Advanced Driver Assistance System (ADAS) Market

Posted by pallavi on August 30th, 2019

Advanced Driver Assistance System (ADAS) Market was valued US$ 23.2 Bn in 2017 and is expected to reach US$ 89.8 Bn by 2026, at a CAGR of 18.43 % during forecast period. Global Advanced Driver Assistance System (ADAS) Market Rising traffic safety issues coupled with encouraging monitoring standards regarding the installation of these systems will primarily drive the industry growth in near future. Several governments across the globe have required the installation of ADAS, ensuring road safety. For example, in July 2010, Directive 2010/40/EU was executed in Europe for deployment of these systems in vehicles across the region. High acceptance from the emerging countries of Asia Pacific due to the rising disposable income of people will further accelerate the revenue generation. Rising demand from the compact cars, especially from China and Japan will also drive the advanced driver assistance system market share by 2026. High demand for luxury and premium vehicles across the globe will result in rising adoption of ADAS, so increasing the product penetration. Shifting preference of OEMs towards image sensors will contribute significantly in ADAS market growth. 

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pallavi

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pallavi
Joined: July 22nd, 2019
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