Report Code : BII974 Jan-2022 Automotive & Transportation Format : PDF Pages : 202
Advanced driver assistance systems offer numerous benefits, including reduced property and life loss, lower accident rates, and so on. ADAS is made up of safety functions that are intended to improve pedestrian and passenger safety by reducing the number and severity of motor vehicle accidents. Advanced driver assistance systems warn the driver of potential dangers and assist the driver in maintaining control in order to avoid or reduce the severity of an accident. Factors such as increased demand for safety features and increased demand for comfort while driving fuel the growth of the ADAS market. Furthermore, strict safety rules and regulations are expected to drive market growth. However, the high initial cost and complex structure, as well as lower efficiency in bad weather conditions, limit the size of the ADAS market. Furthermore, technological advancements in advanced driver assistance systems and multifunctional system production are expected to provide a significant growth opportunity for ADAS Market Leaders. During the forecast period, all of the aforementioned factors will have a significant impact on the global market. The increased need for safer driving conditions increases customer demand for assistive driving systems, which propels the growth of the ADAS market.
Due to an increase in the number of road accidents worldwide, there is a demand for safety features such as parking assistance, collision avoidance systems, lane departure warnings, traction control, electronic stability control, tyre pressure monitors, airbags, and telematics. Vehicles equipped with an ADAS system can detect and classify certain objects on the road, alert the driver based on road conditions, and sometimes even decelerate or stop the vehicle automatically. The high cost of installing applications in vehicles may limit the growth of the Advanced driver assistance systems market, as this factor raises the cost of the vehicle. The possibility of including premium features in vehicles incurs additional costs for consumers in the form of hardware, applications, and telecom service fees.
According to Business Intelligence Insights “Global ADAS Market is expected to grow from USD 26.80 million in 2021 to USD 51.78 million by 2030, at a CAGR of 11.60% during the forecast period 2022-2030
Major automakers have halted manufacturing in afflicted areas as a result of the COVID-19 outbreak. Furthermore, OEMs have begun to phase out manufacturing in major sites due to a drop in car demand and supply concerns with auto components. The majority of OEMs have responded by suspending manufacturing till further notice. Most countries have comparable illness progression trends; however, flattening the curve and disease containment are primarily dependent on the diverse efforts implemented by each country. Because of the pandemic's combined effects and the worldwide oil price fall, investments fell substantially in the first half of 2021, particularly in the energy sector. Export growth has also slowed significantly. However, the industry is likely to rebound in the second half of 2021, if there is no new pandemic wave and governments are able to promptly limit the spread and restart normal operations.
Adaptive Cruise Control (ACC) category dominated the market with more than 30% of the market share
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). Due to the growing demand for premium and luxury vehicles, Adaptive Cruise Control (ACC) System will have the largest ADAS market share. It is an active safety system that controls a vehicle's acceleration and braking. The system is activated by pressing a button on the steering wheel, and it can be deactivated similarly or by manually applying the brakes. The Park assist system is the third-largest market share holder. Its low cost, simple installation process, and application in a wide range of vehicles are the primary reasons for its market dominance. The parking assistance system detects objects around the vehicle and assists the driver in parking easily. The variety of alternatives provided by OEMs and aftermarkets is propelling the growth of the park assist system market during the forecast period.
Radar sensors category dominated the market with more than 40% of the market share
On the basis of Component, the market is segmented into Camera Unit, LiDAR, Radar Sensor, Ultrasonic Sensor and Infrared Sensor. Due to rising safety awareness and road accidents, radar sensors will have the largest market share. Radar sensors are used in a variety of systems, including emergency braking and adaptive cruise control. It is also expected to be the component type with the fastest growth over the forecast period. Furthermore, the growing number of accidents and increased safety awareness are key drivers for market growth, resulting in increased demand for radar sensors in many countries. The sensor segment is expected to grow significantly in this market. Continuous data inputs from the surrounding vehicle provided by sensors are required by driver assistance systems and automated vehicle functions. Everything from the visible to the unseen or unnoticed is detected by the sensors.
Segmentation of the Global ADAS Market:
By System
By Component
By Offering
By Electric Vehicle
By Level of Autonomy
By Vehicle Type
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)
World map title will be here...
Asia Pacific dominated the market with more than 37% of the market share
Due to high vehicle sales and production in the area, as well as a considerable increase in the adoption of electric vehicles in countries such as China and Japan, Asia Pacific is expected to have the greatest market share. Automobile manufacturers intend to increase production volume and make quick technology advances in manufacturing facilities in rising markets like China and India. The governments of these countries have recognized the automotive industry's potential for expansion and have taken various steps to entice major OEMs to enter their domestic markets. High vehicle production and greater use of modern electronics in Japan, South Korea, and China are driving market expansion in Asia Pacific.
Report Attributes |
Details |
---|---|
Market Size Value in 2021 | USD 26.80 Million |
Market Size Value in 2030 | USD 51.78 Million |
Growth Rate | +11.60% |
Base Year | 2021 |
Forecast Period | 2021-2030 |
Historical Data | 2018-2020 |
Forecast Units | (USD Million) |
Countries Covered | North America: U.S and Canada Europe: Germany, France, Italy, U.K, Spain, Russia, Rest of Europe APAC: China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific Latin America: Brazil, Mexico Middle East And Africa: Saudi Arab, South Africa, UAE |
Segments Covered | By System, By Component, By Offering, By Electric Vehicle, By Level of Autonomy, By Vehicle Type, By Region |
Competitive landscape | Leading companies, Competitive strategies and Consumer engagement scope |
Customization is available | If our report does not contain the information you require, you can contact our experts to have segments created for you. Please contact us at sales@businessintelligence-insights.com if you have any questions |