Global $2.76 Billion ADAS and Autonomous Driving Components Market, Analysis & Forecasts 2017-2026 - Market Driven by the Increa - Groupement ADAS : Advanced Driver Assistance Systems

21 mars 2018

Global $2.76 Billion ADAS and Autonomous Driving Components Market, Analysis & Forecasts 2017-2026 - Market Driven by the Increa

Global $2.76 Billion ADAS and Autonomous Driving Components Market, Analysis & Forecasts 2017-2026 - Market Driven by the Increase in the Number of Automated Vehicles

The global ADAS and autonomous driving components market generated $2.76 billion in 2016

The global ADAS and autonomous driving components market is largely driven by increase in the number of automated vehicles. In addition, stringent laws imposed by federal authorities mandating the use of autonomous systems in order to improve road safety and congestion are expected to drive the market at rapid pace. However, factors such as high sticker price of these components may limit the customer pool.

Furthermore, high risk associated with the usage of autonomous vehicles and security concern's towards vehicle data are challenges to be overcome for the growth of the market. On the other hand, the ADAS and autonomous driving components market offers extensive opportunities for the players in the semiconductor domain and due to lack of efficient sensors for autonomous vehicles, there are opportunities for the players to strengthen their market position.

Radar held the maximum market share in 2016, due to its extensive usage in parking assist, adaptive cruise control and blindspot detection system in both passenger cars and commercial vehicles. However, LiDARs are still under the testing phase, but because of their high functionality, the market of LiDARs is expected to grow exponentially during the forecast period.

In 2016, components market for level 1 automation held the maximum share. However, in the coming years, a shift in the market dominance may be witnessed, wherein, market for level 2 automated system components is anticipated to dominate the market by 2026. Increase in market penetration rate of higher level of automation (level 3, 4 and 5) in vehicles owing to the rise in concern towards driver safety will drive the components market for higher automation level at a rapid pace in the forecast period.

ADAS and autonomous driving components market for passenger cars dominated the total market revenue in 2016 due to the high market penetration rate of autonomous system in passenger cars and lesser integration complexities as compared to the commercial vehicles. At the same time, the market for the commercial vehicles is expected to increase at a rapid pace, due to the focus of federal organizations such as European Commission, and Ministry of Land, Infrastructure, Transport and Tourism (MLIT) on decreasing road accidents and mandating ADAS features in commercial vehicles.

The report also covers the global ADAS and autonomous driving market by geography and consequently provides the revenue of the key regions which include North America, Europe, Asia-Pacific (APAC), Middle East & Africa, and Latin America.