Automotive ADAS Aftermarket Market: Segmentation by technology (passive park assists, FCWS and LDWS, and others), vehicle type (passenger vehicles and commercial vehicles), and geography (North America, Europe, APAC, MEA, and South America)--Forecast till 2026|Technavio

NEW YORK, Feb. 7, 2022 -- The Automotive ADAS Aftermarket market is segmented into three categories based on the technology (passive park assists, FCWS and LDWS, and others), vehicle type (passenger vehicles and commercial vehicles), and geography (North America, Europe, APAC, MEA, and South America). The market share is expected to increase by USD 3.15 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.03%.

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Parent Market Analysis

Technavio categorizes the global automotive ADAS aftermarket market as a part of the global automotive components and accessories market within the global consumer discretionary market.

Technavio uses the total revenue generated by manufacturers to estimate the global automotive ADAS aftermarket market size. External factors influencing the parent market's growth potential in the coming years have been thoroughly investigated in our research analysis, to know more about the levels of growth of the automotive ADAS aftermarket market throughout the forecast period, Download a free sample.

Automotive ADAS Aftermarket Market Value Chain Analysis

To maximize profit margins and evaluate business plans, an end-to-end understanding of automotive ADAS aftermarket is required. The report will help vendors drive costs and enhance customer services during the forecast period.

• Inputs
• Inbound logistics
• Operations
• Distribution and logistics
• Marketing and sales
• Services
• Industry innovations

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Vendor Insights 

The automotive ADAS aftermarket market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. To make the best of the opportunity, the market vendors should focus more on the fast-growing segment's growth prospect while maintaining their positions in the slow-growing segments.

We provide a detailed analysis of vendors operating in the automotive ADAS aftermarket market, including some of the vendors such as Brandmotion LLC, Continental AG, Garmin Ltd., Gentex Corp., Intel Corp., Knorr Bremse AG, Nortek Security and Control LLC, Valeo SA, VOXX International Corp., and Wabtec Corp.

Backed with competitive intelligence and benchmarking, our research reports on the automotive ADAS aftermarket market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Product Insights and News

• Brandmotion LLC - offers automotive ADAS aftermarket that includes fleet works safety solution, fulvene commercial camera system, blind-spot monitoring, and detection, radar blind-spot monitoring, camera blind-spot monitoring, under the brand name of Brandmotion LLC.
• Continental AG -  offers automotive ADAS aftermarket that includes technologies for future mobility, autonomous mobility, automated driving, connectivity, electric mobility safety technologies, infotainment in the car, agriculture, under the brand name of Continental AG.
• Garmin Ltd. - offers automotive ADAS aftermarket that includes Dash and Backup Cameras, Discontinued, Automotive Map Update, Automotive OEM Solutions, and many more, under the brand name of Garmin Ltd.

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Geographical Highlights

The automotive ADAS aftermarket market share growth in APAC will be significant during the forecast period. China and Japan are the key markets for the automotive ADAS aftermarket in APAC. Market growth in this region will be faster than the growth of the market in North America, Europe, and MEA.

In North America, the United States was the leading contributor to the car ADAS aftermarket. Because of the strong presence of prominent vendors and increased customer awareness about ADAS, the country is seeing a spike in aftermarket demand for ADAS technologies. Because of the vast number of early adopters, North America is one of the front runners in adopting revolutionary automobile technologies. As a result, the aftermarket adoption of ADAS technologies in the region is in high demand. In addition, customer awareness of ADAS is high in North America, where most ADAS technologies are becoming standard in new automobiles.

Moreover, countries like the US, Germany, China, France, and Japan are the key market for the automotive ADAS aftermarket market in APAC, owing to the significant increase in the adoption of the automotive ADAS aftermarket in this region.

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Key Market Dynamics-

• Automotive ADAS Aftermarket Key Market Drivers: 
• The decline in sensor prices

Because of the widespread use of displays in the consumer electronics and automotive categories during the previous decade, automobile OEMs were able to lower the cost of entertainment systems used in vehicles, further increasing market penetration. Similarly, as the use of sensors such as radars and cameras grows in the automobile sector, the price of these sensors continues to fall, supporting the expansion of the automotive ADAS aftermarket market. For example, global smartphone shipments were almost 1.3 billion devices in 2018. As a result, camera suppliers were able to lower camera prices, which are an important component of many ADAS technology.

•  Automotive ADAS Aftermarket Key Market Challenge:
•  The adoption of active ADAS technologies by OEMs

Because of their cost-effectiveness, aftermarket adoption of ADAS is confined to passive devices that deliver only alerts or cautions to drivers. However, as the adoption of advanced ADAS technologies such as adaptive cruise control (ACC) and advanced emergency braking system (AEBS) has increased in mass-market vehicles, automotive OEMs are not limiting their offerings to passive systems, resulting in a technology gap between OEM and aftermarket ADAS offerings. Furthermore, user acceptance of aftermarket ADAS is hampered by a lack of faith in ADAS. Users are questioning system reliability, which is limiting the adoption of ADAS systems in the aftermarket. During the projected period, such factors are expected to have a negative influence on the market in question.

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