The rising number of government initiatives globally related to the safety of the vehicles coupled with the rising demand for safe
— Emergen Research
VANCOUVER, BC, CANADA, August 9, 2022 /EINPresswire.com/ — The Global ADAS and Autonomous Driving Components Market is projected to reach USD 118.03 billion in 2027. The continual development in automotive electronics sensors application and technology, the rising concern for safety, increasing demand of automation in automobiles, demand of concept cars from high-income consumers and increasing use of sensors in hybrid semi hybrid and electric cars are boosting the demand of ADAS and autonomous driving components market.
Usage of sensors have been enormous in automotive. Sensors are being used in almost all parts of the vehicle like chassis, engines, clutch, brakes, transmission, control, and safety. Automotive sensors are majorly used in powertrains to monitor speed, position, pressure, gas, and temperature inside the engine. These sensors are required for safe and efficient operations of powertrains. Emission regulations and stringent fuel-efficiency norms formulated by several governments of different countries are propelling the growth of the market in this segment.
Meeting analog information related to temperature and pressure of automobiles for use by their digital control units is critical to meet desired fuel-efficiency and emission regulations. These sensors help vehicle’s engines in burning fuel more efficiently by providing precise data to engines to improve the fuel efficiency according to requirements of the vehicles.
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The report also studies the key companies of the ADAS and Autonomous Driving Components market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
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Robert Bosch, ZF Friedrichshafen, Denso, Continental AG, Valeo, Magna International, Veoneer, Hyundai Mobis, Aptiv, and Analog Devices., among others.
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LiDAR sensor is the most important sensor for an autonomous automotive vehicle. Self-driving or autonomous vehicles being tested by companies such as Uber, Alphabet, Toyota, and others rely heavily on these types of sensors to locate themselves on the detailed maps they need to get around and to identify things like other vehicles and pedestrians.
By the vehicle type, the passenger car segment is expected to retain its pole position in the ADAS and autonomous driving components market owing to the rising demand for safe and high-performance vehicles in the emerging countries.
China is the key country and holds a significant share for the ADAS market in the APAC region. Other countries like South Korea, Japan, and India have also experienced a surge in the installation of automotive sensors and ADAS.
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System Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
Adaptive Cruise Control
Adaptive Front Light
Automatic Emergency Braking
Blind Spot Detection
Cross Traffic Alert
Driver Monitoring System
Forward Collision Warning
Intelligent Park Assistance
Lane Departure Assistance
Night Vision System
Pedestrian Detection System
Road Sign Recognition
Traffic Jam Assist
Others
Vehicle Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
Passenger Vehicle
Mid-sized car
Sedan
Minivan
Convertible
Crossover
Hatchback
Others
Light Commercial Vehicle (LCV)
Compact
Utility Vehicle
Supermini
Light Truck
Others
Heavy Commercial Vehicle (HCV)
Mobile Truck
Limo
Recreational Vehicle
Towing Truck
Fire Trucks
Others
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What are the key trends in the Market?
What are the driving forces behind the ADAS and Autonomous Driving Components market?
What are the obstacles to market growth?
Which are the top vendors in this space?
What are the threats and opportunities in the market for key vendors?
What are the strengths or weaknesses of critical vendors?
What are the future opportunities for the players in the ADAS and Autonomous Driving Components market?
What are the main issues facing the global ADAS and Autonomous Driving Components market?
How does the competitive landscape look?
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Overall, the ADAS and Autonomous Driving Components Market intelligence report deduces accurate market estimations by utilizing the principles of Breakdown and Data Triangulation to assess factors like shift in consumer inclination, existent knowledgebase, market valuation, and verified sources. These aspects might play a crucial role in the potential growth of the worldwide sector.
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The Global ADAS and Autonomous Driving Components Market is projected to reach USD 118.03 billion in 2027
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