Skip to main content

Advanced Driver Assistance System (ADAS) Testing Equipment Market Analysis, Trends, Top Manufacturers, Share, Growth, Statistics, Opportunities and Forecast to 2031

 As per a recent market survey by ESOMAR-certified consulting firm Future Market Insights (FMI), the global ADAS testing equipment market reached US$ 222,486 Thousand in 2021.

Development of sophisticated ADAS equipment, coupled with increasing adoption of autonomous vehicles in various countries, is identified as key growth accelerators in the report. Owing to these factors, FMI has projected the market to expand at an impressive 12.10% CAGR through 2031.

Sales of ADAS testing equipment dampened in the first half of FY’2020 due to the onset of the COVID-19 outbreak. Restrictions in movement and halted production, along with disrupted supply chains further impacted the market growth. However, recovery of the ADAS market is on card, as the market experienced year-over-year growth by 9.1% from 2020 to 2021.

Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-283

In addition, stringent government regulations regarding appropriate testing of advanced and newly launched ADAS-equipped vehicles will continue driving market sales. Advancements in sensor technology and increasing incorporation of connective technology such as artificial intelligence (AI) and big data will create opportunities for expansion in the ADAS testing equipment market.

FMI’s in-depth regional analysis estimates the U.S. to lead the North American ADAS testing equipment market. Increasing cases of road fatalities have underscored the need for efficient ADAS equipment in the country, which in turn is augmenting the ADAS equipment market growth.

“Government initiatives regarding the maintenance of road safety, coupled with technological advancements in ADAS by OEMs will continue facilitating the growth of the global ADAS testing equipment market through 2031,” says the FMI analyst.

Key Takeaways:

  • Based on product type, hardware is anticipated to record maximum sales in the ADAS testing equipment market.
  • OEMs and tier-1 suppliers will emerge as prominent users of ADAS testing equipment.
  • The U.S. is expected to exhibit high demand for ADAS testing equipment, with the North America market expanding at a prolific 11.30% CAGR through 2031.
  • The U.K. will emerge as an attractive market, owing to stringent ADAS testing policies. FMI projects the European market to grow at a healthy 8.0% CAGR.
  • Sales prospects of ADAS testing equipment are projected to be bright in China, owing to rapid adoption of high-tech ADAS testing equipment in the automotive sector.
  • India will exhibit steady demand for ADAS testing equipment due to growing concerns regarding road safety and the recent influx of autonomous vehicles in the country.
  • Japan and South Korea will collectively account for 14% of the total market share.

Key Segment

By Product:

  • Hardware
  • Software

By End-User Type:

  • Automotive OEMs
  • Tier-1 Suppliers
  • Labs and Other Institutes

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Middle East and Africa (MEA)

We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-283

Table Of Content

  1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Technology Roadmap

1.5. Analysis and Recommendations

  1. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

  1. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation / Development Trends

  1. Key Success Factors

4.1. Product Adoption / Usage Analysis

4.2. Product USPs / Features

4.3. Strategic Promotional Strategies

Direct Purchase of this Report@ https://www.futuremarketinsights.com/checkout/283

Competitive Landscape

Konrad GmbH, AB Dynamics plc, National Instruments Corporation, TKH Group NV, Oxford Technical Solutions Ltd., and Racelogic Ltd. are among the leading players operating in the ADAS testing equipment market. As per FMI, top 5 players in the market are estimated to hold around 50% of the total market share.

As a part of their growth strategies, players are focusing on collaborations, mergers, and acquisitions to incorporate the latest ADAS technologies in their current product portfolios. Further, intensive research and development, coupled with private sector funding will remain among the prominent growth strategies through 2031. For instance:

  • In July 2021, National Instruments Corporation and Seagate Technology Holdings, a leader in data storage solutions, announced a collaboration to launch first of its kind ADAS record offering, further enhancing their data storage and transfer services.
  • In January 2021, Park Assist and ParkEyes, leading suppliers of ADAS equipment, merged with TKH Security, a part of TKH Group. The merger is aimed to strengthen TKH Group’s global footprint and to expand its product line and services to cater to evolving customers’ needs.

