Summary
The global advanced driver assistance systems market size reached US$ 23.3 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 42.7 Billion by 2027, exhibiting a growth rate (CAGR) of 11.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Advanced driver assistance (ADAS) is an electronic system designed to cater safety, efficiency and comfort to the driver. It helps reduce road accidents and traffic congestion and enhances the security of occupants, vehicles and pedestrians. It is equipped with cameras, sensors, radars and related software to facilitate the efficient functioning of the systems. Moreover, it relies on artificial intelligence (AI), autonomous emergency braking, park assistant, blind-spot detection, lane warning departure system and adaptive cruise control.
The rising global population, inflating income levels and the growing automotive sector are among the key factors positively influencing the sales of ADAS systems across the globe. Moreover, these systems assist in automating and improving the vehicles for a better and safe driving experience, which is strengthening the market growth. Apart from this, the rising number of vehicles on roads has increased traffic congestions and instances of accidents worldwide. As a result, governments of various countries are imposing stringent regulations to enhance the safety of vehicles and prevent road accidents. For instance, the National Highway Traffic Safety Administration (NHTSA) in the United States has undertaken numerous initiatives to promote the use of automated vehicles and ADAS systems to reduce road fatalities. The market is anticipated to witness growth in the coming years on account of the increasing inclination of individuals towards improved safety and security features, comfort and luxury in vehicles.
Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global advanced driver assistance systems market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on solution type, component type and vehicle type.
Breakup by Solution Type:
Adaptive Cruise Control
Blind Spot Detection System
Park Assistance
Lane Departure Warning System
Tire Pressure Monitoring System
Autonomous Emergency Braking
Adaptive Front Lights
Others
Breakup by Component Type:
Processor
Sensors
Radar
Ultrasonic
LiDAR
Others
Software
Others
Breakup by Vehicle Type:
Passenger Cars
Commercial Vehicles
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Autoliv Inc., Continental AG, Denso Corporation, Hyundai Mobis Co. Ltd (Hyundai Motor Group), Magna International Inc., Mobileye (Intel Corporation), Robert Bosch GmbH, Texas Instruments Incorporated, Valeo and ZF Friedrichshafen AG.
Key Questions Answered in This Report
1. What is the expected growth rate of the global advanced driver assistance systems market during 2022-2027?
2. What are the key factors driving the global advanced driver assistance systems market?
3. What has been the impact of COVID-19 on the global advanced driver assistance systems market?
4. What is the breakup of the global advanced driver assistance systems market based on the component type?
5. What is the breakup of the global advanced driver assistance systems market based on the vehicle type?
6. What are the key regions in the global advanced driver assistance systems market?
7. Who are the key players/companies in the global advanced driver assistance systems market?
