PORTLAND, Oregon and PUNE, India, February 9, 2018
PORTLAND, Oregon and PUNE, India, February 9, 2018 /PRNewswire/ --
According to a recent report published by Allied Market Research, titled, "Advance Driver Assistance Systems Market by Component Type: Global Opportunity Analysis and Industry Forecast, 2017-2025," the global advance driver assistance systems market was valued at $25,116 million in 2016, and is projected to reach at $143,051 million by 2025, growing at a CAGR of 21.2% from 2017 to 2025.
ADAS applications are majorly adopted in the European region; thus, this region contributes to maximum revenue in the global market, followed by North America, Asia-Pacific, and LAMEA.
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The advance driver assistance systems market is driven by the forthcoming need for comfort, growth in government regulations related to safety, and high focus on consumer safety. However, pricing pressure, inflation, and complexity & difficulty in testing systems hamper the market growth.
In 2016, the system type dominated the component type segment, in terms of revenue. Furthermore, based on system type, adaptive front-lighting system led the global market, followed by lane departure warning system in 2016. However, tire pressure monitoring system segment is expected to witness the highest CAGR throughout the forecast period. Similarly, RADAR sensors led the overall market in 2016, in terms of revenue, followed by image sensor in sensor type segment.
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KEY FINDINGS OF THE STUDY
The key players profiled in the report are Magna International Inc., Autoliv Inc., Continental AG, Robert Bosch GmbH, Valeo, Denso Corporation, NXP Semiconductor, Panasonic Corporation, Renesas Electronics Corporation, and Texas Instruments.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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