Albany, New York (PRWEB) August 28, 2014
According to a new market report published by Transparency Market Research "Advanced Driver Assistance Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2020," the global advance driver assistance system market was valued at USD 14.80 billion in 2013, growing at a CAGR of 19.2% from 2014 to 2020 to account for USD 50.48 billion in 2020.
The automotive segment is one of the attractive sectors currently, with significant expected growth in the near future. One of key factors driving the ADAS market is the increasing emphasis on safety and the adoption of safety measures. U.S., Europe and many other countries such as India, and China are mapping safety regulations mandatory for all cars. Another important factor contributing the growth of this market is the increasing demand for comfort driving by using latest technology. ADAS technologies support everyday driving tasks by improving comfort and reducing demands on the driver which helps in enhancing luxury and comfort and on the other side it is also very useful for safety purpose.
Browse the full Advance Driver Assistance System Market Report: http://www.transparencymarketresearch.com/advanced-driver-assistance-market.html.
Adaptive cruise control segment was the largest segment and accounted for 18.15% of the global market in 2013. Tyre pressure monitoring system is expected to grow faster than that of other segments, growing at a CAGR of 21.1% from 2014 to 2020. Moreover, high level of economic activities and mandatory legislations across the globe is expected to spur the growth of the market in the forecast period.
North America held the largest market share in 2013. This was attributed to stringent safety & environmental regulation and buying pattern of the people of North America. Consumers in this region are more inclined toward the automobiles with advanced comfort systems and features that support the health and safety regulations imposed by the government of North America. Asia Pacific is expected to be the fastest growing region, with an expected CAGR of 20.5% from 2014 to 2020. Growing vehicle demand, improving lifestyle, and changing buyer's preferences are the major factors driving the ADAS market in Asia Pacific.
The report provides company market share analysis of the various industry participants. Key players have also been profiled on the basis of company overview, financial overview, business strategies, SWOT analysis, and recent developments in the field of advance driver assistance system. Major market participants profiled in this report include Continental AG, Denso Corporation, Magna International, Valeo, Robert Bosch, BMW, Audi, General Motors, Ford Motor Company among others.
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This report analyzes the global "Advanced Driver Assistance System" market in terms of revenue (USD billion). The market has been segmented as follows:
Advanced Driver Assistance System Market: By type
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Advanced Driver Assistance System Market: By technology
Advanced Driver Assistance System Market: By geography
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