July 9, 2020, Valsad, India – According to the research study published by Evolve Business Intelligence, the advanced driver assistance system market is expected to grow at a CAGR of 18.6% from 2020 to 2027. The ADAS market is expected to reach $77,139.4 million by 2027. The factor impacting the overall growth of ADAS market growth include stringent government regulation for vehicle safety coupled with growing demand for vehicle safety, advancement in the technology, and others.
According to EBI Analysis, “the recent COVID-19 scenario is anticipated to decrease the production and supply of the vehicles, which have resulted in the halt in the automotive industry.” The decline in the sales of the vehicle will be the major concern for the automotive vehicle manufacturers in 1-2 years. However by 2020 the ADAS market is expected to witness in the boost due to mandate for the installation of the system in the vehicles.
Continental AG to hold the highest market share in ADAS Market
The ADAS market is a technology driven system which consist of major players such as Continental AG, Robert Bosch GMBH, Denso Corporation, Autoliv Inc., Valeo, and among others. Continental AG is predicted to hold the highest market share with its offering such as camera based system, radar based system and others.
The ADAS market report published today include market revenue generated through the system type such as Adaptive Cruise Control (ACC), Tire Pressure Monitoring System (TPMS), Drowsiness Monitor System (DMS), Adaptive Front Lights (AFL), and others. The report also includes the analysis of the market on the basis of sensor type such as, Ultrasonic Sensor, Lidar Sensor, Image Sensor, among others.