GlobalAdvanced Driver Assistance Systems (ADAS) Market- Industry Trends & Forecast Report - PDF document

Global Advanced Driver Assistance Systems (ADAS) Market- Industry Trends & Forecast Report 2027 Global Advanced Driver Assistance Systems (ADAS) Market- Industry Trends & Forecast Report 2027 Summary Global Advanced Driver Assistance Systems (ADAS) Market, By System (Adaptive Cruise Control (ACC), Autonomous Park Assist, Blind Spot Detection, Driver Monitoring, Front Lighting, Automatic Emergency Braking, Night Vision, Forward Collision Warning, Lane Departure Warning, Surround View System, Road Sign Recognition, Tire Pressure Monitoring System), By Sensor (LiDAR, Infrared, Ultrasonic, RADAR, Image Sensor), By Vehicle (Passenger Cars, Light Commercial Vehicle (LCV), Medium Commercial Vehicle (MCV), Heavy Commercial Vehicle (HCV)), By Region (North America, Europe, the Asia Pacific, the Middle East & Africa and Latin America) Trend Analysis, Competitive Market Share & Forecast, 2017-2027 Global Advanced Driver Assistance Systems (ADAS) Market- Industry Trends & Forecast Report 2027 View report Press release Sample report Global Advanced Driver Assistance Systems (ADAS) Market- Industry Trends & Forecast Report 2027 The global Advanced Driver Assistance Systems (ADAS) market was worth USD 25.1 billion in 2020 and is further projected to reach USD 69.4 billion by 2027, at a CAGR of16.4% during 2021-2027 (forecast period). Increasing government regulations, the rising level of technological innovations, and the growing demand for self-driving cars have raised the demand for driver safety and assistance systems over the past decade. This is attributed to growth in safety concerns, as the number of road accidents, is a constant rise, especially in developing countries. Governments and policymakers across the globe are continuously working towards reducing fatalities caused by road accidents by increasing the safety standards in vehicles, which in turn is driving the global ADAS market. Global Advanced Driver Assistance Systems ADAS Overview Advanced driver assistance system (ADAS) is a set of electronic systems used in vehicles to deliver an intelligent and comfortable driving experience. These electronic systems are used in vehicles that use advanced technologies to assist the driver. ADASmay includes several active safety features. The terms “ADAS” and “active safety” are often used interchangeably.ADAS perceives the environment around the vehicle using sensors such as radar and cameras in the vehicles. Based on its perception, it either provides information to the driver or takes automatic action based on what it perceives. Global Advanced Driver Assistance Systems ADAS Market Trend Growth Drivers Growing Concern Over Safety of Driver and Vehicle The growing number of safety features aimed at improving driver, passenger, and pedestrian safety can go a long way towards reducing the severity and overall number of motor vehicle accidents. ADAS warns drivers of potential dangers, and intervenes to assist the driver in maintaining control in order to avoid a collision/accident. If required, it also minimizes the severity of an accident if it cannot be circumvented. Car manufacturers are adopting such cutting-edge technologies to design a wide array of safety and convenience-focused features so as to catch the fancy of consumers, which in turn is driving the growth of ADAS in the global market. Penetration of Electric and Hybrid Vehicle The shift from conventional vehicles to electric and hybrid vehicles is aiding the development of the ADAS market. Consumers’ preference towards electric and hybrid vehicles owing to their capabilities, such as energy-efficiency, advanced electronic systems, and zero direct carbon emission, would further propel the market growth. Consequently, the leaders in the global automotive market are Global Advanced Driver Assistance Systems (ADAS) Market- Industry Trends & Forecast Report 2027 making a huge investment in the development of high-end hybrid cars. Several governments around the world are also enforcing regulations to reduce carbon emissions, which in turn is driving the increased adoption of electric and hybrid vehicles. Also, surging consumer preference toward advanced parking assistance, a head-up display, and powerful infotainment system technologies are bolstering the growth of the ADAS market. Restrains The Lack of Required Infrastructure in Developing Countries The lack of basic infrastructures, such as well-organized highways, lane