Asia-Pacific advanced driver assistance systems (ADAS) market,Industry Insights by Growth, Emerging Trends and Forecast By 2023

Asia-Pacific advanced driver assistance systems (ADAS) market,Industry Insights by Growth, Emerging Trends and Forecast By 2023

Sep 23, 2019 (AmericaNewsHour) -- ADAS are systems that support, complement, or substitute the driver of a vehicle. These systems help drivers to avoid collisions and accidents. It is a set of systems used in vehicles to provide an intelligent and comfortable driving experience. They use radar and cameras to assist the drivers by providing real-time information about the surroundings. ADAS is leading the way to autonomous vehicles. These systems are the foundation of next-generation automotive electronic safety systems and autonomous cars. A vehicle's ADAS can detect objects, alert the driver of hazardous conditions or impending danger. The Asia-Pacific ADAS market is expected to reach USD 9.69 Bn by 2023 with a CAGR of 28.6% during 2018-2023. The ADAS market in the Asia Pacific is anticipated to witness a substantial and rapid growth over the next decade due to various developments in its major economies, especially the market in China.

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The market is divided into three primary segments based on vehicle, sensor and component.
Based on vehicle, the market is segmented into passenger and commercial vehicles.
Based on sensors, the market is divided into image, radar, lidar and other sensors (ultrasonic, 
infrared and laser sensors).
Based on components, the market is classified into adaptive cruise control (ACC), parking assistance (PA), lane departure warning (LDW), tire pressure monitoring (TPM), blind spot detection (BSD), autonomous emergency braking (AEB) and others (adaptive front lighting, drowsiness monitor, forward collision warning, head-up display and driver monitoring systems).
On the basis of countries, the market is segmented into China, Japan, India, and Rest of Asia-Pacific (APAC).

Key growth factors

The increasing government initiatives for mandating driver assistance system in order to lower road accidents is expected to proliferate market growth. Higher adoption of these systems in small cars is anticipated to further boost the market demand. Rising levels of technological innovation, as well as growing initiatives towards vehicle automation and self-drive cars have raised the demand for the safety of the driver and assistance systems over the past decade. The adoption of ADAS applications such as ACC, BSD, LDW and night vision are leading to reduction in the number of accidents. The growing need for a safe driving environment has led to the demand for comfort driving among people. Rising per capita income and government safety regulations are also contributing to the growth of the safety systems in the automotive industry.

Threats and key players

The growth of the ADAS market is currently hindered by the growing incidence of software failures in sensors coupled with the high cost of these systems that have acted as major restraining factors for the wide acceptability of these systems. In the rapidly growing vehicle automation and ADAS market, the big challenge is to improve system accuracy and performance without hiking the price. In China, not every ADAS technology will experience significant growth in the near future. Some systems like night vision, driver monitoring, multi-view systems, intelligent speed adaptation and night vision are anticipated to display restrained growth in the coming years.
The key competitors in the Asia-Pacific ADAS market are Continental AG, Autoliv Inc., Delphi Technologies, Denso Corporation, Bosch and others. 

Read more : https://www.marketwatch.com/press-release/asia-pacific-advanced-driver-assistance-systems-adas-marketindustry-insights-by-growth-emerging-trends-and-forecast-by-2023-2019-09-23