Advanced Driver Assistance Systems (ADAS) Market

Advanced Driver Assistance Systems (ADAS) Market Size (2023 – 2028):

The Global Advanced Driver Assistance Systems (ADAS) Market has been valued at US$ 33.63 billion in 2022 and it is expected to reach a valuation of US$ 59.02 billion by 2028. during this forecast period, it is anticipated to grow with a healthy CAGR of 11.90% over 2023-2028.

Advanced driver assistance systems (ADAS) are a group of active and passive technologies that help drivers with safety, comfort, and efficiency while driving, as well as improving the security and safety of the driver, passengers, and pedestrians. Sensors, cameras, radars, and software are just a few of the critical components that help the system run smoothly. ADAS systems include autonomous emergency braking, blind-spot detection, park aid, adaptive cruise control, and lane warning departure systems, to name a few. Furthermore, increased urbanization and industrialization, rising living standards, and an increase in disposable income are all contributing to the growth of the Advanced Driver Assistance Systems (ADAS) Market over the forecast period.

The majority of accidents are caused by driver error and irresponsibility. ADAS serves to alleviate traffic congestion and road accidents while also improving the safety and security of cars, their occupants, and pedestrians. Furthermore, governments from all over the world are investing heavily in new technologies, developing safety measures, and promoting the usage of driverless vehicles. In addition, the government has mandated that automakers include various sophisticated driver-aid systems in all types of automobiles. Autonomous or self-driving automobiles are no longer a pipe dream. LiDAR, Radar, V2X Communication, deep learning, and sensor fusion are all examples of autonomous driving technologies that are rapidly displacing traditional automotive technologies. Driver assistance systems are a collection of technology systems aimed at upgrading and automating automobiles in order to provide a safer and more enjoyable driving experience. The deployment of level-0 to level-2 ADAS is widespread in the automotive industry.

Market Drivers:

Strict government regulations and increasing government support for vehicle safety are expected to propel the market forward. To reduce road accidents and promote automotive safety, the government has enacted a number of regulations and laws. Traffic congestion and accidents are on the rise as the number of vehicles on the road continues to rise. The majority of accidents are caused by driver error and irresponsibility. Consistently, around 1.3 million individuals pass on in car crashes all over the planet. Several regions' governments are pouring money into adopting modern technologies, creating safety features, and encouraging the usage of self-driving cars. To gain access to vehicle authorization, automotive manufacturers must also meet the standards and obtain safety ratings set by organizations such as the International Centre for Automotive Technology (ICAT), the New Car Assessment Program (NCAP), and the Insurance Institute of Highway Safety (IIHS).

Market growth will be fuelled by rising demand for safety features, greater convenience, and high efficiency. By supporting the driver with artificial intelligence and other advanced features, advanced driver assistance systems avoid distraction and minimize pressure on the driver. The greater application of such systems in automobiles is due to the rapid adoption of superior technologies in software algorithms, mapping, CPUs, cameras, and sensors. Manufacturers are incorporating driver assistance technologies into vehicles to improve driver and passenger safety and reduce road fatalities. These safety benefits, as well as other high-efficiency considerations, are driving up demand for ADAS in the car industry.

Market Restraints:

Market growth may be hampered by malfunctioning and high initial costs. Despite the fact that the demand for intelligent driver assistance systems in the automobile industry is continually increasing, manufacturers are being pushed to update and enhance their products in order to fulfill consumer demands and maintain a competitive edge. Adaptive cruise control, automated emergency braking, park assist, and blind-spot detection are just a few examples of driver-aid technologies. Radars, sensors, cameras, maps, and other software are used in all of these systems. Because these highly technological systems rely on batteries, they pose a number of technical obstacles and complications. The continual consumption of battery power may cause battery disruptions, and relying on these systems may increase the danger of malfunctioning and failure.

Market Recent Developments:

• Jaguar Land Rover, located in the Midlands, has launched a new high-performance version of the Range Rover Velar. The Range Rover Velar HST joins the HST versions of the Range Rover Sport and Evoque models in the Range Rover line-up. Based on the existing R-Dynamic design, a combination of design upgrades and chassis characteristics have been added. It also has a black contrast roof and a full Black Pack appearance.

• Five, a self-driving firm based in the United Kingdom, has been acquired by Bosch. Robert Bosch has purchased Five, a self-driving firm based in the United Kingdom that specializes in cloud computing, safety assurance, robotics, and machine intelligence.

• M3 Systems and S.E.A. Date Technik GmbH are collaborating on sophisticated GNSS emulation technology. The new alliance seeks to provide high-quality GNSS tools for automotive vehicle-to-everything (V2X) communication and advanced driver-assistance systems (ADAS) applications, both now and in the future. Chipset vendors, automotive suppliers, and OEMs are served by S.E.A. Date Technik, a developer and system integrator of advanced radio frequency and V2X test and measurement solutions.

