The ASEAN ADAS market was valued at USD 374.25 million in 2017 and is expected to witness a CAGR of 23.73%, during the forecast period 2018-2023.
Parking assist system is one of the prominent ADAS types, which has become a standard feature in most of the new vehicles. It enjoyed the major share, of 23.15%, of the market in 2016. ASEAN NCAP and Bharat NCAP are likely to make advanced/ automatic emergency braking (AEB) system a standard feature in all new vehicles by 2018. Hence, AEB is expected to grow at a higher CAGR of 25.28% during the forecast period.
Due to the increase in regulations on ADAS requirements, like mandatory installation of parking system assistance in all cars in China, India, the United States, and etc., the automakers are making efforts to include these features in most of their cars. The ADAS features, which were only available in premium cars, are now being brought to other car segments as well. These systems are being offered as optional equipment in cars other than the high-end vehicles. These features are being included in commercial vehicles as well
Globally, around 80% of the passenger vehicles and commercial vehicles are featured with ADAS system. The Asia-Pacific is also experiencing similar trends with regards to the penetration of ADAS in the vehicle's market. The reason for customers choosing cars with ADAS is the increased safety and ease of driving these systems offer. Hyundai, the Korean automaker, recently stated that up to 50% of its new sales include some or the other variants of these features. Because of the regulations for cars to have these features and the demand for vehicles with ADAS, the automakers are adopting the ADAS features more rigorously and the market for the automotive ADAS is estimated to grow tremendously.
India, Indonesia, Vietnam, the Philippines have seen an increase in the passenger car sales while Thailand and Malaysia have noticed a decrease during 2015-2016. Tightening hire vehicle loans approval and unfavorable foreign exchange in Malaysia and economic slowdown in Thailand resulted in the downfall of the passenger car sales in 2016.
The ADAS features help in various ways, though the high cost of the equipment remains a restraining factor. Apart from the features mandated by the government regulations, the growth of other features has remained static.
The equipment like rear-view video systems that are mandated by the government has seen a positive growth rate with a decline in prices. The price of rear-view video systems, which were at around USD 800 in 2010, has come down to nearly USD 500 in 2015. The price is expected to decrease further in the coming years. With the increasing government regulations on mandatory ADAS features, an increase in the ADAS market along with the decrease in prices of the individual instruments is expected.
Base Year for Estimation
2018 – 2023
Revenue in USD million and CAGR from 2018 – 2023
Revenue forecast, market share analysis, and market dynamics
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1.1 Scope of the Market
1.2 Executive Summary
2. RESEARCH METHODOLOGY
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Phases
3. MARKET INSIGHTS
3.1 Current Market Scenario
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Buyers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Technology Trends
4. MARKET DYNAMICS
5. MARKET SEGMENTATION AND ANALYSIS (MARKET SIZE, GROWTH, AND FORECAST)
5.1 By Product Type
5.1 Parking Assist System
5.2 Adaptive Front-Lighting
5.3 Night Vision System
5.4 Blind Spot Detection
5.5 Advanced Automatic Emergency Braking System
5.6 Collision Warning
5.7 Driver Drowsiness Alert
5.8 Traffic Sign Recognition
5.9 Lane Departure Warning
5.10 Adaptive Cruise Control
5.11 Electronic Stability Control
6. REGIONAL MARKET ANALYSIS (MARKET SIZE, GROWTH, AND FORECAST)
6.7 Rest of ASEAN
7. COMPETITIVE LANDSCAPE
7.2 Market Share Analysis
8. COMPANY PROFILES (OVERVIEW, FINANCIALS, PRODUCTS AND SERVICES, RECENT DEVELOPMENTS, AND SWOT ANALYSIS)
8.1 Mando Corporation
8.2 Hella KGaA HUECK & Co.
8.3 Autoliv Inc.
8.4 Continental AG
8.6 Delphi Automotive PLC
8.7 Robert Bosch GmbH
8.8 Valeo SA
8.9 Magna International
8.10 Hyundai Mobis
8.11 Denso Corporation
9. FUTURE OF THE MARKET
**Subject to Availability on Public Domain