ADAS Market worth 655 million Units by 2030

The Advanced Driver Assistance Systems Market 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 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.

The global Advanced Driver Assistance Systems 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.

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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. Furthermore, regulatory bodies are implementing crash test ratings and safety assessment programs that incentivize automakers to prioritize safety in vehicle design and manufacturing processes. As a result, automotive manufacturers are increasingly investing in research and development to innovate and integrate ADAS technologies into their vehicle models to comply with regulatory requirements and meet consumer demand for safer vehicles.

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. Companies like Google, Tesla, and Audi are at the forefront of self-driving car technology development. Waymo, for instance, integrates medium and long-range LiDAR and high-resolution cameras for comprehensive visibility, while radar systems track objects effectively in weather conditions like snow and rain. Additionally, a new vehicle network technology, Automotive Ethernet, is expected to significantly improve ADAS functionalities and fuel the development of autonomous vehicles. Automotive ethernet provides ADAS with the high bandwidth and low latency needed for real-time decision-making, which is necessary for features like AEB, LDW, ACC, and more. Recent IEEE standards, such as 802.3cz (Multi-Gigabit Glass Optical Fiber Automotive Ethernet) and 802.3ch (2.5/5/10 Gbps), will further enhance Automotive Ethernet, ensuring reliable data delivery crucial for real-time ADAS. Major OEMs and e-hailing service providers such as General Motors (US), Ford (US), Uber (US), Lyft (US), and Waymo (US) have launched robotaxi trials in the US. DeepRoute.ai (China) introduced the Driver 3.0 HD Map free innovative driving solution in 2023, marking China's first navigation system not dependent on high-definition maps and capable of point-to-point navigation across all regions.

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. The effective operation of these features mandates that application software be capable of functioning efficiently within a real-time environment. In India, automotive Original Equipment Manufacturers (OEMs) such as Mahindra & Mahindra Limited and Morris Garages offer Advanced Driver Assistance Systems (ADAS) functionalities. These include adaptive cruise control with stop-and-go functionality, lane-keep assist, and traffic sign recognition.

Advanced Driver Assistance Systems Market: Ecosystem

The ecosystem mapping highlights various Advanced Driver Assistance Systems Market involves the design, development, validation, prototyping, and manufacturing support for various ADAS systems and subsystems. In the ADAS market ecosystem, component providers supply crucial elements like semiconductors, sensors, and controllers used in vehicle radar and sensing systems, control modules, and power electronics for ADAS, automated driving, and safety systems. Leading Tier 1 providers such as Robert Bosch, Denso, Continental AG, ZF, Mobileye, and Valeo play pivotal roles in integrating advanced driver assistance systems into vehicle models through partnerships and agreements with component manufacturers and technology providers. Software companies within the ecosystem collaborate with these providers or develop their systems to enhance ADAS functionalities. Additionally, service providers like ride-sharing operators deliver ADAS-enabled services directly to end-users.

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. For instance, in December 2023, Black Sesame Technologies (US) and BlackBerry (US) partnered with ECARX (China) for ADAS technology by integrating advanced AI algorithms, sensor fusion, and cybersecurity features into the Skyland platform. Additionally, the increase in sales and demand for autonomous driving and cruise control of luxury vehicles will positively impact the demand for ADAS in North America. The region's large customer base and high disposable income have fueled the premium passenger car market.

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. These companies adopted new product development strategies, expansion, partnerships & collaborations, and mergers & acquisitions to gain traction in the market.

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