Advanced Driver Assistance Systems (ADAS) Market Size, Share & Trend Analysis
The global Advanced Driver Assistance Systems (ADAS) market size was estimated at USD 14.15 billion in 2016. Increasing demand for these systems in compact cars is anticipated to be a key factor driving market growth. Additionally, increasing government regulations for mandatory implementation of ADAS in vehicles is anticipated to grow the demand for these systems over the forecast period.
The rising demand for advanced systems such as drowsiness monitoring, night vision, and road sign recognition system is expected to impact the overall industry over the next seven years. The demand for traditional ADAS systems such as adaptive cruise control, autonomous emergency braking system are anticipated to grow exponentially owing to increased government regulations to reduce road accidents and improve road safety. For instance, the European Union has passed a bill which mandates the implementation of adaptive cruise control systems in heavy commercial vehicles by 2020, which is further projected to spurs the industry demand for these systems in European countries.