Asia Pacific Advanced Driving Assistance Systems Market Overview
The Asia Pacific advanced driving assistance systems market is projected to grow at an annual rate of XXXX%. This growth is driven by rising safety concerns, government initiatives for vehicle safety, and the increasing adoption of luxury cars in the region.
The Asia Pacific ADAS market generated $XXX billion in revenue in 2019. That number is expected to increase to $XXX billion by 2022, and grow at a CAGR of XXX% between 2022 and 2028. This report looks at the market by technology, vehicle type, and geography.
As technology keeps evolving, the car market is seeing more of its share in new technologies. For example, ACC includes automatic braking and changing speeds, which enhances road safety. BSD applies to reducing accidents caused by drivers that can’t see in their blind spot. But thanks to feedback from consumers and drivers alike, BSD is expected to be the fastest-growing technology through 2020.
Asia Pacific is one of the richest markets for ADAS and it is segmented into various market types according to vehicle type. Passenger cars are sub-segmented into different levels, like entry-level cars and mid-size cars, while light commercial vehicles are further broken down into different types, such as light vans and heavy freight trucks.
The Asia Pacific Automotive market that is focused on automotive driver assistance systems is divided into four countries, including China, India, Japan and South Korea. The report profiles the most promising players of this market 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 lot of market forces driving the Asia Pacific advanced driver assistance systems market. For one, the region is home to some of the world’s largest and most populous countries, including China, India, and Japan. That means there’s a large customer base for Advanced Driver Assistance System manufacturers in the area. Additionally, the region is going through rapid economic growth which only helps fuel demand for vehicles with safety features installed. Government initiatives to promote adoption of Advanced Driver Assistant System technology are also contributing to the industry’s growth.
In this report, we said that the Asia Pacific advanced driver assistance systems market will be analyzed on the basis of technology into radar, camera, ultrasonic sensors, and laser sensor. Radar mainly held a significant share of the Asia Pacific advanced driver assistance systems market in 2019. The Asia Pacific advanced driver assistance systems market shares are driven by new automotive safety regulations across key countries such as North America and Europe.
Ultrasonic sensors are typically used for applications that require the detection of objects in such areas as parking assist, lane departure warning, and emergency braking. For applications that need a long-range view, laser sensors are highly accurate at picking up data in wide ranges.
Asia Pacific Advanced Driving Assistance Systems Industry drivers, constraints, and opportunities
Some of the biggest drivers of this industry in the Asia Pacific are increasing safety concerns among consumers and government regulations ensuring vehicle safety. The market also thrives due to technological advancements in sensors and imaging technologies. On the other hand, some of the most significant restraints on this industry are the high cost of ADAS systems and lack of awareness about these systems. Fortunately, there are many opportunities for growth most notably in untapped potential in Asian countries and growing demand for luxury vehicles in this region.
The Asia Pacific advanced driving assistance systems market has been segmented into five major countries: Japan, China, India, South Korea, and Australia & New Zealand. These countries have been further subdivided by type of vehicle and type of sensor. The segments have been analyzed in depth to present a comprehensive market analysis. The report contains detailed profiles of the key players in this field and their business overviews as well as financial information and recent developments. We also include a competitive landscape section which includes market share data for the companies with the most clout in this market.
Some of the major players in this market are Robert Bosch GmbH (Germany), Continental AG (Germany), Delphi Automotive PLC (U.K.), Autoliv Inc. (Sweden) and Valeo S.A.(France).
Competitive Landscape of the Asia Pacific Advanced Driving Assistance Systems Market
Within the Asia Pacific market, driving assistance systems are very competitive. The key players in this market are Robert Bosch GmbH, Continental AG, Delphi Automotive PLC, Autoliv Inc., and Denso Corporation. These players compete based on product innovation and quality as well as price and service.
The Asia-Pacific advanced driving assistance systems market can be divided into adaptive cruise control (ACC), autonomous emergency braking (AEB), lane departure warning (LDW), night vision system (NVS), tire pressure monitoring system (TPMS) and blind spot detection (BSD). The adaptive cruise control segment is expected to grow at the highest CAGR during the forecast period. Adaptive cruise control uses a combination of radar or laser sensors and GPS data to automatically adjust the speed of the vehicle according to traffic conditions ahead. This allows drivers to relax while driving to avoid accidents as they maintain a safe distance from vehicles ahead in stop-and-go traffic situations.
Passenger cars and commercial vehicles need different safety equipment. The passenger cars are expected to grow at a higher CAGR over time because developing countries in this region have a high demand for luxury automobiles with the latest features, such as ADAS. Passenger car manufacturers have come up with multiple versions of ADAS, including driver drowsiness alerts and parking assist.
Asia Pacific Advanced Driving Assistance Systems Market Forecast
The advanced driving assistance systems market in Asia Pacific is expected to grow at a CAGR of XXXX% over the next decade. Many countries are mandating car safety features because of rising concern for driver safety on the roads. Companies need to offer these features or risk losing potential customers to competitors that do.
Along with the rise in the trend of electrified vehicles, it’s also expected to contribute to this market. These electric vehicles have advanced features like autonomous parking and lane keeping, which would be classified as ADAS. The demand for these types of vehicles is expected to increase in the coming years due to the increasing number of emissions laws set by various regions of the globe.
The Asia-Pacific ADAS market is projected to grow by the largest average yearly rate over the next eight years. Countries such as China, Japan, and South Korea are expected to drive growth due to their increasing adoption and production of automobiles.
