Dublin, March 03, 2023 (GLOBE NEWSWIRE) -- The "ADAS Market by System (ACC, DMS, IPA, PDS< TJA, FCW,, RSR, LDW, AEB, BSD), Component (Camera, LiDAR, Ultrasonic, Radar), Vehicle Type, EV Type, Vehicle Class, Level of Autonomy, Offering, Sales Channel and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global ADAS market size is projected to grow from USD 27.2 billion in 2021 to USD 74.9 billion by 2030, at a CAGR of 11.9%. Safety features are an important prerequisite for automotive customers across the world. Governments across the world have mandated the incorporation of features such as lane departure warning (LDW) and automatic emergency braking (AEB). Different types of safety features have, therefore, been developed to assist drivers and lower the number of accidents.
Growing demand for safety and driving assistance systems likely to drive the growth of the ADAS market during the forecast period
The automotive industry is witnessing a rapid evolution of safety features, which is expected to increase exponentially in the coming years to provide a safer and more convenient driving experience. Major OEMs such as Toyota and Honda are launching vehicles with features such as blind spot detection, rear cross traffic, lane keep assist, forward collision warning, and automatic emergency braking as a standard. OEMs such as Cadillac, Tesla, Nissan, Honda, and Audi are currently developing L3 driving systems for their upcoming models. The increasing demand for sophisticated cruise control and driving comfort features has also fueled the safety systems market. Transforming a vehicle into a self-driving one could help reduce errors caused by drivers.
As per the NHTSA, the total number of fatalities due to road accidents in the US was 38,680 36,560 in 202018. ADAS could play a crucial role in reducing this number and lead to a safe, productive, and efficient driving experience. Active safety systems such as blind spot detection (BSD), automatic emergency braking (AEB), and lane departure warning (LDW) play a major role in automated driving technology today.
Demand for luxury vehicles will further strengthen the demand for ADAS during the forecast period. Several economies around the world have recovered from the 2008 recession. Higher growth rates have been observed in developing countries such as China and India, among others. The standard of living has also improved in developing countries, with a considerable rise in spending power. German auto brands such as Mercedes-Benz, BMW, and Audi dominate the global luxury car market.
The change in consumer preferences has increased the demand for better products, which has positively affected the sales of premium cars across the globe. For instance, major BMW's automotive division recorded growth in 2019, despite the slowdown in the global automotive market. The division registered a growth of 6.8% in 2019 due to increasing deliveries in the luxury cars segment. Its subsidiary, Rolls Royce, sold 5,100 units, an increase of 21.6%, compared to 4,194 units, a year earlier, while the production volume increased by 25.3%. Similarly, the group sold more BMW-branded vehicles in 2019 than in 2018. Safety innovations are first introduced in the luxury and premium car segments, and this rise in sales will act as a driver for the ADAS market.
North America is projected to play a major role in the ADAS market during the forecast period
The North American region has been studied for the US, Canada, and Mexico. The ADAS market in the region is projected to witness significant growth during the forecast period due to the higher penetration of ADAS features in most vehicles here. North American OEMs such as Ford Motors Co., General Motors Co., and Fiat-Chrysler Automotive, along with established European and Asian OEMs such as Toyota (Japan), Nissan (Japan), Honda (Japan), Hyundai/Kia (South Korea), BMW (Germany), and Volkswagen (Germany) offer ADAS features in vehicles.
The automotive industry, largely dominated by the US, is one of the most advanced. The US is considered one of the most lucrative markets for ADAS, as it has always been an innovation hub for global automakers. The country houses domestic OEMs such as General Motors and Ford as well as foreign automakers such as FCA Group, Volkswagen, Toyota, and Nissan. These OEMs invest heavily in megatrends, such as connected mobility and autonomous vehicles. Major automakers in the US offer ADAS as standard in most vehicles. According to the NHTSA, 12 OEMs already mandated AEB in 75% of their new passenger car vehicles for the period September 1, 2018, through August 31, 2019. Just 2 years ago, penetration was only 30%. More active initiatives by OEMs would further increase the demand for AEB systems in the country.
Market Dynamics
Drivers
- Increased Safety of Vehicles
- Comfort Features Associated with Adas
- Increasing Interest of Customers in Luxury Vehicles
- Integration of Radar and Cameras in Modern Cars
Restraints
- ADAS Infrastructure at Developing Stage
- Consumer Acceptance of Autonomous Cars
Opportunities
- Increasing Demand for Autonomous Vehicles
- Emergence of 5G Technology for Vehicles
- Increasing Adoption of IoT and GPS in ADAS
- Increasing Adoption of Electric Vehicles
- New Trends in Shared Automotive Mobility
- Huge Investments in Lidar Startups
Challenges
- Hight Cost of Integration
- Environmental Constraints and Security Threats
- Maintaining Balance Between Cost and Quality
- Lag in Real-Time Image Processing in Multi-Camera Systems
| Report Attribute | Details |
| No. of Pages | 478 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $27.2 Billion |
| Forecasted Market Value (USD) by 2030 | $74.9 Billion |
| Compound Annual Growth Rate | 11.9% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Adas Market, by Vehicle Class
7 Adas Market, by Level of Autonomy
7.1 Introduction
7.2 L1
7.3 L2
7.4 L3
7.5 L4
7.6 L5
8 Adas Market, by Vehicle Type
8.1 Introduction
8.2 Passenger Cars
8.3 Light Commercial Vehicles
8.4 Trucks
8.5 Buses
8.6 Key Primary Insights
9 Adas Market, by Electric Vehicle Type
9.1 Introduction
9.2 Battery Electric Vehicles
9.3 Fuel Cell Electric Vehicles
9.4 Hybrid Electric Vehicles
9.5 Plug-In Hybrid Electric Vehicles
9.6 Key Primary Insights
10 Adas Market, by System Type
10.1 Introduction
10.2 Adaptive Cruise Control
10.3 Adaptive Front Light
10.4 Automatic Emergency Braking
10.5 Blind-Spot Detection
10.6 Cross-Traffic Alert
10.7 Driver Monitoring System
10.8 Forward Collision Warning
10.9 Intelligent Park Assist
10.10 Lane Departure Warning
10.11 Night Vision System
10.12 Pedestrian Detection System
10.13 Road Sign Recognition
10.14 Tire Pressure Monitoring System
10.15 Traffic Jam Assist
11 Adas Market, by Component
11.1 Introduction
11.2 Camera Unit
11.3 Lidar
11.4 Radar Sensors
11.5 Ultrasonic Sensors
11.6 Infrared Sensors
12 Adas Market, by Sales Channel
12.1 Introduction
12.2 OEM
12.3 Aftermarket
13 Adas Market, by Offering
13.1 Introduction
13.2 Hardware
13.3 Software
14 Adas Market, by Region
15 Competitive Landscape
16 Company Profiles
17 Analyst's Recommendations
18 Appendix
Companies Mentioned
- Aisin Corporation
- Aptiv
- Autoliv
- Blackberry
- Continental Ag
- Denso
- Ficosa International Sa
- Hella
- Hitachi Automotive
- Hyundai Mobis
- Infineon Technologies Ag
- Intel
- Magna International
- Microsemi Corporation
- Nvidia
- Nxp Semiconductors
- Renesas Electronics Corporation
- Robert Bosch
- Samsung Electronics
- Texas Instruments
- Valeo
- Voxx International Corp
- Xilinx
- Zf Friedrichshafen
For more information about this report visit https://www.researchandmarkets.com/r/xibmmx
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