Global ADAS & Autonomous Driving Components Market Outlook for 2023-28
Markntel Advisors has conducted a comprehensive study on the Global ADAS & Autonomous Driving Components Market is expected to grow at a CAGR of around 21% during the forecast period, i.e., 2023-28. Most of the market is likely to be driven by the swiftly improving economic conditions of people & their rising inclination toward connected & autonomous cars for enhanced comfort & convenience, coupled with strict government mandates for automakers to include advanced safety features like ADAS (Advanced Driver Assistance Systems) in their vehicles.
In addition, the Global ADAS & Autonomous Driving Components Market Study highlights the impact of domestic and localized market players, emerging revenue opportunities, strategic market growth analysis, product approvals, product launches, geographic expansions, and technological innovations. The objective of the report is to provide a detailed understanding of the industry, including its features, factors, and elements, along with insights into the regulatory scenario & regional dynamics that may impact market growth.
Key Driver: Stringent Safety Standards & the Mounting Demand for Autonomous Vehicles
Governments of various countries worldwide are mandating the integration of advanced safety features in vehicles, such as LDW (Lane Departure Warning) & AEB (Automatic Emergency Braking), to provide drivers with enhanced safety & comfort and reduce the rising number of road accidents. Several consumers are showing greater interest in autonomous vehicles integrated with advanced technologies like LiDAR, radar sensors, ultrasonic sensors, & HD cameras for data collection that help increase driving accuracy. These ongoing trends in the automotive sector are the major aspects projected to drive the Global ADAS & Autonomous Driving Components Market during 2023-28.
Global ADAS & Autonomous Driving Components Industry Breakdown: Key Revenue Generating Segments
To facilitate focused analysis, the ADAS & Autonomous Driving Components Market has been divided into different segments, providing shareholders with the opportunity to identify their areas of interest and the most profitable opportunities within the market. By incorporating technical trends, comprehensive analysis of the downstream & upstream value chain, as well as Porter’s five forces analysis, we have diligently forecasted the industry landscape for specific regions/countries, presenting critical pointers for informed decision-making. The segments are as follows:
-By Level of Automation
-Level 1 (Advanced Driving Assist Systems)
-Level 2 (Partial Automation)
-Level 3 (Conditional Automation)
-Level 4 (High Automation)
-Level 5 (Full Automation)
-By Vehicle Type
-Light Commercial Vehicle
-Medium Weight Commercial Vehicle
-Heavy Commercial Vehicle
-Ultra Heavy Commercial Vehicle
-By Components Type
-Mechanical Automotive LiDAR
-Solid State Automotive LiDAR
-Electronic Control Unit
-Adaptive Cruise Control (ACC)
-Adaptive Front Light (AFL)
-Automatic Emergency Braking (AEB)
-Blind Spot Detection (BSD)
-Cross Traffic Alert (CTA)
-Driver Monitoring System (DMS)
-Forward Collision Warning (FCW)
-Intelligent Park Assist (IPA)
-Lane Departure Warning (LDW)
-Night Vision System (NVS)
-Pedestrian Detection System (PDS)
-Road Sign Recognition (Rsr)
-Tire Pressure Monitoring System (TPMS)
-Traffic Jam Assist (TJA)
-Middle East & Africa
Each sections offer valuable insights into the ADAS & Autonomous Driving Components Market. The report includes essential pillars of the industry study, such as drivers, restraints, opportunities, and challenges. The report also provides information on industry overview, specifications, definitions, suppliers, R&D status, cost structure analysis, sources, and technological advancements, potential for improvement, applications, among others.
Competitive Analysis of the Global ADAS & Autonomous Driving Components Industry
-Analog Devices Inc.
-Delphi Automotive PLC
-IBEO Automotive Systems GmbH
-Infineon Technologies AG
Global ADAS & Autonomous Driving Components Market Research Report Answers the Following Key Questions
- How big is the Global ADAS & Autonomous Driving Components Market?
- What is the projected growth rate or CAGR of the Global ADAS & Autonomous Driving Components Market during 2022-27?
- What are the key trends or growth opportunities for the key players in the Global ADAS & Autonomous Driving Components Market?
- Which ‘segment’ seems promising for companies operating in the Global ADAS & Autonomous Driving Components Market?
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