Advanced Driver Assistance Systems Market to reach $50 billion US by 2020

Advanced Driver Assistance Systems Market to reach $50 billion US by 2020

According to a global market report published by Transparency Market Research "Advanced Driver Assistance Systems (ADAS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2020," the global advanced driver assistance systems (ADAS) market was valued at USD $14.8 billion in 2013, and will grow with a Compound Annual Growth Rate (CAGR) of 19.2% from 2014 to 2020 and end up over USD $50 billion by 2020.

Year    Billions
2014    $17.64
2015    $21.03
2016    $25.07
2017    $29.88
2018    $35.62
2019    $42.45
2020    $50.61

One of key factors driving the ADAS market is the increasing emphasis on safety and the adoption of safety measures. North America, Europe and many large Asian countries such as India, China and Japan are mandating new safety regulations that are making Advanced Driver Assistance Systems increasing likely to be mandatory for all new 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.

Adaptive cruise control segment was the largest segment and accounted for 18.15% of the global market in 2013. The tire 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 during the forecast period.

North America held the largest market share in 2013. This was attributed to stringent safety & environmental regulation and buying patterns 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.

See this page for the full list of companies involved in the Advanced Driver Assistance Systems market. 

The full Advance Driver Assistance System Market Report is available at http://www.transparencymarketresearch.com/advanced-driver-assistance-market.html