Market Size of Latin America ADAS Industry
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2018 - 2020 |
| CAGR | 7.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America ADAS Market Analysis
The Latin America Advanced Driver Assistance Systems (ADAS) market is anticipated to register a CAGR of about 7.5 % during the forecast period (2020 - 2025).
- Advanced Driver Assistance Systems (ADAS) is an intelligent automotive system which provides information inside the vehicle to assist the driver variously. Such a system can provide information on road congestion levels, blockage, traffic, monitoring, braking, and other warnings. All this is mostly demanded by consumer interest and regulatory policies that help reduce accidents.
- Mexico and Brazil contribute the highest sales to the ADAS market in the Latin America region. However, most of the Latin American countries today are facing an economic downfall, which in turn impacting the growth of the automobile industry. As a result, ADAS technology is yet to make an impact in some regions.
- However, the age of autonomous cars due to the recent advancements in technology and tech-savvy modern demands for drivers as well as passengers will be the main driving factor. RADAR, LiDAR, and Cameras are the largest segment manufactured in the Latin America region. Of all the three, LiDAR sensors have the largest market. It can scan an area in 3-D to produce high-resolution maps of the surrounding locations.
