Advanced Driver Assistance System (ADAS) Market Size Report - Outlook & Forecast 2028

Advanced Driver Assistance System Market Size and Forecasts (2020-2030), Global and Regional Share, Trends, and Growth Opportunity Analysis, Report Coverage: Sensor Type (Image Sensor, LiDAR, Ultrasonic Sensor, Infrared Sensor, and Others), Technology Type (Adaptive Cruise Control, Blind Spot Detection System, Park Assistance, Lane Departure Warning System, Tire Pressure Monitoring System, Autonomous Emergency Braking, and Others), Vehicle Type (Passenger Car, Commercial Vehicle)

Publication Month : Jun 2022

  • Report Code : TIPTE100000129
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 207
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[Research Report] The Advanced Driver Assistance Systems (ADAS) market is expected to grow from US$ 43,138.44 million in 2021 to US$ 183,814.84 million by 2028; it is estimated to grow at a CAGR of 25.4% from 2022 to 2028.

Analyst Perspective:

The global advanced driver assistance system market has witnessed significant growth and transformation in recent years, driven by technological advancements, increasing safety concerns, and the pursuit of enhanced driving experiences. This dynamic market segment encompasses a wide range of technologies and features to assist drivers in various ways, from improving safety to enhancing convenience and comfort.

One of the primary drivers behind the market growth is the increasing focus on safety. With road accidents continuing to pose a significant threat to public health and safety, Advanced Driver Assistance System (ADAS) have become crucial. Features such as lane-keeping assist, adaptive cruise control, and automatic emergency braking have gained widespread adoption as they help reduce the risk of accidents caused by human error. Furthermore, the proliferation of advanced Advanced Driver Assistance System (ADAS) (ADAS) is changing how consumers interact with vehicles. These systems rely on sensors, cameras, and machine learning algorithms to give drivers real-time feedback, making navigating easier. These technologies are being integrated into both luxury vehicles and mid-range and economy vehicles, expanding their reach across various consumer segments.

As the market continues to evolve, it faces certain challenges. The complexity of ADAS systems can lead to higher costs, and there are concerns about their reliability in all conditions. Moreover, data privacy and cybersecurity issues are becoming increasingly important as these systems gather and process vast amounts of data.

Market Overview:

The global Advanced Driver Assistance System market has grown substantially over recent years, driven by the ever-increasing demand for advanced safety features and enhanced driving experiences. The Advanced Driver Assistance System (ADAS) are a group of functionalities and technologies designed to aid and augment the capabilities of drivers in various ways, ultimately contributing to safer and more convenient driving.

The primary goal of advanced driver assistance system (ADAS) is to improve road safety by reducing the likelihood of accidents, primarily those caused by human error. They achieve this through a combination of sensors, cameras, and radar technologies that continuously monitor the vehicle's surroundings and provide real-time feedback to the driver. Some common features of driving assistance systems include adaptive cruise control, lane-keeping assist, automatic emergency braking, and blind-spot monitoring. These systems work together to assist the driver in maintaining a safe following distance, staying within the lane, and avoiding collisions.

The working of these systems is centered on data acquisition, processing, and actuation. Various sensors and cameras around the vehicle collect data about the road conditions, nearby objects, and the vehicle's status. This data is then processed by onboard computer systems, which use sophisticated algorithms to interpret it and make decisions. For instance, adaptive cruise control uses radar to measure the distance to the vehicle in front, adjusting the speed to maintain a safe following distance. Similarly, lane-keeping assist employs cameras to detect lane markings and gently steer the vehicle to keep it within the lane if the driver starts to drift.

As technology advances, Advanced Driver Assistance System (ADAS) capabilities are expanding, becoming increasingly integral to modern vehicles. While these systems undoubtedly enhance safety and driver convenience, there are still challenges to address, including the cost of implementation, system reliability, and cybersecurity concerns.

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Advanced Driver Assistance System Market: Strategic Insights

advanced-driver-assistance-systems-market
Market Size Value inUS$ 43,138.44 Million in 2021
Market Size Value byUS$ 183,814.84 Million by 2028
Growth rateCAGR of 25.4% from 2021 to 2028
Forecast Period2022-2028
Base Year2021
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Market Driver:

Increased Demand for Safety to Drive Growth of Advanced Driver Assistance System Market

The global Advanced Driver Assistance System market is on an upward trajectory, largely driven by the increasing regulatory emphasis on road safety. Governments worldwide have recognized advanced driver assistance system’s (ADAS) critical role in reducing accidents and saving lives. The statistics provided by various government agencies highlight the importance of the road safety situation and the need for advanced safety technologies. In the United States, the National Highway Traffic Safety Administration (NHTSA) reported that in 2021 there were 42,939 fatalities from motor vehicle crashes. These figures highlight the pressing need for innovative solutions to mitigate the human error that often contributes to road accidents. As a result, government bodies in the U.S. and many other countries are stepping up their efforts to mandate and encourage the integration of advanced driver assistance system (ADAS) in new vehicles. For instance, in 2022, the European Union made some basic advanced driver assistance features mandatory in passenger cars and vehicles. This regulatory push, coupled with growing public awareness and demand for safer vehicles, is a key driver in the growth of the global Advanced Driver Assistance System market. The automotive industry's future is combined with developing and integrating these advanced safety systems as they continue to reduce the economic burden associated with road accidents.

