ROGM – Research On Global Markets, a global market research firm, published a report on the North America Advanced Driver Assistance Systems (ADAS) market, today. The report, compiled by Netscribes, shows that the North America ADAS market is expected to expand at a significant compounded annual growth rate (CAGR) of 17.7% during 2018-2023 and reach a market size of USD 9.20 Bn.
ADAS typically supports, complements, and sometimes 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 radar and cameras to provide real-time information about the road and its surroundings and helps alert the driver about hazardous conditions or impending danger.
Technological innovation, as well as initiatives undertaken to achieve 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 proliferate market growth. The ADAS market in North America is expected to grow further on the back of higher adoption of these systems in small cars.
Despite the overall positive outlook on the ADAS market in North America, 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 that is inhibiting the growth of the market.
Key highlights of this report:
• Market drivers and challenges of the North America ADAS market
• Market trends in the North America 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 North America, 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 North America ADAS Market report: