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3. New Product Launch and Development, joint Ventures, Partnerships, Collaborations, and Agreements are the Key Strategies Adopted by Market Players to Achieve Growth in the ADAS Market

The advanced driver assistance system (ADAS) market is projected to grow at a CAGR of 20.96% during the forecast period, to reach USD 91.83 billion by 2025 from an estimated USD 24.24 billion in 2018. Government regulations pertaining to vehicle safety and the increasing demand for a safe, efficient, and convenient driving experience are the key factors driving the growth of the ADAS market. In addition, the increasing demand for luxury cars is also expected to drive the market growth.

New product launch and development, Joint ventures, partnerships, collaborations, and agreements are the key strategies adopted by market players to achieve growth in the ADAS market. Robert Bosch (Germany), ZF Friedrichshafen (Germany), Aptiv (UK), Continental (Germany), and Intel (US) are some of the leading tier I suppliers that adopted these strategies in the ADAS market.  

New product launch is the most adopted strategy by the key players in the ADAS market. Tier I suppliers such as Denso (Japan), Continental (Germany), Robert Bosch (Germany), and ZF Friedrichshafen (Germany) adopted this strategy to achieve growth in the ADAS market.   

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Robert Bosch (Germany) is a global manufacturer specializing in mobility, software solutions, household, and industry and trade solutions. The company manufactures automotive components, power tools, security solutions, and household appliances. The company has 350 subsidiaries in 60 countries. Under its Mobility Solutions segment, the company offers automotive driving assistance systems such as lane departure warning system, predictive emergency braking system, rear cross traffic alert, road sign assist system, intelligent headlight control system, and adaptive cruise control system. The company is continuously expanding its product portfolio in ADAS system. For instance, in August 2017, Bosch launched a new driver assistance system called the predictive emergency braking system to protect pedestrians and cyclists.

ZF Friedrichshafen (Germany) acquired TRW (US), which has been incorporated as a new division called Active & Passive Safety Technology. The company operates through 7 business segments, namely, Active & Passive Safety Technology, Car Powertrain Technology, Car Chassis Technology, Commercial Vehicle Technology, Industrial Technology, ZF Services, and E-mobility. The company has 113 production locations in more than 20 countries. It maintains 22 technical centers and 13 test tracks around the world. It had an employee strength of 146,148 as of December 2017. In January 2018, ZF announced its plan to expand its manufacturing and engineering footprint in Poland to produce electronics for ADAS.

Related Reports:

ADAS Market by System (ACC, AFL, DMS, NVS, IPA, PDS, TJA, FCW, CTA, RSR, LDWS, AEB, & BSD), Component (Radar, LiDAR, Ultrasonic, and Camera Unit), Vehicle (PC, LCV, Buses, & Trucks), Offering (Hardware, Software), EV, and Region - Global Forecast to 2025

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