Advanced Driver Assistance Systems (ADAS) Global Market Report 2024

Advanced Driver Assistance Systems (ADAS) are passive or active electronic systems specifically designed to mitigate human error during vehicle operations. These systems employ a diverse range of technologies to assist drivers during their journeys and enhance overall driving performance. Sensors such as radar and cameras play a crucial role in providing information to the driver or taking automatic actions to prevent injuries and fatalities resulting from car accidents.

The main types of ADAS include the 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. The Adaptive Front-Lighting System involves electronics or sensor-based systems designed to adjust vehicle lights based on factors such as vehicle speed and steering input. ADAS offerings typically include hardware and software components. These systems find applications in various vehicle types, including passenger vehicles, commercial vehicles, buses, and trucks.

The advanced driver assistance systems (ADAS) market research report is one of a series of new reports that provides advanced driver assistance systems (ADAS) market statistics, including advanced driver assistance systems (ADAS) industry global market size, regional shares, competitors with an advanced driver assistance systems (ADAS) market share, detailed advanced driver assistance systems (ADAS) market segments, market trends and opportunities, and any further data you may need to thrive in the advanced driver assistance systems (ADAS) industry. This advanced driver assistance systems (ADAS) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The advanced driver assistance systems (adas) market size has grown rapidly in recent years. It will grow from $37.22 billion in 2023 to $43.59 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth observed in the historic period can be attributed to several factors, including an increased focus on vehicle safety, regulatory mandates for safety features, rising consumer awareness, the integration of ADAS in premium vehicles, and the growing complexity of modern vehicles. These factors collectively contributed to the adoption and development of Advanced Driver Assistance Systems (ADAS) during that period.

The advanced driver assistance systems (adas) market size is expected to see rapid growth in the next few years. It will grow to $79.47 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%. The anticipated growth in the forecast period can be attributed to several factors, including the growing demand for semi-autonomous and autonomous vehicles, the need for accurate and efficient diagnosis of problems to reduce repair times and costs, increasing investment in Artificial Intelligence (AI) for ADAS, and the integration of Vehicle-to-Everything (V2X) communication. Key trends expected in the forecast period encompass the development of AI-based driver monitoring systems, the expansion of Augmented Reality (AR) in head-up displays, enhanced connectivity with advanced sensors, the evolution of automated parking systems, and the integration of machine learning for improved decision-making in ADAS. These trends reflect the ongoing advancements and innovations in the field of Advanced Driver Assistance Systems.

The advanced driver assistance systems (ADAS) market is experiencing growth driven by increasing government regulations mandating ADAS implementation in vehicles. Governments worldwide are enforcing regulations that require vehicles to be equipped with ADAS to enhance driving convenience and safety for both drivers and commuters. An example of such regulations is the introduction of new rules in the European Union (EU) in July 2022, which mandate new vehicles to be equipped with ADAS to improve road safety. This regulation aims to enhance the overall safety of motor vehicles and protect vehicle occupants and vulnerable road users, contributing to a reduction in the number of road accidents. The growing trend of government regulations enforcing the mandatory inclusion of ADAS in vehicles is a significant driver for the ADAS market.

The adoption of autonomous vehicles is another factor propelling the growth of the ADAS market. Autonomous vehicles, also known as self-driving or driverless vehicles, rely on advanced technology and systems, including ADAS, to operate and navigate without direct human input. ADAS features such as emergency braking and blind-spot monitoring contribute to the safety of passengers and pedestrians in autonomous vehicles. According to a report by Carsurance in February 2022, the autonomous vehicle industry is projected to grow by 16% annually. The increasing adoption of autonomous vehicles is a key driver for the growth of the ADAS market.

Technological advancements play a crucial role in the ADAS market, with major companies focusing on developing new technological solutions to strengthen their positions. Next-generation ADAS technologies, including sensor fusion, embedded vision, human-machine interface (HMI), software infrastructure, and AUTOSAR, are being implemented into products. For example, in September 2021, ZF Friedrichshafen, a German-based company, launched a high-performance Mid-Range Radar (MRR), representing a next-gen advancement in the ADAS tech market. The MRR is designed to meet safety ratings and enable semi-automated driving functions, showcasing the continuous efforts to introduce innovative technologies in the ADAS market.

Major companies in the advanced driver assistance systems (ADAS) market are focusing on product innovation, integrating advanced technologies such as the Sportage PHEV, to deliver reliable services to customers. The Sportage PHEV is a plug-in hybrid crossover SUV featuring a 261-horsepower turbo hybrid engine and all-wheel drive as standard. Kia Corporation, a South Korean-based automobile manufacturer, launched the Sportage PHEV in February 2021. This vehicle incorporates advanced driver assistance systems (ADAS), including a 360-degree surround-view monitor with a 3D view and a live-feed blind-spot view monitor within the instrument cluster. The Sportage PHEV is equipped with an Anti-Lock Brake System (ABS) that utilizes electronic sensors at each wheel hub to detect wheel skidding.

In June 2021, Magna International Inc., a Canada-based manufacturer and developer of advanced mobility technologies, acquired Veoneer, Inc., for $3.8 billion. This strategic acquisition expands Magna's ADAS product portfolio and industry position, providing access to new customers and regions, including Asia. Additionally, the acquisition grants Magna access to engineering and software expertise in areas such as sensor perception and drive policy software. Veoneer, Inc., based in Sweden, is a manufacturer and developer of automotive safety technologies.

Major companies operating in the in the advanced driver assistance systems (adas) market report are Continental AG, Nippon Denso Co. Ltd., Magna International, Robert Bosch GmbH, NXP Semiconductors NV, ZF Friedrichshafen AG, Autoliv Inc., Valeo SA, Mobileye Global Inc., Hella KGAA Hueck & Co., Aisin Corporation, Infineon Technologies AG, Hyundai Precision Co. Ltd., Aptiv plc, Gentex Corporation, Texas Instruments Inc., STMicroelectronics NV, Renesas Electronics Corporation, ON Semiconductor Corp, Analog Devices Inc., Melexis NV, Ambarella Inc., Nvidia Corporation, Intel Corporation, Qualcomm Inc., Samsung Electronics Co. Ltd., LG Corporation, Panasonic Corporation, Sony Corporation, Neural Propulsion Systems Inc.

North America was the largest region in the ADAS market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the advanced driver assistance systems (adas) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the advanced driver assistance systems (adas) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The advanced driver assistance systems (ADAS) market consists of sales of adaptive cruise control, glare-free high beam and pixel light, adaptive light control, automatic parking, autonomous valet parking and navigation system. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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