ADAS Market to Reach $189 Billion By 2026
September 3, 2019—According to a report from Allied Market Research, the global advanced driver assistance systems (ADAS) market was valued at $39.63 billion in 2018 and is estimated to reach $189.14 billion by 2026, registering a CAGR of 21.4 percent from 2019 to 2026.
High demand for safety features, stringent safety rules and regulations, and increased requirement for comfort drive the global ADAS market growth. However, high initial cost, complex structure, and lower efficiency in bad weather conditions restraint the growth of the market.
On the other hand, technological advancements in the advanced driver assistance system and production of the multifunctional system are expected to provide growth opportunities for the market.