Advance Driver Assistance Systems (ADAS) refer to electronic control systems that aim to automatically assist drivers by detecting surrounding environments and issuing alerts or actively intervening in vehicle control. Vehicles incorporated with ADAS use sensors and cameras to monitor the vehicle's surroundings and automate, adapt, or enhance vehicle systems for safety and better driving experience. The global advance driver assistance system market is witnessing significant growth owing to rising road fatalities and strict emission and safety regulations. Factors, such as increasing consumer demand for safety, development of autonomous vehicles, and government mandates for installation of safety systems, are fueling market expansion.
Market Dynamics:
The growth of the global advance driver assistance system market is driven by stringent government regulations for the incorporation of safety features in vehicles, development of autonomous vehicles, rising demand for comfort, and convenience driving experience and growing incidence of road accidents. However, high development cost of these systems acts as a restraint. The development of 5G technology offers opportunities for ADAS solutions by enabling low latency, high throughput, and large network capacities required for next generation ADAS applications. Increasing focus on over-the-air updates for ADAS is also expected to present a market growth opportunity over the forecast period.
Key Features of the Study:
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