SEMA Sees Profit in Aftermarket ADAS
While at the OE level the price of ADAS technologies may be going down, and their availability across various model lines is going up, some still see aftermarket ADAS as necessary well into the future.
LAS VEGAS – Compared with the wheel and tire companies, those with aftermarket advanced driver-assistance systems (ADAS) have had a relatively small presence at the annual SEMA show here.
But their numbers are growing, says a top official of SEMA, which recently commissioned a study finding opportunities for companies to profit from the sale of aftermarket ADAS systems in the U.S.
“Yes, there is a market for aftermarket ADAS equipment to be retrofitted (and) that market is $1.5 billion out to the year 2022,” John Waraniak, SEMA vice president-vehicle technology, tells WardsAuto of the study, conducted by the Center for Automotive Research/Ducker Worldwide.
“So it’s a pretty small window that has opened up, yet it’s a whole new area that aftermarket didn’t even exist for these systems (in recent history).”