Market Forecast By Product Types (Adaptive Cruise Control, Blindspot Detection, Park Assist, Autonomous Emergency Braking, Intelligent Headlights & Others), By Sensor Types (LiDAR, RADAR, Camera, Ultrasonic), By Products (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), By Countries (Brazil, Mexico, Argentina, Rest Of Latin America) And Competitive Landscape
Product Code: ETC4377756 | Publication Date: Nov 2022 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Advanced driving assistance systems (ADAS) are becoming more prevalent in Latin America as the region's economies continue to grow and mobility levels increase. This growth is driven by many factors, including increasing consumer spending on luxury vehicles and a rise in government funding for road infrastructure. Additionally, the population is aging and more people are beginning to rely on cars for transportation. These factors are expected to drive demand for ADAS across Latin America. The Latin America advanced driving assistance systems market is a part of global advanced driving assistance systems market.
According to 6Wresearch, the Latin America advanced driving assistance systems market size is likely to witness growth during 2022-2028. The growing demand for safe driving and increasing incidences of Road Traffic Accidents are some key factors driving the market growth. Additionally, Factors such as increasing number of advanced driving assistance systems (ADAS) installations in Latin America owing to increased adoption of these systems in commercial vehicles and passenger cars, rise in demand for vehicle safety, and increase in demand for connected services are some of the key factors contributing to the growth of this market. However, challenges such as language barriers and lack of familiarity with new technologies are likely to restrain the growth of the market. In addition, stringent regulations and high installation costs are expected to impede the market's growth. The market is segmented on the basis of type of system and region. Moreover, based on geography, the Latin America ADAS Market is dominated by Brazil followed by Mexico and Argentina. Colombia is expected to be a major player in this market over the next few years owing to its high growth rate and increasing number of young drivers. Peru is also expected to witness significant growth in this region over the next few years owing to its burgeoning economy as well as increasing demand for advanced driving assistance systems among luxury car manufacturers in this country.
In terms of product type, the market is categorized into adaptive cruise control, blind spot detection, park assist, autonomous emergency braking, intelligent headlights and others. Currently, the park assist account for the highest market share. Additionally, radar-based systems are dominant in the Latin America Advanced Driving Assistance Systems market owing to their capability to provide accurate readings across different weather conditions. Camera-based systems are more popular in Brazil owing to its stringent safety norms and high population density.
The companies are focusing on developing high-quality products that meet the needs of end users. They are also collaborating with various partners such as automakers, service providers, and technology developers to enhance their product offerings. Additionally, the region is expected to grow at a higher rate than other regions owing to continuing demand from OEMs for advanced assistance systems and growing customer base. Europe is expected to witness significant growth over the next few years owing to increasing use cases such as traffic policing and accident prevention.
The manifestation of Covid-19 pandemic has caused a slowdown in the automotive market. Nevertheless, the market has convalesced progressively in recent years. The region has a population of over 500 million people and is projected to witness an increase in the demand for advanced driving assistance systems due to the increasing number of elderly drivers and a growing number of new drivers. Further, the primary drivers for this market are increasing demand for safety and improved driving skills, as well as increasing adoption of advanced assistance systems by vehicle manufacturers in the region.
The report delivers a widespread study of the subsequent market segments:
1. Executive Summary |
2. Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope and Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Latin America Advanced Driving Assistance Systems Market Overview |
3.1 Latin America Advanced Driving Assistance Systems Market Revenues (2021-2028F) |
3.2 Latin America Advanced Driving Assistance Systems Market Industry Life Cycle |
3.3 Latin America Advanced Driving Assistance Systems Market Porterβs Five Forces Model |
3.4 Latin America Advanced Driving Assistance Systems Market Revenue Share, By Product Types (2021 & 2028F) |
3.5 Latin America Advanced Driving Assistance Systems Market Revenue Share, By Sensor Types (2021 & 2028F) |
3.6 Latin America Advanced Driving Assistance Systems Market Revenue Share, By Vehicle Types (2021 & 2028F) |
3.7 Latin America Advanced Driving Assistance Systems Market Revenue Share, By Regions (2021 & 2028F) |
4. Impact Analysis of COVID-19 on Latin America Advanced Driving Assistance Systems Market |
5. Latin America Advanced Driving Assistance Systems Market Dynamics |
5.1 Impact Analysis |
5.2 Market Drivers |
5.3 Market Restraints |
6. Latin America Advanced Driving Assistance Systems Market Trends & Evolution |
7. Latin America Advanced Driving Assistance Systems Market Overview, By Product Types |
