[Latest] Global Advanced Driver Assistance Systems (ADAS) Market Size/Share Worth USD 48.37 Billion by 2028 at a 11.6% CAGR: Zion Market Research (Industrial Trends, Report, Analysis, Players, Outlook, Forecast, Growth, Value, Segmentation)

NEW YORK, United States, May 29, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Advanced Driver Assistance Systems (ADAS) Market By System (Tire Pressure Monitoring System (TPMS), Drowsiness Monitor System, Intelligent Parking Assist System (IPAS), Adaptive Cruise Control System, Blind Spot Object Detection System, Lane Departure Warning System, Adaptive Front-Lighting System, And Others), By Component (Camera Unit, LiDAR, Radar Sensor, Ultrasonic Sensor, And Infrared Sensor), And By Vehicle (Passenger Car, Light Commercial Vehicle, Buses, And Trucks): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020–2028” in its research database.

“According to the latest research study, the demand of global Advanced Driver Assistance Systems (ADAS) Market size & share in terms of revenue was valued at USD 20.74 billion in 2020 and it is expected to surpass around USD 48.37 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 11.6% during the forecast period 2021 to 2028.”

What is Advanced Driver Assistance Systems (ADAS)? How big is the Advanced Driver Assistance Systems (ADAS) Industry?

Report Overview:

The acronym ADAS refers to advanced driver assistance systems, which are electronic systems that are built into vehicles to provide assistance to drivers in a variety of tasks, including driving and parking the vehicle. Automated technology such as sensors, detectors, and high-resolution cameras are utilized in ADAS systems. These technologies monitor the surrounding environment and roadways in order to take appropriate action. Inputs from a variety of data sources, such as LiDAR, automotive imaging, image processing, in-car networking, and computer vision, are necessary for ADAS to function properly. Accidents on the road have been reduced because to the ADAS systems, which have also helped save lives and prevent damage to vehicles.

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Global Advanced Driver Assistance Systems (ADAS) Market: Growth Factors

Road traffic accidents are responsible for the deaths of approximately 1.3 million persons every year across the world. For the purpose of preventing accidents and saving lives, national governments are devoting enormous sums of money to the development of cutting-edge technology that incorporate improved precautionary measures. One of the key growth causes for the ADAS industry is the continual increase in the number of vehicles on the road, which has led to an increased number of traffic jams and accidents.

The Advanced Driver Assistance Systems (ADAS) technology is well-known for its improved precision, lower risk of accidents, and increased ease of use. The application of Artificial Intelligence, mapping technology, and machine learning has resulted in nearly minimal errors, so giving safety and security to drivers and passengers and helping to reduce the number of deaths that occur on the roads. In the end, this is contributing to a rise in the need for ADAS in the automotive sector.

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Report Scope

Advanced Driver Assistance Systems (ADAS) Market: Segmentation Analysis

System Segment Analysis

The Adaptive Cruise Control System is a function that may be added to a vehicle to make it capable of automatically adjusting its speed in order to keep a predetermined distance from other vehicles. Another name for this feature is "Dynamic cruise control." The system type section includes a variety of different components, such as the Tyre Pressure Monitoring System (TPMS), the Drowsiness Monitor System, the Intelligent Parking Assist System (IPAS), the Blind Spot Object Detection System, the Lane Departure Warning System, and the Adaptive Front-lighting System.

Component Segment Analysis

During the time period covered by the forecast, the radar will be the primary contributor to the ADAS market. There have been more accidents on the roads, and as a result, more safety measures have been implemented. This has led to an increase in the demand for radar sensors in nations such as the United States of America, China, and the major European countries. In addition to this, there has been an increased emphasis on the need of collision avoidance systems in autonomous driving systems, which has led to an increase in demand for radar sensors during the course of the projected period. The component type division includes things like Camera Unit, LiDAR, Ultrasonic Sensor, and Infrared Sensor, amongst other things.

Vehicle Segment Analysis

The passenger automobile segment is responsible for the majority of the revenue generated by the ADAS market. The ever-increasing need for safety standards on the road can be linked to the improvement of road safety standards, increased consumer awareness, and supportive legislation. The regulations and laws governing ADAS have been made slightly more flexible for the passenger car market in a number of developed countries, including those in Europe, Asia Pacific, and North America. Beginning in January 2019, all passenger vehicles in the developed nations, such as South Korea and Japan, will be required to include an automatic emergency braking system and a lane departure warning system. The component type section includes things like Light Commercial Vehicles, Buses, and Trucks, among other things.

The global Advanced Driver Assistance Systems (ADAS) market is segmented as follows:

By System

• Tire Pressure Monitoring System (TPMS)
• Drowsiness Monitor System
• Intelligent Parking Assist System (IPAS)
• Adaptive Cruise Control System
• Blind Spot Object Detection System
• Lane Departure Warning System
• Adaptive Front-lighting System
• Others

By Component

• Camera Unit
• LiDAR
  
• Radar Sensor
• Ultrasonic Sensor
• Infrared Sensor

By Vehicle

• Passenger Car
  
• Light Commercial Vehicle
• Buses
• Trucks

Browse the full “Advanced Driver Assistance Systems (ADAS) Market By System (Tire Pressure Monitoring System (TPMS), Drowsiness Monitor System, Intelligent Parking Assist System (IPAS), Adaptive Cruise Control System, Blind Spot Object Detection System, Lane Departure Warning System, Adaptive Front-Lighting System, And Others), By Component (Camera Unit, LiDAR, Radar Sensor, Ultrasonic Sensor, And Infrared Sensor), And By Vehicle (Passenger Car, Light Commercial Vehicle, Buses, And Trucks): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020–2028" Report at- https://www.zionmarketresearch.com/report/advanced-driver-assistance-systems-market

