Global Automotive Advanced Driver Assistance System (ADAS) Market 2020-2024 | Adoption of V2X Technology to Enhance ADAS Performance to Boost Growth | Technavio
The global automotive advanced driver assistance system (ADAS) market is expected to post a CAGR of close to 21% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Rise in traffic congestion and long-distance traveling are some key factors that have led to an increase in the time spent in vehicles. This has led to a demand for the incorporation of safety functions such as ADAS in passenger cars to assist drivers. Developed economies such as the US and the UK are adopting ADAS technologies such as AEBS, TPMS, BSD, LDWS, and ACC as a standard fitment in recent times. The inclusion of ADAS features in vehicles also helps to increase comfort and reduce stress. Thus, the increase in travel time will lead to the incorporation of automotive ADAS in vehicles, thus leading to the growth of the market during the forecast period.
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As per Technavio, the adoption of V2X technology to enhance ADAS performance will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2020-2024.
Global Automotive Advanced Driver Assistance System (ADAS) Market: Adoption of V2X Technology to Enhance ADAS Performance
The automotive industry has been witnessing quick developments in semi-autonomous and autonomous vehicle technologies. For instance, the advent of 5G technology is anticipated to boost the adoption of cellular V2X during the forecast period. Also, prominent vendors are working on integrating V2X communication with ADAS as a part of advanced safety solutions to make modern cars safe and more convenient to drive in remote areas. Furthermore, V2X communication also helps ADAS in detecting objects precisely. Thus, the adoption of V2X will play a significant role in enhancing the performance of ADAS, which will further drive market growth during the forecast period.
"Stringent regulations mandating the adoption of ADAS and development of AI-enabled ADAS solutions are other factors that will boost the automotive ADAS market during the forecast period," says a senior analyst at Technavio.
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Global Automotive Advanced Driver Assistance System (ADAS) Market: Segmentation Analysis
This market report segments the global automotive advanced driver assistance system (ADAS) market by application (passenger cars and commercial vehicles), and technology (AEBS, TPMS, PAS, and others) and geography (APAC, Europe, MEA, North America, and South America)
Europe led the automotive advanced driver assistance system (ADAS) market share in 2019, followed by North America, APAC, South America, and MEA, respectively, due to the demand for vehicular safety in countries such as Germany, France, Italy, Spain, and the UK. However, APAC is anticipated to account for the largest incremental growth during the forecast period as emerging economies, including India, China, and South Korea, are witnessing an increase in the adoption of ADAS by automotive OEMs.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Customer Landscape
Geographical Segmentation
- Geographic comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Vendor classification
- Market positioning of vendors
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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