Advanced Driver Assistance Systems Market Poised for Substantial Growth, Forecasted to Surpass USD 118 Billion by 2032 | Report

The Advanced Driver Assistance Systems Market has witnessed significant growth in recent years, which is expected to continue, fueled by strict government regulations on vehicle safety and a growing demand for autonomous vehicles.

New York, April 12, 2023 (GLOBE NEWSWIRE) -- The Global Advanced Driver Assistance Systems Market size is expected to be worth around USD 118 Billion by 2032 from USD 32.9 Billion in 2023, growing at a CAGR of 14% during the forecast period from 2022 to 2032. The global Advanced Driver Assistance Systems (ADAS) market is a rapidly developing industry that includes various safety features and technologies designed to assist drivers in avoiding collisions and improving overall driving safety. These systems typically utilize sensors, cameras as well other technologies to detect potential hazards and issue alerts or take corrective actions automatically.

Today, there are numerous types of ADAS technologies available, each offering its advantages and capabilities. Adaptive Cruise Control  This technology utilizes radar or sensors to maintain a safe distance from vehicles ahead of you and can automatically adjust your speed according to the traffic flow. Lane Departure Warning technology detects when your vehicle is drifting out of its lane and provides an audible or visual alert to help keep you in your lane. Monitoring for Blind Spots Blind Spot monitoring technology uses radar or sensors to detect other vehicles in your blind spots and can send you an alert if changing lanes becomes unsafe. Forward Collision Warning This technology utilizes cameras otherwise sensors to detect when you're approaching another vehicle too quickly and can provide an alert to help avoid a potential collision. Automatic Emergency Braking This technology can automatically apply the brakes when it senses a collision is imminent, helping reduce or avoid its severity.

Advanced Driver Assistance Systems Market

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Key Takeaway:

  • By solution, in 2022, Tire Pressure Monitoring Systems dominate the market with a 29% market share. due to its increased usage.
  • By Component System, the Sensor segment dominated the advanced driver assistance systems market with a 49% market share.
  • By vehicle type, Passenger cars dominated the Advanced Driver Assistance Systems Market with a 59% market share.
  • In 2022, The largest share of the market will be dominated by North America with 35% of the market share owing to the high adoption rate of advanced technology
  • APAC is expected to grow led by countries like China, Japan, and South Korea. Rising disposable income levels, an increasing desire for luxury vehicles, and supportive government regulations are some of the primary factors propelling this expansion.

Factors affecting the growth of the advanced driver assistance systems market industry

Several factors can have an impact on the growth of the advanced driver assistance systems market industry. Some of these factors include:

  • Technological Advancements: The development of cutting-edge technologies such as LiDAR, radar, and camera-based systems has significantly enhanced ADAS performance and allowed their widespread application across various vehicles.
  • Increased Demand for Safer and Efficient Vehicles: Consumers are becoming more aware of the significance of safety features in vehicles, and ADAS technologies like automatic emergency braking, lane departure warning, and adaptive cruise control are becoming more popular.
  • Government Regulations: Governments around the world are enforcing regulations that require automakers to install certain safety features in vehicles, leading to the adoption of ADAS technologies.
  • The growing trend towards autonomous driving: As more autonomous vehicles hit the road, demand for advanced driver assistance systems (ADAS) has grown significantly, they play a pivotal role in enabling this new mode of driving.
  • Cost Reduction: As the production of ADAS technologies grows, manufacturing costs are expected to decrease, making them more accessible and affordable for consumers.
  • Partnerships and Collaborations: Major players in the automotive industry are joining forces with technology firms to expedite the development and deployment of ADAS technologies. These alliances are expected to propel growth for this market over the coming years.

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Market Growth

The Advanced Driver Assistance Systems (ADAS) market has seen tremendous growth over the last several years and this trend is forecast to continue. ADAS refers to a collection of safety features and technologies designed to aid drivers in avoiding collisions and accidents. One of the primary drivers of growth in the ADAS market is an increasing need for safer and more efficient vehicles. Furthermore, governments around the world are implementing stricter safety regulations, prompting automakers to implement ADAS technologies to meet these demands. Another factor fueling the growth of the ADAS market is the growing popularity of electric vehicles (EVs). Many EVs come equipped with advanced driver assistance systems as standard equipment, further encouraging consumers to adopt these technologies. Regarding specific ADAS technologies, the market for lane departure warning systems, blind spot detection systems as well adaptive cruise control systems is predicted to experience strong growth over the coming years.

