Global ADAS Market Expected to Reach $ 28.80 Million by 2030 | Business Intelligence Insights (BII)

Publisher Name : Business Intelligence Insights (BII) Publish Date : 2022-01-20  

     

As per Business Intelligence Insights (BII) study, the Global ADAS Market attained revenue growth of USD 26.80 million in 2021 and it is projected to reach around USD 51.78 million by 2030, growing at a 11.60% CAGR.

The Advanced Driver Assistance Systems Market encompasses the growing global demand for passenger cars and commercial vehicles, as well as the incorporation of ADAS features into these vehicles. Investments done by component manufacturers and software providers to establish their presence, and market shares players operating in the market. Growing production of vehicles with integrated ADAS features in response to rising passenger comfort and safety awareness, as well as government regulations mandating safety features, are expected to drive market demand. Furthermore, the growing acceptance of self-driving or automated vehicles contributes to the market's increased growth. The global automotive industry's dynamics are also rapidly changing. Mid-priced cars are outfitted with basic components that have been designed and manufactured in accordance with consumer preferences.

Governments around the world are focusing on developing a variety of legislative policies and regulations to monitor users, as well as policies mandating and encouraging consumers to install ADAS components in vehicles in order to reduce rising road accidents in a variety of countries. Some governments focus on mandating specific ADAS features across all vehicles operating in their region, while others focus on designing and implementing standards for ADAS features and their associated specifications to improve vehicle performance. Manufacturers of ADAS are collaborating with OEMs to develop and manufacture low-cost DAS, which is expected to help manufacturers achieve economies of scale and, as a result, lower ADAS prices. This move by major automakers is expected to result in increased ADAS implementation in low-cost vehicles in the coming years. A consistent increase in demand for compact and mid-sized automobiles with advanced safety features is also expected to drive the growth of the automotive ADAS market.

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Global ADAS Market: Companies Mentioned

•  Robert Bosch (Germany)
•  Continental AG (Germany)
•  Denso (Japan)
•  Aptiv (UK)
•  ZF Friedrichshafen (Germany) 
•  Valeo (France)
•  Magna International (Canada)
•  Hyundai Mobis (South Korea)
•  Veoneer (Sweden)

Key Highlights of the Report:

•  On the basis of System, the ADAS market is segmented into Adaptive Cruise Control (ACC), Adaptive Front Light (AFL), Automatic Emergency Braking (AEB), Blind Spot Detection (BSD), Cross Traffic Alert (CTA), Driver Monitoring System (DMS), Forward Collision Warning (FCW), Intelligent Park Assist (IPA), Lane Departure Warning (LDW), Night Vision System (NVS), Pedestrian Detection System (PDS), Road Sign Recognition (RSR), Tire Pressure Monitoring System (TPMS) and Traffic Jam Assist (TJA). Adaptive Cruise Control (ACC) System will have the largest ADAS market share due to the growing demand for premium and luxury vehicles. It is an active safety system that regulates the acceleration and braking of a vehicle. The system is activated by pressing a button on the steering wheel, and it can be deactivated in the same manner or by applying the brakes manually. The Park assist system commands the third-largest market share. The primary reasons for its market dominance are its low cost, simple installation process, and application in a wide range of vehicles. The parking assistance system detects objects in the vicinity of the vehicle and assists the driver in easily parking. During the forecast period, the variety of alternatives provided by OEMs and aftermarkets will drive the growth of the park assist system market.

•  On the basis of Vehicle Type, the market is segmented into Passenger Car, Light Commercial Vehicle, Truck and Bus. Due to rising demand for advanced safety systems and vehicle electrification, the passenger car segment contributes significantly to the market. The increasing urbanization, industrialization, high demographic growth, and rise in disposable incomes have resulted in an increase in vehicle sales and production around the world. Furthermore, governments make significant investments in the development of advanced technologies in the automotive sector. The advanced driver assistance systems (ADAS) market is being propelled by rising demand for passenger vehicles with improved safety features, comfort, and driving efficiency.

