Further, the report states that one of the major factors hindering the growth of this market is High cost pressure faced by OEMs to offer ADAS at competitive prices. Dynamism in the regulatory environment and growing consumer demand are placing considerable pressure on OEMs.
MRC Announces the Publication of its Research Report – Automotive ADAS Market in China 2017-2021
MRC recognizes the following companies as the key players in the automotive ADAS market in China: Bosch, Continental, Delphi Automotive, DENSO, Mobileye, and Valeo
Other Prominent Vendors in the market are: Aisin Seiki, Autoliv, Calsonic Kansei, Hyundai Mobis, Magna, Panasonic, Visteon, and ZF Friedrichshafen AG
Commenting on the report, an analyst from MRC’s team said: “The latest trend gaining momentum in the market is Advanced camera technology to grow faster than other sensors. Modern vehicles are considered as computers on wheels as they are packed with sensors, chips, codes, and cameras, all of which control the automobile.
OEMs still use traditional rear-view mirrors, which reduce the aerodynamic performance of the vehicle. NHTSA was requested by the American Automobile Association (AAA) to change the 1968 rule that mandated the use of side and rear-view mirrors in passenger cars and replace them with side-view and rear-view cameras.
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According to the report, one of the major drivers for this market is Made in China 2025 plan. In 2015, the Made in China 2025 plan was compiled by MIIT.
A total of 150 experts from the China Academy of Engineering worked with three other ministries for two and half years to create the plan. The main aim of the plan was to improve the manufacturing capability of China and transform it into a leading manufacturer by 2049.
The plan focuses on changing the current perspective of more quantity over quality with sustainability in mind. The only way to achieve the desired result of repositioning its manufacturing sector within global value chains is to focus more on innovation.
The plans list out an explicit goal of raising the domestic content of core components and materials to 40% by 2020 and 70% by 2025.
The rising death toll due to pollution and traffic accidents is forcing regulatory bodies to enforce stringent emission norms. Restricting the rate of emission and enhancing vehicle safety increases the overall cost of the vehicle.
To lower the cost of vehicles, OEMs must innovate on drivetrain technologies to lower emissions.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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