Rising Adoption of Autonomous Vehicles to Provide Growth Opportunities for Advanced Driver Assistance Systems (ADAS) Market during 2021-2028
According to our new research study on “Advanced Driver Assistance Systems (ADAS) Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Sensor Type, Technology Type, Vehicle Type, and Geography,” the Advanced Driver Assistance Systems (ADAS) market share is projected to reach US$ 183,814.84 million by 2028 from US$ 43,138.44 million in 2021; it is estimated to grow at a CAGR of 25.4% from 2022 to 2028.
Advanced driver assistance systems (ADAS) market are becoming more widely accessible in new automobiles. Human mistake is responsible for nearly all car accidents, which may be avoided using ADAS. The goal of ADAS is to reduce the incidence of automobile accidents and the severity of those that cannot be prevented, therefore preventing fatalities and injuries. Forward-collision warning (FCW) and automated emergency braking (AEB), for example, are meant to deliver alerts or features that aid the driver with the driving job. These ADAS features are intended to improve driving safety or convenience but do not take the driver's position in the Advanced Driver Assistance Systems (ADAS) market.
Advanced Driver Assistance Systems (ADAS) Market – by Geography
Advanced Driver Assistance System (ADAS) Market Size Report - Outlook & Forecast 2028
Download Free SampleAdvanced Driver Assistance System Market Size and Forecasts (2020-2030), Global and Regional Share, Trends, and Growth Opportunity Analysis, Report Coverage: Sensor Type (Image Sensor, LiDAR, Ultrasonic Sensor, Infrared Sensor, and Others), Technology Type (Adaptive Cruise Control, Blind Spot Detection System, Park Assistance, Lane Departure Warning System, Tire Pressure Monitoring System, Autonomous Emergency Braking, and Others), Vehicle Type (Passenger Car, Commercial Vehicle)
With significant advancements in autonomous cars, automobiles form the cornerstone of the future generation of mobile-connected electronics. Autonomous application solutions are divided into SoCs or system-on-chips. These chips use interfaces and high-performance ECUs to connect sensors to actuators. Furthermore, artificial intelligence (AI) propelled the automobile sector to new heights. Moreover, the growing acceptability of self-driving or automated cars contributes to the advanced driver assistance systems (ADAS) market growth.
The key stakeholders in the Advanced Driver Assistance Systems (ADAS) Market are software developers, advanced driver assistance system manufacturers, system integrators, and end-users. The software developers/providers in the ecosystem provide working with five main components while designing and developing sophisticated driver assistance systems: sensors, processors, software algorithms, mapping solutions, and actuators. All of these components must be brought together by Advanced Driver Assistance Systems (ADAS) market software engineering. ADASENS Automotive GmbH, Intellias, Electrobit, FAAR Industry, Continental Automotive, and others are among the software developers/providers.
Hypervisor-based market systems can be integrated into the cockpit controller. The infotainment system, for example, operates in one of the virtual machines built by Hypervisor technology, while the rear-view camera software is incorporated into a separate VM. Both systems are powered by a single CPU. This means that an ECU's hardware resources are divided between infotainment and ADAS. This distribution of processing resources will be especially intriguing when employing the next generation of CPUs, which can handle exceedingly complicated characteristics in the Advanced Driver Assistance Systems (ADAS) market.
Based on sensor type, the Advanced Driver Assistance Systems (ADAS) industry is segmented into image sensors, LiDAR, radar sensors, ultrasonic sensors, and infrared sensors. The Advanced Driver Assistance Systems (ADAS) market analysis, based on technology type, is segmented into adaptive cruise control, blind spot detection, electronic brake assist, drowsiness-monitoring system, lane departure warning, head-up display, night vision system, park assist, e-call telematics, tire pressure monitoring system, and others. Based on vehicle type, the market is segmented into passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). Based on geography, the global market is segmented into five major regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
Impact of COVID-19 Pandemic on Advanced Driver Assistance Systems (ADAS) Market
The COVID-19 pandemic had an immediate and devastating impact on the global automotive sector, which was already dealing with a downturn in global demand. China experienced disruptions in components shipments. Moreover, Europe and the US faced large-scale vehicle manufacturing disruptions alongside the shutdown of assembly lines in the Advanced Driver Assistance Systems (ADAS) industry. These effects are leading to further merger and acquisition activities. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA) figures, ~78 million mechanized vehicles were produced globally in 2020, down by 16% from the previous year. Autonomous car system providers discontinued the testing of their offerings. As investments in the ADAS systems are subjected to variations, a decrease in shared-mobility providers significantly hampered the Advanced Driver Assistance Systems (ADAS) market growth.
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; and Vector Informatik GmbH. are among the major companies operating in the market.
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