- December 14, 2020
- Category: Automotive Electronics, Automotive, Logistics and Transportation
Global Advanced driver-assistance systems (ADAS) calibration equipment Market is valued approximately at USD 200 Million in 2019 and is anticipated to grow with a healthy growth rate of more than 12.00% over the forecast period 2020-2027. Advanced driver-assistance systems (ADAS) are electronic systems that assist drivers in driving and parking functions. Through a safe human-machine interface, ADAS increases car and road safety. ADAS systems use automated technology, such as sensors and cameras, to detect nearby obstacles or driver errors, and respond accordingly. The presence of favorable government regarding road safety is the factor stimulating the demand for ADAS calibration equipment over the forecast years. For instance: European Commission has accepted new road safety rules and regulations under the General Safety Regulation. According to these regulations, some of the ADAS features such as advanced emergency braking, lane-keeping assistance and advanced emergency braking have become mandatory. Similarly, according to the Ministry of Road Transport & Highways (India) 2018, it is mandatory for all passenger cars and mini-buses to be fitted with ABS from April 2019. In addition, growing production of passenger and commercial vehicles across the globe is the factor propelling the growth of market over the forecast years. However, presence of stringent regulation regarding approval and certification of Advanced driver-assistance systems (ADAS) calibration equipment is hampering the growth of market over the forecast years.
The regional analysis of the global ADAS calibration equipment market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of stringent government norms regarding road safety in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as growing production of both passenger and commercial vehicle in the region is creating a lucrative opportunity for the growth of the cancer vaccine market in the Asia-Pacific region.
Major market player included in this report are:
Robert Bosch GmbH
LAUNCH Europe GmbH
Autel Intelligent Technology Corp., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Vehicle offerings of key players. The detailed segments and sub-segment of the market are explained below:
Tier 1 suppliers
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global ADAS calibration equipment Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers