Automotive ADAS Market in China 2017-2021
About Automotive ADAS
An advanced driver assistance system (ADAS) helps the driver avoid potential collisions by controlling the vehicle when the user is unable to respond in time. All safety features alert the driver of imminent collisions and prompt him/her to take control of the vehicle. It assists the driver by automating or enhancing vehicle systems to ensure safety and offer a better driving experience. Automotive vehicle production values in China are considered for market sizing. The forecast is based on the trends, drivers, and challenges faced by the Chinese automotive industry.
Technavio’s analysts forecast the automotive ADAS market in China to grow at a CAGR of 34.63% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the automotive ADAS market in Chinat for 2017-2021. To calculate the market size, the report considers the number of vehicles that has one or more ADAS features embedded in to it. The technology based segmentation represents the penetration of each ADAS feature out of the total number of ADAS vehicles in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Automotive ADAS Market in China 2017-2021
Technavio recognizes the following companies as the key players in the automotive ADAS market in China: Bosch, Continental, Delphi Automotive, DENSO, Mobileye, and Valeo
Other Prominent Vendors in the market are: Aisin Seiki, Autoliv, Calsonic Kansei, Hyundai Mobis, Magna, Panasonic, Visteon, and ZF Friedrichshafen AG
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Advanced camera technology to grow faster than other sensors. Modern vehicles are considered as computers on wheels as they are packed with sensors, chips, codes, and cameras, all of which control the automobile. OEMs still use traditional rear-view mirrors, which reduce the aerodynamic performance of the vehicle. NHTSA was requested by the American Automobile Association (AAA) to change the 1968 rule that mandated the use of side and rear-view mirrors in passenger cars and replace them with side-view and rear-view cameras. Rear view mirrors help users track vehicles, but cameras give a more detailed and wider field of vision.”
According to the report, one of the major drivers for this market is Made in China 2025 plan. In 2015, the Made in China 2025 plan was compiled by MIIT. A total of 150 experts from the China Academy of Engineering worked with three other ministries for two and half years to create the plan. The main aim of the plan was to improve the manufacturing capability of China and transform it into a leading manufacturer by 2049. The plan focuses on changing the current perspective of more quantity over quality with sustainability in mind. The only way to achieve the desired result of repositioning its manufacturing sector within global value chains is to focus more on innovation. The plans list out an explicit goal of raising the domestic content of core components and materials to 40% by 2020 and 70% by 2025.
Further, the report states that one of the major factors hindering the growth of this market is High cost pressure faced by OEMs to offer ADAS at competitive prices. Dynamism in the regulatory environment and growing consumer demand are placing considerable pressure on OEMs. The rising death toll due to pollution and traffic accidents is forcing regulatory bodies to enforce stringent emission norms. Restricting the rate of emission and enhancing vehicle safety increases the overall cost of the vehicle. To lower the cost of vehicles, OEMs must innovate on drivetrain technologies to lower emissions.
Bosch, Continental, Delphi Automotive, DENSO, Mobileye, and Valeo, Aisin Seiki, Autoliv, Calsonic Kansei, Hyundai Mobis, Magna, Panasonic, Visteon, and ZF Friedrichshafen AG