Global Advanced Driver Assistance Systems (ADAS) Market Report and Forecast 2023-2028

Global Advanced Driver Assistance Systems (ADAS) Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global advanced driver assistance systems (ADAS) market reached a value of about USD 34.28 billion in 2022. Aided by the rapid advancements in vehicle technology, stringent safety regulations, and increasing consumer demand for smarter vehicles, the market is projected to further grow at a CAGR of 17.30% between 2023 and 2028 to reach a value of approximately USD 88.98 billion by 2028.

Advanced Driver Assistance Systems (ADAS) is a collection of systems used in vehicles to provide an intelligent and responsive driving experience. These systems encompass a wide range of safety features such as lane departure warnings, adaptive cruise control, parking assistance, and automated emergency braking. Through these systems, ADAS aims to enhance driving safety and improve the overall driving experience, offering significant potential in reducing road accidents.

A primary force driving the global advanced driver assistance systems (ADAS) market growth is the increasing emphasis on road safety. With the alarming statistics of road traffic accidents worldwide, there is a heightened focus on incorporating technological solutions to mitigate these risks. Consequently, ADAS, with its capabilities of providing real-time safety alerts and intervention mechanisms, stands as a beacon in this endeavour.

Additionally, the automotive industry has been undergoing a transformation with the rise of autonomous vehicles. As self-driving cars are inching closer to becoming a mainstream reality, the demand for advanced driving systems, such as ADAS, has skyrocketed. These systems form the foundational layer for autonomous driving, making them indispensable in the evolving landscape of the automotive sector.

Beyond the realm of safety and automation, consumer preferences have played a pivotal role in shaping the advanced driver assistance systems (ADAS) market outlook. The modern consumer is increasingly seeking vehicles equipped with the latest tech offerings, including sophisticated driver assistance tools. This demand, coupled with the dropping prices of sensors and components used in ADAS, has led to the democratisation of these advanced systems, which were once reserved for luxury vehicles.

Several industries are intertwining with the ADAS market's growth. For instance, the semiconductor industry is witnessing an uptick in demand as ADAS systems rely heavily on high-quality chips for efficient functioning. Similarly, the software industry's role is crucial in ensuring that these systems deliver optimal performance, thereby demanding sophisticated algorithms and coding structures.

Geographically, while Europe and North America account for a significant portion of the advanced driver assistance systems (ADAS) share due to early tech adoption and stringent road safety regulations, Asia-Pacific is showcasing significant potential. Backed by its booming automotive industry, growing infrastructure investments, and rising consumer purchasing power, the region is poised to be a substantial growth driver in the coming years.

Market Segmentation

The market can be divided based on offering, sensor type, system type, level of autonomy, distribution channel, vehicle type, and region.

Market Breakup by Offering

• Hardware
• Software

Market Breakup by Sensor Type

• Image Sensor
• LiDAR Sensor
• Ultrasonic Sensor
• Infrared (IR) Sensor
• Radar Sensor
• Laser

Market Breakup by System Type

• Adaptive Cruise Control System
• Automatic Emergency Braking System (AEBS)
• Adaptive Front Lighting System
• Blind Spot Object Detection System
• Driver Monitoring System (DMS)
• Forward Collision Warning System (FCWS)
• Intelligent Parking Assist System (IPAS)
• Lane Departure Warning System (LDWS)
• Night Vision System
• Road Sign Recognition System (RSRS)
• Tyre Pressure Monitoring System (TPMS)
• Traffic Jam Assist System (TJAS)
• Others

Market Breakup by Level of Autonomy

• Level 1
• Level 2 and Level 3
• Level 4
• Level 5

Market Breakup by Distribution Channel

• OEM
• Aftermarket

Market Breakup by Vehicle Type

• Passenger Car
• Light Commercial Vehicle
• Heavy Commercial Vehicle

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global advanced driver assistance systems (ADAS) market. Some of the major players explored in the report by Expert Market Research are as follows:

• Robert Bosch GmbH
• Continental AG
• DENSO Corporation
• Magna International Inc.
• ZF Friedrichshafen AG
• Autoliv Inc.
• NXP Semiconductors
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.