Reports And Data

Advanced Driver Assistance Systems (ADAS) Market Size – expansion of the automotive industry and growing demand for premium cars with an in-built ADAS system.

NEW YORK, NY, UNITED STATES, February 21, 2022 /EINPresswire.com/ -- The growing demand for safe and efficient vehicles, coupled with a rise in government initiatives regarding safety features provided in vehicles, is stimulating market growth.

Market Size – USD 24.05 Billion in 2019, Market Growth - CAGR of 21.9%, Market Trends – Global expansion of the automotive industry and growing demand for premium cars with an in-built ADAS system.

The Global Advanced Driver Assistance Systems (ADAS) Market is projected to reach USD 118.03 billion in 2027. The continual development in the vehicle autonomy and automotive electronics sensor system applications & technology, the rising concern for passenger safety while in the vehicle, increasing demand for higher degree of automation in automobiles, higher demand for the nextgen concept cars from the high-earning consumers and increasing use of sensor systems in hybrid, semi hybrid & electric cars are the factors effectively boosting the demand of the Advanced Driver Assistance Systems (ADAS) market.

Usage of the sensor systems has been enormous in all the segments of automotive. Advanced sensory or the driver assistance systems are being incorporated in almost all the parts of a vehicle. Chassis, clutch, engines, transmission, brakes, control, dashboard and safety systems are some of the constituents where a high number of ADAS equipment are being installed. Apart from monitoring the speed, pressure, position, gas, outer ambience, and temperature inside the engine, the ADAS equipment are used for safe & efficient operations of the powertrains.

The surging demand for autonomous vehicles has created plenty of opportunities for leading automakers like Tesla, Toyota, Honda, and others. These industry players are implementing the ADAS in their fully autonomous and semi-autonomous vehicles at large. The continuous development and implementation of ADAS as a key safety feature and extensive investment in R&D are poised to reinforce Advanced Driver Assistance System market trends through 2027.

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Key players in the market include Robert Bosch, Valeo S.A., Hyundai Mobis, Visteon, Faurecia, Samsung, Intel, Mobileye, Waymo, Microsoft, Magna International, Denso, Veoneer, Continental AG, ZF Friedrichshafen, Aptiv, and Atmel Corporation, among others.

Further key findings from the report suggest

• On the basis of component, the hardware segment is estimated to occupy the majority of the Advanced Driver Assistance Systems market share over the forecast period. However, the software segment will exhibit growth through 2027 due to rapid technological development.
• On the basis of vehicle, the passenger vehicle segment is estimated to hold a major chunk of the ADAS market share through 2027 on account of reforms related to the scrapping of conventionally powered vehicles and the rapid proliferation of electric cars. In 2019, the passenger vehicle segment was cumulative to a revenue generation of nearly USD 5.13 Billion in the European region.
• In the regional landscape, North America is forecast to hold the largest market share over the forecast period on account of mounting demand for safe and efficient vehicles in the region.
• Europe is estimated to contribute significantly to the Advanced Driver Assistance Systems market revenue share through 2027. The robust growth can be attributed to the rise in favorable government initiatives in the region related to driver and passenger safety.
• The Asia Pacific region is anticipated to witness major growth over the analysis period due to the rising number of vehicles and increased demand for premium vehicles in China and India.
• In January 2020, TTTech Auto, a global leader in the safety software platforms for autonomous driving (AD) and beyond, announced its acquisition of the Turkish software company Red Pine Software, an expert in ADAS. By this acquisition TTTech Auto created its firm growth strategy and increased its software development capacities for ADAS and Automated Driving series development projects that features its flagship product MotionWise.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/advanced-driver-assistance-systems-adas-market

For the purpose of this study, Reports and Data have segmented the Advanced Driver Assistance Systems (ADAS) Market on the basis of System, Component, Type, Vehicle, Propulsion, and Region:

System Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)

• Adaptive Cruise Control
• Adaptive Front Light
• Automatic Emergency Braking
• Blind Spot Detection
• Cross Traffic Alert
• Driver Monitoring System
• Forward Collision Warning
• Intelligent Park Assistance
• Lane Departure Assistance
• Night Vision System
• Pedestrian Detection System
• Road Sign Recognition
• Traffic Jam Assist
• Others

Component Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)

• Hardware
• Software

Type Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)

• Image Sensor
• LiDAR Sensor
• Ultrasonic Sensor
• Infrared Sensor
• Radar Sensor
• Laser
• Capacitive Sensor
• Others

Vehicle Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)

• Passenger Vehicle
o Mid-sized car
o Sedan
o Minivan
o Convertible
o Crossover
o Hatchback
o Others
• Light Commercial Vehicle (LCV)
o Compact
o Utility Vehicle
o Supermini
o Light Truck
o Others
• Heavy Commercial Vehicle (HCV)
o Mobile Truck
o Limo
o Recreational Vehicle
o Towing Truck
o Fire Trucks
o Others

Propulsion Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)

• Electric
o Battery Electric Vehicle
o Fuel Cell Electric Vehicle
o Hybrid Electric Vehicle
o Plug-in Hybrid Electric Vehicle
• Petrol
• Diesel

Regional Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)

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

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Key Advantages of Advanced Driver Assistance Systems (ADAS) Report:

• Identification and analysis of the market size and competition
• Qualitative and quantitative analysis of the market data
• Data validated by industry experts after extensive primary and secondary research
• Extensive regional analysis of the Advanced Driver Assistance Systems (ADAS) industry
• Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
• SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
• Feasibility analysis and investment analysis to enable strategic investment decisions
• Analysis of opportunities, drivers, restraints, challenges, risks, and limitations

Conclusively, all aspects of the Advanced Driver Assistance Systems (ADAS) market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

Tushar Rajput
Reports and Data
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