The global ADAS sensors market in 2022 was US$ 28.12 billion and is estimated to be US$ 30.53 billion in 2023. As per the Future Market Insights projection, the ADAS sensors market is anticipated to expand at a CAGR of 8.7% between 2023 and 2033, totalling around US$ 70.33 billion by 2033.
ADAS (Advanced Driver Assistance Systems) in-vehicle systems help in monitoring, warning, and managing the vehicle with partial and full driver control like when a person drives the car but is unable to completely concentrate on driving and is in need of appointing in vehicle control, where the driver is driving in or doing other tasks such as parking the vehicle.
Unveiling the Evolution of ADAS In-Vehicle Systems. Discover the Future of Advanced Driver Assistance in Our Comprehensive Report – Download the Sample Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-11865
There is full concentration on the development of high-precision sensors as ADAS sensors play an important part in ADAS decision-making for vehicle control thus, upliftment of the market arises.
Reasons like the lack of infrastructures outside urban areas, exhibiting cost considerations, and insufficient driving in training or discipline are all restraining the industry’s development in developing countries.
Key Takeaways from the Market Study
- The global advanced driver assistance systems (ADAS) sensors market expanded at a CAGR of 7.4% between 2018 and 2022.
- The global ADAS sensors market is expected to boost sales at an impressive 14.1% CAGR over the forecast period, with the market valuation reaching US$ 43.2 billion in 2030.
- Future Market Insights (FMI) says that the sales in the ADAS sensors market accounted for 6-7% of the global sensors market in 2020.
- North America’s ADAS sensors market is expected to hold a 15.6% of the total market share whereas the United States holds a value share of 14.8%.
- The United Kingdom is projected to emerge as a significant pocket over the assessment period with a market share of 14.2% whereas Germany’s market is said to expand at a CAGR of 8.9% due to the high adoption of ADAS systems in economic and luxury vehicles.
- Europe’s ADAS sensors market held a dominant share of 24.3% in the global ADAS sensors market in 2022.
- The rising preference for cruise control in modern vehicles might spur demand for ADAS sensors that drives sales in this segment holding a market share of 52.4%.
- The demand for ADAS sensors in the passenger vehicles segment is expected to continue rising over the forecast period as per FMI holding a market share of 49.9%.
- A wide availability of ADAS radar sensors offered by OEMs might boost sales with a value share of 40.2%.
The presence of a variety of electronic monitoring and controlling devices is one of the key developments of the ADAS market – comments a Future Market Insights Analyst.
Some of the prominent players profiled in the global market are
- Continental AG
- Robert Bosch GmbH
- Denso Corporation
- Delphi Technologies PLC
- Hella GmbH & Co. KGaA
- TE Connectivity
- CTS Corporation
- NXP Semiconductors N.V.
- Microchip Technology Inc.
- Infineon Technologies AG
- Panasonic Corporation
- ZF Friedrichshafen AG
- TDK Corporation
- Sensata Technologies Holding N.V.
- Allegro MicroSystems, LLC
- Analog Devices, Inc.
- Elmos Semiconductor AG
- Valeo S.A.
- Autoliv Inc.
- STMicroelectronics N.V.
Important Developments by Key Players in the Market
- In January 2023, from the latest in energy-efficient lifestyle products to advances in e-mobility that electrify vehicles and roadways to the realization of a carbon-neutral town, Panasonic highlights its innovations, smart collaborations, environmentally responsible solutions, and wellness technology at CES 2023.
- In May 2023, Japan’s Panasonic Holdings Corp (6752.T) aims to ramp up production of battery cells used in electric vehicles by building at least two new factories in North America.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global ADAS sensors market providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the ADAS sensors market is segmented based on major By Product Types: (Blind Spot Detection, Night Vision Sensors, Light Sensors, Parking Sensors, Cruise Control), Vehicle Type: (Passenger Vehicles, Commercial Vehicles, Heavy Commercial Vehicles), Sales Channel: [Original Equipment Manufacturers (OEM), Original Equipment Spares (OES), Independent Aftermarket (IAM)], Region: (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding China & Japan, Japan, China, Middle East & Africa)
ADAS Sensors Market Segmentation
By Product Type:
- Blind Spot Detection
- Night Vision Sensors
- Light Sensors
- Parking Sensors
- Cruise Control
By Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
- Heavy Commercial Vehicles
By Sales Channel:
- Original Equipment Manufacturers (OEM)
- Original Equipment Spares (OES)
- Independent Aftermarket (IAM)
By Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding China & Japan
- Japan
- China
- The Middle East & Africa
About the Automotive Division at Future Market Insights
The automotive team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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.
Contact:
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs