Market overview
The advanced driver assistance system market is expected to have a CAGR of 10% for the foreseeable future. More people around the world agree that roads are not safe to drive on. They see (especially policymakers and government officials) advanced driver assistance systems as a way of making these roads safer to drive on.
More people are talking or texting on their phones while driving. They are also driving while distracted. This led to a rise in motor accidents in recent years. Governments have responded by passing laws that require vehicle manufacturers to include safety features in newer cars. These include airbags, collision warning systems, etc…
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Opportunities
Many governments around the world have been attempting to make their streets safer by passing stricter driving rules. Car manufacturers have responded by adding more technologically advanced systems and features to their vehicles. Some of these include multifunctional and advanced driver assistance systems.
What’s really spurring growth in the advanced driver assistance systems market is the fact that more people around the world are interested in driving cars that are equipped with the latest in advanced and safety-equipped advanced driver assistance systems. This is especially true of luxury cars. Hence, car manufacturers are investing heavily in research and development to come up with these new technological advances.
Industry news
General Motors and Delphi Automotive are just two of the many motor companies that are entering the advanced driver assistance systems market and developing new technologies.
Competitive Landscape
Highly competitive, the Driver Assistance System Market appears fragmented with the presence of several notable industry players. These players initiate strategic moves such as mergers & acquisitions, collaboration, innovation, and brand reinforcement to gain a larger competitive share.
List of Key Companies covered in this report
Gentex Corporation (US)Delphi Automotive Plc. (UK)Autoliv Inc. (Sweden)Hitachi Ltd (Japan)Continental AG (Germany)Magna International (Canada)Hella Kgaa Hueck & Co. (Germany)Robert Bosch Gmbh (Germany)Texas Instruments Inc. (US)Renesas Electronics Corporation (Japan)
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