Market Highlights
The driver assistance system market is set to grow at a CAGR of 22.90%
during the forecast period 2016 to 2027. As per the market research report, the
market will hit US$112.69 billion in terms of valuation by the end of 2027. The
market growth will be driven by automated driving and collaborative driving.
Based on the research report, increasing interest towards vehicle automation
will accelerate growth in the market till 2027. Although growing incidences of
software failures will have a negative impact on the global driver assistance
system market’s growth during this period. High installation and maintenance
cost is predicted to be a key challenge which could become a strong threat from
2016 to 2027 to companies. The market report published by expert analysts
includes primary and secondary data and suggests that types, technology, and
regions segments are anticipated to witness tremendous growth till 2027.
Factors such as companies investing in advanced technological innovations will
become key growth drivers during the forecast period and the proliferating
popularity of DAS is also said to be supporting the market globally, however,
the growth projected for the forecast period could be affected by the high cost
associated with products which could negatively affect activities taking place
across the market. Growing concerns related to the cost is another challenge
the market could face till 2027.
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Segmentation:
The driver assistance system market is
segregated into different market segments based on types, technology, and
regions. For a comprehensive analysis of the market, the types, technology, and
regions segments are further split into smaller segments. The types segment is
categorized into adaptive cruise control (ACC), adaptive front lighting,
blind-spot detection (BSD) system, driver drowsiness system, global positioning
system, intelligent park assist system (IPAS), lane departure warning system
(LDWS), night vision, tire pressure monitoring system (TPMS), and others.
Furthermore, based on technology, the global market is also segmented into
ultrasonic sensor, image sensor, radar sensor, others. Based on the market
segmentation analysis, the report covers market forecasts.
The rise in demand for next-generation driving
assistance systems will support the market growth from 2016 to 2027. As per the
market research report, the global market for driver assistance systems is
anticipated to grow at a healthy rate across all the types, technology, and
regions segments. However, the presence of active threats such as supply and
demand gap could hamper the market growth. Business activities across
semiconductors and electronics have also been examined and studied by
semiconductors and electronics industry’s experienced analysts. The driver
assistance system market research report covers findings with predictions and
forecasts till 2027.
Competitive Landscape:
Semiconductors and electronics based
organizations are profiled in the market research report. The driver assistance
system market along with companies and segments has been studied. The analysis
of semiconductors and electronics based business is also done to identify key
challenges and strengths of these companies. The global driver assistance
system market research report covers SWOT analysis, Porter’s Five Force
analysis of major semiconductors and electronics related organizations. The
strategy and other key details of these companies for the forecast period 2016
to 2027 are covered in the report. Automation in industries is anticipated to
support the market growth as the market is set to grow at a CAGR of 22.90% and
reach a value of US$112.69 billion by 2027.
Regional Analysis:
The driver assistance system market, with its product and service
related segments, is spread across the world. Semiconductors and electronics
based regional markets are also covered in the market research report. The
regional markets are Asia-Pacific, Europe, North America, the Middle East and
Africa and the rest of the world. The incorporation of advanced technologies is
anticipated to be a major factor for growth across the semiconductors and
electronics space during the forecast period. The regional market in North
America is classified as the United States, Mexico, Canada, and others. The
semiconductors and electronics sector based regional markets in Europe are
split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific
region, the market is segmented into China, India, Japan, and others.
Semiconductors and electronics based businesses in these regional markets are
anticipated to grow due to advances in various data sources during the forecast
period 2016 to 2027. Although the market’s growth could be affected by the weak
supply chain. The analysts have also segmented markets of the Middle East,
Africa, and the rest of the world.
Industry News
As Think, a software framework that recognises required calibrations of
advanced driver-assistance systems in a written estimation after vehicle
crashes, was purchased by Repairify Inc., the parent company of asTech, in late
February. However, after speaking with asTech and talking about its vision for
the app, Dominato agreed to sell and is now working on the software with
asTech. Dominato urges collision repair shops to make sure their estimators are
familiar with the terminology used by ADAS systems and where each sensor is
mounted. Body shops must make a concerted attempt to become familiar with ADAS.
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