Asia Pacific Advanced Driver Assistance System (Adas) Market Forecast 2020-2028
The Asia Pacific advanced driver assistance system (ADAS) market is projected to garner a CAGR of 15.23% during the forecast period, 2020-2028. The large presence of the top automotive manufactures of the world is the key factor propelling market growth in the region.
The Asia Pacific ADAS market growth is analyzed across countries like Vietnam, Thailand, South Korea, India, China, Japan, Australia & New Zealand, Indonesia, and the rest of the Asia Pacific. The Asia Pacific market region houses prominent manufacturers like Toyota Motor Corporation, Hyundai-Kia, Honda Motors, and Nissan, which is beneficial for the growth aspects of the market region. Japan is considered to be one of the major market for luxury cars in the Asia Pacific region. The automotive industry of the country houses some of the well-known global brands. Nissan launched a new product under the SUV segment, with increased active safety systems that include adaptive cruise control, forward collision braking, rear cross-traffic alert, and blind spot monitoring. The government in Japan is putting forth initiatives for enhancing the process of developing self-driven vehicles, and had allocated a considerable amount for building testing ground for autonomous vehicles. In countries like Singapore, there have been efforts to deploy autonomous driving for reducing traffic congestion. The government initiatives have also been in place for the development and innovation of the ADAS, along with autonomous vehicles.
Some of the renowned companies in the market include, Hyundai Mobis Co Ltd, Omron Corporation, Panasonic Corporation, Infineon Technologies AG, Mobileye N.V, Magna International Inc, NXP Semiconductors N.V, etc.
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