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Advanced Driver Assistance Systems Market Expected to Reach $133.7 Billion by 2032—Allied Market Research

 
2022
Advanced Driver Assistance Systems Market

Report Code : A00518

quote By system type, the tire pressure monitoring system (TPMS) segment dominated the global market in 2022, in terms of revenue. The adaptive front-lighting system segment is expected to lead the market throughout the forecast period. By sensor type, the radar sensor segment accounted for a major share in 2022. Based on vehicle type, the buses segment is anticipated to witness lucrative growth over the forecast timeframe. At present, Asia-Pacific is the highest revenue contributor, followed by Europe quote

Omkareshwar Singh - Lead Analyst
Automotive and Transportation at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Advanced Driver Assistance Systems Market," The ADAS market size was valued at $40.4 billion in 2022, and is estimated to garner $133.7 billion by 2032, growing at a CAGR of 13% from 2023 to 2032.

Advanced Driver Assistance Systems (ADAS) are a collection of features and technology built into cars to help drivers increase their driving comfort, safety, and effectiveness. Different sensors, cameras, and communication systems are used by ADAS to monitor the environment around the vehicle, identify potential hazards, and send out timely alerts or trigger automated responses to avoid or lessen crashes and other traffic problems..

Europe is one of the largest revenue contributors to the global ADAS market, owing to factors such as high demand for comfort driving and implementation of Euro-NCAP ratings for cars. Adaptive front lighting system is the key application segment, which is expected to gain prominence in Europe due to stringent government regulations in many countries of the region. Moreover, vehicle safety and driver comfort have piqued the interest of automotive manufacturers in Europe.

Technical developments in the sector for efficient enforcement of safety features and better drive quality lead toward the growth of the automotive industry. With the rise in popularity of autonomous driving, the adoption of ADAS has increased in safety systems of automobiles. The presence of supportive legislation, and cost-effective vehicles fuel the use of safety systems in cars to improve safety and comfort. Automotive manufacturers in the region have focused on reducing road fatalities by adopting various safety ensuring programs such as eSafety Aware and other informative campaigns.

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. Similarly, Autoliv developed an advanced algorithm that enables the camera to recognize and track visible objects such as speed signs, lane markings, and vehicles.

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.

A blind spot detection system uses sensors to detect objects not visible to the driver. In the forthcoming years, increase in demand for luxury cars in regions, such as the U.S., Europe, and Asia-Pacific, is anticipated to drive the market growth. In addition, rise in penetration of premium cars fuels the growth of the market. The penetration of premium cars has witnessed higher adoption in emerging economies owing to a better income of the customers. The application scope of the market has increased with the addition of new features such as lane change assistance and cross traffic alerts. Blind spot detection as a standalone application was not receive popularity, but the system has witnessed notable growth with the development of add-on features.

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.

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.

COVID-19 Impact Analysis on ADAS Industry

The COVID-19 pandemic resulted in decreased consumer spending on non-essential products, such as new cars, during the epidemic as consumers prioritized paying for necessities. This had a negative impact on the total demand for vehicles, equipped with ADAS. However, post pandemic, Safety became an important factor, leading to a rise in interest in ADAS features that improve vehicle safety and aid in accident avoidance. Additionally, governments all around the world implemented a variety of economic stimulus plans to revitalize industries, including the car industry.

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.

Key players operating in the global advanced driver assistance systems market include Autoliv Inc., Continental AG, DENSO Corporation, Magna International Inc., ROBERT BOSCH GMBH, Valeo, NXP Semiconductors, Panasonic Corporation, Renesas Electronics Corporation, and Texas Instruments. The companies are adopting strategies such as product development, expansion, acquisition, product development, and others to improve their market positioning

 

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quote Advanced Driver Assistance Systems Market by System Type (Tire Pressure Monitoring System (TPMS), Drowsiness Monitor System, Intelligent Parking Assist System (IPAS), Adaptive Cruise Control System, Blind Spot Object Detection System, Lane Departure Warning System, Adaptive Front-lighting System, Others), by Sensor Type (Image Sensor, Lidar Sensor, Ultrasonic Sensor, Infrared (IR) Sensor, Radar Sensor, Laser), by Vehicle Type (Passenger Car, Light Commercial Vehicle, Buses, Trucks): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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