The global ADAS sensors market share 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.
The ADAS (Advanced Driver Assistance Systems) Sensors Market is witnessing significant growth driven by the increasing demand for safety features, the rise of semi-autonomous and autonomous driving technologies, and regulatory mandates promoting vehicle safety standards. ADAS sensors play a crucial role in enhancing vehicle safety by providing real-time data and enabling functionalities such as adaptive cruise control, lane departure warning, automatic emergency braking, and blind-spot detection.
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Moreover, advancements in sensor technology, including radar, LiDAR, cameras, ultrasonic sensors, and infrared sensors, are driving innovation in the ADAS market, offering improved accuracy, reliability, and performance. As automakers and consumers prioritize safety and convenience features in vehicles, the demand for ADAS sensors is expected to continue growing, presenting opportunities for sensor manufacturers and technology providers to develop innovative solutions that enhance vehicle safety and driving experience.
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
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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
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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