July 25, 2017
Wellesley, Mass., Jul 25, 2017 – The global advanced driver assistance system (ADAS) market is expected to gain $35.3 billion from 2016 to 2021, reaching a total of nearly $59.1 billion in the end year. According to a new report by BCC Research, Advanced Driver Assistance Systems: Technologies and Global Markets, the market's prodigious growth stems partly from the accelerating need for road safety systems along with demand for fuel-efficient vehicles, both key factors that triggering unprecedented changes in the auto industry.
The BCC Research report found that more established high-tech companies, including semiconductor makers, are actively pursuing ADAS opportunities despite any previous presence in the automotive sector. For example, Intel, Nvidia, Panasonic, Qualcomm, Samsung and Sony are going after such opportunities, including those related to sensors, ECUs and MCUs, systems and systems-on-a-chip. Meanwhile, key players such as Denso, Continental, Aisin, Delphi and Valeo are trying to maintain their dominance in the market by launching innovative products with enhanced safety features.
The global ADAS market is calculated based on the sales of products such as processors (e.g., electronic control units and microcontroller units), sensors, semiconductors, software and its algorithms, mapping systems and electrical systems. The major trends with notable growth are increased electronic content and electronic integration, deployment of ADAS in low-cost cars and a rise in the number of driverless cars.
"In the developing economies, as sales of vehicles increase, more customers are opting for ADAS features in their vehicles. Initially, few consumers adopted these systems due to their high cost and because they were unaware of their benefits," says Jaydeep Bhattacharjee, BCC Research analyst and author of the report. "However, with new government regulations in place and greater awareness of the proven safety benefits, these systems have gained traction with consumers. Majority of the ongoing installations are occurring in the aftermarket, as drivers want to avoid buying a new vehicle to get ADAS."
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at email@example.com.
Advanced Driver Assistance Systems: Technologies and Global Markets( IAS115A )
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email firstname.lastname@example.org or visit www.bccresearch.com/media to request access to our library of market research.