In 2019, ADAS market share in North America was around 30% with growing awareness about advanced vehicle safety systems and luxury features such as self-driving technology, infotainment. The U.S., which is the home of major automobile companies such as Volvo, Fiat Chrysler and Ford, is adopting these latest advanced technologies, and creating a huge product demand for ADAS solutions.

To take technological advantage and expand their businesses, major automobile companies are involved in creating and innovating new product range. For an example, in February 2020, Continental AG announced their expansion of production capacity for ADAS system and RADAR sensors by constructing a new plant in Texas, U.S.

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Nowadays, vehicles have become integral part of our lives. With the rise in purchasing power of working-class and increased numbers of vehicles on road, the raised safety concerns of the driver and vehicle has paved the way for advanced driver assistance systems (ADAS). To ensure vehicle safety, government has introduced various rules, regulations and encouraged the integration of advanced safety systems into vehicles.

For using enhanced safety applications, various research and development processes are underway. The consolidation of advanced technology such as AI (Artificial Intelligence), that will drive ADAS improvements. And according to a new research report published by Global Market Insights, Inc, the ADAS market size is expected to exceed US$60 billion by 2026 in terms of yearly remunerations, which was valued at over US$35 billion in 2019.

With the rise in demand for semi-automatic and automatic vehicles that are fully equipped with advanced technology, detecting any obstruction near the vehicle such as cars, cyclists and pedestrians is possible with LiDAR technology. The segment is expected to rise at nearly 10% CGAR from 2020 to 2026. The laser-based sensors create a 3D model of surroundings near the vehicle and helps in taking quick decision prior to any kind of collision.

Companies are involved in the continuous development of newly launched LiDAR system for autonomous vehicles, propelling potential growth for ADAS providers. Velodyne Lidar, Inc. in January 2020, announced the introduction of its brand-new “Velabit” for ADAS systems and autonomous vehicles and 3D LiDAR technology. To deal with the accident caused by over-speeding of the vehicles, various steps are being taken to authorize the consolidation of automated barking technologies and speed limiters.

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Some Point from Table of Contents:

Chapter 6. ADAS Market, By Sensor (Revenue)

6.1. Key trends, by sensor

6.2. LiDAR

6.2.1. Market estimates and forecast, 2016 – 2026

6.3. Infrared

6.3.1. Market estimates and forecast, 2016 – 2026

6.4. Ultrasonic

6.4.1. Market estimates and forecast, 2016 – 2026

6.5. RADAR

6.5.1. Market estimates and forecast, 2016 – 2026

6.6. Image sensor

6.6.1. Market estimates and forecast, 2016 – 2026

Chapter 7. ADAS Market, By Vehicle (Revenue, Shipments)

7.1. Key trends, by vehicle

7.2. PCV

7.2.1. Market estimates and forecast, 2016 – 2026

7.3. LCV

7.3.1. Market estimates and forecast, 2016 – 2026

7.4. HCV

7.4.1. Market estimates and forecast, 2016 – 2026

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About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

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Global Market Insights, Inc.

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WHAT TO TAKE AWAY FROM THIS ARTICLE:

And according to a new research report published by Global Market Insights, Inc, the ADAS market size is expected to exceed US$60 billion by 2026 in terms of yearly remunerations, which was valued at over US$35 billion in 2019.
For an example, in February 2020, Continental AG announced their expansion of production capacity for ADAS system and RADAR sensors by constructing a new plant in Texas, U.
With the rise in purchasing power of working-class and increased numbers of vehicles on road, the raised safety concerns of the driver and vehicle has paved the way for advanced driver assistance systems (ADAS).