Dublin, Jan. 16, 2024 (GLOBE NEWSWIRE) — The “ADAS Market by Type, Automation, Component, Vehicle, End Use, and Geography – Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global ADAS market is projected to reach $106.55 billion by 2030, at a CAGR of 14.0% from 2023 to 2030.
The research report provides an in-depth analysis of the ADAS market in five major geographies and emphasizes on the current market trends, size, and share, recent developments, and forecasts till 2030.
Advanced Driver Assistance Systems (ADAS) is a set of technologies that help drivers to avoid accidents. ADAS systems use sensors, cameras, and radar to detect objects and events around the vehicle. The growth of the ADAS market is driven by stringent vehicle safety regulations, the rising demand for luxury cars, and the increasing integration of safety and comfort features in high-end vehicles.
However, the lack of supporting infrastructure in developing countries restrains the growth of this market. Moreover, the emergence of autonomous vehicles, increasing developments in the autonomous shared mobility space, and the rising adoption of electric vehicles are expected to generate market growth opportunities. However, environmental and data security risks and the high costs of implementing ADAS are major challenges for the players operating in this market.
The blind spot detection systems segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the expanding e-commerce and logistics sector, the increasing adoption of BSD systems in vehicles, and the rising use of complementary metal oxide semiconductors (CMOS) image sensors.
The level 3 segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the rising demand for self-driving vehicles and the increasing initiatives by major market players aimed at launching advanced Level 3 autonomous cars.
The sensors segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the rising need to reduce greenhouse gas emissions and the increasing demand for sensors in hybrid powertrains.
The electric vehicles segment is projected to register the highest CAGR during the forecast period. The supportive government policies and regulations, increasing investments by leading automotive OEMs, rising environmental concerns, decreasing prices of batteries, and advancements in charging technologies are the key factors driving the growth of electric vehicles in the ADAS market.
The commercial vehicles segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increase in fuel prices and stringent emission norms set by governments, the growing adoption of autonomous delivery vehicles, and the increasing adoption of electric buses and trucks.
Europe is expected to command the highest CAGR of the global ADAS market. The market growth in the region is attributed to the huge presence of component manufacturers, the growth of the overall automotive sector, and the high demand for sensors for automated vehicle prototypes.
Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of system type, level of automation, component, vehicle type, end use, and geography?
- What is the historical market size for the ADAS market across the globe?
- What are the market forecasts and estimates for the period 2023-2030?
- What are the major drivers, restraints, opportunities, and challenges in the global ADAS market?
- Who are the major players in the market, and what are their market shares?
- How is the competitive landscape for the global ADAS market?
- What are the recent developments in the global ADAS market?
- What are the different strategies adopted by the major players in the market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global ADAS market, and how do they compete with other players?
Market Insights
Factors Affecting Market Growth (2023-2030)
- Increasing Integration of Safety and Comfort Features in High-end Vehicles Driving the Adoption of ADAS
- Increasing Developments in the Autonomous Shared Mobility Space Generating Growth Opportunities for Market Stakeholders
- Lack of Supporting Infrastructure in Developing Countries Limiting the Potential of ADAS
- Reducing the Costs of Implementing ADAS to Remain a Major Challenge for Market Players
Case Studies
Value Chain Analysis
Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- Continental AG (Germany)
- Valeo SA (France)
- Robert Bosch GmbH (Germany)
- ZF Friedrichshafen AG (Germany)
- Aptiv PLC (Ireland)
- Autoliv Inc. (Sweden)
- Denso Corporation (Japan)
- Garmin Ltd. (U.S.)
- Infineon Technologies AG (Germany)
- Magna International Inc. (Canada)
- Mobileye B.V. (Israel)
- Huawei Technologies Co. Ltd. (China)
- Qualcomm Technologies Inc. (U.S.)
- Microsoft (U.S.)
- NXP Semiconductors N.V. (Netherlands)
Scope:
ADAS Market – by System Type
- Blind Spot Detection Systems
- Parking Assistance Systems
- Lane Departure Warning Systems
- Adaptive Front-Lighting Systems
- Forward Collision Warning Systems
- Driver Monitoring Systems
- Night Vision Systems
- Adaptive Cruise Control Systems
- Automatic Emergency Braking Systems
- Tire Pressure Monitoring Systems
- Traffic Sign Recognition Systems
- Pedestrian Detection Systems
- Traffic Jam Assistance Systems
ADAS Market – by Level of Automation
- Level 1
- Level 2
- Level 3
ADAS Market – by Component
- Vision Camera Systems
- Sensors
- LiDAR
- Radar
- Ultrasonic Sensors
- GPS/GNSS Sensors
- ECU
- Software
- Actuators
ADAS Market – by Vehicle Type
- ICE Vehicles
- Petrol Vehicles
- Diesel Vehicles
- CNG Vehicles
- Other Vehicles
- Hybrid Vehicles
- Pure Hybrid Vehicles
- Plug-in Hybrid Vehicles
- Electric Vehicles
ADAS Market – by End Use
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
ADAS Market – by Geography
- North America
- U.S.
- Canada
- Asia-Pacific
- China
- Japan
- South Korea
- Indonesia
- Thailand
- India
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Russia
- Sweden
- Netherlands
- Italy
- Spain
- Denmark
- Rest of Europe
- Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/gt8rhb
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Source: Vietnam Insider