According to the research report titled, ‘Global Advanced Driver Assistance System (ADAS) Testing Equipment Market Size study, byby System (ACC, DMS, IPA, PDS, TJA, FCW, CTA, RSR, LDW, AEB, & BSD), Component (Radar, LiDAR, Ultrasonic, & Camera Unit), Vehicle (PC, LCV, Bus, & Truck), Electric vehicle (BEV ,HEV, PHEV,FCEV) Level of Autonomy (L1, L2&3, L4, L5), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global advanced driver assistance system (ADAS) testing equipment market was worth USD 27 billion in 2020 and is projected to register an annual growth rate of 11.9% during 2021-2026, thereby accumulating USD 59.32 billion by the end of the forecast duration.
 

Escalating demand for luxury cars integrated with advanced driving safety and comfort coupled with growing adoption of electric vehicles are aiding towards the expansion of global advanced driver assistance system testing equipment market. As per a data released by Global EV Outlook, the overall stock of electric passenger cars worldwide surpassed 5 million in 2018 with a jump of about 63% from 2017.
 

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For the unversed, advanced driver assistance system is referred to as a type of hazard detector which identifies differ type of obstacles from the surrounding vehicles and also monitors the vehicle. In addition to this, stringent road safety and driving rules set by various governments is also augmenting industry outlook.
 

On the contrary, dearth of crucial infrastructure and technology in emerging economies is likely to hamper the remuneration scope of global advanced driver assistance system testing equipment market.
 

Regionally speaking, Asia Pacific holds a significant market share and poised to showcase considerable expansion trends during 2021-2027. This can be credited to the high production of electric vehicles, widespread usage of advanced technology, and rigid road safety rules.
 

Further, strong demand for luxurious electric vehicles and surging production of advanced technology-based cars are adding momentum to Asia Pacific market progression.
 

Magna International Inc., Veoneer Inc., Hyundai Mobis, Valeo S.A., Aptiv plc, DENSO Corporation, ZF Friedrichschafen AG, Continental AG,and Robert Bosch GmbH are the major players  operating in  global advanced driver assistance system testing equipment market.