Asia Pacific Advanced Driving Assistance Systems Market: Drivers, Restraints and Opportunities – 6Wresearch
Asia Pacific Advanced Driving Assistance Systems Market Overview
The Asia Pacific advanced driving assistance systems market is forecast to grow at a CAGR of XXXX% during the period 2022-2028. The market is driven by the rising concerns over road safety, government initiatives for vehicle safety, and the increasing adoption of luxury cars in the region.
According to the report, the Asia Pacific ADAS market was valued at USD XXXX billion in 2019 and is expected to reach USD XXXX billion by 2022, growing at a CAGR of XXXX% between 2022 and 2028. The market is segmented on the basis of technology, vehicle type, and geography.
By technology, the market is classified into adaptive cruise control (ACC), blind spot detection (BSD), lane departure warning (LDW), night vision system (NVS), park assist (PA), and tire pressure monitoring system (TPMS). Of these, ACC held the largest share in 2015 as it provides features such as automatic braking and speed control, which enhances road safety. However, BSD is projected to be the fastest-growing technology during the forecast period owing to its ability to reduce accidents caused by blind spots.
On the basis of vehicle type, the Asia Pacific ADAS market is segmented into passenger cars and commercial vehicles. Passenger cars are further sub-segmented into entry-level cars, mid-size cars, premium cars, and luxury cars. Commercial vehicles are further sub-segmented into light commercial vehicles, medium duty trucks, and heavy duty trucks.
The Asia Pacific ADAS market is further segmented into four major countries that include China, India, Japan, and South Korea. The report profiles key players such as Autoliv Inc., Continental AG, Delphi Automotive PLC, Robert Bosch GmbH, and Valeo S.A.
Asia Pacific Advanced Driving Assistance Systems Market Forces
There are a number of market forces at play in the Asia Pacific advanced driving assistance systems market. Firstly, the region is home to some of the world’s largest and most populous countries, including China, India, and Japan. This provides a large potential customer base for advanced driving assistance system manufacturers. Secondly, the Asia Pacific region is experiencing rapid economic growth, which is boosting demand for vehicles equipped with advanced safety features. Additionally, government initiatives to promote the adoption of advanced driver assistance systems are also supporting market growth.
The Asia Pacific advanced driver assistance systems market is analyzed on the basis of technology into radar, camera, ultrasonic sensors, and laser sensor. The radar segment held a significant share of the Asia Pacific advanced driver assistance systems market in 2019. Radar-based sensing technologies are widely used for adaptive cruise control and night vision applications. Additionally, these technologies are used for lane keeping assistance and automated emergency breaking systems. Cameras are also extensively used for various applications such as blind spot detection, sleep monitor, cross-traffic alert, automatic high beam headlights, and fatigue detection. The use of cameras has increased due to continuously decreasing prices of image sensors and increasing functionality of algorithms that can process camera images efficiently to extract useful information such as distance from obstacles.
Ultrasonic sensors are primarily used for applications such as automated emergency breaking system (AEBS), parking assist, lane departure warning (LDW), and adaptive cruise control (ACC). Laser sensors provide highly accurate data related to objects within their range of view which makes them suitable for applications such as adaptive cruise control (ACC) however their high cost limits their use for other applications.
Drivers, Restraints and Opportunities of the Asia Pacific Advanced Driving Assistance Systems Industry
In the Asia Pacific advanced driving assistance systems market, the major drivers are the increasing vehicle safety concerns and the stringent government regulations regarding vehicle safety. The market is also driven by the technological advancements in sensors and imaging technologies. The major restraints in the market are the high cost of these systems and the lack of awareness among consumers. The opportunities in the market lie in the untapped potential of the Asian countries and the growing demand for luxury vehicles in this region.
The Asia Pacific advanced driving assistance systems market has been segmented into five major countries, namely Japan, China, India, South Korea and Australia & New Zealand. These countries have been further sub-divided by type of vehicle, type of sensor and the various applications of advanced driving assistance systems. The segments have been analyzed in detail to present a comprehensive market analysis. The report contains detailed profiles of the key players in the market along with their business overview, financial overview and recent developments. The competitive landscape section includes the market share analysis and company profiles of the major players operating in this market.
Some of the major players operating in this market are Robert Bosch GmbH (Germany), Continental AG (Germany), Delphi Automotive PLC (U.K.), Autoliv Inc. (Sweden), Denso Corporation (Japan) and Valeo S.A.(France).
Competitive Landscape of the Asia Pacific Advanced Driving Assistance Systems Market
The Asia Pacific advanced driving assistance systems market is highly competitive with a large number of players. The key players in the market are Robert Bosch GmbH, Continental AG, Delphi Automotive PLC, Autoliv Inc., and Denso Corporation. These players are competing on the basis of product innovation, price, quality, and service.
The Asia Pacific advanced driver assistance systems industry is segmented on the basis of technology, vehicle and type.
The Asia Pacific advanced driving assistance systems industry has been segmented based on technology, vehicle type, sales channel and country.
By technology, the Asia Pacific advanced driving assistance systems market is segmented into adaptive cruise control (ACC), autonomous emergency braking (AEB), lane departure warning (LDW), night vision system (NVS), tire pressure monitoring system (TPMS), blind spot detection (BSD) and others. The adaptive cruise control is expected to grow at the highest CAGR over the forecast period. Adaptive cruise control utilizes a combination of radar or laser sensors and GPS data to automatically adjust speed of the vehicle according to traffic conditions ahead. This allows drivers to relax while driving as they need not worry about maintaining safe distance from vehicles ahead of them in stop-and-go traffic situations.
By vehicle type, the market has been segmented into passenger cars and commercial vehicles. The passenger cars are expected to grow at a higher CAGR over the forecast period due to high demand for luxury cars in this region that are equipped with latest features including ADAS. Passenger car manufacturers have come up with multiple variants of ADAS including driver drowsiness alert, park assist
Asia Pacific Advanced Driving Assistance Systems Market Forecast
The Asia Pacific advanced driving assistance systems (ADAS) market is expected to reach USD XXXX billion by 2028. The market is anticipated to witness a CAGR of XXXX% over the forecast period. Increasing awareness regarding road safety and government regulations mandating the deployment of ADAS features in vehicles are projected to fuel the demand for these systems.
In addition, the rising trend of vehicle electrification is also expected to contribute to market growth. Electric vehicles are equipped with advanced features such as autonomous parking and lane keeping assist, which are classified under ADAS. The demand for electric vehicles is expected to increase in the coming years owing to the stringent emission norms set by various regional governments across the globe.
The Asia Pacific ADAS market is projected to grow at the highest CAGR during the forecast period owing to increasing adoption of these systems in countries such as China, Japan, and South Korea. Moreover, growing automobile production in this region is also expected to propel market growth over the next eight years.
