Advanced Driver Assistance Systems (ADAS) Market Size, Share, Growth 2032

Advanced Driver Assistance Systems (ADAS) Market Insights

According to Zion Market Research, the global Advanced Driver Assistance Systems (ADAS) Market was worth USD 34.40 Billion in 2023. The market is forecast to reach USD 109.24 Billion by 2032, growing at a compound annual growth rate (CAGR) of 13.7% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Advanced Driver Assistance Systems (ADAS) Market industry over the next decade.

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Advanced Driver Assistance Systems (ADAS) Market: Overview

Advanced Driver Assistance Systems or popularly known as ADAS are the electronic systems which are installed in cars to help drivers in driving and parking the vehicle. ADAS systems uses automated technologies such as the sensors, detectors and high-resolution cameras which detect the environment and roads and acts accordingly. ADAS depends on inputs from multiple data sources which includes LiDAR, automotive imaging, image processing, in-car networking, and computer vision. The ADAS systems had helped in reducing on-road accidents and save the people’s life and vehicle damage.

Advanced Driver Assistance Systems (ADAS) Market: Growth Factors

Every year around 1.3 million people lose their lives in road accidents occurring across the globe. The governments are spending massive amount of money on the adoption of the advanced technologies which have enhanced safety features so as to save the lives of people. The persistent ascent in the quantity of vehicles on street prompting expanded number of gridlocks and mishaps in one of the significant development factors for the ADAS business.

The ADAS system is known for its greater precision, lesser chances of mishappening and greater convenience. With the use of Artificial Intelligence, Mapping technology, Machine learning has led to almost negligible error providing safety and security to drivers and passengers and to curb the road fatalities. This is ultimately surging the demand for ADAS in the automotive industry.

Advanced Driver Assistance Systems (ADAS) Market: Segment Analysis

The Adaptive Cruise Control System is a feature that automatically adjusts the speed of vehicle to maintain the safe distance from other vehicles. This is also known as Dynamic cruise control. Tire Pressure Monitoring System (TPMS), Drowsiness Monitor System, Intelligent Parking Assist System (IPAS), Blind Spot Object Detection System, Lane Departure Warning System, Adaptive Front-lighting System, and others form the system type segment.

The Radar have the major contribution in the ADAS market during the forecast period. Increased number of mishaps on road and growing safety measures has resulted in increased demand for radar sensors in countries such as US, China, and major European countries. Addition to which, demand for the radar sensors during the forecast period was boosted with the increase focus on collision avoidance systems in autonomous driving systems. Camera Unit, LiDAR, Ultrasonic Sensor, Infrared Sensor, and others form the component type segment.

The passenger car segment makes the major contribution to the ADAS market. With the ever-increasing demand for safety norms on road is attributed towards improving road safety standards, consumer awareness, and supporting legislations. Various developed nations such as Europe, Asia Pacific, and North America have made the rules and laws regarding ADAS bit flexible for the passenger car segment. The developed nations such as South Korea and Japan have mandated the AEB and LDW systems for all passenger vehicles from January 2019. Light Commercial Vehicle, Buses, Trucks, and others form the component type segment.

Advanced Driver Assistance Systems (ADAS) Market: Report Scope

Advanced Driver Assistance Systems (ADAS) Market: Regional Analysis

This is attributable to the presence of few developed nations such as South Korea and Japan and developing nations as China and India in the region. The escalated use of advanced electronics and huge production of vehicle in Japan, South Korea is also one of the major factors. There is tremendous potential for the ADAS market in the region and the governments grabbed the opportunity and have taken various initiatives to encourage the OEMs to do the business in their markets.

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For instance, TPMS was mandated in China in 2019 and every needs to be equipped with TPMS. In the same regard Chinese government updated the vehicle policies, established new energy departments and made changes in monetary and fiscal policies.

Key Market Players & Competitive Landscape

Some of key players in ADAS market are

• Continental AG
• Autoliv Inc
• Magna International Inc
• DENSO Corporation
• ROBERT BOSCH STIFTUNG GMBH (ROBERT BOSCH GMBH)
• Panasonic Corporation
• Mobileye N.V
• Renesas Electronics Corporation
• NVIDIA Corporation
• Texas Instruments
• Delphi Automotive Company
• Hyundai Mobis
• Takata Corporation
• Valeo
• NXP Semiconductors
• ZF Friedrichshafen
• Stonkam Co
• Aisin Seiki Co., Ltd
• Harman International Industries
• Hitachi Ltd

The global advanced driver assistance systems (ADAS) market is segmented as follows:

By System

• Tire Pressure Monitoring System (TPMS)
• Drowsiness Monitor System
• Intelligent Parking Assist System (IPAS)
• Adaptive Cruise Control System
• Blind Spot Object Detection System
• Lane Departure Warning System
• Adaptive Front-lighting System
• Others

By Component

• Camera Unit
• LiDAR
• Radar Sensor
• Ultrasonic Sensor
• Infrared Sensor

By Vehicle

• Passenger Car
• Light Commercial Vehicle
• Buses
• Trucks

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa