Market Overview
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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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.
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Market 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.
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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Regional Overview
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.