• Stacy Lawlor

Advanced Driver Assistance System Market to grow $47 billion in 2028

The Global Advanced Driver Assistance System (ADAS) Market Size was valued at USD 22.5 billion in 2021. The market is projected to grow USD 47 billion in 2028, at a CAGR of 11.10%.

Advanced Driver Assistance System (ADAS) Market

The advanced driver assistance systems (ADAS) are designed to assist the driver by providing comfort, safety, and efficiency while driving and improve the passenger’s and driver’s security and safety. The cameras, sensors, radars, and software are the essential components that will help the system run properly. Artificial Intelligence plays a vital role in regards to advanced driver assistance systems (ADAS)technology. It has begun the disrupting force in different verticals such as automotive and especially autonomous vehicles. It is powered by data whereas the data is created to streamline the flow and customer experience.

The ADAS includes lane warning departure, blind-spot detection, adaptive cruise control, park assist, and autonomous emergency braking systems. Improving living standards and rapid urbanization and expansion in industrialization are positively impacting the market growth during the forecast period. The government has made it mandatory for automotive manufacturers to integrate different ADAS in all types of vehicles.

Advanced Driver Assistance System (ADAS) Market
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The COVID-19 pandemic has had an adverse effect on the global advanced driver assistance systems (ADAS) market. The major concern was the limited supply of vehicle parts along with the distribution channel which has impacted the automotive vertical due to trade and legal restrictions, closed borders, and shortage of required parts. Vehicle production and sales have been impacted badly owing to the decrease in new vehicle sales because implementing various curb measures such as curfew, closing manufacturing plants, dismissal of short-time workers. Although, the Covid-19 impact is coping with the current market. For instance, In April 2021, Toyota has acquired Lyft’s autonomous car division by expanding their product line and commercializing the autonomous vehicles under the Woven Planet, which is a subsidiary of Toyota.

Rising The Emergence of Self-Driving Vehicles

Advanced Driver Assistance System technologies have significantly reduced the complexity of driving, with features such as stability controls, emergency braking, lane monitoring, and others. Autonomous vehicles rely on advanced technologies and systems such as high-definition cameras LiDAR, ultrasonic sensors, and radar, to collect data. Waymo, Tesla, Ford, General Motors, and Volkswagen, plan to launch fully self-driving cars in the future. In March 2018, Nissan announced plans to launched ProPILOT in 20 models by 2022.

The government of several countries is spending a high amount to adopt advanced technologies, develop safety features and support the use of self-driving cars across the globe. Increasing adoption of autonomous cars and convenience and comfort, and reducing operating costs. Also, leading manufacturers are highly focused on the development of fully automated cars. This is also expected to drive growth in this market.

Most of the accidents are caused by driver’s negligence and errors. Every year around 1.3 million people lose their lives in road accidents across the globe. ADAS helps reduce road accidents and problems of traffic congestion and enhances the safety and security of vehicles, occupants, and pedestrians. Also, the government has made it mandatory for automotive manufacturers to integrate different advanced driving assistance systems in all types of vehicles.

The Asia-Pacific is the largest market for ADAS due to the growing consumer preference for advanced technology features. Major market players such as Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, GENTEX CORPORATION, Harman International, and others, are increasing investment in the research and development activity to expand production and achieve rapid technological advancement. Increasing demand for convenient driving experience and rising disposable income in emerging economies across the region are driving the market growth.

Europe is the second-largest market for ADAS due to the stringent government regulations imposed to curb fuel emissions. The government is also taking initiatives to encourage safety features in vehicles. The European Union (EU) announced co-operation on AI technology across the region is predicted to boost sales. Rising investment in the automotive industry to increase market share in this region.

Advanced Driver Assistance System (ADAS) Market
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North America is the third-largest market for ADAS due to the high growth in the automotive industry and manufacturing industry and the rapid adoption of such systems in vehicles is leveraging the regional market growth. Growing AI technologies and increasing government investment in self-driving cars have rising market share during the forecast period.

The global Advanced Driver Assistance System (ADAS) Market is segmented by System Type, Sensor Type, Vehicle Type, and Region. Based on the System Type, the market is categorized into 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, and Others. Based on Sensor Type, the market is categorized into Image Sensor, Lidar Sensor, Ultrasonic Sensor, Infrared (IR) Sensor, Radar Sensor, and Laser. Based on Vehicle Type, the market is categorized into Passenger cars, Light Commercial vehicles, Buses, and Trucks. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

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