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The ADAS and autonomous driving components market is on the rise, driven by the increasing trend of connected vehicles and the need for advanced safety features

VANCOUER, BC, CANADA, May 2, 2023 /EINPresswire.com/ -- The Global ADAS and Autonomous Driving Components Market is projected to reach USD 118.03 billion in 2027. The continual development in automotive electronics sensors application and technology, the rising concern for safety, increasing demand of automation in automobiles, demand of concept cars from high-income consumers and increasing use of sensors in hybrid semi hybrid and electric cars are boosting the demand of ADAS and autonomous driving components market.Usage of sensors have been enormous in automotive. Sensors are being used in almost all parts of the vehicle like chassis, engines, clutch, brakes, transmission, control, and safety. Automotive sensors are majorly used in powertrains to monitor speed, position, pressure, gas, and temperature inside the engine. These sensors are required for safe and efficient operations of powertrains.

Advanced Driver Assistance Systems (ADAS) and Autonomous Driving Components have become a buzzword in the automotive industry in recent years. ADAS systems and components are designed to enhance the safety of drivers, passengers, and other road users. The autonomous driving components, on the other hand, aim to completely eliminate the need for a human driver. This technology is poised to revolutionize the transportation industry and is expected to witness significant growth in the coming years.

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The ADAS and Autonomous Driving Components market is driven by several factors. Firstly, the increasing demand for safety features in vehicles is driving the growth of this market. ADAS features like lane departure warning, adaptive cruise control, and forward collision warning have become standard in many new vehicles. Secondly, the growing trend of connected vehicles is fueling the growth of this market. Connected vehicles are equipped with sensors that collect data and transmit it to other vehicles and infrastructure, which can be used to improve safety and traffic flow. Thirdly, the need for fuel-efficient vehicles is driving the growth of this market. ADAS and autonomous driving components can optimize vehicle performance, leading to improved fuel efficiency.

ADAS and Autonomous Driving Components Market Overview :

ADAS and Autonomous Driving Components Market Size – USD 24.05 Billion in 2019, Market Growth - CAGR of 21.9%, Market Trends – Growing automotive industry has proliferated the rising need for safety of the vehicle as well as the passengers, thus in turn foserting the growth of the Advanced Driver Assistance Systems market.

Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

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The ADAS and Autonomous Driving Components Market report takes a closer view of the global ADAS and Autonomous Driving Components Market share, estimated growth rate, future market trends, entry-level barriers, fundamental market drivers, restraints, challenges, and opportunities. The report clearly defines ADAS and Autonomous Driving Components Market position on a global level. The detailed insights into the market’s geographical spectrum offered by the report make it an excellent source of knowledge about the ADAS and Autonomous Driving Components Market .

Key participants include :

Robert Bosch, ZF Friedrichshafen, Denso, Continental AG, Valeo, Magna International, Veoneer, Hyundai Mobis, Aptiv, and Analog Devices., among others.

Scope of the Global ADAS and Autonomous Driving Components Market Report :

The report performs an accurate estimation of the growth prospects of the different market segments by studying the current market scenario, past performance, demand and supply ratio, production, consumption, sales, and revenue generation of the key players in the upcoming years. The market segmentation provides a 360° view of the ADAS and Autonomous Driving Components Market industry, which turns out to be beneficial for readers interested in this sector.

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Emergen Research has segmented the global ADAS and Autonomous Driving Components Market Are as :

For the purpose of this report, Emergen Research has segmented into the global ADAS and Autonomous Driving Components Market on the basis of System, Vehicle Type, Propulsion, Type, and region:

System Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
Adaptive Cruise Control
Adaptive Front Light
Automatic Emergency Braking
Blind Spot Detection
Cross Traffic Alert
Driver Monitoring System
Forward Collision Warning
Intelligent Park Assistance
Lane Departure Assistance
Night Vision System
Pedestrian Detection System
Road Sign Recognition
Traffic Jam Assist
Others

Vehicle Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
Passenger Vehicle
Mid-sized car
Sedan
Minivan
Convertible
Crossover
Hatchback
Others
Light Commercial Vehicle (LCV)
Compact
Utility Vehicle
Supermini
Light Truck
Others

Regional Overview:

The global ADAS and Autonomous Driving Components Market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global ADAS and Autonomous Driving Components Market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements

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This Research provides answers to the following important questions:

What is the expected growth rate of the ADAS and Autonomous Driving Components Market ?

What is the market size for the forecast period from 2022 to 2027 ?

What are the market trends for ADAS and Autonomous Driving Components Market that business owners can trust in the next few years?

What are the threats and challenges that are expected to limit the progress of ADAS and Autonomous Driving Components Market industry in different countries?

What are the main drivers of changing the course of the industry?

Who are the major vendors dominating the ADAS and Autonomous Driving Components Market industry in different regions? What are their winning strategies to stay ahead of the competition?

What are the main opportunities available to employers during the forecast period from 2022 to 2027 ?

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