By Jenny Galvan
SEMA’s Advanced Vehicle Technology Opportunity Study covers the retrofit opportunities for Advanced Driver Assistance Systems (ADAS) and Connected Vehicle Technologies (CVT).
While technologies such as Advanced Driver Assistance Systems (ADAS) and Connected Vehicle Technologies (CVT) are becoming common on new vehicles, SEMA developed the Advanced Vehicle Technology Opportunity Study to help members produce and sell these products for vehicles not originally equipped with the technology. The study can be used as a resource to guide product and service planning and entry strategies into a burgeoning market.
The developing growth potential for this market is predicted to increase from $977 million to $1.5 billion between now and 2021—a 9.1% annual compound growth rate. With the technological changes happening in the automotive market, these systems represent a significant new opportunity developing in the marketplace.
Visit www.sema.org/market-research to see all of the reports and studies available.