The increasing deployment of semi-autonomous vehicles is fueling the demand for advanced driver assistance system (ADAS) sensors. Regulatory authorities in several countries have made the installation of driver assistance features mandatory in vehicles, on account of the ability of these systems to improve vehicular safety and reduce the chances of road accidents. As a result, several automobile manufacturing companies are increasingly integrating ADASs such as adaptive cruise control, automatic parking, anti-lock braking systems, and automatic emergency braking in vehicles.
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Additionally, the rising implementation of favorable government regulations regarding the usage of autonomous vehicles in several countries is propelling the sales of ADAS sensors across the world. Several regulations are being passed every year all over the world regarding autonomous vehicle deployment. For example, in the U.S., as many as 33 states enacted legislations and policies regarding the deployment of autonomous vehicles in 2017. Similarly, in 2018, 18 autonomous vehicle-related bills were enacted by 15 states in the U.S.
Globally, the ADAS sensor market recorded the highest growth in Europe in the past years. In the forthcoming years, the market will demonstrate the fastest growth in Asia-Pacific (APAC), as per the estimates of P&S Intelligence, a market research company based in India. In APAC, the sales of ADAS sensors will soar in China in the future. This will be because of the high automobile manufacturing capacity and the rapid technological advancements being made in autonomous vehicles in the country.
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Hence, it is safe to say that the demand for ADAS sensors will shoot-up all over the world in the forthcoming years, primarily because of the rising requirement for advanced safety features in automobiles and the growing deployment of autonomous vehicles around the world.