North America Advanced Driver Assistance Systems (ADAS) Market (2018-2023)
North America 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 for autonomous vehicles. These systems are the foundation of next-generation automotive electronic safety systems and autonomous cars. A vehicle?s ADAS can detect objects and alert the driver of hazardous conditions or impending danger. The North America ADAS market is expected to reach USD 9.20 Bn by 2023 with a CAGR of 17.7% 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 U.S. and Canada. 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 the number of accidents. The ADAS market in North America is expected to grow with a rise in demand for automobiles, especially in the U.S. Major manufacturers exist in this region and combined with the available sophisticated technologies they fuel the ADAS market. Car sales across the U.S. have significantly increased implying a positive prospect of growth in the automotive industry. This industry in Canada is closely linked to that of the U.S., due to the North American Free Trade Agreement (NAFTA) and the Automotive Products Trade Agreement (APTA). Therefore, the market in this region is also growing. 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. The forward-collision warning systems still have difficulty identifying objects when a vehicle is traveling at high speed. Many of the most promising ADAS applications are still being refined or have not yet hit the market while others are expensive and mostly available in premium cars. But one of the most important factors inhibiting demand could be a lack of consumer awareness. Once consumers become familiar with ADAS, they will prefer cars with these features. The key competitors in the North America ADAS market are Continental AG, Autoliv Inc., Delphi Technologies, Denso Corporation, Bosch, Mobileye and others. What?s covered in the report? 1. Overview of the North America ADAS learning market. 2. Market drivers and challenges of the North America ADAS market. 3. Market trends in the North America 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 (the U.S. and Canada) 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 email@example.com.