ADVANCED DRIVER ASSISTANCE SYSTEMS (ADAS) MARKET REPORT COVERAGE:

Market Segmentation:

Advanced Driver Assistance Systems (ADAS) Market - By System Type:

• Adaptive Cruise Control.

• Blind Spot Detection.

• Park Assist.

• Lane Departure Warning System.

• Autonomous Emergency Braking.

• Forward Collison Warning.

• Tire Pressure Monitoring.

• Head-UP Display.

• Intelligent Headlights.

• E-Call System.

Adaptive control is anticipated to possess the dominant share within the Global Advanced Driver Assistance Systems (ADAS) Market During the Forecast Period. An adaptive controller (ACC) could be a system that assists automobiles in maintaining a secure following distance and adhering to hurry limits. This device automatically changes a car's speed so the motive force doesn't must. Sensory technology installed in automobiles, including as cameras, lasers, and radar equipment, allows ACC to calculate the space between two cars or other objects on the road. As a result, ACC is the foundation for future car intelligence. The car can identify and warn the motive force about probable forward crashes due to these sensory systems. As a result, red lights flash, and also the phrase 'brake now!' appears on the dashboard to help the driving force in slowing down. There is also an audible warning yet.

Forward Collison Warning is predicted to register the easiest CAGR within the world Advanced Driver Assistance Systems (ADAS) Market During the Forecast Period. The Intelligent Forward Collision Warning system detects the distances between the two cars ahead, additionally as their relative speeds, employing a radar sensor mounted within the front of the vehicle. The device can then assess the scenario sooner than the car. When the system detects that the vehicle has to be hampered due to a sudden change within the cars before it, it alerts the thrust by blinking the vehicle ahead detection indicator and producing an auditory alert.

Advanced Driver Assistance Systems (ADAS) Market - By Component Type:

• LiDAR.

• Radar.

• Camera.

• Sensors.

The radar segment is expected to have the dominant share in the Global Advanced Driver Assistance Systems (ADAS) Market During the Forecast Period. Radar sensors are utilised in a variety of technologies, including emergency braking assistance and adaptive cruise control. Over the projected period, it is also expected to be the fastest-growing component type. Furthermore, rising accident rates and improved safety awareness are driving market expansion, resulting in increased demand for radar sensors in nations like as the United States, China, and major European countries.

Sensors are expected to have the next dominant share in the Global Advanced Driver Assistance Systems (ADAS) Market during the Forecast Period. Continuous data inputs from the surrounding vehicle produced by the sensors are required for driver assistance systems and autonomous vehicle operations.

Advanced Driver Assistance Systems (ADAS) Market - By Vehicle Type:

• Passenger Cars.

• Light Commercial Vehicle.

• Heavy Commercial Vehicle.

The Passenger Cars segment is expected to have the dominant share in the Global Advanced Driver Assistance Systems (ADAS) Market During the Forecast Period. Because of the growing need for advanced safety systems and vehicle electrification, the passenger car segment contributes significantly to the market. Vehicle sales and production have increased over the world as a result of increased urbanization, industrialization, rapid demographic growth, and rising disposable incomes. Furthermore, governments make significant investments in the development of innovative technology in the automotive industry. The expansion of the advanced driver assistance systems (ADAS) market is being driven by a surge in demand for passenger automobiles with improved safety features, comfort, and efficiency in driving.

Market Reginal Analysis:

The Global Advanced Driver Assistance Systems (ADAS) Market Report includes the segmentation of regions:

• North America - U.S, Canada
• Europe - Norway, Germany, Sweden
• Asia Pacific - China, India, Japan
• Latin America - Brazil, Mexico, Argentina
• Middle East and Africa - Middle East, Africa

Asia-Pacific is expected to have the dominant share in the Global Advanced Driver Assistance Systems (ADAS) Market During the Forecast Period. Due to the region's large car sales and manufacturing, as well as a major increase in the use of electric vehicles in nations like China and Japan. Automobile manufacturers intend to increase production volume and make quick technological breakthroughs in manufacturing facilities in rising markets such as China and India.

Europe is expected to have the next dominant share in the Global Advanced Driver Assistance Systems (ADAS) Market During the Forecast Period. Because of the strict government rules enforced to reduce fuel emissions, the European market is anticipated to hold the second-largest proportion of the industry.

North America is expected to register good CAGR and sustainable growth in the Global Advanced Driver Assistance Systems (ADAS) Market During the Forecast Period. Over the conjecture time frame, the market in North America is supposed to essentially increment. The regional market is being boosted by the presence of major automobile manufacturing businesses and the rising usage of such systems in vehicles.

Market Key Players:

1. Robert Bosch GmbH

2. Continental AG

3. ZF Friedrichshafen AG

4. DENSO CORPORATION

5. Aptiv PLC

6. Valeo SA

7. Magna International Inc.

8. Aisin Seiki Co. Ltd

9. Autoliv Inc.

10. GENTEX CORPORATION