The global driver assistance system market is suggested to have grown to a value of around $13.4 billion at the beginning of 2013, and is forecast to reach a total of $33.6 billion by 2018. This suggests a CAGR growth rate of 20.1% between 2013 and 2018. Key drivers in this industry include the growth in demand for the premium cars segment, and increasingly strict safety regulations. In terms of volume sales, the global driver assistance systems market is estimated to reach a total of 108.6 million units by the end of 2018. The European region is suggested to be the leading market in 2018, followed by North America and Asia-Pacific.
The global driver assistance system market in 2013 is projected to be dominated by TPMS, park assist, and LDWS in terms of volume, whereas, in terms of revenue, ACC, TPMS, and drowsiness monitor would lead the chart.
The global demand for automobiles is increasing at a significant rate since past few years. Due to the global economic downturn, automobile industry witnessed a slight downfall from 2008, where global sales of the vehicles decreased to 68.1 million units from 71.2 million units (2007). The trend continued in 2009, where global vehicle sales further decreased to 65.4 million units. However, the scenario changed from 2010, where the sales increased to 74.6 million units and then to 77.9 million units (2011).
For more information on the Global driver assistance systems market, please click here: Global driver assistance systems market
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.