Innovations are boosting the adoption of ADAS calibration equipment globally
DUBAI, UAE / ACCESSWIRE / November 3, 2020 / According to FMI, ADAS calibration equipment market is going to witness steady growth through 2020-2029. Manufacturers are focussing on growth strategies and incorporating advanced features to consolidate their position.
"Adoption of ADAS in mid-range vehicles especially in East Asia is contributing to an excellent growth trajectory," opines FMI.
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ADAS Calibrations Market- Key Highlights
- ADAS calibrations market size will surpass US$ 628 million by 2029.
- Due to a stringent safety rules, passenger vehicles require ADAS calibrations equipment, which is fuelling adoption.
- Automotive OEM holds a considerable share backed by improving spending capabilities on cutting edge technologies in ADAS sector.
- Europe will continue to remain a leading region and create substantial opportunities for market players.
ADAS Calibrations Market - Driving Factors
- Increased adoption for manufacturing steering, braking and monitoring systems has led to a steady market growth of ADAS calibrations market.
- Automotive legislations and safety regulations by the government are likely to bolster the growth aspects of the market.
- Use of ADAS expands when installed in vehicles as it widens parameter range and improves performance quality.
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ADAS Calibrations Market - Key Restraints
- Limited functionality and high cost remain key impediments
- Low awareness regarding ADAS systems has created bottlenecks for its adoption.
Impact on Market by Coronavirus Outbreak
Due to restrictions on automobile industry, this market has faced a negative impact due to COVID. Manufacturers faced loss in terms of work flow as well profit generation. Shortage of raw materials posed a significant threat to the market too. Vehicle sales declined to 20% in USA while 16% in Europe in 2020. Shutting down of plants and reduced demand has affected the market negatively.
Competitive Landscape
Companies are following unique strategies to expand their supply chains by collaborating with major industries. Leading players are working on cost-efficient solutions and investments.
Manufacturers are focussing on R&D investment to present new technique with better performance quality. Key players include The Burke Porter Group, Robert Bosch GmbH, Hofmann Megaplan GmbH, Mahle GmbH, Cojali S.L., HELLA GmbH & Co. KGaA, Launch Tech Co. Ltd., TEXA S.p.A., and Autel Intelligent Technology Corp etc.
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The Burke Porter Group has collaborated with Chief Collision Technology to develop Mosaic advanced technology which is the first automated ADAS calibration system.
Hella Gutmann Solutions launched CSC-Tool Mobile driver assistance device tool which an advanced portable version and requires reduced assembly time.
More on the report
This report presents an analysis on the basis of segments including vehicle type (passenger vehicles, commercial vehicles etc.) end-use (automotive OEM's, Tier 1 suppliers etc.) and a region wise segmentation (North America, Europe, Latin America, APEJ).
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
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Success Factors
3.1. Product Adoption / Usage Analysis
3.2. Product USPs / Features
3.3. Strategic Promotional Strategies
4. Global ADAS Calibration Equipment Market Demand Analysis 2015-2019 and Forecast, 2020-2030
4.1. Historical Market Volume (Units) Analysis, 2015-2019
4.2. Current and Future Market Volume (Units) Projections, 2020-2030
4.3. Y-o-Y Growth Trend Analysis
5. Global ADAS Calibration Equipment Market - Pricing Analysis
5.1. Regional Pricing Analysis By Vehicle Type
5.2. Pricing Break-up
6. Global ADAS Calibration Equipment Market Demand (in Value or Size in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030
6.1. Historical Market Value (US$ Mn) Analysis, 2015-2019
6.2. Current and Future Market Value (US$ Mn) Projections, 2020-2030
6.2.1. Y-o-Y Growth Trend Analysis
6.2.2. Absolute $ Opportunity Analysis
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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.
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SOURCE: Future Market Insights
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