According to the report analysis, ‘North America Advanced Driver Assistance Systems (ADAS) Market (2018-2023)’ states that some of the major key players are presently functioning in this market more actively for dominating the handsome amount of share in the short span of time by doing growing demand for these systems includes Continental AG, Autoliv Inc., Delphi Technologies, Denso Corporation, Bosch, Magna International, BMW AG, Ford Motor Company, Aisin Seiko Co., Mobileye and several others. In addition, a vehicle’s ADAS can noted the objects and notify the driver timely of hazardous conditions or impending danger. The North America ADAS market is expected to reach USD 9.20 Billion by 2023 with a CAGR of 17.7% during 2018-2023.
Advanced driver assistance system are very much effective systems which are systematically installed in the car to help the driver in the driving process as many of the accidents occurred due to the human error. Moreover, these system significantly support the driver to avoid collisions and accidents as it is a set of system used in vehicles to facilitate a comfortable and intelligent driving experience. The key player are adopting effective market strategies and policies for doing attractive developments in the technology of these systems. Not only has this, in North America the market of advanced driver assistance systems is categorized into the three primary sectors which are based on the sensor, component and vehicle. Whereas, based on components, the market of these systems is classified into adaptive cruise control (ACC), parking assistance (PA), lane departure warning (LDW), tire pressure monitoring (TPM), blind spot detection (BSD), autonomous emergency braking (AEB) and others (adaptive front lighting, drowsiness monitor, forward collision warning, head-up display and driver monitoring systems). Hence, with the effective classification and applications of these systems it is projected that the market will rise in the near future more increasingly.
On the basis of region, with the effective working of key players the market is segment into the U.S. and Canada. Widespread adoption of these systems in small cars is projected to further boom up the market demand significantly. Increasing levels of technological innovation as well as rising creativities in the favor of vehicle automation and self-drive cars have raised the ultimatum for driver safety and assistance systems over the past decade. For instance, the growth of the ADAS market is presently hampered by the rising incidence of software disappointments in sensors coupled with the high cost of these systems that have acted as major restrictive factors for the extensive acceptability of these systems. While, the market of ADAS in North America is predictable to increase with a growth in demand for automobiles, especially in the U.S. Major manufacturers occur in this region and collective with the obtainable sophisticated technologies they fuel the ADAS market growth. Car sales across the U.S. have expressively augmented implying a positive panorama of growth in the automotive industry. This industry in Canada is closely linked to that of the U.S., because of the North American Free Trade Agreement (NAFTA) and the Automotive Products Trade Agreement (APTA). Therefore, the market in this region is also increasing. Hence, expected that in the forecasted period the market of ADAS will rise more actively over the recent few years in the North America region.
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Ankur Gupta, Head Marketing & Communications