ROGM – Research On Global Markets, a global market research firm, published a report on the Europe Advanced Driver Assistance Systems (ADAS) market, today. The report, prepared by Netscribes, shows that the ADAS market in Europe is set to expand at a compound annual growth rate (CAGR) 17.7% and be worth USD 7.88 Bn by 2023.
ADAS typically supports, complements, and even substitutes vehicle drivers. These systems aid in avoiding collisions and accidents, and are used in vehicles to provide intelligent and comfortable driving experiences. ADAS use radars and cameras to provide real-time information about the road and its surroundings, and help alert drivers about hazardous conditions or impending danger.
Technological innovation, as well as initiatives undertaken for achieving vehicle automation and self-driven cars, bodes well for the overall growth of the market. Moreover, government regulations regarding driver assistance systems in order to lower road accidents is expected to drive market growth. The Europe ADAS market is expected to grow further, riding on higher adoption of these systems in small cars.
Despite the overall positive outlook on the ADAS market in Europe, increased incidences of software failures in sensors, and the high costs of these systems are major hindrances for their wider acceptability. Also, lack of consumer awareness is a major factor inhibiting the growth of the market.
Key highlights of this report:
• Market drivers and challenges of the Europe ADAS market
• Market trends in the Europe ADAS market
• Historical, current and forecasted market size data for the segment based on:
• Analysis of company profiles of major competitors operating in the market
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for ADAS in Europe, aiding strategy formulations based on the drivers, trends and highlights for each of the segments, and helping brands identify their major competitors and respond accordingly.
For more information, download the Europe ADAS Market report: