Latin America Advanced Driving Assistance Systems (ADAS) Market (2022-2028) | Size, Share, Trends, Value, Forecast, Analysis, Growth, Segmentation & COVID-19 IMPACT

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

Latin America advanced driving assistance systems market Synopsis

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.

Market Analysis By Product Type

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.

Market Analysis By Competitive Landscape

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.

COVID-19 Influence on the Latin America advanced driving assistance systems market

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.

Key Attractiveness of the Report

  • COVID-19 Influence on the Market
  • 8 Years of Market Numbers
  • Historical Numbers from 2018 to 2021.
  • Base Year: 2021
  • Forecast Data Until 2028
  • Key Performance Indicators Influencing the Market.
  • Key Upcoming Developments and Projects.

Key Highlights of the Report

  • Latin America advanced driving assistance systems market Overview
  • Latin America advanced driving assistance systems market Outlook
  • Latin America advanced driving assistance systems market Forecast
  • Forecast of Latin America advanced driving assistance systems market Revenues, for the Period 2021-2028F
  • Forecast of Latin America Advanced Driving Assistance Market Revenues, By Product Types, for the Period 2021-2028F
  • Forecast of Latin America Advanced Driving Assistance Market Revenues, By Sensor Types, for the Period 2021-2028F
  • Forecast of Latin America Advanced Driving Assistance Market Revenues, By Vehicle Types, for the Period 2021-2028F
  • Forecast of Latin America Advanced Driving Assistance Market Revenues, By Countries, for the Period 2021-2028F
  • Latin America Advanced Driving Assistance Market Share, By Market Players
  • Market Drivers and Restraints
  • Latin America Advanced Driving Assistance Market Trends
  • Competitive Benchmarking
  • Key Strategic Recommendations

Markets Scope and Segmentation

The report delivers a widespread study of the subsequent market segments:

By Product Types

  • Adaptive Cruise Control
  • Blind spot Detection
  • Park Assist
  • Autonomous Emergency Braking
  • Intelligent Headlights
  • Others

By Sensor Types

  • LiDAR
  • RADAR
  • Camera
  • Ultrasonic

By Vehicle

  • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Commercial vehicles

By Countries

  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
Frequently Enquired Queries Regarding the Market Study: FAQs

1). Does the report include the impression of COVID-19?

The report not only has considered COVID-19 impact but also current market dynamics, trends, and KPIs into consideration.

2). Which product type accounts for the maximum market share in the Latin America Advanced     Driving Assistance Systems Market?

By product types, park assist systems accounted for the highest share owing to their higher cost arising from numerous sensors that are required for the functioning of the system.

3). Which segment is exhibited to gain traction over the forecast period?

By sensor types, camera sensors acquired the highest market revenue share in Latin America advanced driving assistance systems market owing to their multi-utility advantage.

4). What are the critical factors which are increasing the market demand?                                                

The growth of the market is attributed to increasing demand for safety and security features in vehicles, increasing government regulations, and increased adoption of ADAS across various vehicle segments.

5). What are the major challenges in the Latin America advanced driving assistance systems market?                              

Some of the major challenges are lack of awareness among consumers. This can be due to concerns about safety and privacy, as well as doubts about whether the technology is effective. Additionally, there are limited options for deploying ADAS systems in vehicles, which has led to slow adoption rates.

6). Is customization available in the market study?

Yes, we can do customization as per your requirements. Please feel free to write to us sales@6wresearch.com for any customized or any other requirements.

7). We also want to have market reports for other countries/regions.

6Wresearch has a database of more than 60 countries globally, which can make us your first choice of all your research needs.

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 Porter’s 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 Systems  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)
 
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