According to the report the global advanced driver assistance systems (ADAS) market reached a value of about USD 34.28 billion in 2022. Aided by the rapid advancements in vehicle technology, stringent safety regulations, and increasing consumer demand for smarter vehicles, the market is projected to further grow at a CAGR of 17.30% between 2023 and 2028 to reach a value of approximately USD 88.98 billion by 2028.
Advanced Driver Assistance Systems (ADAS) is a collection of systems used in vehicles to provide an intelligent and responsive driving experience. These systems encompass a wide range of safety features such as lane departure warnings, adaptive cruise control, parking assistance, and automated emergency braking. Through these systems, ADAS aims to enhance driving safety and improve the overall driving experience, offering significant potential in reducing road accidents.
A primary force driving the global advanced driver assistance systems (ADAS) market growth is the increasing emphasis on road safety. With the alarming statistics of road traffic accidents worldwide, there is a heightened focus on incorporating technological solutions to mitigate these risks. Consequently, ADAS, with its capabilities of providing real-time safety alerts and intervention mechanisms, stands as a beacon in this endeavour.
Additionally, the automotive industry has been undergoing a transformation with the rise of autonomous vehicles. As self-driving cars are inching closer to becoming a mainstream reality, the demand for advanced driving systems, such as ADAS, has skyrocketed. These systems form the foundational layer for autonomous driving, making them indispensable in the evolving landscape of the automotive sector.
Beyond the realm of safety and automation, consumer preferences have played a pivotal role in shaping the advanced driver assistance systems (ADAS) market outlook. The modern consumer is increasingly seeking vehicles equipped with the latest tech offerings, including sophisticated driver assistance tools. This demand, coupled with the dropping prices of sensors and components used in ADAS, has led to the democratisation of these advanced systems, which were once reserved for luxury vehicles.
Several industries are intertwining with the ADAS market's growth. For instance, the semiconductor industry is witnessing an uptick in demand as ADAS systems rely heavily on high-quality chips for efficient functioning. Similarly, the software industry's role is crucial in ensuring that these systems deliver optimal performance, thereby demanding sophisticated algorithms and coding structures.
Geographically, while Europe and North America account for a significant portion of the advanced driver assistance systems (ADAS) share due to early tech adoption and stringent road safety regulations, Asia-Pacific is showcasing significant potential. Backed by its booming automotive industry, growing infrastructure investments, and rising consumer purchasing power, the region is poised to be a substantial growth driver in the coming years.
These high-quality, data-driven analysis provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of our these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Advanced Driver Assistance Systems (ADAS) is a collection of systems used in vehicles to provide an intelligent and responsive driving experience. These systems encompass a wide range of safety features such as lane departure warnings, adaptive cruise control, parking assistance, and automated emergency braking. Through these systems, ADAS aims to enhance driving safety and improve the overall driving experience, offering significant potential in reducing road accidents.
A primary force driving the global advanced driver assistance systems (ADAS) market growth is the increasing emphasis on road safety. With the alarming statistics of road traffic accidents worldwide, there is a heightened focus on incorporating technological solutions to mitigate these risks. Consequently, ADAS, with its capabilities of providing real-time safety alerts and intervention mechanisms, stands as a beacon in this endeavour.
Additionally, the automotive industry has been undergoing a transformation with the rise of autonomous vehicles. As self-driving cars are inching closer to becoming a mainstream reality, the demand for advanced driving systems, such as ADAS, has skyrocketed. These systems form the foundational layer for autonomous driving, making them indispensable in the evolving landscape of the automotive sector.
Beyond the realm of safety and automation, consumer preferences have played a pivotal role in shaping the advanced driver assistance systems (ADAS) market outlook. The modern consumer is increasingly seeking vehicles equipped with the latest tech offerings, including sophisticated driver assistance tools. This demand, coupled with the dropping prices of sensors and components used in ADAS, has led to the democratisation of these advanced systems, which were once reserved for luxury vehicles.
Several industries are intertwining with the ADAS market's growth. For instance, the semiconductor industry is witnessing an uptick in demand as ADAS systems rely heavily on high-quality chips for efficient functioning. Similarly, the software industry's role is crucial in ensuring that these systems deliver optimal performance, thereby demanding sophisticated algorithms and coding structures.
Geographically, while Europe and North America account for a significant portion of the advanced driver assistance systems (ADAS) share due to early tech adoption and stringent road safety regulations, Asia-Pacific is showcasing significant potential. Backed by its booming automotive industry, growing infrastructure investments, and rising consumer purchasing power, the region is poised to be a substantial growth driver in the coming years.
Market Segmentation
The market can be divided based on offering, sensor type, system type, level of autonomy, distribution channel, vehicle type, and region.Market Segmentation
- Hardware
- Software
Market Segmentation
- Image Sensor
- LiDAR Sensor
- Ultrasonic Sensor
- Infrared (IR) Sensor
- Radar Sensor
- Laser
Market Segmentation
- Adaptive Cruise Control System
- Automatic Emergency Braking System (AEBS)
- Adaptive Front Lighting System
- Blind Spot Object Detection System
- Driver Monitoring System (DMS)
- Forward Collision Warning System (FCWS)
- Intelligent Parking Assist System (IPAS)
- Lane Departure Warning System (LDWS)
- Night Vision System
- Road Sign Recognition System (RSRS)
- Tyre Pressure Monitoring System (TPMS)
- Traffic Jam Assist System (TJAS)
- Others
Market Segmentation
- Level 1
- Level 2 and Level 3
- Level 4
- Level 5
Market Segmentation
- OEM
- Aftermarket
Market Segmentation
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Market Segmentation
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global advanced driver assistance systems (ADAS) market. Some of the major players explored in the report are as follows:- Robert Bosch GmbH
- Continental AG
- DENSO Corporation
- Magna International Inc.
- ZF Friedrichshafen AG
- Autoliv Inc.
- NXP Semiconductors
- Others
About the Publisher
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.These high-quality, data-driven analysis provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of our these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market15 Value Chain Analysis17 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Snapshot
8 Global Advanced Driver Assistance Systems (ADAS) Market Analysis
9 North America Advanced Driver Assistance Systems (ADAS) Market Analysis
10 Europe Advanced Driver Assistance Systems (ADAS) Market Analysis
11 Asia Pacific Advanced Driver Assistance Systems (ADAS) Market Analysis
12 Latin America Advanced Driver Assistance Systems (ADAS) Market Analysis
13 Middle East and Africa Advanced Driver Assistance Systems (ADAS) Market Analysis
14 Market Dynamics
16 Competitive Landscape
List of Key Figures and Tables
Companies Mentioned
- Robert Bosch GmbH
- Continental AG.
- DENSO Corporation
- Magna International Inc.
- ZF Friedrichshafen AG
- Autoliv Inc.
- NXP Semiconductors
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 183 |
| Published | September 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 40.07 Billion |
| Forecasted Market Value ( USD | $ 88.98 Billion |
| Compound Annual Growth Rate | 17.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
