Middle East & Africa Advanced Driver Assistance System (Adas) Market Forecast 2020-2028
The Middle East & Africa advanced driver assistance market (ADAS) is estimated to register growth at a CAGR of 9.05% during the forecast period, 2020-2028. The growing population, economic developments, and improved living standards, due to growing disposable incomes are the factors propelling the growth of the market.
The countries evaluated for market growth in the Middle East & Africa ADAS market are South Africa, Saudi Arabia, the United Arab Emirates, and the rest of the Middle East & Africa. South Africa’s automotive sector encompasses a large number of people in automotive manufacturing, automotive retail, and aftermarket initiatives. The government has recognized the automotive sector as one of the key growth sectors that showcase considerable growth under the Motor Industry Development Programme (MIDP). The growing automotive vehicle production market is estimated to propel the growth of safety components like automotive ADAS. The reforms by the automakers in an attempt to make their products customer-centric are projected to impact the automotive market recovery in a positive manner. This will further augment the ADAS market. Several distributors in the country import foreign brand ADAS supplementing the regional market and propelling the automotive market in the country. With countries like Nigeria investing millions on the import of different types of vehicles, Africa has become one of the fastest-growing automotive markets in the world. The market demand for premium passenger vehicles in Iran is anticipated to be beneficial for the country’s automotive market. In the case of Nigeria, the market for ADAS systems is estimated to be driven by the growing automotive market.
Some of the renowned companies in the market include, Infineon Technologies AG, Magna International Inc, NXP Semiconductors N.V., Omron Corporation, Valeo S.A., etc.
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