The global Advanced Driver Assistance Systems Market estimated to be worth USD 55 Billion by 2030, registering a 10% CAGR during the forecast period (2022- 2030).
An Advanced Driver Assistance System means a wide array of active and passive technologies designed to support the driver in comfort, safety, and efficiency. The safety of drivers, passengers, and pedestrians has been improved due to these measures. Sensors, cameras, radars, and software play a major role in the vehicle's precise operation. ADAS features involve autonomous emergency braking, blind-spot recognition, adaptive cruise control, park assist, and lane departure warning. The automotive industry has extensively benefitted from artificial intelligence (AI).
The growth of the advanced driver assistance systems (ADAS) market is primarily attributed to growing consumers preferences for safety and comfort features and boosting demand for premium and luxury cars. Further, government initiative for passenger safety and decreasing system and component expenditure is estimated to fuel the demand for the ADAS market. Increasing awareness about vehicle safety ratings and reducing component expenses due to the wide application of cameras and radars are prominent growth factors for the ADAS market. Major original equipment manufacturers are gripping ADAS solutions to achieve higher safety ratings to obtain traction among consumers. Thus, the surging penetration of advanced driver assistance systems properties is growing the demand for components such as LiDAR, ultrasonic sensors, cameras, and radar sensors during the forecast period.
Regional Analysis
The global Advanced Driver Assistance Systems Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East Africa.
Europe and North America emerged as a commendatory region for the worldwide ADAS market in the past few years and obtained over 70% of the global revenue share in 2020.
Asia Pacific is anticipated to emerge as the fastest-growing market for ADAS in the coming years and is expected to grow at a CAGR of 14.8%. South Korea, China, and Japan are anticipated to become major revenue contributors for ADAS in the Asia Pacific advanced driver-assistance systems (ADAS) market in the coming years.
Market Segmentation
The global Advanced Driver Assistance Systems Market is segmented into the following types;
By System Type
- Intelligent Park Assist (IPA)
- Lane Departure Warning (LDW)
- Road Sign Recognition (RSR)
- Tire Pressure Monitoring System (TPMS)
- Night Vision System (NVS)
- Automatic Emergency Braking (AEB)
- Adaptive Cruise Control (ACC)
- Adaptive Front Light (AFL)
- Blind Spot Detection (BSD)
- Cross Traffic Alert (CTA)
- Driver Monitoring System (DMS)
- Forward Collision Warning (FCW)
- Others
By Sensor Type
- Image Sensors
- Ultrasonic Sensors
- LiDAR
- Radar Sensors
- Infrared (IR) Sensors
- Laser Sensors
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Truck
- Bus
By Level of Autonomy
- L1
- L2
- L3
- L4
- L5
By Electric Vehicle
- Battery Electric Vehicles (BEV)
- Hybrid Electric Vehicles (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Fuel Cell Electric Vehicle (FCEV)
Key Players
The global Advanced Driver Assistance Systems Markets prominent key players areZF Friedrichshafen AG, Hitachi Ltd., HELLA KGaA Hueck Co., Magna International Inc, Continental AG, Valeo, Panasonic Corporation, DENSO CORPORATION, Delphi Automotive LLP, Robert Bosch Automotive Steering GmbH.
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