The Automotive ADAS (Advanced Driver Assistance Systems) Market will be worth US$ 131 billion by year 2032. The market is estimated to expand at a CAGR of 9.6% over the course of the forecast period. In 2021, the ADAS market was estimated to be worth US$ 29 billion.
The market for Advanced Driver Assistance Systems (ADAS) in the automotive industry is expected to grow significantly in the coming years. ADAS technologies are designed to enhance the safety and convenience of driving by providing real-time information and automated functions to the driver.
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One of the main drivers of growth in the ADAS market is the increasing demand for safer and more efficient driving experiences. With concerns about road safety and the environmental impact of vehicles, many governments and consumers are seeking out new technologies that can help reduce accidents and improve fuel efficiency. ADAS technologies are seen as an important part of this effort, as they can help drivers avoid collisions and make more informed decisions on the road.
Another factor driving growth in the ADAS market is the increasing availability of these technologies. As more automakers incorporate ADAS systems into their vehicles, the cost of the technology is likely to decline, making it more accessible to a wider range of consumers. In addition, advancements in sensor and imaging technologies are expected to make ADAS systems more accurate and reliable, further boosting their appeal.
During the forecast period, the global ADAS market will benefit from an increase in per-capita consumer spending power in developing economies, as well as an increase in demand for premium and luxurious features in their vehicles. However, high initial costs and an increase in malfunctioning components may limit the global ADAS market growth. Nonetheless the market is predicted to grow due to rising demand from emerging countries such as China, India, Germany and others.
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Key Takeaways from Market Study
- By ADAS type, night vision system (NVS) sales are expected to grow at a CAGR of 9%in global market.
- By technology type, ultrasonic sensor and radar sensor segment is expected to lead with a market share of more than 0%.
- By vehicle type, the passenger vehicle segment will dominate the market with more than 71%of the market share.
- In terms of region, South Asia and Pacific is predicted to exhibit a CAGR of 12.4%.
“The swift expansion of the automotive sector has resulted in an increase in car production, accelerating the growth of the advance driver assistance system market. The market will gain traction in response to the rising demand for safe care driving and implementation of regulations ascertaining improved road safety.” says a Future Market Insights analyst.
Advance Driver Assistance System Market Competitive Landscape
Manufacturers in the global advance driver assistance system market are focusing on the development of new ADAS type with decreased human interference and increased accountability.
Key Companies Profiled
Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, DENSO corporation, Mobileye, Aptiv Plc, Veoneer Inc., Autoliv Inc., Valeo SA, Magna International, Aisin Seiki Co. Ltd., Panasonic corporation, Texas Instruments, NVIDIA corporation, NXP Semiconductors NV, Renesas Electronics Corporation, Intel Corporation, Hitachi, Harman International Industries
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ADAS Market by Category
By System:
- Adaptive Cruise Control (ACC)
- Automotive Emergency Braking (AEB)
- Adaptive Front Light (AFL)
- Blind Spot Detection (BSD)
- Driver Monitoring System (DMS)
- Forward Collision Warning (FCW)
- Lane Departure Warning (LDW)
- Night Vision System (NVS)
- Park Assist (PS)
- Tire Pressure Monitoring System (TPMS)
By Technology:
- Ultrasonic Sensor
- Lidar Sensor
- Radar Sensor
- Camera Sensor
- Infrared Sensor
- Pressure Sensor
By Sales Channel:
- Original Equipment Manufacturer (OEM)
- Aftermarket
By Vehicle Type:
- Passenger Vehicle
- Heavy Commercial Vehicle
- Light Commercial Vehicle
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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