Pune, India, Dec. 05, 2022 (GLOBE NEWSWIRE) -- The planetary advanced operator assistance strategy marketplace size is expected to turn from USD 43.62 cardinal successful 2022 and is projected to scope USD 124.31 cardinal by 2029, exhibiting a CAGR of 16.1% during the forecast play from 2022-2029. This accusation is provided by Fortune Business Insights, successful its report, titled, “Advanced Driver Assistance System Market, 2022-2029.”
According to our analysts, accelerated urbanization, concern expansion, improving surviving standards, and rising per-capita income are expected to incite marketplace development.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 To 2029 CAGR | 16.1% |
| 2029 Value Projection | USD 124.31 billion |
| Base Year | 2021 |
| Market Size successful 2021 | USD 37.31 cardinal |
| Historical Data for | 2018-2020 |
| No. of Pages | 200 |
| Segments covered | By System Type, By Component Type, By Vehicle Type, And Region |
| Growth Drivers | High Production of Vehicles and Increasing Sales to Boost Market Growth successful Asia Pacific |
| Rising Demand for Safety Features to Boost Market Development |
COVID-19 Impact on ADAS market
Supply Chain Disruptions and Raw Material Shortage Negatively Affected Market Growth
This marketplace was negatively affected during the COVID-19 pandemic owed to proviso concatenation disruptions and earthy worldly shortages. The abrupt spike successful COVID-19 patients led to the adoption of stringent lockdowns. The closure of manufacturing facilities severely disrupted the proviso chain, thereby hindering the industry’s growth. Furthermore, restrictions connected transport and question led to earthy worldly shortages. However, the adoption of concern automation and sanitization allowed manufacturers to equilibrium costs and heighten their sales.
To get to cognize much astir the short-term and semipermanent interaction of COVID-19 connected this market, delight visit: https://www.fortunebusinessinsights.com/industry-reports/adas-market-101897
Drivers and Restraints
Rising Concerns Regarding Passenger Safety to Foster Market Progress
Automotive Advanced Driver Assistance System (ADAS) is simply a bundle that covers an extended scope of passive and progressive systems to supply drivers with safety, efficiency, and comfort. Rising user request concerning rider information is expected to elevate the product’s demand. Furthermore, the expanding adoption of precocious technologies successful sensors, cameras, processors, mapping, and bundle algorithms has bolstered ADAS adoption successful vehicles. Moreover, expanding rider and operator information concerns are expected to foster ADAS adoption. These factors whitethorn thrust the Advanced Driver Assistance System (ADAS) marketplace growth.
However, precocious installation costs and rising concerns regarding malfunctioning are expected to hamper the industry’s growth.
ADAS Industry Development
June 2021 - Continental AG declared the operation advancement of its caller Advanced Driver Assistance Systems (ADAS) manufacturing facility.
List of Key Players Mentioned successful the Report:
- Robert Bosch GmbH (Germany)
- Continental AG (Germany)
- ZF Friedrichshafen AG (Germany)
- DENSO CORPORATION (Japan)
- Aptiv PLC (Ireland)
- Valeo SA (France)
- Magna International Inc. (Canada)
- Aisin Seiki Co. Ltd (Japan)
- Autoliv Inc. (Sweden)
- GENTEX CORPORATION (U.S.)
- Harman International (U.S.)
- Hyundai Mobis (South Korea)
- NXP Semiconductor (Netherlands)
- Mobileye (Israel)
- Panasonic Corporation (Japan)
- Renesas Electronics Corporation (Japan)
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ADAS Segmentation
Autonomous Emergency Braking (AEB) System to Dominate Market Share Owing to Strong Demand for Commercial Vehicles and Passenger Cars
By strategy type, the marketplace is segmented into adaptive cruise control, parkland assist, Autonomous Emergency Braking (AEB), lane departure informing system, guardant collision warning, e-call system, and others.
The Autonomous Emergency Braking (AEB) conception is expected to predominate owed to the rising request for commercialized vehicles and rider cars. Further, expanding request for the merchandise from respective applications is apt to boost segmental growth.
Radar Segment to Dominate Owing to Rising Safety Awareness and Accidents
As per constituent type, the marketplace is categorized into LiDAR, radar, camera, and sensor.
The radar conception is expected to predominate attributable to rising information consciousness and expanding accidents. Further, the transportation of highly blase ICs by the sensor is expected to heighten segmental growth.
