The market for advanced driver assistance systems (ADAS) is expected to grow at a CAGR of around 19.3% from 2021 to 2028 and expected to reach the market value of around US$ 104.2 Bn by 2028.
Advance driver assistance systems commonly known as ADAS are a group of vehicle technologies that provide drivers with a smart, safe and comfortable driving experience. Such devices are much safer in terms of vehicle safety and traffic safety when programmed with a safe human computer interface. Most of the injuries are triggered by a human error, which lets ADAS adapt, optimize and improve safety and driving of automotive.
The report provides analysis of the global ADAS market for the period 2016-2028, wherein 2021 to 2028 is the forecast period and 2020 is considered as the base year.
|Market||Advanced Driver Assistance Systems (ADAS) Market|
|Analysis Period||2016 - 2026|
|Forecast Data||2019 - 2026|
|Segments Covered||By Solution, By Sensor, By End Use and By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Continental AG, Autoliv, Magna International, Texas Instruments, and TRW Automotive, and Others.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
The ADAS market growth will be driven by growing expectations for innovative sensor technologies in cars to avoid car accidents. Annual road deaths have accounted for over 1.35 Mn people (age 5-29) worldwide, the World Health Organization (WHO) estimates. Increased consumer understanding of automotive safety and security is encouraging the introduction of ADAS into automotive by manufacturers. The sector is affected favorably by stricter government regulations on protection of cars such as compulsory implementation of protective devices, including parking sensors and automatic emergency braking system (AEB).
Companies are manufacturing their cars with a wide range of features and technologies to satisfy buyers and boost sales. Technological developments in electronic components, such as wireless communication and cloud networks enabled sensors and smartphones give better knowledge on the atmosphere and improve the safety of customers. Dynamic advances in technology, such as the smart parking system, which allow cars park easily without a manual, night vision systems that are useful in places of little or no illumination, lane start system, and danger braking have improved the revenues of the vehicle industry.
Global Advanced Driver Assistance Systems (ADAS) Market Revenue (US$ Mn)
Asia-Pacific market among all regions is projected to be the fastest growing in the forecast timeframe. Rising urban development and the growing demand for APAC high-end cars are the main reasons for ADAS industry's high growth in the city. In the developed countries, too, passenger car sales are modest and the market for high-quality cars is on the rise. Such variables would increase ADAS production.
As a result of funding programs like EuroNCAP, Europe's ADAS industry will account for a significant volume share, encouraging the installation of ADAS. The compulsory implementation of multiple vehicle ADAS systems would enable the growth of the market over time. Therefore, government initiatives to raise awareness of ADAS would increase the size of the sector.
Key Market Players
The players profiled in the report include Participants include major global players such as Continental AG, Autoliv, Magna International, Texas Instruments, and TRW Automotive, and Others.
A variety of business events, such as product launches and alliances and agreements were involved in players on the global ADAS market. For eg, the electronic horizon launched by Continental in January 2015 was eHorizon. Product operation is based on the cloud sourcing concept, which establishes cars as moveable sensors and facilitates data transfers between the cloud and the vehicle. A cooperation agreement was signed with Safran in April 2015 for the development of autonomous vehicle driving assistance.
ADAS Market By Solution
Adaptive Cruise Control
Tire Pressure Monitoring System
Adaptive Front Lights
Blind Spot Detection System
Lane Departure Warning System
Autonomous Emergency Braking
ADAS Market By Sensor
ADAS Market By End Use
Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
Advance driver assistance systems provide drivers with a smart, safe and comfortable driving experience.
The market for advanced driver assistance systems (ADAS) is expected to reach a market value of around US$ 104.2 Bn by 2028.
The advanced driver assistance systems (ADAS) market is expected to grow at a CAGR of around 19.3% from 2021 to 2028.
The global ADAS market is segmented into solution, sensor, end use, and major geographic regions.
Factors such as growing expectations for innovative sensor technologies in cars to avoid car accidents restrain the ADAS market growth.
Continental AG, Autoliv, Magna International, Texas Instruments, and TRW Automotive are the top players operating in the ADAS market.
Asia Pacific held the highest market share in the advanced driver assistance systems (ADAS) market