The ADAS sensors market is poised for significant growth, with an anticipated CAGR of 8.7% over the next decade. By 2033, the market is projected to reach an impressive USD 70.33 billion. This expansion is fueled by the increasing adoption of advanced driver-assistance systems (ADAS) in modern vehicles, driven by a strong focus on safety and automation from both consumers and manufacturers.
As technology advances, ADAS sensors are becoming increasingly sophisticated, enhancing performance and reliability. This evolution highlights the critical role of innovation in the automotive industry, ensuring that ADAS sensors remain essential in the progression toward fully autonomous driving.
Click Here to Request Your Sample Report on the ADAS Sensors industry
Furthermore, advancements in sensor technologies—such as radar, LiDAR, cameras, ultrasonic sensors, and infrared sensors—are propelling innovation in the ADAS market. These technologies provide enhanced accuracy, reliability, and performance. With the growing emphasis on safety and convenience features in vehicles, the demand for ADAS sensors is expected to rise, creating opportunities for sensor manufacturers and technology providers to develop cutting-edge solutions that improve vehicle safety and the overall driving experience.
Key Takeaways from the ADAS Sensors Market Report:
- 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 USD 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 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 drive 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.
Important Developments of the Key Players in the Market
- In 2021, ZF launched a next-generation mid-range radar to improve ADAS functions in ZF coASSIST semi-automated system on the Dongfeng Aeolus Yixuan MAX in China. The new range is high-performance 77GHz front radar which is designed to meet 2022 Euro NCAP 5-Star Safety Ratings and enable semi-autonomous driving functionalities.
- In January 2023, German automotive supplier Bosch is investing around one billion dollars in a new research, development, and assembly center in Suzhou, China.
- In May 2023, Robert Bosch GmbH, the German industrial and technology group, will further strengthen its layout and development of new energy vehicle-related products in China.
Leading Key Players:
- 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
Discover the Global Influence: Learn How Other Regions and Countries Shape the Industry. Reach out to Sales to Secure Your Copy of the Report Now!
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 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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
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
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube