The global advanced driver assistance systems (ADAS) market size reached USD 44.62 billion in 2022 and predicted to touch USD 158.24 bn by 2032, growing at a CAGR of 13.8% from 2023 to 2032.
Ket Takeaway:
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.
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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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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 Highlights
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.
Key Players & Strategies
The global ADAS market is highly competitive and still is moderately concentrated. Continental AG, Magna international, Hyundai Mobis and Autoliv Inc. held the noticeable revenue share in ADAS market in 2019. Some of the major players observed and covered in the report are Denso, Aptiv, Robert Bosch, Continental AG, Magna International, Veoneer, Hyundai Mobis, ZF Friedrichshafen, Valeo, NVIDIA, Intel, Microsemi Corporation, Nidec Corporation, Hella, Texas Instruments, Infineon Technologies AG, Hitachi Automotive and Renesas Electronics Corporation amongst others.
By System Type
By Sensor Type
By Vehicle Type
By Geography
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