7newswire Advanced Driver Assistance System (ADAS) market size is expected to reach USD 66.14 Billion at a steady CAGR of 11.8% in 2028, according to latest analysis by Emergen Research. Advanced driver assistance system market revenue growth is driven by rise in demand for safety features in vehicles, implementation of stringent safety regulations, and technological advancements in advanced driver assistance systems.
ADAS offers various benefits such as decrease in rate of accidents and reduced damage to property and injury or loss of life. These systems offer more effective safety features designed to improve passengers and pedestrian safety and minimizing accidents and impact severity. Advanced driver assistance systems offer safety features such as collision avoidance system, parking assistance, tire pressure monitoring, traction control, lane departure warnings, electronic stability control, and telematics. Surge in global road accident rates has been resulting in an increase in vehicle and passenger safety technologies and systems. Some features include ability to recognize and classify different objects on the road, alert driver regarding road conditions and terrain, as well as decelerate or completely halt the vehicle.
The report takes a closer look at the historical and current market scenarios to accurately predict the global Advanced Driver Assistance System (ADAS) market outlook over the forecast duration (2021-2028). Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market. The study involves the use of efficient analytical tools like SWOT analysis and Porter’s Five Forces to inspect the strengths, weaknesses, opportunities, and threats associated with the growth of the various market segments. The report provides crucial details, such as the market shares of the key players, which help the reader attain a comprehensive outlook of the Advanced Driver Assistance System (ADAS) market.
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Competitive Outlook:
The global Advanced Driver Assistance System (ADAS) market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Advanced Driver Assistance System (ADAS) market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Some of the key participants in this industry include:
Emergen Research has segmented the global advanced driver assistance system market on the basis of offering, component, system, vehicle type, and region:
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Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
Valuable Market Insights:
Questions addressed in the report:
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