Acumen Research and Consulting recently published report titled “Advanced Driver Assistance Systems Market Forecast, 2022 – 2030”
TOKYO, March 08, 2023 (GLOBE NEWSWIRE) — The Global Advanced Driver Assistance Systems (ADAS) Market Size accounted for USD 19.7 Billion in 2021 and is estimated to achieve a market size of USD 90.1 Billion by 2030 growing at a CAGR of 18.7% from 2022 to 2030.
Advanced Driver Assistance Systems Market Research Report Highlights and Statistics:
- The Global Advanced Driver Assistance Systems Market Size in 2021 stood at USD 19.7 Billion and is set to reach USD 90.1 Billion by 2030, growing at a CAGR of 18.7%
- ADAS technology has gained significant popularity in recent years, owing to its ability to improve road safety, reduce accidents, and enhance the driving experience.
- The demand for ADAS systems is driven by the increasing focus on safety, rising demand for luxury vehicles, and government regulations mandating the use of advanced safety features in vehicles.
- The ADAS system market is expected to grow significantly in the coming years, owing to the increasing demand for autonomous vehicles and the growing adoption of advanced safety features.
- North America is the largest Advanced Driver Assistance Systems market. Europe is the second-largest ADAS systems market. The Asia Pacific region is expected to witness the fastest growth in the Advanced Driver Assistance Systems market.
- Key players operating in the Advanced Driver Assistance Systems market include Continental AG, Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, Aptiv PLC, Hyundai Mobis, Valeo, Magna International Inc., NXP Semiconductors N.V., and Infineon Technologies AG.
- The increasing demand for electric vehicles and the growing trend of connected cars are expected to drive the growth of the Advanced Driver Assistance Systems market in the coming years.
- The COVID-19 pandemic has had a significant impact on the Advanced Driver Assistance Systems market, with the temporary closure of automotive manufacturing facilities and disruptions in the supply chain affecting the production and sales of ADAS systems.
Request For Free Sample Report @ https://ift.tt/fA2i7qI
Advanced Driver Assistance Systems Market Report Coverage:
| Market | Advanced Driver Assistance Systems Market | |
| Advanced Driver Assistance Systems Market Size 2021 | USD 19.7 Billion | |
| Advanced Driver Assistance Systems Market Forecast 2030 | USD 90.1 Billion | |
| Advanced Driver Assistance Systems Market CAGR During 2022 – 2030 | 18.7% | |
| Advanced Driver Assistance Systems Market Analysis Period | 2018 – 2030 | |
| Advanced Driver Assistance Systems Market Base Year | 2021 | |
| Advanced Driver Assistance Systems Market Forecast Data | 2022 – 2030 | |
| Segments Covered | By System Type, By Component Type, By Vehicle Type, And By Geography | |
| Advanced Driver Assistance Systems Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Continental AG, Robert Bosch GmbH, Autoliv, ZF Friedrichshafen, Magna International, Nidec Corporation, Texas Instruments, Infineon Technologies AG, TRW Automotive, and Hitachi Automotive. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Advanced Driver Assistance Systems Market Overview:
The Advanced Driver Assistance Systems (ADAS) Market is a rapidly growing sector in the automotive industry. ADAS technology encompasses a range of safety features that assist drivers in navigating the roads, such as lane departure warning systems, adaptive cruise control, and blind spot detection. The demand for ADAS systems is driven by the increasing focus on road safety, rising demand for luxury vehicles, and government regulations mandating the use of advanced safety features. The ADAS market is expected to grow significantly in the coming years, owing to the increasing adoption of electric and autonomous vehicles and the growing trend of connected cars. Key players in the ADAS market include Continental AG, Robert Bosch GmbH, and Denso Corporation. The ADAS market is poised for significant growth as the automotive industry continues to evolve and prioritize safety and driver assistance technologies.
Trends in the Advanced Driver Assistance Systems Market:
- Integration of ADAS with connected cars: The trend of connected cars is driving the integration of ADAS systems with in-vehicle communication systems, enabling real-time communication between vehicles and infrastructure.
- Growing popularity of electric vehicles: The increasing demand for electric vehicles is driving the adoption of ADAS systems, as these vehicles require advanced safety features to address the unique challenges of electric drivetrains.
- Use of artificial intelligence and machine learning: The use of AI and machine learning is becoming increasingly common in ADAS systems, enabling advanced capabilities such as predictive analytics and intelligent decision-making.
- Increasing demand for cybersecurity: With the growing connectivity of ADAS systems, the demand for cybersecurity is also increasing, as these systems become vulnerable to cyber attacks.
- Adoption of 5G connectivity: The adoption of 5G connectivity is expected to drive the development of advanced ADAS systems, as the high-speed and low-latency connectivity of 5G can enable real-time communication between vehicles and infrastructure.
- Emergence of lidar technology: Lidar technology is becoming increasingly popular in ADAS systems, enabling advanced object detection and identification.
- Integration of ADAS with advanced telematics systems: The integration of ADAS with advanced telematics systems is enabling real-time tracking of vehicles and providing valuable data for fleet management.
- Use of advanced sensors: The use of advanced sensors such as ultrasonic, radar, and cameras is becoming increasingly common in ADAS systems, enabling advanced capabilities such as 360-degree view and enhanced object detection.
Advanced Driver Assistance Systems Market Dynamics:
- Growing demand for road safety: The increasing number of road accidents is driving the demand for advanced safety features such as ADAS systems.
- Government regulations: Governments around the world are mandating the use of advanced safety features in vehicles, which is driving the growth of the ADAS market.
- Increasing demand for luxury vehicles: The growing demand for luxury vehicles, which are equipped with advanced safety features, is driving the growth of the ADAS market.
