Advanced Driver Assistance System Market Insights, Competitive Landscape and Forecast Report to 2030

 Advanced Driver Assistance System Industry Overview

The global advanced driver assistance system market size was valued at USD 12.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.2% from 2022 to 2030.

The growing demand for advanced driver assistance systems (ADAS) in compact passenger cars is projected to be a prime factor driving the market growth. Increasing government regulations for mandatory implementation of ADAS in vehicles are anticipated to further drive the demand. The market witnessed negative growth during the first half of 2020 due to the growing spread of COVID-19. Due to the global lockdowns, various assembly units and manufacturing units witnessed a temporary closure. Lower automotive sales hampered the adoption of ADAS for the coming quarters in 2021, thereby hampering the market growth. However, by 2022, the ADAS market is anticipated to witness significant growth owing to driver safety assistance mandates laid by various countries across the globe.

Growing disposable income, economic stability, and a rising preference for materialistic lifestyles are driving the sales of luxury vehicles worldwide. Developed countries such as the U.S., Canada, Japan, Spain, South Korea, and Germany accounted for a majority share of luxury car owners. However, developing countries such as India and China are witnessing high growth in the sales of luxury cars in the last few years. Germany is the most lucrative luxury car market owing to the presence of major leading players such as BMW, Mercedes-Benz, Audi AG, and Volkswagen. It is also the largest exporter of luxury cars worldwide with the U.S. being one of the largest consumer markets for all types of luxury vehicles.

Gather more insights about the market drivers, restraints and growth of the Global Advanced Driver Assistance System Market

The rising demand for advanced systems such as road sign recognition systems, night vision systems, and drowsiness monitoring systems is expected to impact the overall market growth in the forthcoming years. The demand for traditional ADAS systems, including autonomous emergency braking systems and adaptive cruise control systems, is expected to grow exponentially due to increased government regulations to improve road safety and reduce road accidents. For instance, the European Union (EU) passed a bill that mandated the implementation of adaptive cruise control systems in all heavy commercial vehicles by 2020. Such mandates and regulations are projected to provide lucrative growth opportunities for the advanced driver assistance systems market over the forecast period.

Vehicle electrification is creating lucrative growth opportunities in the field of vehicle automation. Thus, most of the market leaders are investing heavily in autonomous vehicle technology. The integration of ADAS is one of the primary requirements for vehicle automation. The integration of different ADAS sensors such as Radar, LIDAR, and cameras is expected to help companies reach the near-to-accurate mark in vehicle automation.

Browse through Grand View Research's Automotive & Transportation Industry Related Reports

  • Tractor Implements Market - The global tractor implements market size was valued at USD 28.69 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 5.0 % over the forecast period.
  • Electric Bus Market - The global electric bus market size was valued at USD 40.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.5% from 2022 to 2030.

Advanced Driver Assistance System Market Segmentation

Grand View Research has segmented the global advanced driver assistance system market based on solution type, component type, vehicle type, and region:

Advanced Driver Assistance Systems Solution Type Outlook (Volume, Million Units; Revenue, Billion, 2018 - 2030)

  • Adaptive Cruise Control
  • Blind Spot Detection System
  • Park Assistance
  • Lane Departure Warning System
  • Tire Pressure Monitoring System
  • Autonomous Emergency Braking
  • Adaptive Front Lights
  • Others

Advanced Driver Assistance Systems Component Type Outlook (Volume, Million Units; Revenue, Billion, 2018 - 2030)

  • Processor
  • Sensors
  • Software
  • Others

Advanced Driver Assistance Systems Vehicle Type Outlook (Volume, Million Units; Revenue, Billion, 2018 - 2030)

  • Passenger Car
  • Commercial Vehicle

Advanced Driver Assistance System Region Outlook (Volume, Million Units; Revenue, Billion, 2018 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

Key Companies profiled:

Some prominent players in the global Advanced Driver Assistance System market include

  • Denso Corporation
  • Continental AG
  • Infineon Technologies AG
  • Magna International
  • Autoliv Inc.

Order a free sample PDF of the Advanced Driver Assistance System Market Intelligence Study, published by Grand View Research.

Comments

Post a Comment

Popular posts from this blog

Spinal Implants & Devices Market Forecast Analysis by Manufacturer, Types, Applications and Regions 2023 – 2030

  Spinal Implants & Devices Industry Overview The global  Spinal Implants & Devices Market  size is expected to reach USD 19.0 billion by 2030 and is expected to expand at a CAGR of 5.2% in the forecast period, from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing number of vehicular accidents is leading to increasing new cases of spinal cord injuries (SCIs). Other causes of SCIs include falls, violence, acts of violence, sports and recreation injuries, and diseases. Vehicular or road accidents and falls account for the majority of SCI cases. Fall-induced SCI is common among people aged 65 years and above. Acts of violence such as gunshot wounds or knife wounds account for around 12% of SCI cases. Sports activities such as diving in shallow water and impact sports lead to nearly 10% of SCIs. Cancer, osteoporosis, arthritis, and inflammation of the spinal cord also cause SCI. Based on National Spinal Cord Injury Statistical Center da...
Read more

Latin America Pharmaceutical Contract Manufacturing & Research Services Market Overview, Cost Structure Analysis and Forecast to 2030

  Latin America Pharmaceutical Contract Manufacturing & Research Services Industry Overview The  Latin America Pharmaceutical Contract Manufacturing & Research Services Market  size is expected to reach USD 40.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 7.5% from 2022 to 2030. The low cost of drug registration in Latin American countries and the economic growth are the key factors contributing to progress in this region. Moreover, factors such as the growing demand for generics, rising investments in R&D, the growing geriatric population, and the increasing burden of chronic diseases are responsible for market growth. The outbreak of COVID-19 has boosted the market growth as companies have increased investments in R&D and manufacturing to develop vaccines and drugs against the COVID-19. During the coronavirus outburst, the supply chains of biopharmaceutical companies remained robust...
Read more

Europe Orthopedic Navigation Systems Market - Global Industry Insights, Trends and Growth Opportunity Analysis to 2030

  Europe Orthopedic Navigation Systems Industry Overview The  Europe Orthopedic Navigation Systems Market  size is expected to reach USD 2,504.4 million by 2030, according to a new report published by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.8% from 2023 to 2030. The rising number of target diseases especially in the geriatric population is responsible for the rapid growth of the market. According to the Executive Agency for Health and Consumers, one in ten people in the geriatric population in Europe is suffering from osteoarthritis. Minimal invasion and low post-operative complications associated with computer-assisted surgery are anticipated to drive regional market growth over the forecast period. Moreover, the introduction of technologically advanced products is expected to induce demand for  orthopedic navigation systems . For instance, Orthokey Italia developed a new version of KiRA system integrating it with the iPad to ...
Read more