The advanced driver assistance system (ADAS) testing equipment market is projected to attain a valuation of US$ 56.4 billion in 2023 and is expected to accumulate over US$ 202.7 billion by 2033, trailing a CAGR of 13.6% from 2023 to 2033.
The incorporation of advanced driver assistance systems (ADAS) in passenger automobiles has driven market expansion as people’s awareness of safety and comfort has grown. In countries including the United States, Japan, China, and Germany, government rules that emphasise the usage of ADAS for passenger safety have further driven industry expansion.
Notably, India has set a goal to install automated emergency braking (AEB) and electronic stability control (ESC) in cars between 2022 and 2023 to lower the chance of collisions.
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Rapid urbanisation, rising per capita income, and better living conditions are the main factors encouraging the use of autos. Therefore, sophisticated driver assistance systems are employed frequently. The market for sophisticated driver assistance systems is expanding as a result of the rise in demand for luxury automobiles in industrialised countries, with well-known automakers like Volkswagen, Audi AG, and Mercedes Benz playing a key role.
The market for ADAS is being propelled by both an increase in safety consciousness and rising accident rates. As a result of developments in automotive technology, there is a substantial requirement for complex systems like emergency braking, night vision, and traffic sign recognition. The market’s growth is substantially impacted by the acceptance of self-driving or autonomous vehicles.
Market participants have increased their investments in autonomous vehicle technology as a result of the great potential benefits that the electrification of vehicles is bringing for the industry of vehicle automation. For a vehicle to be automated, advanced driver assistance systems (ADAS) must be included. Businesses want to attain a close-to-precise degree of vehicle automation by integrating different ADAS sensors including radar, LIDAR, and cameras.
Intelligent driving assistance systems combine contemporary technology and artificial intelligence to assist drivers, lowering their effort and removing distractions. Additionally, due to technological improvements in fields like software algorithms, mapping, CPUs, cameras, and sensors, these systems can now be incorporated into a variety of vehicles.
Vehicle manufacturers are gradually adding driver-aid technologies to reduce fatalities and injuries from collisions. As the auto industry continues to develop highly efficient and secure technologies, the necessity for ADAS is expected to grow.
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Key Takeaways:
- The United States advanced driver assistance system (ADAS) testing equipment industry is projected to expand with a CAGR of 12.8% during the forecast period.
- The demand for advanced driver assistance system (ADAS) testing equipment in China is anticipated to increase at a promising CAGR of 13.3% from 2023 to 2033.
- By product type, the hardware segment is projected to secure a CAGR of 14.4% in the forthcoming years.
- The United Kingdom is expected to secure an impressive CAGR of 10.2% throughout the forecast period.
Advancements in the automotive sector and the introduction of highly efficient and safe features in vehicles are expected to drive market growth during the forecast period, anticipates FMI Analyst.
Competitive Landscape
The market for advanced driver assistance system (ADAS) testing equipment is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.
The key industry players are Konrad GmbH, AB Dynamics plc, National Instruments Corporation, TKH Group NV, Oxford Technical Solutions Ltd., and Racelogic Ltd.
Key Segments Profiled in the Two-wheeler Aftermarket Components & Consumables Market
By Two-Wheeler Type:
- Standard Motorcycle
- Cruiser Motorcycle
- Sports Motorcycle
- Standard Scooter
- Maxi Scooter
- Mopeds
By Product Type:
- Components
- Fuel Injector
- Fuel Filter
- Air Filter
- Brake Pads
- Brake Shoes
- Brake Caliper
- Accelerator & Brake Cable
- Electric Starter Motor
- Clutch Plate
- Chain & Sprocket
- Battery
- Headlight Bulb
- Turn Indicator Bulb
- Spark Plugs
- Ignition Coil
- Shock Absorber
- Seat
- Exhaust Muffler
- Mirror
- Tires
- Consumables
- Washing Shampoo
- Cleaning Polish
- Coolant
- Engine Oil
By Sales Channel:
- Authorized Dealers
- Independent Dealers
- Online
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
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Recent Developments in the Advanced Driver Assistance System (ADAS) Testing Equipment Market
- Robert Bosch collaborated with Hycan Automobile Technology in 2021 to develop automated valet parking technology. This technology is expected to be integrated into the Hycan Z03 vehicle.
- In March 2021, AB Dynamics, a provider of testing systems and measurement products, completed its acquisition of Vadotech Group, which includes Vadotech and Zynit. This acquisition enables AB Dynamics to achieve strategic goals, including expanding its presence in China market and strengthening its position as a global technical service provider in the automotive industry.
- Continental AG and Beijing Horizon Robotics Technology R&D Co., Ltd. announced a Joint Venture (JV) contract in September 2021. The JV aims to offer integrated solutions for advanced driver assistance systems and autonomous driving, encompassing both software and hardware components.
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