DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/j7xnp9/global_advanced) has announced the addition of the "Global Advanced Driver Assistance System Market 2011-2015" report to their offering.
TechNavio's analysts forecast the Global Advanced Driver Assistance System market to grow at a CAGR of 38.64 percent in terms of revenue over the period 2011-2015. One of the key factors contributing to this market growth is the demand for advanced driver assistance systems due to government regulations. The Global Advanced Driver Assistance System market has also been witnessing the advancement in product development ability. However, the high cost of ADAS could pose a challenge to the growth of this market.
Key vendors dominating this market space include Audi AG, Autoliv Inc., Bayerische Motoren Werke AG (BMW), Continental AG, Denso Corp., Fiat S.p.A., Ford Motor Co., Takata Corp., and TRW Inc.
Other vendors mentioned in the report: General Motors, Hyundai Motor Co., Mercedes-Benz, Nissan Motor Co., PSA Peugeot Citroen, Toyota Motor Corp., Ford Motor Co., Aisin Group, Audiovox Corp., Robert Bosch GmbH, Continental AG, Delphi Corp., Denso Corp., Hella KGaA Hueck and Co., and Valeo SA.
Commenting on the report, an analyst from TechNavio's Automotive team said: ''Advanced driver assistance system (ADAS) technology is expected to witness new regulations and New Car Assessment Program (NCAP) ratings in the coming years. Advanced emergency braking systems (AEBS) and lane departure warnings (LDWs) will be mandated for trucks greater than 3.5 tons in Japan by 2013 and in Europe by 2014. Additionally, forward collision warnings (FCWs) and LDW will be part of NCAP testing in the US in 2012, while FCWs, AEBS, LDWs and blind spot detection (BSD) will be part of European NCAP star ratings by 2014. Back-up assistance is expected to be mandatory for SUVs and vans in the US by 2015, and AEBS should be mandatory for new cars in Japan, the US and Europe by 2020.''
According to the report, currently, governments in various regions, particularly Europe and North America, are promoting advanced vehicle safety technologies. For instance, in the US, the key safety goal of the US Federal Motor Carrier Safety Administration (FMCSA) is to reduce the number and severity of commercial motor vehicle (CMV) crashes. Over the last few years, the FMCSA has been collaborating with the Truck industry to test, evaluate and facilitate the use of onboard safety systems for CMVs in an effort to enhance the safety of all road users. Hence, various government regulations across the world are driving the Global ADAS market.
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Source: Research and Markets