An electronic system called advanced driving assistance (ADAS) provides the driver with comfort, efficiency, and safety. It improves the safety of passengers, drivers, and pedestrians while reducing traffic congestion and accidents on the road. It has radars, cameras, sensors, and accompanying software to help the systems operate more effectively. It also uses adaptive cruise control, blind-spot detection, autonomous emergency braking, park assistant, and artificial intelligence (AI).
The market worth of advanced driver assistance systems in 2021 was USD 23.44 billion, and it will be worth USD 75.23 billion by 2030, growing at a 13.83% CAGR during the forecast period.
Rising customer demands for safety and comfort features and rising demand for luxury and premium automobiles drive advanced driver assistance systems (ADAS) market value. Additionally, the ADAS market will increase due to government initiatives focused on enhancing passenger safety and reducing system and component costs.
Global population growth, rising income levels, and the expansion of the automobile industry are a few of the major causes driving ADAS system sales upward. Additionally, these technologies help automate and enhance automobiles for a better and safer driving experience, supporting market expansion. In addition, the rise in automobiles on the road has led to more accidents and traffic jams worldwide. As a result, governments worldwide are enforcing strict restrictions to improve car safety and reduce traffic accidents.
ADAS needs fundamental infrastructure to function properly, including well-maintained roads, lane markings, and GPS accessibility. The market expansion for advanced driver assistance systems (ADAS) is constrained in developing nations by a lack of infrastructure outside of urban areas and a lack of discipline or training in driving.
The awareness of ADAS in these markets might be raised by expanding it to fresh markets. The regional development in China and Europe, as well as the adoption of ADAS and electric vehicles for commercial vehicles, can all contribute to expanding the worldwide market. Nearly 80% of all new cars are currently available in the United Kingdom with at least one self-activating safety device, either as a standard feature or an add-on extra, according to the SMMT and JATO dynamics.
By Solution Type
Adaptive cruise control, park assistance, blind-spot detection, lane departure monitoring, autonomous emergency braking (AEB), tire pressure monitoring, adaptive front lighting, and others are the market segments based on solution type.
With a market share of 19.8%, the tire pressure monitoring system category topped the market in 2021. The growth of this segment is due to the low cost of these systems, which enables aftermarket adoption by small & medium car owners.
By Component Type
The market is divided into sensor, processor, software, and other segments based on component type.
In 2021, the sensors market segment accounted for more than 33% of total revenue. Due to the significant significance of this component in vehicle automation, the Lidar sensors market will grow rapidly. Sensors and their functional correctness are principally responsible for how well ADAS functions. Together, the sensors LIDAR, RADAR, ultrasonic, camera, and others carry out the required support and safety functions.
By Vehicle Type
The market is segmented into commercial and passenger vehicles based on the kind of vehicle.
In 2021, the passenger car segment ruled the market, with the largest share of more than 74%. The segment’s expansion is due to the rising consumer awareness of safety systems, supportive legislation, and raising standards for road safety in developing economies.
North America entirely ruled the market with 37.1% of the revenue share in 2021. The development of the automobile industry’s technology and the presence of significant businesses in the area are the main drivers of this region’s growth. Additionally, the region’s economy has grown along with the greater adoption rate of new technology. The market is growing because of the rising mortality rate and rise in high-end vehicle sales in nations like Canada and the U.S. in this region.
The Asia-Pacific regional market will increase at a CAGR of 19%. The expanded use of cutting-edge electronics and the substantial manufacture of automobiles in nations like Japan, China, and South Korea are two factors that have contributed to the region’s expansion.
- Renesas Electronics Corporation
- Jayson Electronics
- NXP Semiconductor
- Hyundai Mobs
- Panasonic Corporation
- Delhi Automotive PLC
- Mobileye N.V
- Harman International
- GENTEX CORPORATION
- Continental AG
- Aisin Seiki Co. Ltd.
- Magna International Inc.
- Aptiv PLC
- Valeo SA
- DENSO CORPORATION
- ZF Friedrichshafen
- Robert Bosch GmbH
- Autoliv Inc.
The market worth of advanced driver assistance systems in 2021 was USD 23.44 billion, and it will be worth USD 75.23 billion by 2030, growing at a 13.83% CAGR during the forecast period. The development of autonomous vehicles, expanding advancements in autonomous shared mobility, and the growing uptake of electric vehicles will offer major potential for market participants.