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Advanced Driver Assistance Systems Market Projected To Grow

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NEW YORK, United States, Nov. 24, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Advanced driver assistance system market/ ADAS Market Research Report: Information By Technology, Vehicle Type, Sensor Type – Forecast to 2030” forecasts that the global advanced driver assistance systems market will reach US$55 billion by 2027. MRFR also has a CAGR of 10% during the market valuation period (2022-2030).

Overview of the ADAS market

The advanced driver assistance systems market presents significant growth potential. It cites the growing demand for safety mechanisms and advances in autonomous and semi-autonomous vehicles. Advanced Driver Assistance Systems (ADAS) are seeing enormous traction around the world. In recent years, ADAS has attracted great attention in the market, so the market demand is continuously increasing. Advanced driver assistance systems use technologies such as human machine interfaces (HMIs), mobile security and telematics to help drivers monitor, brake and steer.

Advanced driver assistance systems play a key role in providing prompt warnings of approaching obstacles and hazards such as pedestrians, lane changes and short braking distances. Various government initiatives for vehicle and driver safety impose a number of regulations, obliging automakers to provide vehicles with safety features.

Some of the leading players in the global ADAS market include:

  • Hitachi, Ltd.
  • ZF Friedrichshafen AG
  • HELLA KGaA Hueck & Co.
  • Continental AG
  • Magna International Co., Ltd.
  • Valeo
  • Panasonic Corporation
  • Delphi Automotive LLP
  • Denso Corporation
  • and Robert Bosch Automotive Steering GmbH

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Advanced Driver Assistance Systems Market Segment

The Advanced Driver Assistance Systems market report is segmented into sensor type, technology, vehicle type, and region. The sensor type segment is sub-segmented into ultrasonic sensors, lidar sensors, camera sensors, radar sensors, and others.

The Technology segment is sub-segmented into Heads-Up Display, Blind Spot Detection, Drowsiness Monitor, Pedestrian Protection, Intelligent Parts Assist, Adaptive Cruise Control, and more. The vehicle type segment is sub-segmented into luxury vehicles, passenger vehicles, and commercial vehicles. The regional segment is sub-segmented into Europe, North America, Asia-Pacific, and Rest of the World.

Advanced driver assistance system market Reporting scope:

Reporting metrics detail
ADAS Market CAGR from 2022 to 2030 Ten%
base year 2021
weather 2022-2030
report coverage Earnings forecast, competitive environment, growth factors, trends
Main market opportunity Safety advanced driving support system
Detroit Advanced Driver Assistance Systems
key market drivers Growing needs for comfort while driving
Strict safety rules and regulations
Advances in various technologies

Read our in-depth market research report on the Advanced Driver Assistance Systems Market (page 123).

https://www.marketresearchfuture.com/reports/advanced-driver-assistance-systems-market-4434

industry trends

Advanced driver assistance systems play a causal role in reducing traffic accident and casualty rates while ensuring pedestrian safety. The ADAS market relies on increasing production in the automotive industry and trends in safety regulations, buyer preferences, and lifestyle. In addition, continued economic growth worldwide is boosting market demand and increasing consumer purchasing power.

In addition, increasing demand in the premium passenger vehicle segment and rising concerns over vehicle and driver safety are boosting the market growth. The introduction of safety and environmental regulations is also boosting the growth of the advanced driver assistance market. Other factors supporting the growth of the market are the various benefits offered by advanced driver assistance systems and the regulations mandating advanced driver assistance systems.

Luxury car manufacturers and dealers are shifting their focus from offline lead generation to online sales. This new approach to engaging potential buyers through digital channels has proven to be a game changer in market development. The ADAS market is gradually recovering as demand for luxury cars returns to normal.

Automated and cooperative driving integrated with intelligent transport systems (ITS), vehicle control and vehicle-to-vehicle communication (V2X) are expected to grow in popularity over the next decade. As the roads get busier by the day, so does the risk of driving. This has led to an increase in the implementation of advanced driver assistance systems among people.

Regional Analysis For Advanced Driver Assistance Systems Market

Asia Pacific dominates the global advanced driver assistance systems market. The market size is increasing due to factors such as the rapidly prospering luxury car market and increasing automobile production. Moreover, growing awareness of the benefits of ADAS will have a positive impact on market growth. Japan, China, South Korea, and India account for major shares of the regional market.

In addition, rising vehicle maintenance costs and safety concerns are creating enormous market demand. Rising demand for luxury cars and improving people’s lifestyles, alongside the region’s well-established automotive industry, offer great opportunities. APAC’s advanced driver assistance system market is expected to grow rapidly during the review period.

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Europe is another fast-growing market for advanced driver assistance systems. Government regulations mandating the use of ADAS are driving the global market exponentially. In addition, the presence of a large number of luxury car manufacturers in the region has increased the market value.

Also, increasing demand for technologically advanced vehicles in the region and stringent passenger car and vehicle safety regulations are supporting the revenue of the market. The European advanced driver assistance systems market is expected to grow significantly during the evaluation period.

Competitive Analysis of Advanced Driver Assistance Systems Market

The advanced driver assistance systems market looks highly competitive and fragmented. Many prominent players use their own technology. Players collaborate with other players to reduce development costs and market risks. ADAS providers are increasingly forming strategic partnerships and collaborations to benefit from each other’s marketing platforms.

  • For example, on November 21, 2022, electric vehicle manufacturer Sono Motors announced an expanded partnership with Continental. The company plans to equip its solar-powered Sion EV models with the system.
  • Continental AG will provide Sono Motors with futuristic ADAS technology as well as smart key and passive key access and collision sensor technology. Continental’s ADAS system is designed to ensure that Sion models meet the stricter European Union road safety regulations.
  • As another example, on November 18, 2022, Continental AG (Germany), a leading global manufacturer of automotive components and developer of automotive technology, announced that Ambarella’s scalable system-on-chip technology and advanced driver assistance systems and announced the integration of

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In the future, Continental will offer an ADAS solution based on the CV3 AI SoC from semiconductor company Ambarella. High performance, power efficient and scalable range of SoCs built for ADAS applications such as driver assistance and vehicle automation.

Related reports:

Driver assistance system market Research Information by Type, Technology and Region – Forecast to 2027

driver safety market Research Report: Information by Type, Vehicle Type and Region – Forecasts to 2030

Automotive driver condition monitoring system market By Technology, By Component, By Vehicle Type – Forecast to 2030

On the future of market research:

Market Research Future (MRFR) is a global market research firm that prides itself on providing complete and accurate analysis of diverse markets and consumers around the world. Market Research Futures has the express purpose of providing optimal quality research and in-depth research to its clients. Our market research studies of products, services, technologies, applications, end-users and market players in global, regional and country-level market segments enable our clients to see more, know more and do more. to help answer your most important questions. question.

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