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.
Advance driver assistance systems (ADAS) can help prevent human error, which accounts for the majority of automobile accidents. The purpose of ADAS is to reduce the number of car accidents and the seriousness of those that cannot be prevented in order to prevent deaths and injuries. Manufacturers and inventors of ADAS have created systems with the goal of making driving safer and minimising human interference. As a result, it is anticipated that the market for advanced driver assistance systems would continue to expand.
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The market will grow more generally if automobile makers are subjected to stringent rules set forth by international organisations dedicated to improving passenger safety. Growth in the automotive sector, coupled with escalating government initiatives to adopt cutting-edge technologies, the development of increasingly structured safety features, and a rising trend of consumer and governmental acceptance of autonomous vehicles, will open new revenue avenues for the global ADAS market during the forecast period.
The global ADAS market will profit from rising per-capita consumer buying power in developing nations throughout the forecast period, as well as rising demand for high-end and opulent features in their automobiles. However, the expansion of the worldwide ADAS market may be constrained by high starting prices and an increase in faulty components. However, the market is expected to expand because of increased demand from developing nations like China, India, Germany, and others.
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.
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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
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)
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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
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