ADAS aftermarket expanding
The aftermarket industry for advanced driver assistance systems (ADAS) is currently valued at just under $1 billion and is expected to grow to more than $1.5 billion by 2021. This projection is according to a SEMA-commissioned study conducted by Ducker Worldwide and the Center for Automotive Research.
The report, titled “SEMA Advanced Vehicle Technology Opportunities,” provides predictive analysis of business opportunities for the specialty aftermarket. Details, including information on the critical factors impacting the automotive and performance aftermarket industry and how SEMA manufacturing and installer members can participate, will be outlined in a press conference, Wednesday, November 1, 2017, during the SEMA Show in Las Vegas. SEMA executives will highlight the products, market categories, and opportunities that are expected for the aftermarket in ADAS.
“ADAS is among the fastest-growing automotive segments today, and it presents a significant opportunity for aftermarket retrofitting and new vehicle upgrades,” said Chris Kersting, SEMA President and CEO. “We’re confident that the findings from the research report will be of interest to the industry and help members capture the opportunities ahead.”
All SEMA Show exhibitors and media are invited to the November 1 press conference. The report is scheduled to be available after the press conference at no cost to SEMA members. For more information, visit www.sema.org, www.semashow.com, or www.performanceracing.com.