Farmington, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The Global Advanced Driver Assistance System Market Size Was Valued at USD 12.9 Billion In 2022 And Is Expected To Expand at a CAGR of 18.2% From 2022 to 2030. New cars are coming with more and more advanced driver assistance systems (ADAS). Almost all car accidents that could have been avoided with ADAS are caused by mistakes made by people. The goal of ADAS is to keep people from getting hurt or killed by reducing the number of car accidents and the severity of those that can't be avoided. Forward Collision Warning (FCW) and Automatic Emergency Braking (AEB) are two examples of features that are meant to warn the driver or help them do their job. These ADAS features are meant to make driving safer or easier, but they don't take the place of the driver. The growth of the market for advanced driver assistance systems (ADAS) is affected by these things.
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Recent Developments:
- Continental plans to build a new plant for advanced driver assistance systems in the United States in May 2022. A new plant is being built to produce radar sensors in New Braunfels, Texas. The total investment amount is about since Continental is a major player in the ADAS market; the company's global expansion will meet the overall demand.
- In September 2021, Robert Bosch Investment Ltd. worked with Hycan Automobile Technology to develop an automated valet parking system. Hycan Z03 will be equipped with this technology. This is also Hechuang Automobile's first attempt at applying this advanced technology to a mass-produced vehicle.
Regional Outlook:
Over the past few years, Europe and North America have become the most important parts of the global ADAS market. In 2020, they will account for more than 70% of the global revenue share. In the near future, the ADAS market is expected to be driven by the number of people who use new technologies and the number of big companies that are already in the market. More than 60 million cars in the U.S. have ADAS technology. This is because more and more customers and cars want ADAS features. Customers are starting to ask some stores to add aftermarket systems to their cars.
In the next few years, the Asia-Pacific region is expected to have the fastest-growing ADAS market, with a CAGR of 14.8%. In the coming years, the Asia-Pacific Advanced Driver Assistance Systems (ADAS) market is expected to get most of its money from Korea, China, and Japan. Several big companies that make ADAS solutions, such as Robert Bosch, Continental, and Denso, have factories in the area.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 18.2% from 2023 to 2030. |
| Revenue Forecast by 2022 | USD 12.9 billion |
| By Vehicle Type | Passenger Cars, Commercial Vehicles, Other |
| By Sensor | Ultrasonic sensor, Lidar sensor, Camera sensor, Radar sensor, Others |
| By Application | Head-up displays, Drowsiness monitors, Blind-spot detection, Pedestrian protection, Adaptive cruise control, Intelligent part aid, Others |
| By Companies | Denso, Aptiv, Robert Bosch GmbH, Continental AG, Magna International, Veoneer, Hyundai Mobis, ZF Friedrichshafen, Valeo, NVIDIA, Intel, Microsemi Corporation, Nidec Corporation, Hella, Texas Instruments, Infineon Technologies AG, Hitachi Automotive, Renesas Electronics Corporation |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Drivers:
The ADAS market will grow because more people will learn how safe a car is and because the use of cameras and radars will lower the cost of parts. OEMs (original equipment manufacturers) are using ADAS solutions to improve safety ratings and attract more customers. Because of this, the top OEMs either make all of their safety systems the same or sell them as extras. So, over the next few years, there will be more demand for parts like cameras, radar sensors, ultrasonic sensors, and LiDAR as advanced driver assistance systems become more common.
Market Opportunity:
People's commutes to work might change when cars drive themselves. ADAS technologies have made driving much easier by adding things like lane monitoring, emergency brakes, stability controls, and more. Autonomous vehicles gather information by using high-tech tools like LiDAR, radar, ultrasonic sensors, and high-definition cameras. This information is used by a smart system in the car that drives itself to move the car safely. Tesla, Volkswagen, Ford, General Motors, and Waymo all plan to sell self-driving cars in the next few years. In March 2018, Nissan said that ProPILOT would be in 20 models by 2022. If OEMs paid more attention to autonomous driving systems, they could add more cruise control and more advanced safety systems to semi-autonomous cars.
Key Segments Covered:
Top Market Players:
Denso, Aptiv, Robert Bosch GmbH, Continental AG, Magna International, Veoneer, Hyundai Mobis, ZF Friedrichshafen, Valeo, NVIDIA, Intel, Microsemi Corporation, Nidec Corporation, Hella, Texas Instruments, Infineon Technologies AG, Hitachi Automotive, Renesas Electronics Corporation, and others.
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Other
By Sensor
- Ultrasonic sensor
- Lidar sensor
- Camera sensor
- Radar sensor
- Others
By Application
- Head-up displays
- Drowsiness monitors
- Blind-spot detection
- Pedestrian protection
- Adaptive cruise control
- Intelligent part aid
- Other
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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