The report presents a comprehensive overview of industry trends, growth, share and the competitive landscape in 120 pages.
The most recent research study on the global “Europe Advanced Driver Assistance Systems (ADAS) Market” [2023-2032] by Report Ocean provides a description of the segments and sub-segments. It offers a thorough examination of the sector, analyses historical data, forecasts the future, and aids in understanding the market situation, growth prospects, and difficulties.
The study also includes competitive information and profiles of well-known market competitors, facilitating marketing plans of action and strategic decision-making.
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The Europe ADAS market is expected to reach USD 7.88 Billion by 2023 with a CAGR of 17.2% during 2018-2023.
Advanced Driver Assistance Systems (ADAS) are becoming increasingly popular in Europe due to the increasing government initiatives for mandating driver assistance systems to lower road accidents. ADAS are systems that support, complement or substitute the driver of a vehicle, helping drivers to avoid collisions and accidents. These systems use radar and cameras to provide real-time information about the surroundings, detecting objects and alerting the driver of hazardous conditions or impending danger.
The market is divided into three primary segments based on vehicle, sensor, and component.
Based on vehicle, the market is segmented into passenger and commercial vehicles.
Based on sensors, the market is divided into image, radar, lidar, and other sensors (ultrasonic, infrared, and laser sensors).
Based on components, the market is classified into adaptive cruise control (ACC), parking assistance (PA), lane departure warning (LDW), tire pressure monitoring (TPM), blind spot detection (BSD), autonomous emergency braking (AEB) and others (adaptive front lighting, drowsiness monitor, forward collision warning, head-up display and driver monitoring systems).
The key competitors in the Europe ADAS market are Continental AG, Autoliv Inc., Delphi Technologies, Bosch, BMW AG, and others.
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The key growth factors in the Europe ADAS market include higher adoption of these systems in small cars, rising levels of technological innovation as well as growing initiatives towards vehicle automation and self-drive cars, and adoption of ADAS applications such as ACC, BSD, LDW, and night vision leading to a reduction in the number of accidents. Additionally, there has been mass adoption and rapid penetration of ADAS by the Original Equipment Manufacturers (OEMs) and customers, facilitating the competitiveness of the automotive market.
The growth of the ADAS market is currently hindered by the growing incidence of software failures in sensors coupled with the high cost of these systems that have acted as major restraining factors for the wide acceptability of these systems. In the rapidly growing vehicle automation and ADAS market, the big challenge is to improve system accuracy and performance without hiking the price. Active safety systems and ADAS are largely provided as optional packages in vehicles in Europe which are relatively expensive.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts in the European Union Five (EU5) and the Rest of European Union (EU).
The Europe ADAS market is poised for significant growth in the coming years, driven by increasing demand for driver safety and assistance systems, rising disposable incomes, and a shift towards more advanced vehicles. However, challenges such as software failures and high costs must be addressed to fully realize the potential of these systems.
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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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