Global Automotive ADAS Sensors Market to Post a CAGR of 21% During 2018-2022 | Technavio
LONDON--(BUSINESS WIRE)--May 6, 2018-- market research analysts forecast the to post an impressive CAGR of 21% during the forecast period. The increased installation of convenience and safety-related functionalities in automobiles will lead to the growth of the market. The growing popularity of CMOS image sensors in camera-based ADAS is a key trend, which is expected to impact the growth of the market.
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Technavio has published a new market research report on the global automotive ADAS sensors market from 2018-2022. (Graphic: Business Wire)
In this report, Technavio analysts highlight the progression towards autonomous vehicles as a key factor contributing to the growth of the global automotive ADAS sensors market:
Progression towards autonomous vehicles
ADAS sensors are increasingly being incorporated in vehicles, with the major OEMs and tier-1 players working toward automated driving. Aggressive steps are being taken to achieve level-3 and level-4 vehicle automation standards. These initiatives will drive the market for ADAS sensors, despite high costs involved in incorporating such components in a vehicle.
According to a senior analyst at Technavio for research , “Level-3 automation will relegate all control to the vehicle. The vehicle will control all safety functions but will require the driver’s attention. However, the system will permit comfortable relaxing time for the driver to act. The progressive development towards such advanced functionalities will lead to the use of advanced image, infrared, ultrasonic, radar, and LiDAR sensors during the forecast period.”
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
The Americas and EMEA lead the global automotive ADAS sensors market
This market research report segments the by product (radar sensors, image sensors, ultrasonic sensors, infrared sensors, and LiDAR sensors), and key regions (the Americas, APAC, and EMEA).
The Americas was the leading region for the global automotive ADAS sensors market in 2017, accounting for a market share of 41%, very closely followed by EMEA. Although APAC held the smallest market share of the market, it is expected to witness the maximum growth in its market share over the forecast period.
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