Regional Analysis

The largest share in the market will be dominated by North America with 35% of the market share owing to the high adoption rate of advanced technology. The United States leading this region's market. The high adoption rate of advanced technology, rising demand for safety features, as well favorable government regulations are some of the primary factors propelling growth in this region.

The Asia-Pacific region is experiencing rapid growth in the ADAS market, led by countries like China, Japan, and South Korea. Rising disposable income levels, an increasing desire for luxury vehicles, and supportive government regulations are some of the primary factors propelling this expansion. Europe is a major market for ADAS, driven by major automotive manufacturers and increased awareness regarding vehicle safety. Strict government regulations regarding safety as well as an increasing demand for autonomous vehicles are two factors driving growth in this region.

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Scope of the Report

Report AttributeDetails
Market Value (2022)USD 32.9 Billion
Market Size (2032)USD 118 Billion
CAGR (from 2023 to 2032)14%
North America Revenue Share35%
Historic Period2016 to 2022
Base Year2022
Forecast Year2023 to 2032

Market Drivers

Consumer demand for automobiles with ADAS technology has increased since it provides improved safety features including collision avoidance, lane departure warning, and pedestrian recognition. Governments all over the world are increasingly enacting laws and orders to increase traffic safety. For instance, by 2022, all new cars sold in Europe must be fitted with advanced driving-assistance systems (ADASs), which include autonomous emergency braking, lane departure warning, and driver drowsiness detection. More complex ADAS capabilities have been made possible by modern sensor technology like radar, lidar, and cameras. These sensors can recognize and react to things on the road, allowing vehicles to make immediate corrections.

Market Restraints

ADAS technology may not be widely used by price-sensitive consumers because of its low cost, especially in emerging economies. Integration of parts from many manufacturers into an effective system might be difficult due to the lack of common standards in ADAS technology. These networks are also increasingly susceptible to cyber attacks as they become more linked. The entire system might be brought down by a single security failure, endangering users including drivers and passengers. The usage of ADAS technology is closely governed by legislation in many nations; manufacturers are required to abide by these regulations, which could delay the development and implementation of ADAS systems.

Market Opportunities

The global Advanced Driver Assistance Systems (ADAS) market is predicted to enjoy considerable expansion in the future years due to many factors. By giving drivers real-time information about their surroundings and potential hazards, ADAS technologies are intended to increase vehicle safety and decrease accidents. As the automotive industry continues to prioritize safety, ADAS features are becoming increasingly popular and widely adopted. Government regulations and safety standards are among the key factors driving the ADAS market. Many nations have put into place laws and rules requiring the installation of specific safety features in new cars. The need for ADAS technologies has grown as a result of automakers' efforts to meet these regulations. The introduction of autonomous vehicles is another element boosting the demand for ADAS. As self-driving technology progresses, ADAS features will become increasingly more significant, as they will play a crucial role in assuring the safety and reliability of autonomous cars. Also, as electric and hybrid vehicles are becoming more and more popular, demand for ADAS features is anticipated to rise. This is because these vehicles frequently handle differently than conventional gasoline-powered vehicles.

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Report Segmentation of the advanced driver assistance systems market

Solution Insight

Based on the solution, Tire Pressure Monitoring Systems dominate the market with a 29% market share. The Tire Pressure Monitoring System is an advanced driver assistance system that continuously checks the air pressure in vehicle tires and alerts drivers if it drops below a preset level. By making sure tires are inflated properly, fuel efficiency, tire life extension, and increased safety on the road can all be enhanced.  There are two types of TPMS direct and indirect. Direct TPMS uses pressure sensors located within each tire to monitor air pressure, while indirect TPMS relies on wheel speed sensors of the anti-lock braking system to detect changes in tire diameter due to underinflation. Direct TPMS is more precise and dependable than indirect TPMS. When the tire pressure monitoring system (TPMS) detects that tire pressure has fallen below a specified threshold, it illuminates an alert light on the dashboard. Some TPMS systems also provide information regarding which tire is underinflated and its exact pressure.

Adaptive cruise control is also a significant segment in the advanced driver assistance systems market. driver assistance system that uses radar or cameras to maintain an appropriate following distance from the vehicle in front of it. It has become increasingly popular in modern vehicles due to its potential improvements to safety and reduction of driver fatigue. ACC is not a fully autonomous driving system and still requires the driver to pay attention and be prepared to take control of their vehicle at any moment. It may have difficulty in certain conditions such as heavy rain or snowfall or when road markings are unclear.

