As per the report by Visiongain, the Global Automotive Advanced Driver Assistance Systems (ADAS) Market was valued at US$25.87 billion in 2022 and is projected to grow at a CAGR of 14.8% during the forecast period 2023-2033.
Visiongain has published a new report entitled Automotive Advanced Driver Assistance Systems (ADAS) 2023-2033. It includes profiles of Automotive Advanced Driver Assistance Systems (ADAS) and Forecasts Market Segment by (Offering, Hardware, Software) Market Segment by (Vehicle Type, Passenger Cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)) Market Segment by Component (Camera Unit, LiDAR, Radar, Ultrasonic Sensor) Market Segment by Level of Autonomy (Autonomy-L1, Autonomy-L2, Autonomy-L3, Autonomy-L4, Autonomy-L5) Market Segment by Type (Adaptive Cruise Control (ACC), Lane Departure Warning (LDW), Blind Spot Detection (BSD), Forward Collision Warning (FCW), Automatic Emergency Braking (AEB), Other Type) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
Collaborations and Partnerships Among Automotive Manufacturers and Technology Providers for Development of ADAS Solutions
Collaborations and partnerships among automotive manufacturers and technology providers are playing a crucial role in driving the growth of the automotive advanced driver assistance systems (ADAS) market. Automotive manufacturers and technology providers bring different skill sets to the table. By collaborating, they can combine their expertise to develop more advanced and reliable ADAS solutions. For example, automotive manufacturers have in-depth knowledge of vehicle design and safety regulations, while technology providers bring expertise in sensors, software, and AI algorithms.
Developing ADAS solutions can be a costly endeavour. By collaborating, automotive manufacturers and technology providers can share the costs of research and development, making it more cost-effective for both parties. This can lead to the development of more affordable ADAS solutions for consumers.
Collaborations and partnerships can also help accelerate the development of ADAS solutions. By working together, automotive manufacturers and technology providers can leverage each other's resources and bring ADAS solutions to market more quickly.
Some examples of collaborations and partnerships in the ADAS market include the partnership between Intel and Mobileye to develop autonomous driving technology, the collaboration between BMW, Intel, and Mobileye to develop the BMW iNEXT, and the partnership between Volvo and NVIDIA to develop advanced AI-powered ADAS systems.
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How has COVID-19 had a significant negative impact on the Automotive Advanced Driver Assistance Systems (ADAS) Market?
The COVID-19 pandemic has had a significant impact on the ADAS market, with both positive and negative effects, depending on the specific segment and region.
One negative impact of the pandemic has been production delays caused by disruptions in the supply chain. These delays have affected the growth of the ADAS market. Additionally, reduced consumer demand for new vehicles due to the economic downturn caused by the pandemic has resulted in a reduction in demand for ADAS systems.
However, the pandemic has also brought a renewed focus on safety, which has led to increased interest in ADAS systems. For example, with more people staying at home and relying on delivery services, the demand for commercial vehicles has increased. This has led to an increased interest in ADAS systems for these vehicles, as companies look for ways to improve the safety of their drivers and customers.
Furthermore, the pandemic has also accelerated the trend of remote work and virtual meetings. As a result, the demand for in-car connectivity and infotainment systems has increased. This has created new opportunities for ADAS providers to offer systems that integrate with these technologies, such as voice recognition and gesture control.
In summary, while the pandemic has presented challenges for the ADAS market, it has also created new opportunities for growth and innovation in response to changing consumer needs and trends.
How will this Report Benefit you?
Visiongain’s 361-page report provides 128 tables and 204 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global automotive advanced driver assistance systems (ADAS) market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Automotive Advanced Driver Assistance Systems (ADAS). Get financial analysis of the overall market and different segments including type, offerings, level of autonomy, and component, capture higher market share. We believe that there are strong opportunities in this fast-growing automotive advanced driver assistance systems (ADAS) market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Increasing Adoption of Connected Car Technologies and IoT in Automotive Industry
The automotive industry is experiencing a significant shift towards the adoption of connected car technologies and the Internet of Things (IoT). Connected car technologies refer to features that enable vehicles to communicate with other vehicles, infrastructure, and the cloud. The IoT refers to the network of devices and objects that are connected to the internet and can exchange data. Connected car technologies and IoT can help improve vehicle safety by providing real-time information about road conditions, traffic, and potential hazards. This information can help drivers make better decisions and avoid accidents.
Connected car technologies and IoT can provide drivers with access to a range of services, including entertainment, navigation, and remote diagnostics. This can enhance the driving experience and make it more convenient and enjoyable. Connected car technologies and IoT can help optimize vehicle performance and reduce fuel consumption. For example, sensors can be used to monitor vehicle components and predict when maintenance is required, reducing downtime and improving efficiency.
