ADAS and Autonomous Driving Components Market Size Worth USD 118.03 Bn by 2027 | CAGR of 21.9%: Emergen Research

ADAS and Autonomous Driving Components Market Size Worth USD 118.03 Bn by 2027 | CAGR of 21.9%: Emergen Research

PR Newswire

Vancouver, B.C., Sept. 16, 2020

Vancouver, B.C., Sept. 16, 2020 /PRNewswire/ -- Market Size – USD 24.05 Billion in 2019, Mark3et Growth - CAGR of 21.9%, Market Trends – Growing automotive industry has proliferated the rising need for safety of the vehicle as well as the passengers, in turn fostering the growth of the Advanced Driver Assistance Systems market.

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Rising number of government initiatives relating to vehicle safety coupled with the rising demand for safe and efficient vehicles are the major factors adding impetus to the growth of ADAS and autonomous driving components market over the forecasted period.

VNCOUVER, B.C., September 16, 2020 - The Global ADAS and Autonomous Driving Components Market is projected to reach USD 118.03 billion in 2027. Rising concern for safety, ongoing development of automotive electronics sensors technology, demand of concept cars from high-income consumers increasing demand of automation in automobiles, and increasing use of sensors in hybrid and semi hybrid and electric cars are boosting the demand of ADAS and autonomous driving components market growth.

Usage of sensors have been enormous in automotive. Sensors are being used in almost all parts of the vehicle like chassis, engines, clutch, brakes, transmission, control, and safety. Automotive sensors are majorly used in powertrains to monitor speed, position, pressure, gas, and temperature inside the engine. These sensors are required for safe and efficient operations of powertrains. Emission regulations and stringent fuel-efficiency norms formulated by several governments of different countries are propelling the growth of the market in this segment. Meeting analog information related to temperature and pressure of automobiles for use by their digital control units is critical to meet desired fuel-efficiency and emission regulations. These sensors help vehicle's engines in burning fuel more efficiently by providing precise data to engines to improve the fuel efficiency according to requirements of the vehicles.

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Further key findings from the report suggest

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For the purpose of this report, Emergen Research has segmented the global ADAS and Autonomous Driving Components Market on the basis of System, Vehicle Type, Propulsion, Type, and region:

System Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)

Vehicle Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)

Propulsion Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)

Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)

Regional Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)

 

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