The latest research report on the ‘North America Advanced Driver Assistance Systems (ADAS) Market’ provides valuable insights into the market’s growth opportunities and trends until 2032. The report thoroughly analyzes the driving factors and restraints of the market, utilizing both qualitative and quantitative methodologies. It offers a comprehensive overview of the market landscape, enabling businesses to make informed decisions about their growth strategies and potential areas of expansion. The report also provides a detailed analysis of the market by application and type, providing reliable information for readers and users. This report is useful for businesses of all sizes in defining their commerce strategies, presenting statistical data in a simplified manner.
The key competitors in the North America ADAS market include Continental AG, Autoliv Inc., Delphi Technologies, Denso Corporation, Bosch, Mobileye, and others.
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The North America ADAS market is expected to grow rapidly over the next few years, with a forecasted CAGR of 17.7% from 2018 to 2023.
ADAS, or advanced driver assistance systems, are designed to support, complement, or replace a driver in a vehicle, providing real-time information about the vehicle’s surroundings through the use of radar and cameras. The market is segmented into three primary segments based on vehicle, sensor, and component, with passenger and commercial vehicles, image, radar, lidar, and other sensors, and adaptive cruise control, parking assistance, lane departure warning, tire pressure monitoring, blind spot detection, autonomous emergency braking, and other components.
One of the key drivers of the North America ADAS market is the increasing government initiatives for mandating driver assistance systems to reduce road accidents. The adoption of ADAS applications, such as adaptive cruise control, blind spot detection, lane departure warning, and night vision, is leading to a reduction in the number of accidents. Car sales across the US have significantly increased, implying a positive prospect of growth in the automotive industry. The market in Canada is also growing, closely linked to that of the US due to the North American Free Trade Agreement and the Automotive Products Trade Agreement.
However, the growth of the ADAS market is currently hindered by the high cost of these systems and the growing incidence of software failures in sensors. Many of the most promising ADAS applications are still being refined or have not yet hit the market, while others are expensive and mostly available in premium cars. Lack of consumer awareness is also inhibiting demand, although this is likely to change as consumers become more familiar with ADAS and begin to prefer cars with these features.
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The study objectives of this report are:
- To study and analyze the global market size (value & volume) by company, key regions/countries, products and application, history data, and forecast to 2032.
- To understand the structure of market by identifying its various subsegments.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- Focuses on the key global manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the growth trends, future prospects, and their contribution to the total market.
- To project the value and volume of submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.
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