ADAS Creating New Market Opportunities

SEMA News—February 2018

REQUIRED READING

By John Santos

ADAS Creating New Market Opportunities

As the market for Advanced Driver Assist Systems (ADAS) becomes more established, the demand to retrofit older vehicles with those systems will also increase, creating significant new opportunities for companies in the automotive specialty-equipment industry.

According to a SEMA-commissioned study, the aftermarket segment for ADAS features is currently valued at just under $1 billion and is expected to grow to more than $1.5 billion by 2021. ADAS is among the fastest-growing automotive segments in the industry, and its importance to the aftermarket was evident by the amount of media coverage it received at the 2017 SEMA Show, including from the publications listed below.

Wards Auto   Las Vegas Sun   Fender Bender
Wards Auto

Wards Auto ran a detailed piece on SEMA’s ADAS study and the opportunities the systems bring to the aftermarket industry. The article identified some of SEMA’s efforts to help members embrace and take advantage of the opportunities, and it highlighted a couple of the almost 100 ADAS-related exhibitors at the 2017 SEMA Show.
  Las Vegas Sun

In his 2017 SEMA Show preview article in the Las Vegas Sun, Mick Akers described how ADAS products were among the most anticipated at the Show. Akers identified the types of products that make up the ADAS segment and interviewed a representative from Thinkware, maker of dash cameras that can be used to monitor teenage and elderly drivers.
  FenderBender

In his 2017 SEMA Show preview article in the Las Vegas Sun, Mick Akers described how ADAS products were among the most anticipated at the Show. Akers identified the types of products that make up the ADAS segment and interviewed a representative from Thinkware, maker of dash cameras that can be used to monitor teenage and elderly drivers.
         
Heard in Social Media

“Power Acoustik debuts new Drive Alert system during 2017 The SEMA Show! #TorquedMag #TorquedNation #PowerAcoustik #SEMAShow #SEMA2017 #DriveAlert”—Torqued Magazine, via Facebook

“Many new cars can brake automatically to help avoid a collision! Learn more about advanced driver assistance
systems.”—AAA, via Twitter

“Aftermarket demand for ADAS to grow 9% per year—SEMA”—Tire Dealer News, via Twitter

“DriveAssist Premieres Upscale ADAS Lineup at SEMA 2017”—12 Volt News, via Twitter 
         
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