The global automotive ADAS (Advanced Driver Assistance System) market is projected to grow significantly, increasing from USD 64,047.75 million in 2024 to USD 211,710.80 million by 2034, driven by a steady CAGR of 12.7% over the next decade.
The market’s expansion is largely fueled by rising demand for ADAS in compact passenger cars. In developed nations, the growing ownership of luxury vehicles, supported by higher disposable incomes and a shift towards materialistic lifestyles, is also influencing the market. This trend is extending to developing economies like India and China, where the luxury car segment is experiencing substantial growth, leading to increased adoption of ADAS technologies.
Automakers are investing heavily in advanced systems such as night vision, road sign recognition, and drowsiness monitoring, which are boosting ADAS sales. Additionally, stringent government regulations aimed at enhancing road safety and reducing accidents are further driving the market. For example, recent EU regulations mandate the installation of adaptive cruise control systems in commercial vehicles, creating additional growth opportunities for the automotive ADAS market over the coming years.
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Key Takeaways from the Automotive ADAS (Advanced Driver Assistance System) Market Report
- The United States automotive ADAS market is projected to expand at a CAGR of 8.9% through 2034, whereas the Canada market is anticipated to register a CAGR of 9.7% through 2034.
- In Europe, Germany, Spain, and France are expected to record CAGRs of 8.8%, 8.5%, 8.4%, respectively, through 2034.
- In Asia Pacific, Japan, China, and India are predicted to register CAGRs of 13.6%, 13.5%, and 13%, correspondingly, through 2034.
- The AEB segment is projected to obtain a market share of 56.3% in 2024.
- The ultrasonic sensors segment is anticipated to accumulate a share of 25.1% in 2024.
“Vehicle electrification is projected to open up doors for the future growth of autonomous ADAS. Increasing investments in autonomous vehicle technology are promoting the integration of ADAS in vehicles. Key players in developed economies are turning their focus on developing economies as avenues for growth emerge in these countries,” – says an FMI analyst.
Key Tactics Employed by Players Operating in Automotive ADAS (Advanced Driver Assistance System) Market
The automotive ADAS industry is significantly fragmented, with a considerable proportion of players competing for a greater market share. Players can be seen competing on the basis of performance, price, features, technology, and scalability. Players are focusing on their dynamics and relationships with automakers and leveraging their expertise in automotive systems integration. Additionally, market participants are developing sophisticated ADAS technologies and are focusing on certain niches like specific vehicle types and specific ADAS features. Surging importance of ADAS systems in autonomous vehicles is expected to increase its sales.
Key Providers of Automotive ADAS
- 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
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Key Developments Taking Place in Automotive ADAS (Advanced Driver Assistance System) Market
- Green Car revealed that it is going to equip its entire fleet with ADAS by 2022 end. Thus, optimizing user convenience.
- Beijing Horizon Robotics Technology R&D Co., Ltd. and Continental AG (Continental) came into a Joint Venture (JV) contract in September 2021. The JV concentrates on offering hardware and software integrated solutions for autonomous driving and advanced driver assistance systems.
- Aptiv PLC, in January 2022, announced a next-Gen ADAS for electric and autonomous vehicles, which is expected to cut cost of software-powered vehicles owing to Aptiv scalable architecture.
- ZF introduced a 360 ° protection system for commercial automotive in January 2022. The system is projected to detect risks from rear and front side and safeguard the vehicle via dynamic control system. Currently, the firm mainly targets the United States market due to significant demand from commercial fleet operators.
Key Segments in the Automotive ADAS (Advanced Driver Assistance System) Market
By System:
- Standard
- Folding
- Self-Balancing
- Maxi
- Three-Wheeled
By Battery Type:
- Li-ion
- NiMH
- Lead-Based
By Technology:
- Plug-In
- Battery
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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