[Research Report] The Advanced Driver Assistance Systems (ADAS) market is expected to grow from US$ 43,138.44 million in 2021 to US$ 183,814.84 million by 2028; it is estimated to grow at a CAGR of 25.4% from 2022 to 2028.
Analyst Perspective:
The global advanced driver assistance system market has witnessed significant growth and transformation in recent years, driven by technological advancements, increasing safety concerns, and the pursuit of enhanced driving experiences. This dynamic market segment encompasses a wide range of technologies and features to assist drivers in various ways, from improving safety to enhancing convenience and comfort.
One of the primary drivers behind the market growth is the increasing focus on safety. With road accidents continuing to pose a significant threat to public health and safety, Advanced Driver Assistance System (ADAS) have become crucial. Features such as lane-keeping assist, adaptive cruise control, and automatic emergency braking have gained widespread adoption as they help reduce the risk of accidents caused by human error. Furthermore, the proliferation of advanced Advanced Driver Assistance System (ADAS) (ADAS) is changing how consumers interact with vehicles. These systems rely on sensors, cameras, and machine learning algorithms to give drivers real-time feedback, making navigating easier. These technologies are being integrated into both luxury vehicles and mid-range and economy vehicles, expanding their reach across various consumer segments.
As the market continues to evolve, it faces certain challenges. The complexity of ADAS systems can lead to higher costs, and there are concerns about their reliability in all conditions. Moreover, data privacy and cybersecurity issues are becoming increasingly important as these systems gather and process vast amounts of data.
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Market Overview:
The global Advanced Driver Assistance System market has grown substantially over recent years, driven by the ever-increasing demand for advanced safety features and enhanced driving experiences. The Advanced Driver Assistance System (ADAS) are a group of functionalities and technologies designed to aid and augment the capabilities of drivers in various ways, ultimately contributing to safer and more convenient driving.
The primary goal of advanced driver assistance system (ADAS) is to improve road safety by reducing the likelihood of accidents, primarily those caused by human error. They achieve this through a combination of sensors, cameras, and radar technologies that continuously monitor the vehicle's surroundings and provide real-time feedback to the driver. Some common features of driving assistance systems include adaptive cruise control, lane-keeping assist, automatic emergency braking, and blind-spot monitoring. These systems work together to assist the driver in maintaining a safe following distance, staying within the lane, and avoiding collisions.
The working of these systems is centered on data acquisition, processing, and actuation. Various sensors and cameras around the vehicle collect data about the road conditions, nearby objects, and the vehicle's status. This data is then processed by onboard computer systems, which use sophisticated algorithms to interpret it and make decisions. For instance, adaptive cruise control uses radar to measure the distance to the vehicle in front, adjusting the speed to maintain a safe following distance. Similarly, lane-keeping assist employs cameras to detect lane markings and gently steer the vehicle to keep it within the lane if the driver starts to drift.
As technology advances, Advanced Driver Assistance System (ADAS) capabilities are expanding, becoming increasingly integral to modern vehicles. While these systems undoubtedly enhance safety and driver convenience, there are still challenges to address, including the cost of implementation, system reliability, and cybersecurity concerns.
Market Driver:
Increased Demand for Safety to Drive Growth of Advanced Driver Assistance System Market
The global Advanced Driver Assistance System market is on an upward trajectory, largely driven by the increasing regulatory emphasis on road safety. Governments worldwide have recognized advanced driver assistance system’s (ADAS) critical role in reducing accidents and saving lives. The statistics provided by various government agencies highlight the importance of the road safety situation and the need for advanced safety technologies. In the United States, the National Highway Traffic Safety Administration (NHTSA) reported that in 2021 there were 42,939 fatalities from motor vehicle crashes. These figures highlight the pressing need for innovative solutions to mitigate the human error that often contributes to road accidents. As a result, government bodies in the U.S. and many other countries are stepping up their efforts to mandate and encourage the integration of advanced driver assistance system (ADAS) in new vehicles. For instance, in 2022, the European Union made some basic advanced driver assistance features mandatory in passenger cars and vehicles. This regulatory push, coupled with growing public awareness and demand for safer vehicles, is a key driver in the growth of the global Advanced Driver Assistance System market. The automotive industry's future is combined with developing and integrating these advanced safety systems as they continue to reduce the economic burden associated with road accidents.
Segmental Analysis:
Based on vehicle type, the market is segmented into passenger cars and commercial vehicles. Among these, passenger car is growing rapidly, with rising demand for the production of premium luxury vehicles around the globe. Also, the rising sale of vehicles with the surge in the disposable income of people in countries such as the US and India are driving the market growth. The passenger vehicle sales in India witnessed a year-on-year growth of approximately 25% from the previous year to reach 3.8 million in 2022. Further, the growing adoption of electric vehicles in China is another factor supporting the market growth. As per the China Association of Automobile Manufacturers, EV sales in China witnessed a 93.4% growth compared to 2021.
