New Report: ‘Global ADAS & Autonomous Driving Component Market’ to reach $56.6 billion by 2028
FREMONT, California, Jan. 30, 2019 /PRNewswire/ — According to a new market intelligence report by BIS Research titled “Global ADAS and Autonomous Driving Component Market – Analysis and Forecast, 2018-2028,” the market was valued at $4.8 billion in 2017 and is anticipated to reach $56.6 billion by 2028, growing at a CAGR of 22.31 percent during the forecast period from 2018 to 2028.
This growth can be attributed to the increasing demand for active safety features such as adaptive cruise control, blind spot detection, and automatic parking system, among others.
Furthermore, factors such as increasing government focus on streamlining traffic infrastructure, growing demand for highly autonomous vehicles (L4 and L5), and the increasing impetus from the government to develop connected and autonomous infrastructure are expected to drive the global market for ADAS and autonomous driving component market during the forecast period.
The rising number of road accidents has resulted in an increase in regulations by authorities about the safety of both the passengers and the pedestrians. These guidelines have led to a rise in the demand for the driver assistance feature for passenger cars and commercial vehicles. In addition to this, constantly evolving consumer preferences towards better driving experience and driver assist applications has succeeded in boosting the overall demand for ADAS and autonomous vehicles.
An evident surge is expected to occur in the number of vehicles, with automated features such as adaptive cruise control, parking assistance, lane departure warning, traffic jam assist, automated emergency braking, and blind spot detection. These automated features, when combined with telematics and connected car features is expected to lead to the development of fully autonomous or human independent vehicles.
According to our analyst Eshan Hira, “Electronic control unit (ECU) is currentlydominating the ADAS and autonomous driving component market and is anticipated tomaintain its dominance throughout the forecast period. This is mainly due to the higher costof ECU as compared to other components such as cameras, ultrasonic sensors, and radar.Additionally, the growing number of sensors and electronic components is anticipated toboost the demand for ECU. Moreover, due to the efficient performance and mandatoryusage of LiDARs in Level 3 or higher autonomous vehicles, the LiDAR market is expected togrow at the highest pace when compared with other components. Geographically, the regionof North America is currently dominating the market for ADAS and autonomous drivingcomponents. However, the APAC region is expected to witness the highest growth rateduring the forecast period (2018-2028) as compared to North America and Europe, owing tovarious factors such as growth in the demand for high-end passenger cars, stringentgovernment rules and regulations regarding driver safety.“
The market numbers play an important role in the industry, following which a proper market sizing and estimation by component, level of autonomy, vehicle type, and geographical location have been undertaken. The report has skillfully identified the potential for further development in the form of product developments & launches and business expansion, among others. The report includes a separate section on detailed competitive landscape. The recent activities by the key players in this market have also been tracked in the form of company profiles.
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary and SWOT analysis. The overall market has been segmented by component, level of autonomy, and vehicle type. The report also includes a comprehensive section on the geographical analysis which has been sub-segmented into four major regions, namely, North America, Europe, Asia-Pacific and Rest-of-the-World (RoW).
This report is a meticulous compilation of research on approximately 150 players in the ADAS and autonomous driving component market. Moreover, it draws upon insights from in-depth interviews of key opinion leaders of more than 25 leading companies, market participants, and vendors. The report also profiles around 18 companies who are key contributors in the market, including Analog Device, Inc, Infineon Technologies AG, Intel Corporation, NXP Semiconductors, Texas Instruments Incorporated Continental AG, Ibeo Automotive Systems GmbH, Robert Bosch GmbH, Denso Corporation, LeddarTech, Quanergy Systems, and Velodyne LiDAR, Aptiv, Autoliv, Inc., Magna International Inc., Murata Manufacturing Co., Ltd, Valeo, and ZF Friedrichshafen AG.
Key questions answered in the report:
What is ADAS and autonomous driving?
How big is the ADAS and autonomous driving component market in terms of revenue and what is the CAGR (2018-2028)?
What is the revenue generated by the different levels of autonomy such as level 1, 2, 3, 4, and 5?
What is the revenue generated by the different vehicle type such as passenger cars, and commercial vehicle?
What is the revenue generated by the different ADAS and autonomous driving component such as camera, ultrasonic sensors, radar, LiDAR, and ECU?
What is the revenue generated by the different regions such as North America, Europe, Asia-Pacific, and the Rest-of-the-World (RoW)?
Which are the key companies operating in the ADAS and autonomous driving component market?
Which global factors would impact the ADAS and autonomous driving component market?
What are the key market strategies adopted by the ADAS and autonomous driving component market players?
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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