 Asia Pacific is expected to have the largest market share with 37% due to high vehicle sales and production in the region, as well as a significant increase in the adoption of electric vehicles in countries such as China and Japan. Automobile OEMs intend to increase production volume and make rapid technological advances in manufacturing facilities in emerging markets such as China, India, and others. These countries' governments have recognized the automotive industry's growth potential and have taken various initiatives to encourage major OEMs to enter their domestic markets. The Asia Pacific market is growing as a result of increased vehicle production and advanced electronics use in Japan, South Korea, and China.

•  The report contains qualitative and quantitative research on the global ADAS Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

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Revenue-generating Segment Highlights

By System
•  Adaptive Cruise Control (ACC)
•  Adaptive Front Light (AFL)
•  Automatic Emergency Braking (AEB)
•  Blind Spot Detection (BSD)
•  Cross Traffic Alert (CTA)
•  Driver Monitoring System (DMS)
•  Forward Collision Warning (FCW)
•  Intelligent Park Assist (IPA)
•  Lane Departure Warning (LDW)
•  Night Vision System (NVS)
•  Pedestrian Detection System (PDS)
•  Road Sign Recognition (RSR)
•  Tire Pressure Monitoring System (TPMS)
•  Traffic Jam Assist (TJA)

By Component
•  Camera Unit
•  LiDAR
•  Radar Sensor
•  Ultrasonic Sensor
•  Infrared Sensor

By Offering
•  Hardware
•  Software

By Electric Vehicle
•  Battery Electric Vehicles (BEV)
•  Hybrid Electric Vehicles (HEV)
•  Plug-in Hybrid Electric Vehicle (PHEV)
•  Fuel Cell Electric Vehicle (FCEV)

By Level of Autonomy
•  L1
•  L2
•  L3
•  L4
•  L5

By Vehicle Type
•  Passenger Car
•  Light Commercial Vehicle
•  Truck
•  Bus

By Region
•  North America
o  U.S.
o  Canada
•  Europe 
o  Germany
o  U.K.
o  France
o  Italy
o  Spain
o  Rest of Europe
•  Asia Pacific 
o  China
o  India
o  Japan
o  Rest of Asia Pacific
•  Latin America 
o  Brazil
o  Mexico
o  Rest of Latin America
•  Middle East and Africa 
o  UAE
o  South Africa
o  Rest of Middle East and Africa (MEA)

Ready to generate outstanding revenue opportunities with Business Intelligence Insights (BII)’ exclusive Global ADAS Market study. Highlights of the overall market will be included in the research, as well as frequently asked questions such as –

•  What are the historical and projected revenue figures, as well as the CAGR, for the forecast period?
•  What is the current trend taking place in the market space?
•  What are the business techniques that will influence competitive scenarios as well as the market's growth potential?
•  What market drivers, restraints, and challenges are influencing market demand and growth?
•  In the approaching years, which regions and segments will generate significant revenue and emerge as industry leaders?

The Global ADAS Market report's competitive scenario examines, assesses, and positions firms based on a variety of performance characteristics. The financial performance of organizations over the last few years, growth plans, product innovations, new product launches, investments, market share growth, and so on are some of the elements analysed in this research. Don't wait any longer; take a comprehensive approach and achieve your business objectives with our Global ADAS Market Forecast Report 2022- 2030 – Order Now!

About us

Business Intelligence Insights is the global provider of market intelligence, consultancy services, and syndicated & customized reports. We are focused on assisting business leaders and suppliers in making decisions by providing timely and insightful market research and consulting services. We offer global, and regional expertise in technology, industry, opportunities, trends, industry analysis, market data, and strategic guidance. Our analysis and insight help business professionals, executives, and investors make fact-based technology decisions and achieve their key business objectives. Our reports are featured distinct research approaches, rigorous methodologies, and comprehensive sector coverage.

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