Advanced Driver Assistance Systems Market is valued at USD 18.77 Billion in 2021 and is expected to reach USD 250.55 Billion by 2028 with a CAGR of 15.2% over the forecast period.
Advanced Driver Assistance System (ADAS) is referred to as vehicle-based intelligent safety systems which help to improve road safety in order to avoid crashes, accidents severity, and post-crash phases. ADAS is equipped with various components including a road safety warning system that provides audio and visual alerts. Since 1990, GPS navigation has become very common in OEM infotainment systems since first being introduced. ADAS is usually found with vision-based, radio detection and ranging (RADAR), and other advanced-sensing technologies. ADAS systems not only improve safety but also help to reduce hard braking, optimize engine performance and give drivers better fuel efficiency. ADAS can easily detect a wrong lane change and sends an alert through the display Panel to get back in the correct lane as well as enable to change the driving style of the vehicle and saving fuel consumption by 15%.
Advanced driver assistance systems market report is segmented on component type, and by regional & country level. Based upon components, the advanced driver assistance systems market is segmented as system type and sensor type. System type is subdivided into tire pressure monitoring system, drowsiness monitor system, intelligent parking assist system, adaptive cruise control system, blind spot object detection system, lane departure warning system, adaptive front-lighting system and others (night vision system and driver monitoring system). On the basis of sensor type, the market is further classified into Image Sensor, LiDAR Sensor, Ultrasonic Sensor, Infrared Sensor, RADAR and LASER. Based upon vehicle type, the advanced driver assistance systems market is segmented as passenger cars and commercial vehicles.
The regions covered in this Global Advanced Driver Assistance Systems market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Global Advanced Driver Assistance Systems market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for Advanced Driver Assistance Systems market are
Increasing the demand for safety vehicles coupled with fuel efficiency is expected to grow the Global Advanced Driver Assistance Systems market.
The Advanced Driver Assistance Systems market is likely to anticipate a high growth due to the worldwide automotive industry is increasingly adopting self-driving car technology by offering technological advancements for better fuel economy and improve road safety in order to meet regulatory compliance. Safety in automotive vehicles has major concern among the customers since the early days of on-road vehicles, thus original equipment manufacturers (OEMs) are significantly developing various safety systems such as (ADAS) to avoid the road accidents and to protect the occupants within the vehicle as well as prevent people outside the vehicle. Additionally, government organizations are constantly pushing the manufacturers for improving the fuel economy as well as greater road safety. As per recent survey, the World Health Organization reported that 1.25 million deaths occur every year due to road traffic accidents. However, the performance of this system can be negatively impacted by the changing environmental conditions. Next-generation ADAS will incorporate advanced sensor technologies for autonomous driving provide most lucrative opportunities in the coming years.
North America is dominating the Global Advanced Driver Assistance Systems Market.
North America is estimated to dominate the advanced driver assistance systems market during forecast period. North American automakers of autonomous vehicles are increasingly relying upon this kind of solutions that can improve the vehicle performance, road safety and better fuel economy in accordance with the regulatory framework. In addition to this, the United States and the European Union have decided that all vehicles must be equipped with ADAS safety solutions by the end of 2020. According to Bureau of Transportation Statistics, in the United States, around 32,000 people are killed and over 2 million people injured in crashes every year. Asia pacific is significantly growing region due to increasing government standards towards the improvement of safety road vehicles and growing sales of autonomous vehicles is expected to drive the growth of this market in this region.
|Historical data||2018 - 2021|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 18.77 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 50.55 Billion|
|Tables, Charts & Figures:||175|
|ADAS Companies||Continental, Bosch, Denso, Delphi, TRW Automotive, BMW, Mobileye, Hitachi Automotive, Valeo, Magna International and others.|
|Segments Covered||By Component Type, By Vehicle Type|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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