The Advanced Driver Assistance Systems (ADAS) Market was worth USD 13.9 billion in 2021 and is expected to grow at a CAGR of 19.2% between 2022 and 2030.
The advanced driver assistance system (ADAS) encompasses a wide range of active and passive systems designed to assist the driver by providing comfort, safety, and efficacy while driving and improving driver, passenger, and pedestrian safety and security. It contains numerous critical components such as cameras, sensors, software, and radar that aid in properly operating the system. Driverless or automated vehicles are becoming increasingly popular around the world. Due to the growing demand for safety features in automobiles, increased comfort, and a more efficient driving experience, market leaders are investing heavily in research and development.
Market Dynamics
Drivers:
Increasing awareness of vehicle safety ratings and lower component costs due to the widespread use of cameras and radars will be significant growth drivers for the advanced driver assistance systems (ADAS) market. Major automakers are embracing ADAS results to achieve advanced safety conditions and therefore attract further guests. As a result, leading OEMs either standardize safety systems across models or offer them as options. As a result of the increasing penetration of advanced driver assistance system features, demand for components such as cameras, radar sensors, ultrasonic sensors, and LiDAR will increase during the forecast period.
Restraints:
For effective operation, Advanced Driver Assistance Systems (ADAS) require basic infrastructure such as well-organized roads, lane marking, and GPS availability. Poor Structure outside of civic areas, cost considerations, and inadequate driving training or discipline, limits the growth of the ADAS request in developing countries. Furthermore, the ongoing COVID-19 pandemic will cause financial crises, further delaying the development of modern infrastructure for intelligent transportation.
Key players:
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Aptiv
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Robert Bosch GmbH
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Continental AG
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Magna International
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Veoneer
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Hyundai Mobis
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ZF Friedrichshafen
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Valeo
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NVIDIA
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Intel
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Microsemi Corporation
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Nidec Corporation
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Hella
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Texas Instruments
Market Segmentation:
Advanced Driver Assistance Systems (ADAS) Market, By System Type
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Intelligent Park Assist (IPA)
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Lane Departure Warning (LDW)
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Road Sign Recognition (RSR)
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Tire Pressure Monitoring System (TPMS)
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Night Vision System (NVS)
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Others
Advanced Driver Assistance Systems (ADAS) Market, By Sensor Type
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Image Sensors
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Ultrasonic Sensors
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LiDAR
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Laser Sensors
Advanced Driver Assistance Systems (ADAS) Market, By Vehicle Type
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Passenger Car
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Truck
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Bus
Advanced Driver Assistance Systems (ADAS) Market, By Electric Vehicle
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Hybrid Electric Vehicles (HEV)
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Plug-in Hybrid Electric Vehicle (PHEV)
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Fuel Cell Electric Vehicle (FCEV)
Advanced Driver Assistance Systems (ADAS) Market, By Region
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North America
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Latin America
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Europe
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Asia Pacific
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Middle East & Africa
Regional Analysis:
Europe and North America have emerged as the dominant regions for the global advanced driver assistance systems (adas) market in recent years, accounting for more than XX% of global revenue in 2020. High-tech adoption rates and the presence of major ADAS market participants are expected to drive the ADAS market in the near future. Customers are increasingly interested in ADAS features, and more than 60 million vehicles in the United States are equipped with ADAS technologies. Some shops have also seen customer requests for aftermarket systems to be integrated into their vehicles.
Asia Pacific will be the fastest-growing ADAS market in the coming years, with a CAGR of XX%. In the coming years, South Korea, China, and Japan will be major revenue contributors to the Asia Pacific advanced driver-assistance systems (ADAS) market. Regional production facilities are available from major ADAS solution providers, including Robert Bosch, Continental, and Denso.
Scope of the Report:
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Report Coverage |
Details |
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Base year |
2021 |
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Forecast period |
2022-2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 19.2% |
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YoY growth (%) |
XX% |
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Regional analysis |
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Current Market size |
USD 13.9 Billion |
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Companies Covered |
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User
Tab Content
Introduction
Our market research is an extensive, iterative process that takes into account a combination of primary and secondary research tools with the aim of minimizing deviation and producing the most precise estimate and prediction. For the future course of action, this approach meticulously outlines the actual changes and industry trends. It gives incredibly valuable data that is drawn from the insights and opinions of analysts and professionals. Our papers include in-depth research and analysis based on several factual inputs obtained from expert interviews, accurate data, and local information.
Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
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