The advanced driver assistance system (ADAS) testing equipment market is projected to attain a valuation of US$ 56.4 billion in 2023 and is expected to accumulate over US$ 202.7 billion by 2033, trailing a CAGR of 13.6% from 2023 to 2033.
The integration of advanced driver assistance systems (ADAS) in passenger cars, driven by the growing awareness of safety and comfort, has fuelled market growth. Government mandates in countries like the United States, Japan, China, and Germany, emphasizing the implementation of ADAS for passenger safety, have further propelled market expansion.
Notably, India has set a target to incorporate autonomous emergency braking (AEB) and electronic stability control (ESC) in cars between 2022 and 2023 to mitigate the risk of accidents.
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Rapid urbanisation, improved living standards, and rising per-capita income are the main factors driving the adoption of cars. The high inclusion of sophisticated driver assistance technologies is a result of this. The market for advanced driver assistance systems is also expanding as a result of the rising demand for luxury vehicles in developed countries, with major manufacturers like Volkswagen, Audi AG, and Mercedes Benz playing a prominent role.
Growing safety awareness and an increase in accidents are what drive the ADAS market. Due to developments in automotive technology, there is a great need for sophisticated systems like emergency braking, night vision, and road sign recognition. A crucial factor in the market’s growth is the rising acceptability of autonomous or self-driving automobiles.
Market players have increased their investments in autonomous vehicle technology as a result of the huge potential opportunities that vehicle electrification is bringing for the industry of vehicle automation. In order for a vehicle to be automated, advanced driver assistance systems (ADAS) must be integrated. Companies strive to reach a near-precise level of vehicle automation by integrating different ADAS sensors including Radar, LIDAR, and cameras.
Intelligent driver assistance systems use cutting-edge technology and artificial intelligence to assist drivers, lessening their effort and eliminating distractions. Additionally, technological improvements in areas like software algorithms, mapping, CPUs, cameras, and sensors have made it possible to integrate these systems into a variety of vehicles.
To decrease fatalities and injuries from accidents, vehicle manufacturers are progressively integrating driver-aid technologies. The need for ADAS is anticipated to increase as the automobile industry continues to create highly effective and safe technologies.
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Key Takeaways:
- The United States advanced driver assistance system (ADAS) testing equipment industry is projected to expand with a CAGR of 12.8% during the forecast period.
- The demand for advanced driver assistance system (ADAS) testing equipment in China is anticipated to increase at a promising CAGR of 13.3% from 2023 to 2033.
- By product type, the hardware segment is projected to secure a CAGR of 14.4% in the forthcoming years.
- The United Kingdom is expected to secure an impressive CAGR of 10.2% throughout the forecast period.
Advancements in the automotive sector and the introduction of highly efficient and safe features in vehicles are expected to drive market growth during the forecast period, anticipates FMI Analyst.
Competitive Landscape
The market for advanced driver assistance system (ADAS) testing equipment is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.
The key industry players are Konrad GmbH, AB Dynamics plc, National Instruments Corporation, TKH Group NV, Oxford Technical Solutions Ltd., and Racelogic Ltd.
Key Segments Profiled in the Two-wheeler Aftermarket Components & Consumables Market
By Two-Wheeler Type:
- Standard Motorcycle
- Cruiser Motorcycle
- Sports Motorcycle
- Standard Scooter
- Maxi Scooter
- Mopeds
By Product Type:
- Components
- Fuel Injector
- Fuel Filter
- Air Filter
- Brake Pads
- Brake Shoes
- Brake Caliper
- Accelerator & Brake Cable
- Electric Starter Motor
- Clutch Plate
- Chain & Sprocket
- Battery
- Headlight Bulb
- Turn Indicator Bulb
- Spark Plugs
- Ignition Coil
- Shock Absorber
- Seat
- Exhaust Muffler
- Mirror
- Tires
- Consumables
- Washing Shampoo
- Cleaning Polish
- Coolant
- Engine Oil
By Sales Channel:
- Authorized Dealers
- Independent Dealers
- Online
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
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Recent Developments in the Advanced Driver Assistance System (ADAS) Testing Equipment Market
- Robert Bosch collaborated with Hycan Automobile Technology in 2021 to develop automated valet parking technology. This technology is expected to be integrated into the Hycan Z03 vehicle.
- In March 2021, AB Dynamics, a provider of testing systems and measurement products, completed its acquisition of Vadotech Group, which includes Vadotech and Zynit. This acquisition enables AB Dynamics to achieve strategic goals, including expanding its presence in China market and strengthening its position as a global technical service provider in the automotive industry.
- Continental AG and Beijing Horizon Robotics Technology R&D Co., Ltd. announced a Joint Venture (JV) contract in September 2021. The JV aims to offer integrated solutions for advanced driver assistance systems and autonomous driving, encompassing both software and hardware components.
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