Although the U.S. aftermarket for advanced driver assistance systems (ADAS) and connected vehicle technologies (CVT) is still in its infancy, SEMA research indicates it 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.
The diesel powertrain has always been a great necessity for the American driver but perhaps never garnered the love and recognition it truly deserves. Most appreciated for its functionality around the farm and on the jobsite, diesel is the fuel of choice for many fullsize trucks, utility vans and other heavy-duty work vehicles. But while many are quick to reserve the application of diesel power sources solely to those work vehicles, the market shows a thirst for more applications.
While identifying multiple growth opportunities for the specialty-equipment industry, the recently released “SEMA Advanced Vehicle Technology Opportunities Report” (see p. 124) predicts specific growth potential in the area of forward-collision warning (FCW) systems. To better understand this advanced driver assistance (ADAS) technology, SEMA News turned to SEMA Vice President of Vehicle Technology John Waraniak.
Within the off-roading segment, side-by-sides (aka UTVs) have emerged as popular second vehicles for Jeep and truck enthusiasts. Beyond this crossover market, a growing number of newbie buyers are also opting for UTVs as their first forays into outdoor and powersports recreation, thanks to the economical price of admission. Nowadays, a reasonably capable stock UTV can be had for as little as $11,000, and manufacturers have become fiercely competitive in the race to offer consumers a bevy of tough, agile, trail-ready side-by-sides.
Although still in its infancy, 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, according to SEMA research. 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. 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.
SEMA offers its 6,900-plus member companies a variety of business tools and resources to help their businesses succeed and prosper. Whether you are a manufacturer, retailer, jobber, distributor, rep or installer, SEMA is here to help you make smarter business decisions; be more strategic and targeted with your promotions; save money through group purchases; and network with key businesses and leaders in the industry. For the latest details on association benefits and upcoming activities, visit www.sema.org/benefits.
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