Frost & Sullivan Sees High Growth Opportunities in South Korea's Advanced Driver Assistance Systems

Frost & Sullivan Sees High Growth Opportunities in South Korea's Advanced Driver Assistance Systems PR Newswire SEOUL, South Korea, September 4, 2012 ~ Revenues seen reaching US$509.6 million by 2018; Shipments to grow at CAGR of 50% SEOUL, South Korea, September 4, 2012 /PRNewswire/ -- The advanced driver assistance systems (ADAS) revenues in South Korea is expected to reach US$509.6 million by 2018 from US$27.6 million in 2011, predicts Frost & Sullivan. Ms. Samjeen Yun, Industry Analyst, Automotive & Transportation Practice, Asia Pacific at Frost & Sullivan said that the penetration rate of ADAS in South Korea is expected to increase to 75.7 per cent in 2018 as compared to a mere 4.8 per cent in 2011. New analysis from Frost & Sullivan (http://www.automotive.frost.com) Analysis of the Advanced Driver Assistance Systems (ADAS) Market in South Korea finds that ADAS' unit shipments are expected to grow at a compound annual growth rate (CAGR) of 50 per cent to 1 million units in 2018 as systems price go down and consumers become aware of the benefits such as avoiding accidents in addition to minimizing the post-crash effects. Ms. Yun said that lane departure warning systems is the most popular ADAS in South Korea with more than 40 per cent market share in 2011, followed by smart parking assistance systems at 33.7 per cent and adaptive cruise control system at more than 25 per cent.