Advanced Driver Assistance Systems

The report provides a detailed analysis of these key players of the global advanced driver assistance systems market.

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, June 4, 2024 /EINPresswire.com/ -- The growth of the global Advanced Driver Assistance Systems (ADAS) Market is driven by factors such as the high demand for safety features, increased demand for comfort while driving, stringent safety rules and regulations. The global advanced driver assistance systems market size was valued at $40.4 billion in 2022, and is projected to reach $133.7 billion by 2032, growing at a CAGR of 13% from 2023 to 2032.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/639

The advanced driver assistance systems market in regions such as America, Europe, China, and Japan, owing to the stringent regulations for safety in the automotive industry. Blind spot detection systems are useful in reducing the frequency of accidents. However, the rise in the number of accidents for night driving has significantly contributed toward the growth of the blind spot detection systems market. These systems have high product differentiation, which enables market players to sustain the intense competition in the industry.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

AUTOLIV INC., NXP Semiconductors, Panasonic Holdings Corporation, Renesas Electronics Corporation, Magna International Inc., Robert Bosch GmbH, Denso Corporation, Valeo SA, Continental AG, Texas Instruments Incorporated

High intensity discharge lamps (HID) lights improve drivability at night. Automotive electronics manufacturers have prioritized the development of Infrared cameras to develop better vision assisting systems for cars. The demand for electronic equipment has rapidly increased to improve driving and vehicle safety. Companies operating in the region have adopted various strategies to consolidate their market positions and deliver safety systems for cars. Bosch, one of the key players in Europe, entered into a partnership with TomTom, to integrate its navigation technology and maps in its Advanced Driver Assistance Systems size. Similarly, Autoliv developed an advanced algorithm that enables the camera to recognize and track visible objects such as speed signs, lane markings, and vehicles.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/9e0ffab4286dce7c18cfe086a6618c3e

Blind spot detection system detects objects within a blind spot with the help of unique sensors. Mostly, image sensors are used to transmit an image to the monitor to provide vital information to the driver. These sensors initiate an alarm after sensing the presence of an object within the blind spot.

Based on the sensor type, the radar sensor segment held the highest market share in 2022, accounting for nearly one-third of the global advanced driver assistance systems market revenue and is estimated to maintain its leadership status throughout the forecast period increase in the trend of using radar sensors in medium-sized and low cost or small car segments. However, the infrared (IR) sensor segment is projected to manifest the highest CAGR of 16.5.0% from 2023 to 2032, owing to a reduction in the prices of end-user applications, the positive impact of government regulation for safety, and the high demand for comfort.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the advanced driver assistance systems market revenue and is likely to dominate the market during the forecast period, as there is an increase in the development and launch of luxury cars with innovative advanced driving assistance systems. However, the Europe region is expected to witness the fastest CAGR of 13.7% from 2023 to 2032, owing to presence of supportive legislation, and cost-effective vehicles fuel the use of safety systems in cars to improve safety and comfort.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/639

The system displays a warning in the rear-view mirror in presence of a vehicle in the blind spot. For instance, Volvo and Ford use a sensor-based system that alerts the driver if a vehicle enters the blind spot while changing lanes. Similarly, Mercedes, Nissan, Chrysler, and other companies have different blind spot warning systems. The U.S. and European automotive industry are one of the largest and most innovative automotive markets in the world. There is rapid market penetration and mass adoption of ADAS among customers with the massive transformation in the industry. For instance, in August 2020, Pioneer Electronics (USA) Inc. launched its blind spot detection (BSD) system lineup, the SDA-BS900, SDA-BS100 and SDA-BS1. It also offers consumers an aftermarket solution that combines technology to assist drivers by notifying them when there is a vehicle entering their blind spot zone.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By system type, the adaptive front-lighting system segment is anticipated to exhibit significant growth in the near future.

By sensor type, the infrared (IR) sensor segment is anticipated to exhibit significant growth in the near future.

By vehicle type, the buses segment is anticipated to exhibit significant growth in the near future.

By region, Europe is anticipated to register the highest CAGR during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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David Correa
Allied Market Research
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