marking, and GPS availability in developing countries is making ADAS ineffective. Additionally, unorganized and poor infrastructure in developing countries, combined with cost considerations, and poor driver training/driving discipline, stymying the growth of the ADAS sector in developing countries. Also, the high costs of these advanced systems due to huge R&D investments in their development, raise the vehicle's production cost, further restraining the growth of the global ADAS market. Impact of COVID-19 Novel coronavirus has affected the global economy besides affecting business operations. Due to the high infection rates and adverse impact on public health systems, various countries had to enforce nationwide lockdowns which had a major impact on industrial supply chains, trade, and related services. Industry players are currently considering digital solutions to serve the community and explore newfangled opportunities to do business. COVID-19 had a negative impact on the global ADASmarket as it stalled the development of several industries, including the automotive industry which is an ADAS end-user. Additionally, nationwide lockdowns had a negative effect on vehicle sales, supply chain, and logistics, which in turn had stifled the growth of the ADASsector. Production, operation, and infrastructural development activities have decelerated owing to the spread of coronavirus, which is further anticipated to impact the demand. Additionally, the Asia-Pacific is expected to be severely impacted by the spread of COVID-19 as a result of the pandemic’s impact on China, Japan, and India. The massive spread of COVID-19 compelled around 96% of the German automotive industry to put its workforce on a short-term during the nationwide lockdown. Global Advanced Driver Assistance Systems (ADAS) Market: By System Based on system, the ADAS market is segmented into adaptive cruise control, autonomous parking assist, blind-spot detection, driver monitoring, front lighting, Global Advanced Driver Assistance Systems (ADAS) Market- Industry Trends & Forecast Report 2027 automatic emergency braking, night vision, forward collision warning, lane departure warning, surround-view system, traffic sign recognition, tire pressure monitoring, and others. Among them, the adaptive cruise control (ACC) system is dominating the global ADAS market. ACC is an intelligent form of cruise control that automatically controls a vehicle’s acceleration and braking. ACC slows down and speeds up automatically to keep pace with the car in front of the vehicle. As a result, it improves driver safety and helps prevent fatal road accidents. ACC will be a critical component of the self-driving cars of the near future. The acceptance of ADAS technology has been boosted by a substantial drop in the prices of electronic components. Additionally, the ADAS market would benefit from the growing demand for both commercial and passenger cars. Last but not least, Road Sign Recognition (RSR) is projected to be the fastest-growing segment of the ADAS Market due to the growing road infrastructure activities in developed as well as developing economies. Global Advanced Driver Assistance Systems (ADAS) Market: By Sensor Based on the sensor, the ADAS market is bifurcated into Light Detection and Ranging (LiDAR), infrared, ultrasonic, radar, and image sensor. Radio Detection and Ranging (RADAR) the segment is likely to dominate the ADAS market over the forecast period. The ability of signal saturation through mediums that contain fog, clouds, snow, and insulators are key attributes projected to fuel the segment demand. These sensors are capable of preventing accidents caused by driver error, drowsiness, or distraction, which in turn is driving the growth of the globally advanced driver assistance system market. Additionally, LiDAR sensors are projected to gain high traction over the forecast period due to their crucial role in self-driving cars. Global Advanced Driver Assistance Systems (ADAS) Market: Regional Insights Geographically, the ADASmarket is categorized into North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America. North America leads the global ADAS industry and is projected to lead the overall industry during the forecast period. The growth is mainly driven by the presence of major players, technological advancements, better infrastructure facilities for manufacturing, enhanced economic condition, and rapid penetration and mass adoption of ADAS by the original equipment manufacturers (OEMs) and