ADAS Camera Market: Forecast (2017-2023)
NEW YORK, Nov. 20, 2017 /PRNewswire/ -- Surging demand for Advanced Driver Assistance Systems (ADAS) is primarily driven by stringent regulation norms introduced in various countries and intent to safeguard individuals and to reduce the number of road fatalities. ADAS allow a vehicle to monitor near and far fields in every direction and of evolving and improving sensor fusion algorithms that ensure vehicle, driver, passenger's, and pedestrian's safety based on factors such as traffic, weather and other conditions. Rise in demand for modern automobiles equipped with ADAS and increase in awareness towards safety systems is growing the demand for ADAS camera market.
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ADAS camera market was valued at a revenue of $XXm in 2016 and is estimated to reach $XXm in 2023 with an anticipated growth at a CAGR of XX% during 2017-2023. The increasing awareness regarding driver, passenger, and pedestrian safety has augmented the integration of ADAS particularly in passenger vehicle across the globe.
Moreover, government authorities have mandated the use of certain ADAS technologies, such as tire pressure-monitoring systems, in North America and Europe. Asian countries, such as Japan, China, and India, are also planning to introduce regulations mandating the use of specific ADAS technologies. These factors are likely to proliferate growth of ADAS market in future.
Geographically, North America dominated the ADAS camera market driven by rise in demand of ADAS in modern automobiles, growing influence of New Car Assessment Program in this region. North America was followed by Europe and Asia-Pacific as second and third largest markets for ADAS camera market. Asia-Pacific is projected to have the fastest growth, owing to rapidly increasing automotive purchase, rise in disposable income and increase in safety concerns amongst population in developing countries like China and India in the region.
Sample Companies Profiled in this Report are:
Robert Bosch GmbH (Germany),
Sony Corporation (Japan),
Continental AG (Germany),
Delphi Automotive LLP (U.K.),
Valeo (France)
10+.
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