This advanced driver assistance system (ADAS) technology is not only tasked with the ensuring pedestrian and vehicle safety but it also enhances the driving experience. As such, it is increasingly becoming an inseparable component of the modern automobiles, which is driving the advanced driver assistance system (ADAS) market. The technology finds rapid adoption among the commercial as well as passenger vehicles as well.
ZF Friedrichshafen AG, Robert Bosch Stiftung Gmbh, DENSO Corporation, Harman International Industries, Delphi Automotive Company, and Aisin Seiki Co., Ltd are few prominent companies in the global advanced driver assistance system (ADAS) market.
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A comprehensive study on the global advanced driver assistance system (ADAS) market has been prepared by Transparency Market Research (TMR), from 2019 to 2027. The market is prophesized to rise at a double-digit growth rate of 13% CAGR.
The Asia Pacific advanced driver assistance system (ADAS) market is likely to experience rapid growth. Much of the growth of the region is attributed to the augmented sales of luxury vehicles together with growing concern about safety amongst the consumers. The demand for safety is gaining considerable traction amongst consumers particularly in countries like Japan, South Korea, and China.
In addition to that, increasing levels of disposable income together with rapid growth in the production of automobiles in China and India are further boosting advanced driver assistance system (ADAS) market in the region. Unavailability of suitable infrastructure in many of the developing countries are restraining the growth of the advanced driver assistance system (ADAS) market are restraining the growth of the regional market.