The global Advanced Driver Assistance System (ADAS) Testing Equipment Market was worth US$ 222 Mn in the year 2021 and is expected witness double-digit CAGR 12.10% between 2021 and 2031.
The market for Advanced Driver Assistance System (ADAS) testing equipment is anticipated to rise in the near future due to rising demand for various safety measures and an increase in the desire for comfort while driving. Drivers who use ADAS are given potential risk alerts and assistance in preventing collisions. In its newest industry analysis, “Advanced Driver Assistance System (ADAS) Testing Equipment Market,” Future Market Insights has talked through these facts with future perspectives.
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Key Takeaways from Advanced Driver Assistance System (ADAS) Testing Equipment Market
- North America holds more than 30% of the market share. This could be attributed to adoption of ADAS testing equipment at a larger scale.
- The Asia-Pacific is expected to grow at the fastest rate in the Advanced Driver Assistance System (ADAS) testing Equipment market. This could be credited to initiatives by governments like implementing emergency brake systems as well as adaptive cruise control systems for encouraging the key participants to account for a better percentage. China is subject to welcoming autonomous vehicles inclusive of robotaxis, truck fleets, and luxury passenger vehicles. As far as India is concerned, the annual SIAM (Society of Indian Automotive Manufacturers) convention, the Indian government has actually expressed concerns regarding on-road mishaps and road safety.
- The Europe is led by the UK as the governments have shown intention toward incorporating ALKS (Automated Lane Keeping Systems) as a part of the regulations for reducing road deaths.
Competitive Landscape
- Konrad Technologies, in May 2021, entered into a collaboration with LHP Engineering Solutions for delivering their new ADAS Solution (a workflow management system abreast with test automation complying with ADAS functional safety standards).
- AB Dynamics, in March 2021, acquired Zynit and Vadotech (now known as Vadotech Group), thereby enabling the foothold in the market of China.
- Robert Bosch (China) Investment Ltd., in 2021, tabled an automated valet parking through Hycan Automobile Technology. As such, Hycan Z03 would be incorporating this technology. The driver, on activating automated valet parking function on smartphone, would see the vehicle drive to parking lot on an automated basis and park at the destination by precisely identifying direction. This type of automated valet parking technology falls in the category of Level-4 autonomous driving.
- ZF, in 2021, tabled the next-generation mid-range radar for supporting advanced ADAS functions and enhancing existing ZF coASSIST semi-automated system on Dongfeng Aeolus Yixuan MAX. This radar comes across as one of the high-performance 77 GHz front radar designed for meeting 2022+ Euro NCAP 5-Star Safety Ratings and facilitate semi-automated driving functions.
- Veoneer, in February 2020, was selected for supplying active safety systems on the basis of next-gen radar systems. This scalable system is being developed for meeting Euro NCAP 5-star safety rating and also make way for numerous driver assistance features like highway assist, stop and go adaptive cruise control, lane centering control, traffic sign recognition, automatic emergency braking, and automated high beam control.
- Toyota Motor Corp., in 2021, selected Mobileye and ZF for developing ADAS to address multiple vehicle platforms till the year 2026. ZF supplies Gen21 mid-range radar and holds the responsibility of integrating radar and camera in Toyota vehicles.
- Continental AG, in September 2021, entered into joint venture with Beijing Horizon Robotics Technology R&D Co., Ltd. for providing hardware and software integrated solutions for ADAS and autonomous driving.
- Infineon Technologies AG, in January 2018, partnered with Baidu for Apollo Program of the self-driving vehicle development.
“Compact passenger cars are expected to keep the cash registers ringing in the near future”, says an analyst from Future Market Insights.
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How does the Report assist?
- The research study is based on product (software and hardware), and by end-user type (automotive OEMs, Tier-1 suppliers, and labs and other institutes).
- With Advanced Driver Assistance System (ADAS) being increasingly adopted in the modern passenger vehicles, the global Advanced Driver Assistance System (ADAS) testing equipment is expected to witness an exponentiation in the forecast period.
Key Segments
By Product:
- Hardware
- Software
By End-User Type:
- Automotive OEMs
- Tier-1 Suppliers
- Labs and Other Institutes
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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