ADAS Market Size, Share, Trends [2024-2030]

The global ADAS market size is expected to grow from 334 million units in 2024 to 655 million units by 2030, at a CAGR of 11.9%. The Advanced Driver Assistance Systems Market is witnessing robust growth driven by increasing demand for electric and autonomous vehicles, which may drive the market for ADAS systems.

The research study involved extensive secondary sources, such as company annual reports/presentations, industry association publications, magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, technical articles, and databases, to identify and collect information on the Advanced Driver Assistance Systems Market. Primary sources, such as experts from related industries, automobile OEMs, and suppliers, were interviewed to obtain and verify critical information and assess the growth prospects and market estimations. Key players in the ADAS market have been identified through secondary research. Primary research interviews were conducted with key opinion leaders in the automotive industry, such as CEOs, directors, industry experts, and other executives, to validate revenues.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1201

ADAS MARKET:

Driver: Increased focus on Vehicle Safety

With road safety becoming a global concern, governments, regulatory bodies, and consumers are emphasizing implementing advanced safety features in vehicles to mitigate the risk of accidents and enhance overall safety standards. This heightened focus is driven by alarming statistics of road traffic fatalities and injuries, prompting automakers and regulatory bodies to take proactive measures to address this pressing issue. Governments are enacting stringent regulations and safety standards mandating the integration Advanced Driver Assistance Systems technologies into vehicles to improve safety outcomes and reduce the likelihood of accidents. These regulations range from basic requirements for essential safety features like anti-lock braking systems (ABS) and electronic stability control (ESC) to more advanced ADAS functionalities such as collision avoidance systems, lane departure warning systems, and adaptive cruise control.

Opportunity: Advancements in autonomous vehicle technology

The rise of autonomous vehicles is set to revolutionize commuting, with Advanced Driver Assistance Systems technologies simplifying driving tasks through features like lane monitoring and emergency braking. Autonomous vehicles utilize advanced technologies such as LiDAR, radar, and high-definition cameras to gather data, which is then analyzed by onboard autonomous systems to navigate safely. Algorithms in autonomous vehicles improve accuracy through continuous learning and data sharing among vehicles. The Vehicular Ad hoc Network (VANET) is a recent advancement which enables vehicle-to-vehicle communication for applications like accident notifications and traffic alerts.

The application Software segment is estimated to exhibit the fastest growth in the global ADAS market.

Application software is expected to have significant growth opportunities in the automotive software market during the forecast period. This is attributed to the increasing sales of ADAS-equipped vehicles and the rising demand for connected technologies. Enterprises such as Honda Motor Co., Ltd. (Japan), Toyota Motor Corporation (Japan), Mahindra & Mahindra Limited (India), BYD (China), and MG Motor (UK), among others, provide Advanced Driver Assistance Systems (ADAS) functionalities. These functionalities encompass adaptive cruise control, lane-keeping assist, lane departure warning, automatic emergency braking, traffic sign recognition, blind-spot detection, and rear collision warning.

Camera Unit segment is expected to see substantial growth in Advanced Driver Assistance Systems Market during the forecast period.

A camera unit is used in intelligent park assist, pedestrian detection systems, lane departure warning systems, blind-spot monitoring systems, and others. Camera-based systems are commonly deployed in a car's front, side, and rear to provide driving and parking assistance. Front camera systems are most widely mounted behind the rear-view mirror; rear cameras are mounted near the rear license number plate, while side cameras are mounted adjacent to the mirrors on both sides. The primary function of an ADAS front camera (FC) system is to identify and capture images of specified objects, including pedestrians, other vehicles, and similar entities. This system encompasses a lens, sensors responsible for image capture, and an embedded processor chip designed to identify the objects of interest. The heightened awareness of safety among consumers may positively influence the demand for camera units. Side-view, rear-view, and wing-mirror cameras are extensively integrated into automotive systems, with increasing adoption observed in mid-segment and premium vehicles.

US to lead the ADAS market in North America.

The US is predicted to lead the North American ADAS market due to the high demand for feature-rich passenger cars and pickup trucks, and it is a mature market for modern technology compared to Canada and Mexico. ADAS features include lane departure warning, forward collision warning, automatic emergency braking, adaptive cruise control, and blind-spot monitoring. Some vehicles also have advanced features like automatic park assist and traffic sign recognition. These technologies can help improve road safety by reducing the risk of accidents caused by human error.

Key Players

The ADAS market is dominated by global players such as Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen (Germany), Denso (Japan), and Magna International (Canada), among others.

Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1201