South Korea Advance Driver Assistance Systems Market was valued at USD 2.4 Billion in 2022 and is projected to reach USD 5.6 Billion by 2030, growing at a CAGR of 12.4% from 2024 to 2030.
The South Korea Advance Driver Assistance Systems (ADAS) market is witnessing substantial growth, driven by the increasing demand for vehicle safety, convenience, and automation. As car manufacturers and tech companies push toward smart vehicles, ADAS has become a pivotal component in enhancing driving experience and minimizing accidents. In South Korea, a tech-savvy nation with a booming automotive industry, the market is expected to continue expanding at a rapid pace. ADAS incorporates a range of features such as adaptive cruise control, lane-keeping assistance, automatic parking, and collision warning systems. These technologies are rapidly becoming standard in new vehicles, with more vehicles being equipped with advanced systems every year.
The need for ADAS is growing across various industries, from automotive manufacturers to technology firms, primarily driven by the push for safety compliance and the growing demand for autonomous driving. Car manufacturers are continuously upgrading their offerings to include cutting-edge driver assistance systems to stay competitive in the market. Additionally, the growing trend of integrating Internet of Things (IoT) technology into vehicles is boosting the development of ADAS solutions in South Korea. This market is also supported by stringent government regulations that push for higher safety standards, driving both adoption and technological innovation.
Furthermore, industries are demanding ADAS to cater to the rising concerns about road safety. South Korea, with its high road traffic density, has placed a strong emphasis on reducing accidents, making ADAS an essential feature in modern vehicles. The automotive sector seeks to enhance driver and passenger safety through features like automatic emergency braking, blind-spot detection, and lane-departure warnings. The integration of these systems aligns with the industry's shift towards smart mobility solutions, making the ADAS market crucial for future developments in the region.
The South Korea ADAS market is also witnessing increased investments from technology giants and automotive firms alike. Companies are focusing on integrating Artificial Intelligence (AI) and machine learning algorithms into their systems to enhance real-time decision-making. This enables vehicles to understand and react to their environment more efficiently. As more automakers incorporate ADAS into their cars, the market is expected to see a rise in consumer demand for these advanced features.
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Magna International Inc.
Autoliv Inc.
Continental AG
Robert Bosch GmbH
Valeo
Denso Corporation
NXP Semiconductor
Panasonic Corporation
Renesas Electronics Corporation
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Advance Driver Assistance Systems Market
Vision-Based Systems
Radar-Based Systems
Lidar-Based Systems
Ultrasonic Systems
Sensor Fusion Systems
Hardware
Software
Passenger Vehicles
Commercial Vehicles
Two-Wheelers
Public Transport
Heavy-Duty Vehicles
Level 0 - No Automation
Level 1 - Driver Assistance
Level 2 - Partial Automation
Level 3 - Conditional Automation
Level 4 - High Automation
Level 5 - Full Automation
OEMs (Original Equipment Manufacturers)
Aftermarket Suppliers
Fleet Operators
Ride-sharing Services
Logistics and Delivery Services
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Advance Driver Assistance Systems Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Advance Driver Assistance Systems Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Advance Driver Assistance Systems Market, By Type
6. South Korea Advance Driver Assistance Systems Market, By Application
7. South Korea Advance Driver Assistance Systems Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Advance Driver Assistance Systems Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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