Competitive Landscape

Some of the main competitors dominating the global Advanced Driver Assistance Systems (ADAS) market include - 

• Continental AG
• Autoliv Inc.
• Magna International Inc.
• DENSO Corporation
• ROBERT BOSCH STIFTUNG GMBH (ROBERT BOSCH GMBH)
• Panasonic Corporation
• Mobileye N.V
• Renesas Electronics Corporation
• NVIDIA Corporation
• Texas Instruments
• Delphi Automotive Company
• Hyundai Mobis
• Takata Corporation
• Valeo
• NXP Semiconductors
• ZF Friedrichshafen
• Stonkam Co.
• Aisin Seiki Co., Ltd.
• Harman International Industries
• Hitachi Ltd.

 Key Insights from Primary Research:

• According to the analysis shared by our research analyst, the Advanced Driver Assistance Systems (ADAS) market is likely to expand at a CAGR of around 11.6% during the forecast period (2021-2028).                                                                                   
• In terms of revenue, the Advanced Driver Assistance Systems (ADAS) market size was valued at around US$ 20.74 billion in 2020 and is projected to reach US$ 48.37 billion by 2028.
• The Radar have the major contribution in the ADAS market during the forecast period.
• The passenger car segment makes the major contribution to the ADAS market.
• On the basis of region, the “Asia Pacific” region was the leading revenue generator in 2020

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Key questions answered in this report:

• What is the market size and growth rate forecast for Advanced Driver Assistance Systems (ADAS) industry?
• What are the main driving factors propelling the Advanced Driver Assistance Systems (ADAS) Market forward?
• What are the leading companies in the Advanced Driver Assistance Systems (ADAS) Industry?
• What segments does the Advanced Driver Assistance Systems (ADAS) Market cover?
• How can I receive a free copy of the Advanced Driver Assistance Systems (ADAS) Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2021−2028
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By System, By Component, By Vehicle and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The Asia Pacific region held a share of 28.69% in 2020. This is attributable to the presence of few developed nations such as South Korea and Japan and developing nations as China and India in the region. The escalated use of advanced electronics and huge production of vehicle in Japan, South Korea is also one of the major factors. There is tremendous potential for the ADAS market in the region and the governments grabbed the opportunity and have taken various initiatives to encourage the OEMs to do the business in their markets. For instance, TPMS was mandated in China in 2019 and every needs to be equipped with TPMS. In the same regard Chinese government updated the vehicle policies, established new energy departments and made changes in monetary and fiscal policies.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In January 2023, ZF Friedrichshafen AG launched Smart Camera 4.8. It enables autonomous cars to have a wider field of view, enabling the vehicle to identify pedestrians, cyclists, and other vehicles.
• In December 2022, Robert Bosch GmbH launched the 6G-ICAS4 mobility project to integrate communication and radar systems into a single 6G system.
• In September 2022, ZF has presented its advanced new electric power steering (EPS) system for trucks, coaches, and city buses. The EPS was prepared for steer-by-wire and up to level 5 autonomous driving. eWorX, ZF’s electrified commercial vehicle power take-off (PTO) system for driving on-board work equipment, has also been presented, offering emission-free city and urban operation.
• In November 2021, Robert Bosch GmbH developed a Ridecare solution for vehicles to ensure a safe and pleasant driving experience. This solution will sense the smell of smoke, vehicle scratch, and dents.
• In July 2021, According to Magna International, the deployment of its Icon Radar in the Fisker Ocean early in 2022 introduced a digital radar for driver assistance. The radar improves an automobile’s ability to visualize its surroundings and identify possible threats, such as a car stuck in a dark tunnel or a pedestrian up to 150 meters distant. Higher levels of autonomy, according to Magna, would arise from digital radar. It can detect open passageways and low-lying items on congested, multi-lane roadways in addition to vehicles and pedestrians.
• In January 2021, Magna partnered with Fisker to develop an ADAS, which will be applied to the Fisker Ocean SUV, expected to be launched by 2023. This new business win demonstrates Magna’s ability to bring scale and efficiency to the mobility landscape and represents an important expansion of the EV platform sharing, vehicle engineering, and manufacturing cooperation between the two companies.
• In January 2021, Aptiv PLC launched its next-generation ADAS platform. It formalizes the interfaces for sensors and feature functions. The platform enables extensive reuse of base software components, lowering development costs. It works flawlessly with a zonal architecture in which I/O and compute are separated.

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FREQUENTLY ASKED QUESTIONS

• What is advanced driver assistance systems (ADAS)?
• Which key factors will influence global advanced driver assistance systems (ADAS) market growth over 2023-2030?
• What will be the value of the global advanced driver assistance systems (ADAS) market during 2023-2030?
• What will be the CAGR value of the global advanced driver assistance systems (ADAS) market during 2023-2030?
• Which region will record the fastest growth in the advanced driver assistance systems (ADAS) industry globally?
• Which are the major players leveraging the global advanced driver assistance systems (ADAS) market growth?

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