Over the forecast period of 2022-2032, the advance driver assistance system market is expected to grow at a CAGR of 9.6% to reach a valuation of US$ 131,069.1 Mn by 2032.
Almost all vehicles accidents are caused by human error, which can be avoided with advance driver assistance system (ADAS). The role of ADAS is to prevent deaths and injuries by reducing the number of car accidents and serious impact of those that cannot be avoided. ADAS manufacturers/ developers have developed systems focusing their efforts on making driving experience safer and having human less human interference. As a result, the advance driver assistance system industry is predicted to grow steadily in the future.
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Strict regulations imposed on car manufacturers by various government bodies around the world promoting passenger safety will aid overall growth of the market. During the forecast period, growth in the automotive industry, combined with rising government initiatives to adopt advanced technologies, develop increasingly structured safety features, and a rising trend of government and consumer adoption of autonomous vehicles will open new revenue paths for the global ADAS market.
During the forecast period, the global ADAS market will benefit from an increase in per-capita consumer spending power in developing economies, as well as an increase in demand for premium and luxurious features in their vehicles. However, high initial costs and an increase in malfunctioning components may limit the global ADAS market growth. Nonetheless the market is predicted to grow due to rising demand from emerging countries such as China, India, Germany and others.
Key Takeaways from Market Study
- By ADAS type, night vision system (NVS) sales are expected to grow at a CAGR of 9% in global market.
- By technology type, ultrasonic sensor and radar sensor segment is expected to lead with a market share of more than 0%.
- By vehicle type, the passenger vehicle segment will dominate the market with more than 71% of the market share.
- In terms of region, South Asia and Pacific is predicted to exhibit a CAGR of 12.4%.
“The swift expansion of the automotive sector has resulted in an increase in car production, accelerating the growth of the advance driver assistance system market. The market will gain traction in response to the rising demand for safe care driving and implementation of regulations ascertaining improved road safety.” says a Future Market Insights analyst.
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ADAS Market by Category
- Adaptive Cruise Control (ACC)
- Automotive Emergency Braking (AEB)
- Adaptive Front Light (AFL)
- Blind Spot Detection (BSD)
- Driver Monitoring System (DMS)
- Forward Collision Warning (FCW)
- Lane Departure Warning (LDW)
- Night Vision System (NVS)
- Park Assist (PS)
- Tire Pressure Monitoring System (TPMS)
- Ultrasonic Sensor
- Lidar Sensor
- Radar Sensor
- Camera Sensor
- Infrared Sensor
- Pressure Sensor
By Sales Channel:
- Original Equipment Manufacturer (OEM)
By Vehicle Type:
- Passenger Vehicle
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
- Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
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Advance Driver Assistance System Market Competitive Landscape
Among the industry’s key players are Texas Instruments Incorporated, Intel Corporation, NVIDIA Corporation, Robert Bosch GmbH, Continental AG, Magna International, Mobileye and others.
Manufacturers in the global advance driver assistance system market are focusing on the development of new ADAS type with decreased human interference and increased accountability.
About FMI – Automotive and Transportation
The Automotive and Transportation division of FMI provides exclusive coverage and actionable insights about automotive and transportation industry encompassing automotive, aviation, shipping and marine, and railway sector. Market findings and competition intelligence of OEM, aftermarket, services and technology landscape have helped numerous industry stakeholders’ right from automakers, component manufacturers, channel partners and service providers in taking informed decisions and keeping them up-to-date with market behavior.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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