Automotive ADAS (Advanced Driver Assistance Systems) Market Size, Revenue Analysis, PEST, Region & Country Forecast, 2033

[Latest Market Trends]

The global automotive ADAS (Advanced Driver Assistance System) market value is expected to rise from USD 64,047.75 million in 2024 to USD 2,11,710.80 million by 2034. This estimated growth is expected to be driven by a steady CAGR of 12.7% in the automotive ADAS (Advanced Driver Assistance System) market over the next decade.

Increasing demand for automotive ADAS in compact passenger cars is catalyzing the market growth. In developed countries, ownership of luxury vehicles is rising on the back of surging disposable income and a rising proclivity toward a materialistic lifestyle. The influence of this trend is growing larger and sweeping developing economies like India and China as well. As the luxury car segment sees a considerable rise in the global automotive market, the sales of automotive ADAS observe heightened adoption in these automobiles.

Auto manufacturers are increasingly investing in advanced systems like night vision systems, road sign recognition systems, and drowsiness monitoring systems, which are propelling the sales of automotive ADAS. As government regulations to enhance road safety and decrease road accidents increase, so do the sales of automotive ADAS systems like adaptive cruise control and autonomous emergency braking systems. For instance, in the historical period, the European Union (EU) necessitated the execution of adaptive cruise control systems in commercial vehicles. Regulations like these are expected to offer lucrative opportunities for the automotive ADAS market in the next decade.

Key Takeaways from the Automotive ADAS (Advanced Driver Assistance System) Market Report:

The United States automotive ADAS market is projected to expand at a CAGR of 8.9% through 2034, whereas the Canada market is anticipated to register a CAGR of 9.7% through 2034.
In Europe, Germany, Spain, and France are expected to record CAGRs of 8.8%, 8.5%, 8.4%, respectively, through 2034.
In Asia Pacific, Japan, China, and India are predicted to register CAGRs of 13.6%, 13.5%, and 13%, correspondingly, through 2034.
The AEB segment is projected to obtain a market share of 56.3% in 2024.
The ultrasonic sensors segment is anticipated to accumulate a share of 25.1% in 2024.
“Vehicle electrification is projected to open up doors for the future growth of autonomous ADAS. Increasing investments in autonomous vehicle technology are promoting the integration of ADAS in vehicles. Key players in developed economies are turning their focus on developing economies as avenues for growth emerge in these countries,” says an FMI analyst.

Key Tactics Employed by Players Operating in Automotive ADAS (Advanced Driver Assistance System) Market:

The automotive ADAS industry is significantly fragmented, with a considerable proportion of players competing for a greater market share. Players can be seen competing on the basis of performance, price, features, technology, and scalability. Players are focusing on their dynamics and relationships with automakers and leveraging their expertise in automotive systems integration. Additionally, market participants are developing sophisticated ADAS technologies and are focusing on certain niches like specific vehicle types and specific ADAS features. Surging importance of ADAS systems in autonomous vehicles is expected to increase its sales.

Key Providers of Automotive ADAS:

Robert Bosch GmbH
Continental AG
ZF Friedrichshafen AG
DENSO Corporation
Mobileye
Aptiv Plc
Veoneer Inc.
Autoliv Inc.
Valeo SA
Magna International
Aisin Seiki Co. Ltd.
Panasonic Corporation
Texas Instruments
NVIDIA Corporation
NXP Semiconductors NV
Renesas Electronics Corporation
Intel Corporation
Hitachi
Harman International Industries
Key Developments Taking Place in Automotive ADAS (Advanced Driver Assistance System) Market:

Green Car revealed that it is going to equip its entire fleet with ADAS by 2022 end. Thus, optimizing user convenience.
Beijing Horizon Robotics Technology R&D Co., Ltd. and Continental AG (Continental) came into a Joint Venture (JV) contract in September 2021. The JV concentrates on offering hardware and software integrated solutions for autonomous driving and advanced driver assistance systems.
Aptiv PLC, in January 2022, announced a next-Gen ADAS for electric and autonomous vehicles, which is expected to cut cost of software-powered vehicles owing to Aptiv scalable architecture.
ZF introduced a 360 ° protection system for commercial automotive in January 2022. The system is projected to detect risks from rear and front side and safeguard the vehicle via dynamic control system. Currently, the firm mainly targets the United States market due to significant demand from commercial fleet operators.
Key Segments in the Automotive ADAS (Advanced Driver Assistance System) Market:

By System:

Standard
Folding
Self-Balancing
Maxi
Three-Wheeled
By Battery Type:

Li-ion
NiMH
Lead-Based
By Technology:

Plug-In
Battery
By Region:

North America
Latin America
Asia Pacific
Middle East and Africa
Europe
Read More: https://www.futuremarketinsights.com/reports/adas-market