Automotive ADAS and Autonomous Driving Components

Automotive ADAS and Autonomous Driving Components

Global Automotive ADAS and Autonomous Driving Components Market to Reach US$122.6 Billion by 2030

The global market for Automotive ADAS and Autonomous Driving Components estimated at US$46.2 Billion in the year 2023, is expected to reach US$122.6 Billion by 2030, growing at a CAGR of 14.9% over the analysis period 2023-2030. Image Sensor, one of the segments analyzed in the report, is expected to record a 16.4% CAGR and reach US$42.1 Billion by the end of the analysis period. Growth in the Radar Sensor segment is estimated at 17.9% CAGR over the analysis period.

The U.S. Market is Estimated at US$12.6 Billion While China is Forecast to Grow at 20.1% CAGR

The Automotive ADAS and Autonomous Driving Components market in the U.S. is estimated at US$12.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$28.0 Billion by the year 2030 trailing a CAGR of 20.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 11.1% and 13.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.9% CAGR.

Global Automotive ADAS and Autonomous Driving Components Market - Key Trends and Drivers Summarized

Automotive Advanced Driver-Assistance Systems (ADAS) and autonomous driving components represent a significant shift towards safer and more efficient driving experiences. ADAS encompasses a range of systems designed to enhance vehicle safety and help the driver in the driving process. These systems utilize a variety of technologies including cameras, radar, LiDAR (Light Detection and Ranging), ultrasonic sensors, and sophisticated algorithms to interpret data and make real-time decisions. Common ADAS features include adaptive cruise control, lane keeping assist, automatic emergency braking, and blind-spot detection. These technologies serve as the building blocks for fully autonomous vehicles, which aim to reduce human input in driving to a minimum or eliminate it entirely. The development of autonomous driving technologies is seen as a key step toward reducing road accidents, enhancing traffic efficiency, and decreasing carbon emissions through optimized driving patterns.

The integration of ADAS and autonomous driving technologies into modern vehicles is increasingly being driven by regulatory and consumer demand for safer vehicles. Governments around the world are implementing regulations that mandate the inclusion of certain ADAS features in new vehicles. This regulatory push is accompanied by consumer expectations for higher safety standards, which influence car buyers` decisions. As the technology advances, the cost of sensors and components has decreased, making these systems more accessible to a broader segment of the automotive market. Additionally, the push towards connected infrastructure and smart cities is facilitating greater synergies between vehicle technology and urban environments, such as the ability to communicate with traffic signals and other vehicles to optimize traffic flow and enhance safety.

The growth in the ADAS and autonomous driving components market is driven by several factors, including technological innovations, regulatory mandates, and changes in consumer preferences. Technological advancements are continuously improving the accuracy and reliability of sensors and software that are critical for the functionality of these systems. For instance, enhancements in artificial intelligence and machine learning algorithms are enabling more sophisticated data processing and decision-making capabilities in real-time, which are essential for autonomous driving. Regulatory factors also significantly impact this market; many countries are adopting stricter safety regulations that require vehicles to be equipped with advanced safety features, thereby boosting the adoption of ADAS systems. Furthermore, consumer behavior is increasingly favoring vehicles equipped with advanced safety features, not only for the added security they provide but also for the increased resale value they offer. The growing awareness of the environmental and societal benefits of reduced traffic incidents and lower emissions also contributes to the demand for advanced vehicle technologies. These dynamics are propelling robust growth and rapid evolution in the ADAS and autonomous driving technologies sector.

Select Competitors (Total 61 Featured) -

• Analog Device, Inc
• Aptiv PLC
• Autoliv Inc.
• Bosch Mobility
• Continental Automotive Technologies GmbH
• Denso Corporation
• Infineon Technologies AG
• LeddarTech Inc.
• Magna International Inc.
• Mobileye Vision Technologies Ltd.
• Murata Manufacturing Co. Ltd
• NVIDIA Corporation
• NXP Semiconductors NV
• Texas Instruments Incorporated
• Valeo
• ZF Friedrichshafen AG;

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