Passenger Car Segment to Dominate the Market Attributable to Strong Adoption of Advanced Safety Systems successful Vehicles
Based connected conveyance type, the marketplace is classified into rider cars, Light Commercial Vehicles (LCV), and Heavy Commercial Vehicles (HCV).
The rider cars conception is expected to pb the marketplace owed to the beardown adoption of precocious information systems successful vehicles. Further, concern expansions, urbanization, and rising disposable incomes are expected to foster segmental growth.
Regionally, the marketplace clubbed into North America, Europe, Asia Pacific, and the remainder of the world.
Regional Insights
High Production and Vehicle Sales to Foster Market Progress successful Asia Pacific
Asia Pacific is expected to predominate the Advanced Driver Assistance System (ADAS) marketplace stock owed to precocious accumulation and conveyance sales. The marketplace successful Asia Pacific stood astatine USD 16.35 cardinal successful 2021 and is expected to summation a immense information of the planetary marketplace stock successful the coming years. Further, the rising adoption of electrical vehicles successful Japan and China is apt to heighten the Advanced Driver Assistance System (ADAS) manufacture maturation
In Europe, the imposition of strict emanation norms enhanced ADAS adoption. Furthermore, the expanding request for highly businesslike information features successful vehicles is expected to elevate the industry’s growth.
In North America, the beingness of respective large automotive companies is expected to foster ADAS demand. These factors whitethorn propel the industry’s progress.
Competitive Landscape
Major Players Devise Acquisition Strategies to Strengthen Brand Image
The salient players operating successful the marketplace devise acquisitions to heighten their marque representation globally. For example, Magna International Inc. acquired Veoneer Inc. successful July 2021 to fortify its merchandise offerings and marque image. Further, manufacturers put importantly successful probe and developments to heighten their product’s effectiveness and boost their sales. Moreover, manufacturers devise partnerships, mergers, caller merchandise launches, concern automation, and expansions to heighten their marketplace presumption globally.
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Global Advanced Driver Assistance System Market Size Segmentation:
By System Type
- Adaptive Cruise Control
- Park Assist
- Lane Departure Warning System
- Autonomous Emergency Braking
- Forward Collision Warning
- E-Call System
By Component Type
- LiDAR
- Radar
- Camera
- Sensor
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
Table of Contents
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Key Industry Developments – Mergers, Acquisitions and Partnerships
4.2 Porter’s Five Forces Analysis
4.3 PEST Analysis
4.4 Technological Developments
4.5 Impact of COVID-19
5. Global ADVANCED DRIVER ASSISTANCE SYSTEM Market Analysis, Insights And Forecast, 2018-2029
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By System Type
5.2.1 Adaptive Cruise Control
5.2.2 Park Assist
5.2.3 Lane Departure Warning System
5.2.4 Autonomous Emergency Braking
5.2.5 Forward Collision Warning
5.2.6 E-Call System
5.2.7 Others
5.3. Market Analysis, Insights and Forecast – By Component Type
5.3.1 LiDAR
5.3.2 Radar
5.3.3 Camera
5.3.4 Sensor
5.4. Market Analysis, Insights and Forecast – By Vehicle Type
5.4.1 Passenger Cars
5.4.2 Light Commercial Vehicles
5.4.3 Heavy Commercial Vehicles
5.5. Market Analysis, Insights and Forecast – By Region
5.5.1 North America
5.5.2 Europe
5.5.3 Asia Pacific
5.5.4 Rest of the World
6. North America ADVANCED DRIVER ASSISTANCE SYSTEM Market Analysis, Insights And Forecast, 2018-2029
6.1. Key Findings / Summary
6.2. Market Analysis – By System Type
6.2.1 Adaptive Cruise Control
6.2.2 Park Assist
6.2.3 Lane Departure Warning System
6.2.4 Autonomous Emergency Braking
6.2.5 Forward Collision Warning
6.2.6 E-Call System
6.2.7 Others
6.3. Market Analysis – By Component Type
6.3.1 LiDAR
6.3.2 Radar
6.3.3 Camera
6.3.4 Sensor
6.4. Market Analysis, Insights and Forecast – By Vehicle Type
6.4.1 Passenger Cars
6.4.2 Light Commercial Vehicles
6.4.3 Heavy Commercial Vehicles
6.5. Market Analysis – By Country
6.5.1 U.S.
6.5.1.1 By Vehicle Type
6.5.2 Canada
6.5.2.1 By Vehicle Type
6.5.3 Mexico
6.5.3.1 By Vehicle Type
Continued…
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