Global Advanced Driver Assistance System MarketAccording to the latest report by IMARC Group, titled “Advanced Driver Assistance Systems Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026”, the global advanced driver assistance systems market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the global advanced driver assistance systems market to grow at a CAGR of around 13% during the forecast period (2021-2026). Advanced driver assistance system (ADAS) is designed to help automate and improve the vehicles for a better and safer driving experience. It is equipped with cameras, sensors, radars and related software. In recent years, ADAS has gained traction as it enhances the security of the occupants, vehicles and pedestrians.
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Market Trends:
Over the years, there has been a significant rise in the number of vehicles on roads, causing traffic congestions and increasing instances of road accidents worldwide. This has led to an escalated demand for ADAS systems to provide safety, efficiency and comfort to the driver. The rapid growth of the automotive industry is also contributing to the market growth. Besides this, regulatory authorities of several countries, such as the National Highway Traffic Safety Administration (NHTSA) in the United States, are imposing stringent regulations to promote the use of automated vehicles and ADAS systems to reduce road fatalities. These initiatives have prompted individuals to opt for improved safety and security features in vehicles, thereby bolstering the market growth.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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