Automotive ADAS aftermarket market 2022-2026: Growing development of aftermarket ADAS for CVs to fuel the market growth as a key trend - Technavio

NEW YORK, Jan. 23, 2023 /PRNewswire/ -- According to Technavio, the global automotive ADAS aftermarket market size is estimated to grow by USD 3.15 billion from 2021 to 2026. The market is estimated to grow at a CAGR of 10.03% during the forecast period. Moreover, the growth momentum will accelerate. APAC will account for 32% of the growth of the global market during the forecast period. The growing development of aftermarket ADAS for CVs is a key trend in the market. The demand for aftermarket ADAS is increasing across the world. This demand is a result of the rise in the volume of vehicles globally. These factors will, in turn, support the growth of the automotive ADAS aftermarket market during the forecast period. For detailed information, buy the report!

Global automotive ADAS aftermarket market - Five forces
The global automotive ADAS aftermarket market is fragmented, and the five forces analysis covers– 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details –Request a sample report

Global automotive ADAS aftermarket market – Customer landscape 
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global automotive ADAS aftermarket market - Segmentation assessment

Segment overview
Technavio has segmented the market based on technology (passive park assists, FCWS and LDWS, and others) and vehicle type (passenger vehicles and commercial vehicles). 

• The passive park assists segment will account for a significant share of the global market during the forecast period. The growth of the market will be attributed to factors such as the adoption of passive systems owing to tight parking spaces in urban localities and the demand for simple and cost-effective solutions for lower-trim vehicles and older models.

Geography overview
Based on geography, the global automotive ADAS aftermarket market is segmented into North America, Europe, APAC, MEA, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive ADAS aftermarket market.

• APAC will account for 32% of the market's growth during the forecast period. China and Japan are the key countries for the automotive ADAS aftermarket market in the region. Moreover, market growth in this region will be faster than the growth of the market in North America, Europe, and MEA. The growth of the market is attributed to factors such as a significant increase in the adoption of the automotive ADAS aftermarket and the presence of prominent revenue contributing countries such as China, Japan, and South Korea.

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Global automotive ADAS aftermarket market – Market dynamics
Key factor driving market growth

• The decline in sensor prices is driving the market growth.
• The reduction in the price of displays is a result of the wide adoption from the consumer electronics and automotive segments, which has enabled automotive OEMs to reduce the cost of infotainment systems used in vehicles.
• The continuous decline in the price of sensors such as radars and cameras due to the rise in the application of these sensors in the automotive industry will support the growth of the automotive ADAS aftermarket market.
• Such factors are expected to impact the market positively during the forecast period.

Major challenges hindering market growth

• The adoption of active ADAS technologies by OEMs is challenging the growth of the market.
• The adoption of advanced ADAS technologies such as adaptive cruise control (ACC), and advanced emergency braking system (AEBS) is rising in mass-segment vehicles, which has created a technology gap between OEM offerings and aftermarket offerings of ADAS.
• Moreover, there is a lack of trust in ADAS, which leads to uncertainty in user acceptance of aftermarket ADAS.
• Such factors are expected to negatively impact during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this automotive ADAS aftermarket market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automotive ADAS aftermarket market between 2022 and 2026
• Precise estimation of the size of the automotive ADAS aftermarket market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the automotive ADAS aftermarket market across North America, Europe, APAC, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automotive ADAS aftermarket market vendors

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Table of contents

1. Executive Summary 

2. Market Landscape 

  2.1 Market ecosystem 

  Exhibit 01: Parent market

  2.2: Market Characteristics 

  2.2 Value chain analysis 

  Exhibit 02: Value Chain Analysis: Automotive components and accessories market

  2.2.1 Inputs:

  2.2.2 Inbound logistics

  2.2.3 Operations

  2.2.4 Distribution and logistics:

  2.2.5 Marketing and sales:

  2.2.6 Service

  2.2.7 Industry innovations

3. Market Sizing 

  3.1 Market definition

  Exhibit 03: Offerings of vendors included in the market definition

  3.2 Market segment analysis 

  Exhibit 04: Market segments

  3.3 Market size 2020 

  3.4 Market outlook: Forecast for 2020 - 2025 

  Exhibit 05: Global - Market size and forecast 2021 - 2026 ($ million)

  Exhibit 06: Global market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis 

  4.1 Five Forces Summary 

  Exhibit 07: Five forces analysis 2020 & 2025

  4.2 Bargaining power of buyers 

  4.3 Bargaining power of suppliers 

  4.4 Threat of new entrants 

  4.5 Threat of substitutes 

  4.6 Threat of rivalry 

  4.7 Market condition

  Exhibit 08: Market condition - Five forces 2021

5 Market Segmentation by Technology 

  5.1 Market segments

  The segments covered in this chapter are:

• Passive park assists
• FCWS and LDWS
• Others

  Exhibit 09: Technology - Market share 2021-2026 (%)

  5.2 Comparison by Technology 

  Exhibit 10: Comparison by Technology

  5.3 Passive park assists - Market size and forecast 2021-2026 

  Exhibit 11: Passive park assists - Market size and forecast 2021-2026 ($ million)

  Exhibit 12: Passive park assists - Year-over-year growth 2021-2026 (%)

  5.4 FCWS and LDWS - Market size and forecast 2021-2026 

  Exhibit 13: FCWS and LDWS - Market size and forecast 2021-2026 ($ million)

  Exhibit 14: FCWS and LDWS - Year-over-year growth 2021-2026 (%)

  5.5 Others - Market size and forecast 2021-2026 

  Exhibit 15: Others - Market size and forecast 2021-2026 ($ million)

  Exhibit 16: Others - Year-over-year growth 2021-2026 (%)