customers. Additionally, the Asia-Pacific is likely to be the fastest-growing region over the forecast period owing to the increase in the number of luxury vehicles, technological advancements, and rising urbanization rates, which are positively influencing the market. Global Advanced Driver Assistance Systems (ADAS) Market- Industry Trends & Forecast Report 2027 Competitive Landscape New entrants have a much lower chance of succeeding as it is difficult to match the high capital requirements of the market’s leading players. Some of the key players includeRobert Bosch, ZF Friedrichshafen, Denso, Aptiv, Brentwood Industries Inc., Enexio, Intel, NVIDIA, Continental, Valeo, Hella, Magna, Samsung, Aisin Seiki Co. Ltd, Delphi Technologies, Harman International, NXP Semiconductor, Panasonic Corporation, Hyundai Mobis, and other prominent Players. In order to improve their production capability, product portfolio, and provide competitive differentiation, companies are increasingly participating in acquisitions, alliances, and mergers. Recent Development  On 11 January 2021, Aptiv introduced next-gen ADAS platform for highly automated and electrified vehicles. The open and scalable ADAS framework, which is part of Aptiv’s Smart Vehicle Architecture, helps the software-defined vehicle minimize complexity and lower overall system costs.  On 9 January 2021, NIO, a market leader in China’s premium smart electric vehicle market, entered into a partnership with American multinational technological company NVIDIA to develop a new generation of electric vehicles using NVIDIA DRIVE Orin system-on-a-chip (SoC) to offer advanced automated driving capabilities.NIO is working to make consumer acceptance of smart, high-performing electric vehicles a reality. Scope of the Report Attribute Details Years Considered Historical data – 2017-2020 Base Year – 2021 Forecast – 2021 – 2027 Facts Covered Revenue in USD Billion Market Coverage U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, UAE, South Africa, Saudi Arabia Product/Service Segmentation By system, vehicle type, sensor, and region Key Players Key Players for Market Includes: - Robert Bosch, ZF Friedrichshafen, Denso, Aptiv, Brentwood Industries Inc., Enexio, Intel, NVIDIA, Continental, Valeo, Hella, Magna, Samsung, Aisin Seiki Co. Ltd, Delphi Technologies, Harman Global Advanced Driver Assistance Systems (ADAS) Market- Industry Trends & Forecast Report 2027 International, NXP Semiconductor, Panasonic Corporation, Hyundai Mobis, Other Prominent Players By System  Adaptive Cruise Control (ACC)  Autonomous Park Assist  Blind Spot Detection  Driver Monitoring  Front Lighting  Automatic Emergency Braking  Night Vision  Forward Collision Warning  Lane Departure Warning  Surround View System  Road Sign Recognition  Tire Pressure Monitoring System  Others By Sensor  LiDAR  Infrared  Ultrasonic  RADAR  Image Sensor Global Advanced Driver Assistance Systems (ADAS) Market- Industry Trends & Forecast Report 2027 By Vehicle  Passenger Cars  Light Commercial Vehicle (LCV)  Medium Commercial Vehicle (MCV)  Heavy Commercial Vehicle (HCV) By Region  The Asia-Pacific  North America  Europe  The Middle East & Africa  Latin America FAQs: 1. What is the current size of the global advanced driver assistance system market? Answer: The global ADAS market has reached USD 25.1 billion in 2020. 2. What are the major factors driving the growth of the global ADAS market? Answer: The major factors driving the growth of the global ADAS market are growing concerns over the safety of driver and vehicle and penetration of electric and hybrid vehicles. 3. Who are the key players in the global ADAS market? Answer: The key players in the global ADAS market are Robert Bosch, ZF Friedrichshafen, Denso, Aptiv, Brentwood Industries Inc., Enexio, Intel, NVIDIA, Continental, Valeo, Hella, Magna, Samsung, Aisin Seiki Co. Ltd, Delphi Technologies, Harman International, NXP Semiconductor, Panasonic Corporation, Hyundai Mobis, and other prominent players. 4. Which system accounted for the largest share in the global ADAS market? Answer: Adaptive cruise control system accounted for the largest share in the global ADAS market. 5. Which region growing at a higher rate in the global ADAS market? Answer: The Asia-Pacific is growing at a higher rate in the global ADAS market. Global Advanced Driver Assistance Systems (ADAS) Market- Industry Trends & Forecast Report 2027 About us Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. 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