Published by Uma Rajagopal
Posted on February 2, 2022
The ADAS calibration equipment market has been significantly impacted by the ongoing coronavirus pandemic in 2020. Restrictions on operations and supply chains of the global automotive industry in addition to shortages of manpower and components owing to supply chain disruptions has limited short term growth of the industry.
According to analysts from Future Market Insights (FMI), the ADAS calibration equipment industry is expected to display a very impressive 11.4% CAGR for the assessment period between 2020 and 2030. As per the latest report the market is likely to gain ground with investments in the automotive industry towards technology needed for autonomous driving functions.
The ADAS calibration equipment sector will largely display an upward trajectory for the duration of the projection period, driven by frequent innovations in ADAS camera and sensor technology and product development investments by calibration equipment manufacturers. On the other hand, the high costs of ADAS systems, lack of consumer awareness, and applications restricted primarily to premium vehicles limit demand for ADAS calibration equipment.
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Key Takeaways
“Rising demand for advanced features in passenger vehicles is a key factor boosting the demand for ADAS calibration equipment. East Asia is projected to display rapid growth in the coming decade, with rising adoption of ADAS in mid-range vehicle offerings,” says a lead analyst at FMI.
Covid-19 Impact on Advanced System Driver Assistance Calibration Equipment Market
The covid-19 pandemic has had a negative impact on the ADAS calibration equipment market. Restrictions on the automotive industry have resulted in delays in terms of automotive production, which has resulted in a significant slump in short term demand.
In addition, ADAS calibration equipment manufacturers are also facing challenges in terms of cash flow, reduced access to manpower and a shortage of component supplies, which are hindering operations in the industry.
However, the market is likely to display strong recovery towards 2021, with relaxation on lockdown restrictions, pending automotive production orders, and the transition towards electric vehicles, which are expected to generate lucrative opportunities for manufacturers in the years to come.
Who is Winning?
Future Market Insights has provided a comprehensive analysis of the strategies being employed by players in the largely consolidated ADAS calibration equipment market. Manufacturers are primarily investing in product development strategies, with the integration of cutting-edge automotive technologies to consolidate market position over competitors with a wider-ranging portfolio.
The Burke Porter Group, Robert Bosch GmbH, Hofmann Megaplan GmbH, Mahle GmbH, Cojali S.L., HELLA GmbH & Co. KGaA, Launch Tech Co. Ltd., TEXA S.p.A., and Autel Intelligent Technology Corp. Ltd. are some of the more prominent participants in the ADAS calibration equipment market.
We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-10513
Key Segments
Vehicle Type
End Users
Direct Purchase of this Report@ https://www.futuremarketinsights.com/checkout/10513
Top Reports Related To Testing Equipment Market Insights
Rheometers Market : Revenue generated in the testing and certification agency segment of the rheometers market increased at a robust 11.5% year over year in 2021. As per Future Market Insights (FMI), demand in the Industrial segment increased by 8.6% between 2020 and 2021, facilitating the combined Rheometer markets year-over-year growth at 9.3% in 2021.
Fertigation Control System Market : Growing concerns over food security and sustainability of intensive farming practices are key factors supporting the adoption of fertigation control systems. According to a recent report by Future Market Insights (FMI), the market will cross US$ 247 Mn in 2021, rising at a CAGR of 6.7% year on year growth in 2021.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/adas-calibration-equipment-market
Press Release Source: https://www.futuremarketinsights.com/press-release/adas-calibration-equipment-market
The ADAS calibration equipment market has been significantly impacted by the ongoing coronavirus pandemic in 2020. Restrictions on operations and supply chains of the global automotive industry in addition to shortages of manpower and components owing to supply chain disruptions has limited short term growth of the industry.
According to analysts from Future Market Insights (FMI), the ADAS calibration equipment industry is expected to display a very impressive 11.4% CAGR for the assessment period between 2020 and 2030. As per the latest report the market is likely to gain ground with investments in the automotive industry towards technology needed for autonomous driving functions.
The ADAS calibration equipment sector will largely display an upward trajectory for the duration of the projection period, driven by frequent innovations in ADAS camera and sensor technology and product development investments by calibration equipment manufacturers. On the other hand, the high costs of ADAS systems, lack of consumer awareness, and applications restricted primarily to premium vehicles limit demand for ADAS calibration equipment.
Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-10513
Key Takeaways
“Rising demand for advanced features in passenger vehicles is a key factor boosting the demand for ADAS calibration equipment. East Asia is projected to display rapid growth in the coming decade, with rising adoption of ADAS in mid-range vehicle offerings,” says a lead analyst at FMI.
Covid-19 Impact on Advanced System Driver Assistance Calibration Equipment Market
The covid-19 pandemic has had a negative impact on the ADAS calibration equipment market. Restrictions on the automotive industry have resulted in delays in terms of automotive production, which has resulted in a significant slump in short term demand.
In addition, ADAS calibration equipment manufacturers are also facing challenges in terms of cash flow, reduced access to manpower and a shortage of component supplies, which are hindering operations in the industry.
However, the market is likely to display strong recovery towards 2021, with relaxation on lockdown restrictions, pending automotive production orders, and the transition towards electric vehicles, which are expected to generate lucrative opportunities for manufacturers in the years to come.
Who is Winning?
Future Market Insights has provided a comprehensive analysis of the strategies being employed by players in the largely consolidated ADAS calibration equipment market. Manufacturers are primarily investing in product development strategies, with the integration of cutting-edge automotive technologies to consolidate market position over competitors with a wider-ranging portfolio.
The Burke Porter Group, Robert Bosch GmbH, Hofmann Megaplan GmbH, Mahle GmbH, Cojali S.L., HELLA GmbH & Co. KGaA, Launch Tech Co. Ltd., TEXA S.p.A., and Autel Intelligent Technology Corp. Ltd. are some of the more prominent participants in the ADAS calibration equipment market.
We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-10513
Key Segments
Vehicle Type
End Users
Direct Purchase of this Report@ https://www.futuremarketinsights.com/checkout/10513
Top Reports Related To Testing Equipment Market Insights
Rheometers Market : Revenue generated in the testing and certification agency segment of the rheometers market increased at a robust 11.5% year over year in 2021. As per Future Market Insights (FMI), demand in the Industrial segment increased by 8.6% between 2020 and 2021, facilitating the combined Rheometer markets year-over-year growth at 9.3% in 2021.
Fertigation Control System Market : Growing concerns over food security and sustainability of intensive farming practices are key factors supporting the adoption of fertigation control systems. According to a recent report by Future Market Insights (FMI), the market will cross US$ 247 Mn in 2021, rising at a CAGR of 6.7% year on year growth in 2021.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Future Market Insights
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/adas-calibration-equipment-market
Press Release Source: https://www.futuremarketinsights.com/press-release/adas-calibration-equipment-market
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