  5.6 Market opportunity by Technology 

  Exhibit 17: Market opportunity by Technology

6 Customer landscape 

  6.1 Overview

  Exhibit 18: Customer landscape

7 Geographic Landscape 

  7.1 Geographic segmentation

  Exhibit 19: Market share by geography 2021-2026 (%)

  7.2 Geographic comparison 

  Exhibit 20: Geographic comparison

  7.3 North America - Market size and forecast 2021-2026 

  Exhibit 21: North America - Market size and forecast 2021-2026 ($ million)

  Exhibit 22: North America - Year-over-year growth 2021-2026 (%)

  7.4 Europe - Market size and forecast 2021-2026 

  Exhibit 23: Europe - Market size and forecast 2021-2026 ($ million)

  Exhibit 24: Europe - Year-over-year growth 2021-2026 (%)

  7.5 APAC - Market size and forecast 2021-2026 

  Exhibit 25: APAC - Market size and forecast 2021-2026 ($ million)

  Exhibit 26: APAC - Year-over-year growth 2021-2026 (%)

  7.6 MEA - Market size and forecast 2021-2026 

  Exhibit 27: MEA - Market size and forecast 2021-2026 ($ million)

  Exhibit 28: MEA - Year-over-year growth 2021-2026 (%)

  7.7 South America - Market size and forecast 2021-2026 

  Exhibit 29: South America - Market size and forecast 2021-2026 ($ million)

  Exhibit 30: South America - Year-over-year growth 2021-2026 (%)

  7.8 Key leading countries 

    Exhibit 31: Key leading countries

  7.9 Market opportunity by geography

  Exhibit 32: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends 

  8.1 Market drivers 

  8.1.1 Decline in sensor prices

  8.1.2 Priority of automotive safety among customers

  8.1.3 Stringent regulations promoting the adoption of ADAS

  8.2 Market challenges 

  8.2.1 Adoption of active ADAS technologies by OEMs

  8.2.2 Lack of trust in ADAS leading to uncertainty in user acceptance of aftermarket ADAS

  8.2.3 Growing shortage of skilled automotive technicians

  Exhibit 33: Impact of drivers and challenges

  8.3 Market trends 

  8.3.1 Growing development of aftermarket ADAS for CVs

    8.3.2 Development of highly accurate map content for ADAS

  8.3.3 Growing online purchase of aftermarket ADAS

9. Vendor Landscape 

  9.1  Competitive scenario 

  9.2  Vendor landscape 

  Exhibit 34: Vendor Landscape

  9.3  Landscape disruption 

  Exhibit 35: Landscape disruption

  9.4  Industry risks 

  Exhibit 36: Industry risks

10.  Vendor Analysis 

  10.1  Vendors covered 

  Exhibit 37: Vendors covered

  10.2 Market positioning of vendors 

  Exhibit 38: Market positioning of vendors

  10.3 Brandmotion LLC 

  Exhibit 39: Brandmotion LLC - Overview

  Exhibit 40: Brandmotion LLC - Business segments

  Exhibit 41: Brandmotion LLC - Key offerings

  10.4 Continental AG 

  Exhibit 42: Continental AG - Overview

  Exhibit 43: Continental AG - Business segments

  Exhibit 44: Continental AG - Key offerings

  Exhibit 45: Continental AG - Segment focus

  10.5 Garmin Ltd. 

  Exhibit 46: Garmin Ltd. - Overview

  Exhibit 47: Garmin Ltd. - Business segments

  Exhibit 48: Garmin Ltd. - Key offerings

  Exhibit 49: Garmin Ltd. - Segment focus

  10.6 Gentex Corp. 

  Exhibit 50: Gentex Corp. - Overview

  Exhibit 51: Gentex Corp. - Business segments

  Exhibit 52: Gentex Corp. - Key offerings

  Exhibit 53: Gentex Corp. - Segment focus

  10.7 Intel Corp. 

  Exhibit 54: Intel Corp. - Overview

  Exhibit 55: Intel Corp. - Business segments

  Exhibit 56: Intel Corp. - Key offerings

  Exhibit 57: Intel Corp. - Segment focus

  10.8 Knorr Bremse AG 

  Exhibit 58: Knorr Bremse AG - Overview

  Exhibit 59: Knorr Bremse AG - Business segments

  Exhibit 60: Knorr Bremse AG - Key offerings

  Exhibit 61: Knorr Bremse AG - Segment focus

  10.9 Nortek Security and Control LLC 

  Exhibit 62: Nortek Security and Control LLC - Overview

  Exhibit 63: Nortek Security and Control LLC - Product and service

  Exhibit 64: Nortek Security and Control LLC - Key offerings

  10.10 Valeo SA 

  Exhibit 65: Valeo SA - Overview

  Exhibit 66: Valeo SA - Business segments

  Exhibit 67: Valeo SA - Key offerings

  Exhibit 68: Valeo SA - Segment focus

  10.11 VOXX International Corp. 

  Exhibit 69: VOXX International Corp. - Overview

  Exhibit 70: VOXX International Corp. - Business segments

  Exhibit 71: VOXX International Corp. - Key offerings

  Exhibit 72: VOXX International Corp. - Segment focus

  10.12 Wabtec Corp. 

  Exhibit 73: Wabtec Corp. - Overview

  Exhibit 74: Wabtec Corp. - Business segments

  Exhibit 75: Wabtec Corp. - Key offerings

11. Appendix 

  11.1 Scope of the report 

  11.1.1 Market definition

  11.1.2 Objectives

  11.1.3 Notes and caveats

  11.2 Currency conversion rates for US$ 

  Exhibit 76: Currency conversion rates for US$?

  11.3 Research Methodology 

  Exhibit 77: Research Methodology

  Exhibit 78: Validation techniques employed for market sizing?

  Exhibit 79: Information sources

  11.4 List of abbreviations 

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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