While identifying multiple growth opportunities for the specialty-equipment industry, the recently released “SEMA Advanced Vehicle Technology Opportunities Report” (see p. 114) also forecasts a significant evolution of supply, sales and marketing channels for advanced driver assistance systems (ADAS) over the next decade. To better understand the changing dynamics of the ADAS aftermarket, SEMA News turned to SEMA Vice President of Vehicle Technology John Waraniak.
SEMA research indicates that the U.S. aftermarket for advanced driver assistance systems (ADAS) and connected vehicle technologies (CVT), although still in its infancy, can be expected to grow into a $1.5 billion industry within the next five years. With so much at stake in these rapidly emerging technologies, SEMA has made identifying ADAS/CVT opportunities for association members a key priority.
Among the most popular destinations at the SEMA Show, Hot Rod Alley is home to exhibitors who design and manufacture products intended to add reliability, performance and comfort to American classics. The hot-rod niche has seen significant growth in recent years, and it’s currently estimated to be a $1.26-billion industry, according to the Hot Rod Industry Alliance’s “2017 Biannual Report.” Gauging by the number of Hot Rod Alley exhibitors honored in the 2017 Global Media Awards, it’s also a category that’s gaining momentum worldwide.
While pursuing his biochemistry degree, car enthusiast Tyler Copenhaver worked his way through Arizona State University by part-time bartending and scavenging, restoring and reselling classic cars. When his Scottsdale neighbors complained about the “heaps” in his driveway, he found commercial space in Phoenix. He soon noted a gap in the customizing market: a one-stop shop that would eliminate the need to tow a project car from tire shop to body shop to engine builder to whatever else was required.
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SEMA research indicates that the U.S. aftermarket for advanced driver assistance systems (ADAS) and connected vehicle technologies (CVT), although still in its infancy, can be expected to grow into a $1.5 billion industry within the next five years. With so much at stake in these rapidly emerging technologies, SEMA has made identifying ADAS/CVT opportunities for association members a key priority.
While identifying multiple growth opportunities for the specialty-equipment industry, the recently released “SEMA Advanced Vehicle Technology Opportunities Report” (see p. 172) also introduces readers to a range of emerging technologies. To better understand active versus passive advanced driver-assistance systems (ADAS)—and why the latter holds the most aftermarket promise—SEMA News turned to SEMA Vice President of Vehicle Technology John Waraniak.
As customers enter the front door, a peaceful chime echoes through the shop. There is a meticulous order to every product display, and yet the store feels quaint and inviting. And as the chime fades, a warm inquisitive voice asks, “What brings you in today, friend?”
SEMA research indicates that the U.S. aftermarket for advanced driver assistance systems (ADAS) and connected vehicle technologies (CVT) can be expected to grow into a $1.5 billion industry within the next five years, even though the emerging segment is still in its infancy. The impact of these new systems can’t be overstated. Hard as it may be to imagine, they will eventually affect virtually everything from wheel and tire modifications and vehicle electronics tweaks to the addition of custom bumpers, running boards, grilles and other hard parts.
It’s no secret that off-roading—especially Jeeping—drives one of the specialty-equipment industry’s largest segments. With roots to the post-World-War-II era when returning servicemen began discovering American backroads with their trusted surplus Jeeps, the off-road category remains a wildly diverse playground for specialty-equipment parts, accessories and lifestyle products. What’s more, Jeeping and recreational off-roading have spread to emerging international markets in the last decade, notably China and the Middle East. The mainstreaming of off-road motorsports is in part responsible for this vigorous segment’s growth, but the real race nowadays is among OEMs to win the attention of consumers who have never blazed a trail but would like to.
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