- Development of new ADAS applications: The development of new ADAS applications, such as advanced parking systems and pedestrian detection, is expanding the Advanced Driver Assistance Systems market.
- Cost reduction: The reduction in the cost of ADAS systems, due to technological advancements and economies of scale, is making these systems more accessible to a wider range of consumers.
- Consumer demand for advanced features: Consumer demand for advanced features such as lane keeping and adaptive cruise control is driving the growth of the ADAS market.
- Improved driver experience: The integration of ADAS systems with advanced telematics systems is improving the driver experience, which is driving the growth of the ADAS market.
Growth Hampering Factors in the Market for Advanced Driver Assistance Systems:
- Concerns about system reliability: Concerns about the reliability of ADAS systems, especially in extreme weather conditions, may slow down adoption and hinder market growth.
- Limited testing and certification standards: The lack of standardized testing and certification standards for ADAS systems may slow down adoption and hinder market growth.
- Limited infrastructure: The limited infrastructure for charging electric vehicles and for connected car communication systems may slow down adoption of ADAS systems.
- Legal and regulatory hurdles: The legal and regulatory hurdles related to the testing and deployment of autonomous vehicles, which require advanced ADAS systems, may hinder market growth.
- Limited availability of raw materials: The limited availability of raw materials, such as rare earth metals used in sensor technology, may limit the production and availability of ADAS systems, which could hinder market growth.
- Resistance to change: Resistance to change among consumers, especially among those who are used to traditional driving practices, may slow down adoption of ADAS systems and hinder market growth.
Check the detailed table of contents of the report @
https://ift.tt/PiYkLW6
Market Segmentation:
Type of System
- Lane Departure Warning
- Road Sign Recognition
- Cross Traffic Alert
- Intelligent Park Assistance
- Automatic Emergency Braking
- Adaptive Front Light
- Night Vision System
- Forward Collision Warning
- Adaptive Cruise Control
- Driver Monitoring System
- Blind Spot Detection System
- Tire Pressure Monitoring System
- Others
By Component Type
- Software
- Sensors
- LiDAR
- Infrared
- Ultrasonic
- Image Sensor
- RADAR
- Processor
- Others
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- LCV
- HCV
Advanced Driver Assistance Systems Market Overview by Region:
North America’s Advanced Driver Assistance Systems market share is the highest globally, with the United States leading the way in terms of adoption. The region is home to several prominent players in the market, such as General Motors, Ford, and Tesla. In addition, the increasing demand for electric and hybrid vehicles, combined with the presence of advanced sensor technologies and artificial intelligence, has contributed to the growth of the market.
The Asia-Pacific region’s Advanced Driver Assistance Systems Market share is also huge and is growing at the fastest rate, driven by factors such as increasing demand for connected cars, advancements in sensor technology, and government initiatives to promote road safety. Countries such as China, Japan, and South Korea are leading the way in terms of adoption of ADAS systems, with several major players such as Hyundai, Toyota, and Honda.
Europe is another key market for Advanced Driver Assistance Systems, with Germany leading the way in terms of adoption. The region has a strong automotive industry, which has been a major driver of growth in the market. Additionally, the region has been at the forefront of research and development of ADAS systems, with several leading players such as Bosch, Continental, and ZF Friedrichshafen AG.
The South American and MEA regions have a smaller Advanced Driver Assistance Systems market share, however it is expected to grow at a steady pace. The region is expected to be driven by factors such as increasing awareness about road safety and the need for enhanced driving experience.
Buy this premium research report –
https://ift.tt/lTmK9Xo
Advanced Driver Assistance Systems Market Key Players:
The Advanced Driver Assistance Systems (ADAS) Market is competitive, with several prominent players competing for market share. Some of the major players in the market include Aptiv PLC, Robert Bosch GmbH, Continental AG, Denso Corporation, Veoneer Inc., Hyundai Mobis Co., Ltd., ZF Friedrichshafen AG, NXP Semiconductors N.V., Texas Instruments Inc., Valeo SA, NVIDIA Corporation, Intel Corporation, Infineon Technologies AG, Panasonic Corporation, Harman International Industries, Inc., Magna International Inc., Panasonic Corporation, Mobileye, and TomTom International BV. These companies are focused on innovation and development of new technologies to enhance driving experience and improve road safety. They are also engaged in partnerships and collaborations to expand their reach and market share.
Browse More Research Topic on Automotive Industries Related Reports:
The Global Micromobility Market Size gathered USD 49.3 Billion in 2021 and is set to garner a market size of USD 186.2 Billion by 2030 growing at a CAGR of 16.2% from 2022 to 2030.
The Global EV Battery Swapping Market Size accounted for USD 134.1 Million in 2021 and is projected to occupy a market size of USD 1,123.9 Million by 2030 growing at a CAGR of 26.8% from 2022 to 2030.
The Global Cold Storage Market Size accounted for USD 115.6 Billion in 2021 and is estimated to achieve a market size of USD 323.6 Billion by 2030 growing at a CAGR of 12.5% from 2022 to 2030.
About Acumen Research and Consulting:
Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
For Latest Update Follow Us on Twitter , Instagram and LinkedIn
Contact Us:
Mr. Richard Johnson
Acumen Research and Consulting
USA: +13474743864
India: +918983225533
E-mail: sales@acumenresearchandconsulting.com
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. TheTechOutlook.com takes no editorial responsibility for the same.
The post Advanced Driver Assistance Systems Market Size Growing at 18.7% CAGR, Set to Reach USD 90.1 Billion By 2030 appeared first on The Tech Outlook.
from The Tech Outlook https://ift.tt/ui7kSZH
0 Comments