Global Advanced Driver Assistance Systems (ADAS) Market Insights Forecasts to 2032
- The Global Advanced Driver Assistance Systems (ADAS) Market Size was valued at USD 31.2 Billion in 2022.
- The Market is growing at a CAGR of 9.2% from 2022 to 2032
- The Worldwide Advanced Driver Assistance Systems (ADAS) Market is expected to reach USD 75.7 Billion by 2032
- North America is expected to grow the fastest during the forecast period
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The Global Advanced Driver Assistance Systems (ADAS) Market Size is expected to reach USD 75.7 Billion by 2032, at a CAGR of 9.2% during the forecast period 2022 to 2032.
Advanced driver assistance systems (ADAS) are a class of electronic parts used in automobiles that provide the driver with a smarter driving experience. These systems include laser, infrared, radar, image, ultrasonic, LiDAR, and image sensors, among others. The increased requirement for safer driving conditions improves customer demand for an assisted driving system, which drives the expansion of the ADAS industry. The advanced driver assistance system offers many benefits, including reduced property and life loss, lower accident rates, and so on. ADAS is a set of safety functions meant to improve pedestrian and passenger safety by reducing the number and severity of motor vehicle accidents. Advanced driver assistance systems advise the driver of potential danger and support the driver in stay in control in order to avoid or decrease the severity of an accident.
Global Advanced Driver Assistance Systems (ADAS) Market Report Coverage
|Market Size in 2022:||USD 31.2 Bn|
|Forecast Period:||2022 – 2032|
|Forecast Period 2022 – 2032 CAGR:||9.2%|
|022 – 2032 Value Projection:||USD 75.7 Bn|
|Historical Data for:||2020-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||150|
|Segments covered:||By System Type, By Component Type, By Vehicle Type and By Region.|
|Companies Covered:||Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, DENSO CORPORATION, Aptiv PLC, Valeo SA, Magna International Inc., Aisin Seiki Co. Ltd, Autoliv Inc., GENTEX CORPORATION, Harman International, Hyundai Mobis, NXP Semiconductor, Mobileye, Panasonic Corporation, Renesas Electronics Corporation and Others.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Strict government regulations and rising consumer demand for passenger safety will drive market expansion. Increased traffic accidents cause traffic congestion and unintentional deaths. Many surveys and analyses conducted by traffic departments in different countries revealed that driver irresponsibility and errors caused the majority of accidents. Moreover, in order to obtain vehicle authorization, automotive manufacturers must comply with regulations and obtain safety ratings from organizations such as the New Car Assessment Program (NCAP), the Insurance Institute of Highway Safety (IIHS), and the International Centre for Automotive Technology (ICAT). Thus, all of the government's safety rules and regulations are expected to boost the growth of the advanced driver assistance systems market in the future years. Consumer preferences are also helping the market develop in addition to government funding. In the future years, the increased demand for advanced systems such as road sign recognition systems, night vision systems, and sleepiness monitoring systems is likely to have an impact on overall market growth.
Malfunctioning and high initial costs may hamper the market growth. Despite the increased need for smart driver assistance systems in the automotive industry, manufacturers are modernizing their business models by heavily investing in ADAS technology to meet technical demands. Among the features of the car advanced driver help system are adaptive cruise control, automated emergency braking, and park assist. These cutting-edge technological solutions carry with them a number of technical challenges and complications.
By System Type Insights
The autonomous emergency braking (AEB) segment dominates the market with the largest revenue share over the forecast period.
On the basis of system type, the global advanced driver assistance systems (ADAS) market is segmented into adaptive cruise control, blind spot detection, park assist, lane departure warning system, autonomous emergency braking (AEB), forward collision warning, tire pressure monitoring, head-up display, intelligent headlights, e-call system, and others. The autonomous emergency braking (AEB) segment holds the largest market during forecast period. This system is in charge of slowing or stopping a vehicle before impact in order to avoid a collision by automatically applying the brakes. The global market for lane departure warning systems is ranked second. This technology supports the driver by maintaining the vehicle in its lane.
By Component Type Insights
The sensor segment is witnessing significant CAGR growth over the forecast period.
