Luton, Bedfordshire, United Kingdom, March 09, 2023 (GLOBE NEWSWIRE) --
Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the ADAS Market.
The global ADAS Market size is estimated at USD 33.16 billion in 2022 and is projected to reach USD 100.82 billion by 2029, at a CAGR of 13.2% for the forecasted years 2023 to 2029.
The market for advanced driver assistance systems (ADAS), which consists of technologies aimed at enhancing car comfort, convenience, and safety, is expanding quickly. ADAS features use a combination of sensors, cameras, radar, and software to provide real-time environmental information and enhance the ability of the car and the driver to make decisions.
Rising awareness about vehicle safety ratings and reducing component costs due to wide application of camera and radars are major growth factors for the ADAS market. Prominent original equipment manufacturers are clinching ADAS solutions to achieve higher safety ratings to gain traction among consumers. Thus, the growing penetration of advanced driver assistance systems properties is surging the demand for components such as LiDAR, ultrasonic sensors, cameras, and radar sensors during the forecast time frame.
The global ADAS market is growing increasingly due to rising awareness about safety cars.
Click & Get Free Sample Report in Minutes: https://exactitudeconsultancy.com/reports/12941/adas-market/#request-a-sample
Driving Factors
One of the driving forces for ADAS market is the high-quality safety features in vehicles.
the increase in ADAS in vehicles is increasing worldwide. Also, the growing demand for premium and luxury cars is driving the market growth of ADAS (advanced driver assistance systems. Additionally, government initiative towards passenger safety and decreasing system and component costs is estimated to fuel the demand for ADAS market.
Rising awareness about vehicle safety ratings and reducing component costs due to wide application of camera and radars are major growth factors for the ADAS market. Prominent original equipment manufacturers are clinching ADAS solutions to achieve higher safety ratings to gain traction among consumers. Thus, the growing penetration of advanced driver assistance systems properties is surging the demand for components such as LiDAR, ultrasonic sensors, cameras, and radar sensors during the forecast timeframe.
Regional Opportunities-
North America region is expected to show higher market growth in the forecast period.
North America is the largest regional market of ADAS held the size of about 37 of overall market Advancement in technology is driving the ADAS market in north America. ADAS features are build considering safety of the driver so there is huge demand for ADAS in auto sector. More than 60 million US vehicles are fitted with ADAS technologies. Some shops have also started to see customers’ demands for aftermarket systems to be integrated in their vehicles.
Market Competition
- In January 2022, Aptiv PLC introduced a next-generation advance driver-assistance system (ADAS) for autonomous and electric vehicles, this will aid to reduce the cost of software driven vehicles due to Aptiv scalable architecture.
- In January 2022, ZF has launched a 360-degree protection system for commercial vehicle which will detect the hazards from front and rear side and shield the vehicle through dynamic control system. As of now, company is primarily targeting the united states market owing to high demand from commercial fleet operators.
ADAS Market Scope and Segmentation
| Report Feature | Details |
| Base Year: | 2022 |
| Projection Period: | 2023-2029 |
| Market Details: | Total revenue and forecast, CAGR, Market value, share, and Y-o-Y growth by segment and region |
| Segment Covered: | By Type, By Component Type, By Vehicle Type, By Regions |
| Regional and Country Scope | North America: includes the US, Canada, Mexico Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe South America: includes Brazil, Argentina and Rest of South America Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA |
| Largest market share | North America - 37%. |
| Market Players Covered | Magna International, Rensesas Electronics Corporation, Autoliv Inc, Nvidia Corporation, Robert Bosh Gmbh, NXP Semiconductors Texas Instruments In, Panasonic Hildings Corporation, Continental Ag, ZF Friedrichshafen AG. |
| ADAS Market Growth Drivers | Some of the key growth drivers include:
|
Browse Detailed Research Insights with TOC: https://exactitudeconsultancy.com/reports/12941/adas-market/
Key Market Segments: ADAS Market
ADAS market by Type, 2023-2029, (USD Billion), (Thousand Units)
- Tire Pressure
- Monitoring System
- Drowsiness Monitor System
- Intelligent Parking Assist System
- Blind Spot Object Detection System
- Lane Departure Warning System
- Adaptive Front-Lighting System
ADAS market by Component Type, 2023-2029, (USD Billion), (Thousand Units)
- Image Sensor
- Lidar Sensor
- Ultrasonic Sensor
- Infrared Sensor
- Radar Sensor
- Laser
ADAS market by Vehicle Type, 2023-2029, (USD Billion), (Thousand Units)
- Passenger Car
- Light Commercial Vehicle
- Buses and Trucks
Points cover in ADAS Market Research Report:
Chapter 1: Overview of ADAS Market (2023-2029)
Definition
Specifications
Classification
Applications
Regions
Chapter 2: Market Competition by Players/Suppliers 2023 and 2029
Manufacturing Cost Structure
Raw Material and Suppliers
Manufacturing Process
Industry Chain Structure
Chapter 3: Sales (Volume) and Revenue (Value) by Region (2023-2029)
Sales
Revenue and market share
Chapter 4, 5 and 6: Global ADAS Market by Type, Application & Players/Suppliers Profiles (2023-2029)
Market Share by Type & Application
Growth Rate by Type & Application
Drivers and Opportunities
Company Basic Information
Chapter 7, 8, and 9: Sourcing & Marketing Strategy Analysis
Key Raw Materials Analysis
Upstream Raw Materials Sourcing
Marketing Channel
Chapter 10 and 11: ADAS Market Effect Factors Analysis and Market Size (Value and Volume) Forecast (2023-2029)
Technology Progress/Risk
Sales Volume, Revenue Forecast (by Type, Application & Region)
Chapter 12, 13, 14 and 15: ADAS Market Research Findings and Conclusion, appendix and data source
Methodology/Research Approach
Data Source (Secondary Sources & Primary Sources)
Market Size Estimation
To know an additional revised 2023 list of market players, request a sample report: https://exactitudeconsultancy.com/reports/12941/adas-market/#request-a-sample
Browse More Research Topic on Automotive Sector:
Adaptive Cruise Control (ACC) Systems Market is expected to grow at 6.5% CAGR from 2023 to 2029. It is expected to reach above USD 54.99 billion by 2029.
Highway Drive-Assist Market is expected to grow at 24.6% CAGR from 2023 to 2029. It is expected to reach above USD 11.2 billion by 2029.
all-terrain vehicle market is projected to reach USD 14.61 billion by 2029 from USD 8.34 billion in 2022, at a CAGR of 6.1% from 2023 to 2029.
Vehicle battery thermal management system market is expected to grow at 20.4% CAGR from 2023 to 2029. It is expected to reach above USD 9.49 billion by 2029.
