The ADAS Market Size is on a remarkable growth path, projected to reach 655 million units by 2030. This expansion is fueled by the rising adoption of safety features in vehicles, including adaptive cruise control, lane-keeping assistance, and automatic emergency braking. Increasing consumer demand for enhanced driving safety, coupled with stringent government regulations mandating ADAS installations, has significantly contributed to the surge in market size. The integration of cutting-edge technologies like AI and machine learning is further advancing the efficiency and capabilities of ADAS systems, driving widespread adoption.
Factors Driving the ADAS Market Size
The robust growth of the ADAS market size is also attributed to advancements in sensor technologies, including LiDAR, radar, and cameras, which enable real-time data processing and decision-making. As automotive manufacturers strive to achieve higher safety ratings and differentiate their offerings, ADAS systems are becoming a standard feature in mid-range and high-end vehicles. Furthermore, the push towards autonomous driving has amplified investments in ADAS innovations, paving the way for exponential market growth. This evolution underscores the critical role of ADAS in shaping the future of safer and smarter transportation systems.
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BEV segment is expected to have the largest share in the global ADAS market
The BEV is expected to grow the largest in terms of volume. Owing to the governments of India, China, the United States, and European nations provide subsidies for electric infrastructure, consequently fostering expansion within the Battery Electric Vehicles (BEVs) segment. OEMs respond by introducing new electric iterations of existing Internal Combustion Engine (ICE) models. Furthermore, heightened competition from prominent Electric Vehicle (EV) manufacturers like Tesla prompts traditional OEMs to strategize incorporating additional safety and driving assistance features to maintain competitiveness. Prominent automakers such as BMW, BYD, Tesla, Mercedes Benz, and Audi increasingly focus on eco-friendly vehicles equipped with enhanced driving comfort features. For instance, in September 2023, BYD expanded its sales in Southeast Asia through partnerships with regional distributors. As a result, the anticipated increase in demand for ADAS solutions within the electric vehicle segment is projected for the forecast period.
The hardware segment is expected to grow significantly in theAdvanced Driver Assistance Systems Market during the forecast period.
Ongoing enhancements in Advanced Driver Assistance Systems (ADAS) have spurred heightened demand for multi-camera systems within automotive contexts. Prominent Original Equipment Manufacturers (OEMs) now employ a blend of cameras to encompass surround-view functionalities. Images captured by diverse cameras affixed to the vehicle periphery are seamlessly combined to generate a panoramic representation of the surrounding driving milieu. Supplementary elements such as radar sensors are integrated into safety systems to elevate safety ratings and adhere to regulatory standards. In contrast to cameras, radar sensors remain resilient to adverse weather and low-light scenarios. Diverse radar configurations readily discern the velocity, trajectory, and proximity of objects surrounding the vehicle. As cars are upgraded to become safer and sustainable, demand for semiconductors has led to increased investments by major players in developing advanced chipsets. For instance, in August 2023, Horizon Robotics, Aptiv, and Wind River partnered to create hardware and software for ADAS and automated driving.
"The European Advanced Driver Assistance Systems Market is projected to grow fastest by 2030."
Europe is estimated to be the fastest Advanced Driver Assistance Systems Market by 2030. Despite the recent global automotive slowdown, the European automotive market has consistently grown over the past six years. This was evident in January 2024, when the European Union's new car market rebounded with a robust 12.1% year-on-year increase in car registrations, totaling 851,690 units, following a slowdown in December 2023. Leading European automotive manufacturers have offered high-performance engines and advanced safety features to maintain competitiveness. Sales of passenger cars by major automakers such as the Volkswagen Group, Mercedes-Benz, Renault, Hyundai, BMW, Toyota, and Stellantis have fueled demand for ADAS-enabled vehicles in the region.
Key Players
The ADAS market is dominated by global players such as Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen (Germany), Denso (Japan), and Magna International (Canada), among others. These companies adopted new product development strategies, expansion, partnerships & collaborations, and mergers & acquisitions to gain traction in the market.
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