China ADAS market to reach 3.1 billion by 2019: IMS Research
China: A recent report by IMS research, now part of IHS, forecasts that the market for automotive Advanced Driver Assistance Systems (ADAS) in China is forecast to grow quickly from $971.0 million in 2013 to $3.1 billion in 2019 in light of rising awareness on ADAS benefits among the Chinese.
Fitment rates for most ADAS products are currently very low in China, typically installed only in luxury and some high-end light vehicles because of their high cost. However, most ADAS mechanisms are predicted to see a big increase in China in both shipments and fitment rates starting this year until 2019, due to the growing awareness of driver safety from both consumers and vehicle manufacturers. Some of the ADAS products set to enjoy growth in the country include adaptive cruise control, blind-spot detection and self-parking systems.
Overall, the China ADAS market will triple in value within six years from the present. Growth rates will mostly be in the 19 to 20 percent range during the initial years of the forecast, moderating to a still-robust 13 percent in the last two years.
And while the overall ADAS market is set for tremendous expansion, not all ADAS products will enjoy strong growth. Systems like driver monitoring, high-beam control, night vision, multiview systems and intelligent speed adaptation will encounter a slower market because of high product costs, unique driving behavioral patterns in China and low consumer awareness or acceptance. .
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