DUBLIN--(BUSINESS WIRE)--The "North America ADAS Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The market is poised to register a CAGR of over 16 % during the forecast period (2020-2025).
The automotive industry is witnessing various technological advances that have shifted the way we commute. The vehicles are becoming safer, greener, and connected.
With these technological transformations, ADAS has helped the drivers to feel safer on the road. OEMs are now putting more attention on educating customers about the benefits of the new technologies in the ADAS sector. OEMs are offering customers an option to choose the needed features and make a customized combination of the different ADAS features for their vehicles.
Government initiatives are some of the major contributing factors for market growth, as governments are mandating driver assistance systems to reduce the cases of road fatalities.
Key Market Trends
Growing Electric Vehicles Demand Driving the Market
The United States witnessed a jump in sales by 81% in 2018 of electric vehicles from that of 2017 sales. In the United States, the sales of electric vehicles jumped from 199,826 in 2017 to 361,307 in 2018. Many new electric vehicles are expected to be supplied by major automakers in the coming years. Thus, the ADAS manufacturers are gearing up to catch the fastest growing market by developing new safety technologies for future vehicles.
Hyundai Nexo FCEV has an automatic park and retrieves feature, without any driver assistance needed. Its ADAS also includes a driver warning system, rear collision avoidance assist, lane-keeping, and departure avoidance assist, highway driving assist, forward collision warning, vehicle start alert, smart cruise control, and high beam assist.
Similarly, in 2020, BMW has launched plug-in hybrid 330e and 330e xDrive. Its ADAS includes active cruise control with stop and go, which can accelerate and slows automatically to maintain the desired speed set by the driver. It also has standard features such as active guard, frontal collision warning, city collision mitigation, and lane departure warning.
Passenger Cars Captures Major Market Share
Globally, around 80% of the passenger cars and commercial vehicles are featured with at least a few ADAS features. The mature markets like North America have ADAS penetration more than the global average. Passenger cars will be the main contributor to the ADAS technology mass acceptance, as previously it is the feature of luxury and high-end cars but now major manufacturers are expected to implement ADAS in low-priced cars in the coming years. A consistent increase in the demand for compact and mid-sized automobiles equipped with advanced safety features is expected to propel the growth of the ADAS in passenger cars.
For instance, 2021 Honda Insight, comes with standard Honda Sensing technology, where the car has features such as blind-spot information (BSI) with Cross Traffic Monitor.
Similarly, in 2019, Hyundai Motor Group has announced that they have developed a Machine Learning based Smart Cruise Control (SCC-ML). This technology with the help of artificial intelligence assess the driver's patterns and incorporates them into a self-driving pattern.
The North America ADAS market is fragmented with the presence of many major players, like Bosch, Continental AG, and Visteon Corporation. The market is transforming at a rapid pace, and in the coming year, many new technologies will come to challenge the existing one. The ADAS technology companies and car manufacturers are expanding their market presence and increasing their R&D efforts to provide the best safety features to the driver.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Adaptive Cruise Control System
5.1.2 Adaptive Front-lighting
5.1.3 Night Vision System
5.1.4 Blind Spot Detection
5.1.5 Autonomous Emergency Braking System
5.1.6 Lane Keeping Assist
5.1.7 Driver Drowsiness Alert
5.1.8 Lane Departure Warning
5.1.9 Other Types
5.2 By Technology Type
5.3 By Vehicle Type
5.3.1 Passenger Cars
5.3.2 Commercial Vehicles
5.4 By Country
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Robert Bosch GmbH
6.2.2 Continental AG
6.2.3 Visteon Corporation
6.2.4 Hyundai Mobis
6.2.5 LG Electronics
6.2.6 Delphi Technologies
6.2.7 Hitachi Automotive Systems
6.2.8 Velodyne Lidar
6.2.9 Magna International
6.2.10 ZF Friedrichshafen AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/w4d3km
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