Advanced Driver Assistance System (ADAS) Market Overviews
Advanced Driver Assistance System (ADAS) Market size was valued at US$ 29.80 Billion in 2023 and the total Advanced Driver Assistance System (ADAS) Market revenue is expected to grow at 16.5% through 2024 to 2030, reaching nearly US$ 86.79 Billion.
Almost all vehicle crashes are caused by human error, which can be avoided with Advanced Driver Assistance Systems (ADAS). The role of ADAS is to prevent deaths and injuries by reducing the number of auto accidents and the severity of those that cannot be avoided.
Safety-critical ADAS applications include:
Pedestrian detection/avoidance
Lane departure warning / correction
Traffic sign recognition
Automatic emergency brake
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Advanced Driver Assistance System (ADAS) Market Scope and Methodology:
The increase in road accidents has increased the demand for safety features such as parking assistance, collision avoidance systems, lane departure warning, traction control, electronic stability control, tire pressure monitoring, airbags and telematics. Vehicles with the ADAS system installed can detect and classify specific objects on the road, alert the driver depending on road conditions, and in some cases automatically slow down or stop the vehicle. Mortality from road accidents has increased significantly. The World Health Organization reports that about 1.25 million people die each year in road accidents. In addition, the number of fatal road accidents is higher among teens. These factors are driving demand for vehicle safety features. Automotive companies are developing and implementing safety features to meet their customers' needs. Therefore, the high demand for safety features will drive the growth of the advanced driver assistance system (ADAS) market.
Advanced Driver Assistance System (ADAS) Market Regional Insights
China, South Korea and Japan have the largest share of the advanced driver assistance system (ADAS) market in the Asia Pacific region. Growth in the Asia-Pacific market is due to increased automotive production and increased use of advanced electronics in Japan, South Korea and China. Recognizing the growth potential of the automotive industry, the governments of these countries have taken various initiatives to encourage large OEMs to enter the domestic market. Several Western automakers, such as Volkswagen (Germany), Mercedes-Benz (Germany) and General Motors (USA), have relocated their production facilities to developing countries.
Advanced Driver Assistance System (ADAS)Market Segmentation
Leading OEMs integrate ADAS solutions to achieve higher security ratings and attract more customers. Therefore, standardize safety systems across models or provide them as an additional feature. Increased safety awareness and an increase in the number of accidents are the main factors for the growth of the ADAS market, and the demand for radar sensors is increasing in major countries such as China, the United States and Europe. The Federal Communications Commission (FCC) and the European Telecommunications Standards Institute (ETSI) limit the use of 24GHz radar in the 5GHz band. The 24 GHz band will no longer be available in Ultra Wide Band (UWB) after 2022. Major OEMs and Tier 1 auto parts manufacturers are migrating to long-range 77 GHz radar to improve reliability and regulatory compliance. This should increase the demand for radar sensors in the advanced driver assistance system (ADAS) Market. In addition, increasing attention to collision avoidance systems in semi-automatic driving systems is expected to increase the demand for radar sensors during the forecast period.
Advanced Driver Assistance System (ADAS) Market Key Players
Hyundai Mobis (South Korea)
Veoneer (Sweden)
Robert Bosch (Germany)
Continental AG (Germany)
Denso (Japan)
Aptiv (UK)
ZF Friedrichshafen (Germany)
Autoliv Inc. (Sweden)
NXP Semiconductors (Netherlands)
Panasonic Corporation (Japan)
Renesas Electronics Corporation (Japan)
Texas Instruments (USA)
Delphi Automotive Company (USA)
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Key questions answered in the Advanced Driver Assistance System (ADAS) Market are:
- What is Advanced Driver Assistance System (ADAS) ?
- What was the Advanced Driver Assistance System (ADAS) market size in 2023?
- What is the growth rate of the Advanced Driver Assistance System (ADAS) Market?
- Which are the factors expected to drive the Advanced Driver Assistance System (ADAS) market growth?
- What are the different segments of the Advanced Driver Assistance System (ADAS) Market?
- What growth strategies are the players considering to increase their presence in Advanced Driver Assistance System (ADAS) ?
- What are the upcoming industry applications and trends for the Advanced Driver Assistance System (ADAS) Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Advanced Driver Assistance System (ADAS) Market?
- Who are the leading companies and what are their portfolios in Advanced Driver Assistance System (ADAS) Market?
- What segments are covered in the Advanced Driver Assistance System (ADAS) Market?
- Who are the key players in the Advanced Driver Assistance System (ADAS) market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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