Segmental Analysis:

Based on vehicle type, the market is segmented into passenger cars and commercial vehicles. Among these, passenger car is growing rapidly, with rising demand for the production of premium luxury vehicles around the globe. Also, the rising sale of vehicles with the surge in the disposable income of people in countries such as the US and India are driving the market growth. The passenger vehicle sales in India witnessed a year-on-year growth of approximately 25% from the previous year to reach 3.8 million in 2022. Further, the growing adoption of electric vehicles in China is another factor supporting the market growth. As per the China Association of Automobile Manufacturers, EV sales in China witnessed a 93.4% growth compared to 2021.

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Regional Analysis:

The advanced driver assistance system (ADAS) market in the Asia Pacific region is experiencing continuous growth, and several factors contribute to this remarkable expansion.

One of the primary reasons for the accelerated growth of the Advanced Driver Assistance System market in Asia Pacific is the proactive stance taken by governments in the region. Governments increasingly recognize advanced driver assistance system’s (ADAS) critical role in enhancing road safety and mitigating the severe traffic challenges of rapid urbanization and population growth in many countries. For example, in Japan, where the road safety record is relatively strong, the government is still proactive in promoting the Advanced Driver Assistance System. The National Police Agency Japan, has been supporting the development and implementation of these systems. Japan has launched initiatives like the "Connected Car Roadmap" to encourage the adoption of advanced technologies, including the Advanced Driver Assistance System, to enhance safety and reduce traffic accidents. This has led to a steady increase in vehicles equipped with Advanced Driver Assistance System (ADAS) in the Japanese market.

Furthermore, the continuously growing automotive industry in the Asia Pacific is another factor driving the market growth. A strong consumer base, increasing disposable income, and rising adoption of electric vehicles are some factors supporting the region's Advanced Driver Assistance System’s growth.

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Key Player Analysis:

The Advanced Driver Assistance System market analysis consists of players such as Continental AG, ZF Friedrichshafen, Aptiv PLC, Valeo, Hella Kgaa Hueck & Co., Robert Bosch Gmbh, Hyundai Mobis, Magna International, Autoliv, Denso Corporation.  In 2023, Porsche partnered with Mobiley to supply a Level 2+ advanced driver-assistance system.

Recent Developments:

 

The companies are adopting several strategies, such as collaborations, partnerships, mergers & acquisitions, and new product developments in the global Advanced Driver Assistance System market. A few recent key market developments are listed below: 

  • In 2023, Continental and Ambarella partnered to develop AI-based end-to-end hardware and software solutions.
  • In 2023, General Motors launched driver assistance technology, Ultra Cruise. Ultra Cruise monitors the driver's head position and eyes coordinated to the road using a combination of cameras, short- and long-range radars, LiDAR behind the windshield, an all-new processing system, and a driver attentiveness system.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Sensor Type, Technology Type, and Vehicle Type

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is the estimated global market size for the advanced driver assistance systems (ADAS) market in 2021?

The global advanced driver assistance systems (ADAS) market was valued at US$ 43,138.44 million in 2021

What are the future trends in the advanced driver assistance systems (ADAS) market?

The Future trends impacting the advanced driver assistance systems (ADAS) market are - Growing Demand for Embedded Vision Systems in Vehicles

Which is the fastest growing regional market?

APAC is the fastest-growing regional market in the global Advanced driver assistance systems (ADAS) market in 2021.

Which are the key players holding the major market share of the advanced driver assistance systems (ADAS) market?

The key players holding the major market share of the advanced driver assistance systems (ADAS) market are Continental AG; Hitachi, ltd; Denso Corporation; Harman International; and NXP semiconductors.

What are the driving factors impacting the global advanced driver assistance systems (ADAS) market?

The driving factors impacting the Advanced driver assistance systems (ADAS) market are
I. Growing Demand for Safety and Driving Comfort Features
II. Rising Adoption of Integrated Radar and Camera Systems

Which is the leading technology type segment in the advanced driver assistance systems (ADAS) market?

The blind-spot detection segment led the advanced driver assistance systems (ADAS) market in 2021.

What will be the global market size for the advanced driver assistance systems (ADAS) market by 2028?

The global advanced driver assistance systems (ADAS) market size is projected to reach US$ 183,814.84 million by 2028.

What is the incremental growth of the advanced driver assistance systems (ADAS) market during the forecast period?

Asia Pacific dominated The Advanced driver assistance systems (ADAS) market in 2021 with a share of 46.1%; it would continue to dominate the market during the forecast period and account for 50.2% share by 2028

The List of Companies - Advanced Driver Assistance Systems (ADAS) Market

  1. Continental AG
  2. Cypress Semiconductor Corporation
  3. First Sensor AG (TE Connectivity)
  4. Harman International (Samsung Group)
  5. Hitachi, Ltd.
  6. MG Motor India Private Limited
  7. NVIDIA Corporation
  8. Robert Bosch GmbH
  9. Telefonaktiebolaget LM Ericsson
  10. Vector Informatik GmbH

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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