Regional Analysis:
The advanced driver assistance system (ADAS) market in the Asia Pacific region is experiencing continuous growth, and several factors contribute to this remarkable expansion.
One of the primary reasons for the accelerated growth of the Advanced Driver Assistance System market in Asia Pacific is the proactive stance taken by governments in the region. Governments increasingly recognize advanced driver assistance system’s (ADAS) critical role in enhancing road safety and mitigating the severe traffic challenges of rapid urbanization and population growth in many countries. For example, in Japan, where the road safety record is relatively strong, the government is still proactive in promoting the Advanced Driver Assistance System. The National Police Agency Japan, has been supporting the development and implementation of these systems. Japan has launched initiatives like the "Connected Car Roadmap" to encourage the adoption of advanced technologies, including the Advanced Driver Assistance System, to enhance safety and reduce traffic accidents. This has led to a steady increase in vehicles equipped with Advanced Driver Assistance System (ADAS) in the Japanese market.
Furthermore, the continuously growing automotive industry in the Asia Pacific is another factor driving the market growth. A strong consumer base, increasing disposable income, and rising adoption of electric vehicles are some factors supporting the region's Advanced Driver Assistance System’s growth.
Key Player Analysis:
The Advanced Driver Assistance System market analysis consists of players such as Continental AG, ZF Friedrichshafen, Aptiv PLC, Valeo, Hella Kgaa Hueck & Co., Robert Bosch Gmbh, Hyundai Mobis, Magna International, Autoliv, Denso Corporation. In 2023, Porsche partnered with Mobiley to supply a Level 2+ advanced driver-assistance system.
Advanced Driver Assistance System (ADAS) Advanced Driver Assistance System Market Regional Insights
Advanced Driver Assistance System Market Regional Insights
The regional trends and factors influencing the Advanced Driver Assistance System Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Advanced Driver Assistance System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
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Advanced Driver Assistance System Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2021 | US$ 43.14 Billion |
Market Size by 2028 | US$ 183.81 Billion |
Global CAGR (2021 - 2028) | 25.4% |
Historical Data | 2019-2020 |
Forecast period | 2022-2028 |
Segments Covered |
By Sensor Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
Advanced Driver Assistance System Market Players Density: Understanding Its Impact on Business Dynamics
The Advanced Driver Assistance System Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Advanced Driver Assistance System Market are:
- Continental AG
- Cypress Semiconductor Corporation
- First Sensor AG (TE Connectivity)
- Harman International (Samsung Group)
- Hitachi, Ltd.
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Advanced Driver Assistance System Market top key players overview
Recent Developments:
The companies are adopting several strategies, such as collaborations, partnerships, mergers & acquisitions, and new product developments in the global Advanced Driver Assistance System market. A few recent key market developments are listed below:
- In 2023, Continental and Ambarella partnered to develop AI-based end-to-end hardware and software solutions.
- In 2023, General Motors launched driver assistance technology, Ultra Cruise. Ultra Cruise monitors the driver's head position and eyes coordinated to the road using a combination of cameras, short- and long-range radars, LiDAR behind the windshield, an all-new processing system, and a driver attentiveness system.
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Sensor Type, Technology Type, and Vehicle Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Asia Pacific dominated The Advanced driver assistance systems (ADAS) market in 2021 with a share of 46.1%; it would continue to dominate the market during the forecast period and account for 50.2% share by 2028
The driving factors impacting the Advanced driver assistance systems (ADAS) market are
I. Growing Demand for Safety and Driving Comfort Features
II. Rising Adoption of Integrated Radar and Camera Systems
The global advanced driver assistance systems (ADAS) market was valued at US$ 43,138.44 million in 2021
The global advanced driver assistance systems (ADAS) market size is projected to reach US$ 183,814.84 million by 2028.
The blind-spot detection segment led the advanced driver assistance systems (ADAS) market in 2021.
The key players holding the major market share of the advanced driver assistance systems (ADAS) market are Continental AG; Hitachi, ltd; Denso Corporation; Harman International; and NXP semiconductors.
The Future trends impacting the advanced driver assistance systems (ADAS) market are - Growing Demand for Embedded Vision Systems in Vehicles
APAC is the fastest-growing regional market in the global Advanced driver assistance systems (ADAS) market in 2021.
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The List of Companies - Advanced Driver Assistance Systems (ADAS) Market
- Continental AG
- Cypress Semiconductor Corporation
- First Sensor AG (TE Connectivity)
- Harman International (Samsung Group)
- Hitachi, Ltd.
- MG Motor India Private Limited
- NVIDIA Corporation
- Robert Bosch GmbH
- Telefonaktiebolaget LM Ericsson
- Vector Informatik GmbH