the fuel efficiency according to requirements of the vehicles.
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Key Findings from the Advanced driver-assistance systems and Autonomous Driving Components Report Suggest:
LiDAR sensor is one of the most crucial sensors for autonomous vehicles. Companies, such as Toyota, Uber, and Alphabet, among others, who are testing self-driving and autonomous vehicles, are heavily relying on LiDAR sensors to track vehicles on comprehensive maps to navigate quickly and identify other vehicles and pedestrians easily.
The passenger car segment is forecast to retain its leading place in the industry owing to the augmenting need for safe, efficient, and high-performing vehicles in the developed and developing nations.
Asia Pacific is estimated to be the dominating market during the projected timeframe, with China being the key revenue-generating region in the industry. The implementation of automotive sensors and ADAS has also seen a massive surge in other APAC regions such as Japan, India, and South Korea
Prominent players in the industry are Veoneer, Robert Bosch, Aptiv, Denso, Continental AG, Analog Devices., Valeo, ZF Friedrichshafen, Hyundai Mobis, and Magna International, among others.
TTTech Auto, a leader in the autonomous driving’s safety software platform, in January 2020, announced it had gained a controlling stake of Red Pine Software, a Turkish software firm with expertise in ADAS. The acquisition enabled TTTech Auto to augment its software development ability for ADAS and an automated driving series project that feature MotionWise, its flagship component.
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For this report, Emergen Research has categorized the Global Advanced driver-assistance systems and Autonomous Driving Components Market based on system, vehicle type, propulsion, type, and region:
System Outlook (Volume, Thousand Units; Revenue, USD Billion; 2017-2027)
Automatic Emergency Braking
Traffic Jam Assist
Driver Monitoring System
Adaptive Front Light
Adaptive Cruise Control
Forward Collision Warning
Blind Spot Detection
Lane Departure Assistance
Road Sign Recognition
Intelligent Park Assistance
Pedestrian Detection System
Night Vision System
Vehicle Type Outlook (Volume, Thousand Units; Revenue, USD Billion; 2017-2027)
Light Commercial Vehicle (LCV)
Heavy Commercial Vehicle (HCV)
Propulsion Outlook (Volume, Thousand Units; Revenue, USD Billion; 2017-2027)
Fuel Cell Electric Vehicle
Battery Electric Vehicle
Plug-in Hybrid Electric Vehicle
Hybrid Electric Vehicle
Type Outlook (Volume, Thousand Units; Revenue, USD Billion; 2017-2027)
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Regional Outlook (Volume, Thousand Units; Revenue, USD Billion; 2017-2027)
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
Significant Features of the ADAS and Autonomous Driving Components Market Report:
Assessment of the existing and emerging trends of the business sphere
Detailed analysis of the emerging growth opportunities and threats and limitations the players might face in the coming years
Significant breakdown of the market to assess the factors that might influence the global market growth
An 8-year forecast for better understanding of the workings and growth opportunities of the market
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Advanced driver-assistance systems and Autonomous Driving Components Market Size Worth USD 118.03 Billion By 2027