On the basis of component type, the global advanced driver assistance systems (ADAS) market is segmented into LiDAR, radar, camera, sensors, and others. Among these, the sensor to hold the fastest CAGR growth over the forecast period, owing to growing safety awareness and increasing number of accidents. Additionally, the rising number of accidents and rising safety awareness are important drivers of market expansion, resulting in higher demand for sensors in the market. The sensor category is expected to rise significantly in this market. Continuous data inputs from the surrounding vehicle generated by sensors are required for ADAS and automated vehicle operations. Everything from the visible to the unseen or unobserved is detected by the sensors. An extensive network of sensors installed into various vehicle components helps the ADAS monitor efficiently and swiftly.
By Vehicle Type Insights
The passenger car segment is expected to hold the rapid revenue growth of the global advanced driver assistance systems (ADAS) market during the forecast period.
Based on the vehicle type, the global advanced driver assistance systems (ADAS) market is classified into passenger car, light commercial vehicle, and heavy commercial vehicle. Among these, the passenger car segment is expected to grow at a rapid pace during the forecast period owing to the rising demand for advanced safety systems and vehicle electrification. Around the globe, greater urbanization, industrialization, and rising disposable incomes have resulted in increased automobile sales and production. Furthermore, governments are investing heavily in the development of sophisticated vehicle technologies. The rise in demand for passenger vehicles with enhanced safety, comfort, and efficiency is driving the advanced driver assistance system market forward.
Asia Pacific dominates the market with the largest market share over the forecast period.
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Asia Pacific market is expected to hold the largest market share during the forecast period. With the region's strong vehicle sales and production, as well as a considerable increase in the adoption of electric vehicles in China and Japan, Asia Pacific is expected to hold the greatest market share. Automotive OEMs intend to increase production volume and accelerate technology developments in manufacturing facilities in rising markets such as South Korea India, and others. Furthermore, lawmakers are eager to require ADAS technology in new automobiles. Significant growth in the use of electric vehicles in nations such as Japan and China, as well as rapid technological improvements in manufacturing units in emerging economies such as India and China, which dominating the market in Asia Pacific region.
North America is expected to grow fastest during the forecast period. The presence of major automobile manufacturing businesses, as well as the rapid adoption of advanced driver-aid systems in vehicles, are driving market expansion in this area. Regulators in the United States are making special efforts to incorporate ADAS as a safety standard by mandating ADAS features such as tire pressure monitoring systems (TPMS) and lane departure warning systems in new vehicles that will be released.
The European market is expected to hold the significant share due to strict government requirements established to reduce fuel pollution. The European Union is also taking steps to promote automobile safety measures.
List of Key Market Players
- Robert Bosch GmbH
- Continental AG
- ZF Friedrichshafen AG
- DENSO CORPORATION
- Aptiv PLC
- Valeo SA
- Magna International Inc.
- Aisin Seiki Co. Ltd
- Autoliv Inc.
- GENTEX CORPORATION
- Harman International
- Hyundai Mobis
- NXP Semiconductor
- Panasonic Corporation
- Renesas Electronics Corporation
Key Market Developments
- In April 2023, Robert Bosch, the 6G-ICAS4 mobility project was created by Robert Bosch GmbH in order to merge communication and radar systems into a single 6G system.
- In March 2023, ZF introduced a cutting-edge new electric power steering (EPS) system for trucks, coaches, and city buses. The EPS was designed to support steer-by-wire and level 5 autonomous driving. eWorX, ZF's electrified commercial vehicle power take-off (PTO) system for working on-board work equipment, was also displayed, which enables emission-free city and urban operation.
- In January 2021, Robert Bosch, to ensure a safe and enjoyable driving experience, Robert Bosch GmbH created a Ridecare solution for cars. This solution detects the odor of smoke, vehicle scratches, and dents.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global advanced driver assistance systems (ADAS) market based on the below-mentioned segments:
Advanced Driver Assistance Systems (ADAS) Market, System Type Analysis
- Adaptive Cruise Control
- Blind Spot Detection
- Park Assist
- Lane Departure Warning System
- Autonomous Emergency Braking
- Forward Collision Warning
- Tire Pressure Monitoring
- Head-Up Display
- Intelligent Headlights
- Forward Collision Warning
- E-Call System
Advanced Driver Assistance Systems (ADAS) Market, Component Type Analysis
Advanced Driver Assistance Systems (ADAS) Market, System Analysis
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Advanced Driver Assistance Systems (ADAS) Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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