Dublin, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The "Advanced Driver Assistance Systems Market By Solution Type, By Component, By Vehicle Type, By Region, Segments & Forecast, 2023 - 2032" report has been added to ResearchAndMarkets.com's offering.
The global Advanced Driver Assistance Systems (ADAS) market is projected to grow significantly, reaching a value of $74.62 billion by 2032.
ADAS employs a variety of advanced technologies including sensors, cameras, radar, and more to enhance vehicle safety and driving experiences.
By monitoring the vehicle's surroundings, detecting potential hazards, and offering warnings or corrective actions, ADAS plays a vital role in preventing accidents and minimizing their impact. Key features of ADAS include collision avoidance, lane-keeping assistance, adaptive cruise control, and parking assistance.
Factors Driving ADAS Growth:
- Technological Advancements: The rapid progress in technology, including sensors, cameras, radar systems, and computing power, has enabled the development of advanced ADAS functionalities. Machine learning and artificial intelligence further enhance ADAS capabilities by enabling real-time analysis and decision-making based on sensor data.
- Safety Regulations: Increasing safety regulations, both government-imposed and consumer-driven, are pushing for the adoption of ADAS. These systems align with the goal of reducing accidents and enhancing road safety.
- Consumer Demand: Consumer demand for improved driving experiences, convenience, and safety features is driving the integration of ADAS in vehicles. As consumer awareness grows, ADAS is becoming a standard feature in modern vehicles.
- Electric and Autonomous Vehicles: The rise of electric and autonomous vehicles has boosted ADAS adoption. These vehicles rely on advanced technologies for self-driving capabilities and safety enhancements.
ADAS Market Insights:
- Passenger Cars: Passenger cars, including various types such as sedans, SUVs, vans, and more, will dominate the ADAS market due to the growing demand for safer and more comfortable vehicles.
- Household Segment: The household segment holds a significant market share due to factors like increased consumption at home, convenience, personal preferences, and social entertainment.
- Lidar Segment: Lidar technology is expected to contribute significantly to the revenue share due to consumer preferences and choices.
- APAC Growth: The Asia-Pacific region is projected to experience substantial growth due to increasing demand for safe and convenient driving experiences, rising disposable income, and strict safety regulations.
- North America: North America holds the highest market share due to technological advancements in the automotive industry.
Key Players:
Global players in the ADAS market include Aisin Seiki Co. Ltd., Autoliv Inc., Continental AG, Delphi Automotive Company, DENSO Corporation, Harman International Industries, and Hitachi Ltd.
Market Dynamics:
Drivers and Opportunities:
- Increasing demand for ADAS in the automotive industry.
- Technological advancements enhancing ADAS capabilities.
Restraints and Challenges:
- High initial costs and complex structures can hinder adoption.
Segmentation and Companies Mentioned:
The market report is segmented based on solution, component, vehicle type, and region. Notable companies mentioned in the report include Aisin Seiki Co. Ltd., Autoliv Inc., Continental AG, Delphi Automotive Company, DENSO Corporation, Harman International Industries, and Hitachi Ltd.
Solution Outlook:
- Adaptive Cruise Control
- Blind Spot Detection System
- Park Assistance
- Lane Departure Warning System
- Tire Pressure Monitoring System
- Autonomous Emergency Braking
- Adaptive Front Lights
- Others
Component Outlook:
- Sensors
- Radar
- Ultrasonic
- LiDAR
- Others
- Processors
- Software
- Others
Vehicle Type Outlook:
- Passenger Vehicles
- Commercial Vehicles
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 116 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $33 billion |
| Forecasted Market Value (USD) by 2032 | $74.62 billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/37v7wg
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