New York, United States , Dec. 08, 2023 (GLOBE NEWSWIRE) -- The Advanced Driver Assistance Systems (ADAS) Market Size is to grow from USD 31.2 Billion in 2022 to USD 75.7 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.2% during the projected period.
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Advanced driver assistance systems (ADAS) are a type of electronic component found in automobiles that helps the driver drive more safely. Among these systems are laser, infrared, radar, image, ultrasonic, LiDAR, and image sensors. The rising need for safer driving conditions increases customer demand for an aided driving system, which propels the ADAS industry forward. Government regulations and increased demand from consumers for passenger safety will fuel market growth. Increased traffic accidents lead to increased traffic congestion and unintended deaths. Many surveys and analyses undertaken by traffic departments in several nations found that the majority of accidents were caused by driver irresponsibility and errors. Furthermore, in order to obtain vehicle authorization, automakers must follow regulations and obtain safety ratings from organizations such as the New Car Assessment Program (NCAP), the Insurance Institute of Highway Safety (IIHS), and the International Centre for Automotive Technology (ICAT). Market growth may be restricted by malfunctioning and high initial costs. Despite the rising demand in the automotive industry for smart driver assistance systems, manufacturers are modernizing their business models by extensively investing in ADAS technology to meet technological needs.
COVID-19 Impact
With reduced overall automobile sales caused a short-term decline in market growth during the COVID-19 pandemic. The COVID-19 caused supply chain disruptions and a pause in car manufacturing, essentially stopping the automobile industry. The production industry and labor were impacted by government strike measures. While many computer companies were able to maintain operations through remote work, car manufacturing, and associated industries were unable to do so.
Browse key industry insights spread across 200 pages with 150 market data tables and figures & charts from the report on "Global Advanced Driver Assistance Systems (ADAS) Market Size, Share, and COVID-19 Impact Analysis, By System Type (Adaptive Cruise Control, Blind Spot Detection, Park Assist, Lane Departure Warning System, Autonomous Emergency Braking, Forward Collision Warning, Tire Pressure Monitoring, Head-Up Display, Intelligent Headlights, E-Call System, Others), By Component Type (LiDAR, Radar, Camera, Sensors, Others), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The autonomous emergency braking (AEB) segment dominates the market with the largest revenue share over the forecast period.
On the basis of system type, the global advanced driver assistance systems (ADAS) market is segmented into adaptive cruise control, blind spot detection, park assist, lane departure warning system, autonomous emergency braking (AEB), forward collision warning, tire pressure monitoring, head-up display, intelligent headlights, forward collision warning, e-call system, and others. The autonomous emergency braking (AEB) segment holds the largest market during forecast period. This system is in charge of slowing or stopping a vehicle before impact in order to avoid a collision by using the brakes automatically. The global lane departure warning system market ranks second. By keeping the vehicle in its lane, this technology assists the driver.
The sensor segment is witnessing significant CAGR growth over the forecast period.
On the basis of component type, the global advanced driver assistance systems (ADAS) market is segmented into LiDAR, radar, camera, sensors, and others. Among these, the sensor to hold the fastest CAGR growth over the forecast period. owed to growing safety awareness and increasing the incidence of accidents. Additionally, rising accident rates and increased safety awareness are major market drivers, leading to increased demand for radar sensors. In this industry, the sensor category is predicted to grow significantly. Continuous data inputs from sensors in the surrounding vehicle are required for ADAS and automated vehicle operations.
The passenger car segment is expected to hold the rapid revenue growth of the global advanced driver assistance systems (ADAS) market during the forecast period.
Based on the vehicle type, the global advanced driver assistance systems (ADAS) market is classified into passenger car, light commercial vehicle, and heavy commercial vehicle. Among these, the passenger car segment is expected to grow at a rapid pace during the forecast period. owing to the increased need for sophisticated safety systems and vehicle electrification. Greater urbanization, industrialization, and rising disposable incomes have resulted in increased automotive sales and manufacturing around the world. Furthermore, governments are heavily investing in the development of advanced vehicle technologies. The growing demand for passenger vehicles with improved safety, comfort, and efficiency is propelling the market for advanced driver assistance systems forward.
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Asia Pacific dominates the market with the largest market share over the forecast period.
uring the projection period, the Asia Pacific market is expected to have the greatest market share. Asia Pacific is predicted to hold the largest market share due to the region's strong vehicle sales and manufacturing, as well as a significant increase in the adoption of electric vehicles in China and Japan. Automotive OEMs want to boost production volume and accelerate technological developments in manufacturing facilities in emerging markets such as China and India. Furthermore, authorities are eager to impose ADAS technology in new vehicles. During the projected period, North America is expected to grow the fastest. The presence of major automobile manufacturing companies, as well as the growing adoption of innovative driver-aid systems in automobiles, is propelling market growth in this field. In the United States, regulators are making specific efforts to incorporate ADAS as a safety standard by mandating ADAS features such as tire pressure monitoring systems (TPMS) and lane departure warning systems in newly launched vehicles. With the restricted government rules imposed to combat fuel pollution, the European market is projected to hold a substantial share.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Advanced Driver Assistance Systems (ADAS) Market include Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, DENSO CORPORATION, Aptiv PLC, Valeo SA, Magna International Inc., Aisin Seiki Co. Ltd, Autoliv Inc., GENTEX CORPORATION, Harman International, Hyundai Mobis, NXP Semiconductor, Mobileye, Panasonic Corporation, Renesas, Electronics Corporation and among others.
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Recent Market Developments
In April 2023, Robert Bosch, the 6G-ICAS4 mobility project was created by Robert Bosch GmbH in order to merge communication and radar systems into a single 6G system.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global advanced driver assistance systems (ADAS) market based on the below-mentioned segments:
Advanced Driver Assistance Systems (ADAS) Market, System Type Analysis
- Adaptive Cruise Control
- Blind Spot Detection
- Park Assist
- Lane Departure Warning System
- Autonomous Emergency Braking
- Forward Collision Warning
- Tire Pressure Monitoring
- Head-Up Display
- Intelligent Headlights
- Forward Collision Warning
- E-Call System
- Others
Advanced Driver Assistance Systems (ADAS) Market, Component Type Analysis
- LiDAR
- Radar
- Camera
- Sensors
- Others
Advanced Driver Assistance Systems (ADAS) Market, System Analysis
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Advanced Driver Assistance Systems (ADAS) Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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