Key Points Covered in ADAS Testing Equipment Market Survey

  • Market estimates and forecast 2021-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on ADAS Testing Equipment and how to Navigate
  • Recommendation on Key Winning Strategies

Top Reports Related To Automotive Market Insights

Automotive Repair and Maintenance Services Market : According to a new report published by Future Market Insights titled “Automotive Repair and Maintenance Services Market: Global Industry Analysis & Opportunity Assessment, 2016 – 2026”, the global automotive repair and maintenance services market is estimated to reach a market valuation of US$ 441.3 Bn by 2016 end, witnessing a 5.6% CAGR between 2016 and 2026. Automobile dealership owners will continue to hold dominant share in the global automotive repair and maintenance services market accounting for over 25% share of the total market by the end of 2016.

Automotive Interior Leather Market : Globalization of the automobile industry and rising demand for automotive interior customization are expected to remain chief driving factors of the global automotive interior leather market. According to Future Market Insights (FMI), the global automotive interior leather market is estimated to be valued at ~US$ 29.9 Bn in 2021.

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact

Mr. Debashish Roy
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/advanced-driver-assistance-systems-market
Press Release Source: https://www.futuremarketinsights.com/press-release/advanced-driver-assistance-systems-market

Comments

Post a Comment

Popular posts from this blog

Frozen Foods Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

 The Frozen Foods Market has experienced a significant transformation in recent years and continues to be a prominent and dynamic segment of the global food industry. As we move into 2033, this market remains a crucial part of modern lifestyles, offering a wide variety of convenient and preserved food options for consumers. The growth of the Frozen Foods Market is fueled by changing consumer preferences, technological innovations, and an ever-increasing demand for convenient, time-saving, and nutritious meal solutions. In 2033, the Frozen Foods Market is expected to continue its upward trajectory, as more consumers seek the benefits of frozen products. This market encompasses an extensive range of items, from frozen vegetables and fruits to ready-to-eat meals, appetizers, and desserts. The versatility and extended shelf life of frozen foods have made them an essential staple in many households. Consumers are drawn to the convenience of having quick, easy-to-prepare, and
Post a Comment
Read more

Automotive Filters Market Share and Growth Factors Impact Analysis 2029

 The global automotive filters market is expected to experience significant growth over the forecast period, due to the increasing demand for advanced automotive systems and the rising demand for fuel-efficient and eco-friendly vehicles. Automotive filters are used to remove contaminants, such as dust, dirt, and debris, from the air, oil, and fuel in a vehicle. The market is segmented based on type, vehicle type, and region. Based on type, the market is divided into air filters, oil filters, fuel filters, and others. The air filter segment is expected to dominate the market, due to the increasing demand for advanced air filtration systems in vehicles. Based on vehicle type, the market is classified into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment is expected to dominate the market, due to the increasing demand for passenger cars and the increasing adoption of advanced filtration systems in passenger cars. Geographi
Post a Comment
Read more

Iris Biometrics Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

 The Iris Biometrics Market stands as a testament to the ever-evolving landscape of biometric technology, offering a unique and highly secure method of identity verification and authentication. The iris, with its intricate and individualistic patterns, has captured the attention of both security experts and technology developers as a reliable means of confirming one's identity. This market has gained prominence across various industries, ranging from border control and law enforcement to access control systems in government institutions, corporate offices, and even consumer devices. The market's growth is fueled by the increasing need for robust identity verification solutions in a world where security breaches and identity theft are becoming more prevalent. Unlike traditional authentication methods such as passwords and PINs, iris biometrics offer a high level of security and accuracy, as the iris pattern is virtually impossible to replicate. The technology prov
Post a Comment
Read more