Europe Advanced Driver Assistance Systems (ADAS) Market (2018-2023)
Europe advanced driver assistance systems (ADAS) market 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 Europe ADAS market is expected to reach USD 7.88 Bn by 2023 with a CAGR of 17.2% during 2018-2023. 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 the European Union Five (EU5) and the Rest of European Union (EU). 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 driver safety 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 number of accidents. Post the recession period of 2010, with a huge transformation in the automotive industry in Europe, there has been mass adoption and rapid penetration of ADAS by the Original Equipment Manufacturers (OEMs) and customers. Regular upgrading of ADAS technologies facilitate the competitiveness of the automotive market, thereby making it one of the largest markets of the global ADAS 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. Active safety systems and ADAS are largely provided as optional packages in vehicles in Europe which are relatively expensive. The key competitors in the Europe ADAS market are Continental AG, Autoliv Inc., Delphi Technologies, Bosch, BMW AG and others. What?s covered in the report? 1. Overview of the Europe ADAS learning market. 2. Market drivers and challenges of the Europe ADAS market. 3. Market trends in the Europe ADAS market. 4. Historical, current and forecasted market size data for the segment based on vehicles. 5. Historical, current and forecasted market size data for the segment based on sensors. 6. Historical, current and forecasted market size data for the segment based on components. 7. Historical, current and forecasted country-wise (EU5 and Rest of EU) market size data for the ADAS market. 8. Historical, current and forecasted market size data for country-wise segments. 9. Analysis of company profiles of major competitors operating in the market. Why buy? o Understand the demand for ADAS to determine the viability of the market o Identify the challenge areas and address them o Develop strategies based on the drivers, trends and highlights o Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed o Recognize the key competitors of this market and respond accordingly o Knowledge of the initiatives and growth strategies taken by the major companies and decide the direction of further growth o Define the competitive positioning by comparing the products and services compared with the key players in the market Customizations available With the given market data, Market Research Outlet offers customizations according to specific needs. Write to us at firstname.lastname@example.org.