Component Insight

By Component System, The market was segmented into processor, sensor, and software. The sensor segment was divided into radar, ultrasonic, and lidar. The sensor segment dominated the advanced driver assistance systems market with a 49% market share. Radar sensors use radio waves to detect objects in a vehicle's environment and are utilized in applications such as adaptive cruise control, collision avoidance systems, and blind spot detection. Lidar sensors use laser light to generate a 3D map of the vehicle's environment. They are widely used in applications like autonomous driving and collision avoidance systems. Ultrasonic sensors use high-frequency sound waves to detect objects close to a vehicle, such as parking assistance and blind spot detection.

Over the forecast period, the software segment is anticipated to grow at a CAGR of 17%. To identify the entire environment around the car and take immediate action to ensure the driver's safety, ADAS software collects as well as verifies data from all sensors. Based on an examination of traffic participation, traffic density, and anticipated traffic circumstances, several steps may be taken.

Vehicle Type Insight

Based on vehicle type, Passenger Cars dominated the advanced driver assistance systems market with a 59% market share. The ADAS industry is anticipated to be dominated by passenger cars. The development of ADAS in passenger cars is being fueled by the rising demand for safety.

The commercial vehicles industry is also anticipated to grow. The introduction of ADAS in commercial vehicles is being driven by the need for improved safety features, fuel efficiency, and regulatory compliance features in vehicles as well as the expanding use of electrified and autonomous vehicles. In commercial vehicles, there is the heavy vehicle which is another major category in the ADAS market. To increase safety and lower accidents, big trucks are adopting ADAS technology such as collision avoidance systems, lane departure warning systems, and blind spot detection systems more frequently. The market for ADAS is also anticipated to include a sizable section for buses. The implementation of ADAS in buses is being driven by the rise in demand for public transportation as well as the requirement for better safety features.

Recent Development of the Advanced Driver Assistance System Market

  • In August 2021: When Morris Garage's new SUV Gloster was launched it featured the newest ADAS features based on predictive technology, such as automatic emergency braking, automatic parking assistance, blind spot recognition, frontal collision warning, and lane departure warning.
  • In July 2021: Magna International Inc. purchased Veoneer, a pioneer in automobile safety technology, to bolster and diversify its ADAS portfolio and competitive position.

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Market Segmentation

Based on Solution

  • Adaptive Cruise Control
  • Blind Spot Detection System
  • Park Assistance
  • Lane Departure Warning System
  • Tire Pressure Monitoring System
  • Autonomous Emergency Braking
  • Adaptive Front Lights
  • Other Solution

Based on the Component

  • Processor
  • Sensors
    • Radar
    • Ultrasonic
    • LiDAR
    • Others
  • Software

Based on Vehicle Type

  • Passenger car
  • Commercial vehicle
    •  Light commercial vehicle
    •  Heavy commercial vehicle

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Competitive Landscape

To grow their market presence and achieve a competitive advantage, these enterprises are focussing on geographic expansions and the introduction of new products. Also, these programs aid in raising users' awareness of the need for safe driving. The companies are also focusing on establishing numerous strategic initiatives, mergers, and acquisitions, agreements and contracts, as well as collaborations to increase their market positions.

Some of the major players include:

  • Robert Bosch GmbH
  • Continental AG
  • Autoliv Inc
  • Lear Corporation
  • Texas Instruments Incorporated
  • Renesas Electronics Corporation
  • HELLA GmbH & Co KG
  • Visteon Corporation
  • ST Microelectronics
  • Infineon Technologies AG
  • Mitsubishi Electric Corporation
  • Panasonic Corporation
  • MAXIM Integrated
  • Other Key Players

Browse More Related Reports:

  • Automated Parking System (APS) market was valued at US$ 1.8 Billion in 2021 and is expected to grow to US$ 5.2 Billion in 2032. Between 2023 and 2032, this market is estimated to register a CAGR of 11.4%.
  • Blind spot alert system market was valued at USD 7.1 Billion and is expected to reach around USD 21 billion in 2032. Between 2023 and 2032, this market is estimated to register a CAGR of 11.7%.
  • Adaptive Cruise Control System Market was valued at USD 34.7 Billion in 2022 and is expected to grow to USD 65 Billion. Between 2023 and 2032, this market is estimated to register a CAGR of 6.6%.
  • Collision Avoidance Sensor Market size is expected to be worth around USD 15.1 Billion by 2032 from USD 5.05 Billion in 2022, growing at a CAGR of 11.90% during the forecast period from 2023 to 2032.

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