7.1 Latin America Advanced Driving Assistance Systems Market Revenues, By Adaptive Cruise Control (2021-2028F) |
7.2 Latin America Advanced Driving Assistance Systems Market Revenues, By Blindspot Detection (2021-2028F) |
7.3 Latin America Advanced Driving Assistance Systems Market Revenues, By Park Assist (2021-2028F) |
7.4 Latin America Advanced Driving Assistance Systems Market Revenues, By Autonomous Emergency Breaking (2021-2028F) |
7.5 Latin America Advanced Driving Assistance Systems Market Revenues, By Intelligent Headlights (2021-2028F) |
7.6 Latin America Advanced Driving Assistance Systems Market Revenues, By Others (2021-2028F) |
8. Latin America Advanced Driving Assistance Systems Market Overview, By Sensor Types |
8.1 Latin America Advanced Driving Assistance Systems Market Revenues, By Light Detection and Ranging (2021-2028F) |
8.2 Latin America Advanced Driving Assistance Systems Market Revenues, By Radar (2021-2028F) |
8.3 Latin America Advanced Driving Assistance Systems Market Revenues, By Camera (2021-2028F) |
8.4 Latin America Advanced Driving Assistance Systems Market Revenues, By Ultrasonic (2021-2028F) |
9. Latin America Advanced Driving Assistance Systems Market Overview, By Vehicle Types |
9.1 Latin America Advanced Driving Assistance Systems Market Revenues, By Passenger Cars (2021-2028F) |
9.2 Latin America Advanced Driving Assistance Systems Market Revenues, By Light Commercial Vehicles (2021-2028F) |
9.3 Latin America Advanced Driving Assistance Systems Market Revenues, By Heavy Commercial vehicles (2021-2028F) |
10. Latin America Advanced Driving Assistance Systems Market Overview, By Regions |
10.1 Latin America Advanced Driving Assistance Systems Market Revenues, By Latinern Region (2021-2028F) |
10.2 Latin America Advanced Driving Assistance Systems Market Revenues, By Western Region (2021-2028F) |
10.3 Latin America Advanced Driving Assistance Systems Market Revenues, By Eastern Region (2021-2028F) |
10.4 Latin America Advanced Driving Assistance Systems Market Revenues, By Southern Region (2021-2028F) |
11. Latin America Advanced Driving Assistance Systems Market - Key Performance Indicators |
12. Latin America Advanced Driving Assistance Systems Market - Opportunity Assessment |
12.1 Latin America Advanced Driving Assistance Systems Market Opportunity Assessment, By Product Types (2028F) |
12.2 Latin America Advanced Driving Assistance Systems Market Opportunity Assessment, By Sensor Types (2028F) |
12.3 Latin America Advanced Driving Assistance Systems Market Opportunity Assessment, By Regions (2028F) |
13. Latin America Advanced Driving Assistance Systems Market - Price Trend Analysis |
14. Latin America Advanced Driving Assistance Systems Market Competitive Landscape |
14.1 Latin America Advanced Driving Assistance Systems Market Revenue Ranking, By Companies (2021) |
14.2 Latin America Advanced Driving Assistance Systems Market Competitive Benchmarking, By Operating Parameters |
15. Company Profiles |
15.1 Bosch Limited |
15.2 Denso Latin America Pvt Ltd |
15.3 Wabco Latin America Limited |
15.4 Continental Automotive Components (Latin America) Pvt Ltd |
15.5 Infineon Technologies Latin America Pvt Ltd |
15.6 Hella Latin America Automotive Pvt Ltd |
16. Key Strategic Recommendations |
17. Disclaimer |
List of Figures |
Figure 1: Latin America Advanced Driving Assistance Systems Market Revenues, 2021-2028F (INR Crores) |
Figure 2: Latin America Advanced Driving Assistance Systems Market Revenue Share, By Product Types, 2021 & 2028F |
Figure 3: Latin America Advanced Driving Assistance Systems Market Revenue Share, By Sensor Types, 2021 & 2028F |
Figure 4: Latin America Advanced Driving Assistance Systems Market Revenue Share, By Vehicle Types, 2021 & 2028F |
Figure 5: Latin America Advanced Driving Assistance Systems Market Revenue Share, By Regions, 2021 & 2028F |
Figure 6: ABS and Electronic brake force distribution market penetration in Latin America, (units) |
Figure 7: Traction control system market penetration in Latin America, (Units) |
Figure 8: Electronic stability program market penetration in Latin America, (USD units) |
Figure 9: Number of road accidents in Latin America, 2016-2020 |
Figure 10: Number of deaths per 100 road accidents in Latin America |
Figure 11: Number of deaths in road accidents in Latin America |
Figure 12: Highway Construction in Latin America (Kilometers) |
Figure 13: Investment outlay for roads under union budget ($ billion) |
Figure 14: Auto Services Market in Latin America, 2019-2026F, (USD billion) |
Figure 15: Latin America automobile market growth, 2019-2026F (USD, Billion) |
Figure 16: Latin America passenger cars penetration, 2019-2026F (per 1000 people) |
Figure 17: Latin America Advanced Driving Assistance SystemsΒ Market Opportunity Assessment, By Product types, 2028F |
Figure 18: Latin America Advanced Driving Assistance Systems Market Opportunity Assessment, By Sensor types, 2028F |
Figure 19: Latin America Advanced Driving Assistance Systems Market Opportunity Assessment, By Regions, 2028F |
Figure 20: Latin America Advanced driving assistance systems market revenue rankings, By Company |
List of Tables |
Table 1: Autonomous vehicle readiness Index, 2020 |
Table 2: Latin America Advanced Driving Assistance Systems Market Revenues, By Product Types, 2021-2028F (INR Crores) |
Table 3: Latin America Advanced Driving Assistance Systems Market Revenues, By Sensor Types, 2021-2028F (INR Crores) |
Table 4: Latin America Advanced Driving Assistance Systems Market Revenues, By Vehicle Types, 2021-2028F (INR Crores) |
Table 5: Latin America Advanced Driving Assistance Systems Market Revenues, By Regions, 2021-2028F (INR Crores) |