Report: Strong 2018-2028 Growth Predicted for ADAS Market
August 6, 2018—The penetration rate of Advanced Driver Assistance Systems (ADAS) is expected to grow strongly over the next decade, driven mainly by government regulations and increasing consumer awareness. Europe and U.S. NCAP mandates that all new cars must be equipped with Autonomous Emergency Breaking (AEB) and Forward Collision Warning (FCW) systems.
However, over the longer term horizon, ADAS systems are part of the technological 'roadmap' and stepping stone towards the eventual end goal of semi-autonomous and fully autonomous vehicle. This is a major focus of automotive industry R&D at the moment for both OEMs and tech companies that have recently penetrated the automotive sector.
Many semiconductor companies, which have previously not participated in the automotive industry, now develop or have started offering ADAS applications or sensors. Like with any new technology, a considerable amount of market uncertainty remains, especially how end-users will respond to the advanced computer controls/assistance with steering and reaction to critical situations.
Nonetheless, ADAS applications have entered the growth phase in 2018, OEM's and their suppliers understand that ADAS features can also become the main differentiating factor among automotive companies.
The world market for ADAS will record revenues of $38.4 billion in 2018.