Growing Trend of Autonomous Vehicles and Integration of ADAS Features in Them
The automotive industry is seeing a growing trend towards autonomous vehicles, which are vehicles that can operate without human intervention. One of the key enablers of autonomous vehicles is the integration of advanced driver assistance systems (ADAS) features, which use sensors and software to help vehicles operate more safely and efficiently.
Many of the leading automotive manufacturers are investing heavily in autonomous vehicle technology and ADAS features. For example, Tesla has been a pioneer in the development of autonomous driving features, such as its Autopilot system, which uses cameras and radar sensors to detect and avoid obstacles. Other manufacturers, such as General Motors, Ford, and Toyota, are also investing in autonomous vehicle technology, with the goal of developing fully self-driving cars in the coming years.
The integration of ADAS features in autonomous vehicles is seen as a critical step towards achieving fully autonomous driving. These features can help to improve vehicle safety and reduce the risk of accidents, while also enhancing the overall driving experience for users. For example, features such as lane departure warnings, adaptive cruise control, and automatic emergency braking can all help to prevent accidents and reduce the need for human intervention.
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Increasing Demand for Safer and More Advanced Driving Experiences
The increasing demand for safer and more advanced driving experiences is being driven by several factors, including a growing awareness of the importance of safety on the roads and a desire for more convenient and comfortable driving experiences.
One of the key drivers of this trend is the increasing availability of advanced driver assistance systems (ADAS) technologies in vehicles. These systems use a range of sensors and algorithms to help drivers avoid accidents and improve their overall driving experience.
For example, features such as adaptive cruise control, lane departure warning, and automatic emergency braking can help drivers to avoid collisions and reduce the risk of injury or death in the event of an accident. Other features, such as blind spot detection, parking assistance, and rearview cameras, can help drivers to manoeuvre their vehicles safely and with greater ease.
The rise of electric vehicles has also contributed to the demand for more advanced features that can help to improve range and efficiency. For example, predictive energy management systems can use data from sensors and other sources to optimize energy usage and improve the overall performance of the vehicle.
Expansion of ADAS Technology into New Vehicle Segments, Such as Commercial Vehicles and Two-Wheelers
The adoption of ADAS technology has primarily been in passenger cars, but there is a growing trend towards expanding the use of ADAS into other vehicle segments such as commercial vehicles and two-wheelers. Commercial vehicles, such as trucks and buses, are being equipped with ADAS technology to improve safety and efficiency on the roads. For example, ADAS systems can help prevent accidents by providing warnings to drivers when they are getting too close to other vehicles, or when they are about to change lanes.
Similarly, ADAS technology is also being introduced in two-wheelers, such as motorcycles and scooters, to improve safety for riders. These systems can help prevent accidents by providing warnings to riders when they are getting too close to other vehicles or obstacles, or when they are about to make a turn or change lanes.
The expansion of ADAS technology into new vehicle segments presents a significant opportunity for the growth of the ADAS market. As more commercial vehicles and two-wheelers are equipped with ADAS systems, the demand for these technologies is likely to increase, leading to further innovation and development in the industry.
Competitive Landscape
The major players operating in the automotive advanced driver assistance systems (ADAS) market are Autoliv Inc., Continental AG, Intel Corporation, Magna International Inc., Microsemi Corporation, Nvidia Corporation, NXP Semiconductors N.V., Panasonic Holdings Corporation, Renesas Electronics Corporation, Robert Bosch GmbH, Samsung Electronics Co., Ltd., Texas Instruments Incorporated, Valeo S.A., Xilinx, Inc., and ZF Friedrichshafen AG. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
- 16 Feb 2023, NXP Semiconductors has introduced what it calls a "new industry-first" 28nm RFCMOS radar one-chip IC family for next generation ADAS and autonomous driving systems. The new SAF85xx one-chip family integrates NXP's high performance radar sensing and processing technologies into a single device, providing tier one and OEMs with new flexibility in addressing short, medium, and long range radar applications to meet increasingly stringent NCAP safety requirements.
- 05 Jan 2023, Continental has entered into a strategic partnership with Ambarella, Inc., an edge AI semiconductor company. On the path to autonomous mobility, the two companies will collaborate to develop scalable, end-to-end hardware and software solutions based on artificial intelligence (AI) for assisted and automated driving (AD. Ambarella's "CV3-AD" chip family outperforms other domain controller SoCs in terms of processing sensor data faster and more comprehensively for improved environmental perception and safer mobility, while also delivering up to five times the power efficiency.
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To find more Visiongain research reports on the Automotive sector, click on the following links:
- Vehicle to Grid (V2G) Market Report 2023-2033
- Battery Electric Vehicle (BEV) Market Report 2022-2032
- All-Terrain Vehicle Market Report 2022-2032
- Fuel Cell Electric Vehicle (FCEV) Market Report 2022-2032
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