Global Automotive ADAS and Autonomous Driving Components Market 2019-2023
Posted by sarahbennu on December 16th, 2019
The global automotive ADAS and autonomous driving components market is expected to post a CAGR of over 23% during the period 2019-2023, according to the latest market research report by Technavio. A key factor driving the growth of the global automotive ADAS and autonomous driving components market is the stringent regulations to increase adoption of ADAS. With passenger safety becoming a prime concern for automotive manufacturers, the adoption of various active and passive automotive safety systems is increasing significantly. Safety agencies such as NCAP and country-specific government bodies as well as general awareness among consumers are playing a pivotal role in the increasing adoption of ADAS features across vehicle classes. The increasing demand for ADAS will boost the growth of the market during the forecast market.
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Global automotive ADAS and autonomous driving components market: Growing prominence of Lidar sensors in ADAS and autonomous driving
Several proven beneficial outcomes of Lidar sensors over the other sensors available in the market, have made these sensors the preferred choice for automated driving systems. Lidar has better capabilities with respect to detection of objects and even in the complete absence of light. Therefore, vendors are working to develop Lidar sensors for specific applications of ADAS. The next generation Lidar sensor manufacturers are working on continuous wave frequency modulated (CWFM) technology for Lidar sensors, that is immune to background light, which make them supreme for automotive applications. Therefore, the growing prominence of lidar sensors will have a positive impact on the global market during the forecast period.
“Apart from the stringent regulations to increase the adoption of ADAS, factors such as the growing popularity of camera technology in ADAS and autonomous driving systems and the prioritization of automotive safety in automotive industry will fuel the growth of the global automotive ADAS and autonomous driving components market during the forecast period,” says a senior analyst at Technavio for research on automobiles & components.
Global automotive ADAS and autonomous driving components market: Segmentation analysis
This market research report segments the global automotive ADAS and autonomous driving components market by type (radar sensors, image sensors, ultrasonic sensors, infrared sensors, and others), and geographical regions (APAC, EMEA, and the Americas).
The EMEA region led the market in 2018, followed by the Americas and APAC respectively. EMEA will continue to dominate the market with the highest incremental growth during the forecast period.
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Joined: July 1st, 2019
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