Advanced Driver Assistance System (ADAS) Market Size Worth US$ 158.24bn by 2032

The global advanced driver assistance systems (ADAS) market was valued at USD 44.62 billion in 2022 and is expected to reach US$ 158.24 bn by 2032, growing at a CAGR of 13.8% from 2023 to 2032.

Key Takeaway

• By component type, the lidar sensors segment accounted for 34% of the market share in 2021.
• The software segment is expanding at a notable CAGR of 19.4% from 2022 to 2030.
• By vehicle type, the commercial car segment is expanding at a CAGR of 17.3%.
• By solution type, the tire pressure monitoring system segment has accounted market share of over 20.7% in 2021.
• The autonomous emergency braking segment is poised to reach at a CAGR of 21.5% during the forecast period.

Advanced driver assistance systems (ADAS) are one of the fastest growing applications in the automotive sectors. The main aim of ADAS feature creation is to make roads safer and better suited to fully autonomous vehicles in the long run. However, manufacturers and buyers should not underestimate the importance of ADAS in meeting current automotive challenges. The most important effect of advanced driver assistance systems is the provision of critical knowledge to drivers and the automating of difficulties. The ADAS market is rising rapidly, and so is the growth of the ADAS algorithm. A variety of algorithms are used to power life-saving systems. Among them, vision and image processing algorithms are real game changers for the creation of ADAS applications.

Advanced driver assistance systems (ADAS) continue to grow as it not only provide enhanced passenger experienced, but also provide the driver with maximum and safety. ADAS technology using FPGA / SoCs and automotive sensors can be based on systems locally to the car, i.e. “vehicle resident systems” such as vision / camera, to allow improved situational awareness and control to make driving easier and safer.The largest and most common connected system used today by consumers is a car.

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Growth Factors

The growth of advanced driver assistance systems (ADAS) market is mainly driven by growing demand for safety and driving comfort features paired with demand for luxury vehicles. In addition, rising demand for electric vehicles (EV), ongoing development in sensor technology and demand to integrate ADAS in premium car are some of the factors predicted to influence the growth of ADAS in analysis period. Furthermore, stringent rule and regulations for vehicle safety is expected to flourish the growth of the advanced driver assistance systems (ADAS) market in analysis period. On the contrary, lack of required road infrastructure in developing region is expected to limit the growth of advanced driver assistance systems (ADAS) market in near future. Nonetheless, growing market for autonomous vehicles across the globe is expected to open up new alluring opportunities for market players in near future. Despite the slowdown in vehicle sales caused by the COVID-19 pandemic, current safety rule and regulations will definitely increase the penetration of ADAS features in future vehicles.

Report Scope of the Advanced Driver Assistance Systems (ADAS) Market

Report Highlights

• Europe and North America together held the majority of revenue share in 2019.The growth of these regions is mainly attributed to better road infrastructure facilities, higher adoption rate of new technologies and presence of key market participant.
• Stringent rules and regulations by various countries such as AEB and LDW for in France and South Korea, L3 driving system development in Canada is predicted to shape the market for global ADAS market in analysis period.
• The passenger car segment held the majority of revenue share in 2019 and accounted over 64% of the overall market and is also projected to emerge as the fastest-growing vehicle type segment in years to come.
• Regulations on frequency and bandwidth are estimated to support the growth of radar sensor segment in near future.
• Asia is anticipated to be fastest growing region for global ADAS market and is likely to grow at a CAGR of 14.8% in forecast period. China, Japan and South Korea governments have acknowledged the automotive industry’s growth potential, and have taken numerous measures to enable major OEMs to enter their domestic markets. According to our analyst, China is predicted to remain the global leader in electric vehicle production, with a 55% volume share in 2030.

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Regional Snapshots

Europe and North America held the majority of revenue share in 2019. Ongoing developments in autonomous driving coupled with demand for light truck vehicle is expected to propel the demand for ADAS market in North America region. Japan, China and South Korea are expected to be key revenue contributing countries in the Asia Pacific region. Standardization of ADAS structures by Japanese OEM is predicted to surge the demand for ADAS in Japan market.Some of the countries from rest of world market participants such as Brazil, Mexico and UAE are expected to follow growth trends slowly.

Some of the recent activities by market players are as follows:

• In July, 2021, Magna International Inc. acquired Veoneer, a leader in automotive safety technology to strengthen and broaden its ADAS portfolio and industry position.
• In April, 2021, Denso Corporation developed advanced driver assistance products for new Lexus LS, and Toyota Mirai.
• ZF released ZF co ASSIST, a Level 2 + automated driving system, in January 2020, which is the first venture into the Level 2 + modular hardware and software suite and highlights the capabilities of ZF as a complete system supplier. From 2020 ZF will be equipping production vehicles for a major Asian manufacturer with this new ZF system.
• Veoneer was chosen to have active safety services based on next-generation vision and radar systems in February 2020. Veoneers versatile system has been developed to achieve Euro NCAP 5-star safety ratings and include many driver assistance features such as highway assistance, adaptive cruise control stop and go, traffic sign recognition, lane centering control, automatic emergency braking and automated high beam control.
• In July 2020, Arbor unveiled an Advanced Driver Assistance System (ADAS) and fleet management Rockchip PX30-based telematics device with an 8-inch touchscreen that aims primarily to improve bus safety.
• July 2020, Canadian ADAS (advanced driver assistance systems) company LeddarTech announced that it is acquiring Israeli company VayaVision, the maker of an autonomous vehicle vision sensor based platform.
• July 2020, for its advanced ADAS calibration frame systems, the Regular Calibration System and the MA600 Mobile Calibration System, Autel US has launched three calibration enhancement packages that extend vehicle and application coverage of these calibration solutions.
• In February 2020, Continental AG built a new plant for the manufacturing of radar sensors in Texas, US.

Some of the prominent players in the ADAS market include:

• Denso
• Aptiv
• Robert Bosch GmbH
• Continental AG
• Magna International
• Veoneer
• Hyundai Mobis
• ZF Friedrichshafen
• Valeo
• NVIDIA
• Intel
• Microsemi Corporation
• Nidec Corporation
• Hella
• Texas Instruments
• Infineon Technologies AG
• Hitachi Automotive
• Renesas Electronics Corporation

Segments Covered in the Report

 By System Type

• Intelligent Park Assist (IPA)
• Lane Departure Warning (LDW)
• Road Sign Recognition (RSR)
• Tire Pressure Monitoring System (TPMS)
• Night Vision System (NVS)
• Automatic Emergency Braking (AEB)
• Adaptive Cruise Control (ACC)
• Adaptive Front Light (AFL)
• Blind Spot Detection (BSD)
• Cross Traffic Alert (CTA)
• Driver Monitoring System (DMS)
• Forward Collision Warning (FCW)
• Others

By Sensor Type

• Image Sensors
• Ultrasonic Sensors
• LiDAR
• Radar Sensors
• Infrared (IR) Sensors
• Laser Sensors

By Vehicle Type

• Passenger Car
• Light Commercial Vehicle
• Truck
• Bus

By Level of Autonomy

• L1
• L2
• L3
• L4
• L5

By Electric Vehicle

• Battery Electric Vehicles (BEV)
• Hybrid Electric Vehicles (HEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
• Fuel Cell Electric Vehicle (FCEV)

By Geography

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Malaysia
  • Philippines
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East & Africa (MEA)
  • GCC
  • North Africa
  • South Africa
  • Rest of the Middle East & Africa