NEW YORK, June 22, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Advanced Driver Assistance Systems (ADAS) Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Sensor Type (Image Sensor, LiDAR, Radar Sensor, Ultrasonic Sensor, and Infrared Sensor), Technology Type (Adaptive Front Light, Blind Spot Detection, Electronic Brake Assist, Drowsiness-Monitoring System, Lane Departure Warning, Head-up Display, Night Vision System, Park Assist, E-Call Telematics, Tire Pressure-Monitoring System, and Others), and Vehicle Type (Passenger Car, LCV, and HCV)", the global Advanced Driver Assistance Systems (ADAS) market size is expected to grow from $43.13 billion in 2021 to $183.81 billion by 2028; it is estimated to grow at a CAGR of 25.4% from 2021 to 2028.
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Advanced Driver Assistance Systems (ADAS) Market Strategic Insights:
Report Coverage | Details |
Market Size Value in | US$ 43.13 Billion in 2021 |
Market Size Value by | US$ 183.81 Billion by 2028 |
Growth rate | CAGR of 25.4% from 2021 to 2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
No. of Pages | 207 |
No. Tables | 88 |
No. of Charts & Figures | 91 |
Historical data available | Yes |
Segments covered | Sensor Type, Technology Type, and Vehicle Type |
Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Advanced Driver Assistance Systems (ADAS) Market: Competitive Landscape and Key Developments
Continental AG; Cypress Semiconductor Corporation; First Sensor AG (TE Connectivity); Harman International (Samsung Group); Hitachi, Ltd.; MG Motor India Private Limited; NVIDIA Corporation; Robert Bosch GmbH; Telefonaktiebolaget LM Ericsson; and Vector Informatik GmbH are among the key players that are profiled during the Advanced Driver Assistance Systems (ADAS) market study. In addition to these players, several other essential Advanced Driver Assistance Systems (ADAS) market players were also studied and analyzed to get a holistic view of the global Advanced Driver Assistance Systems (ADAS) market and its ecosystem.
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In 2022, Infineon Technologies AG launched a new generation of its AURIX microcontroller family (MCU). It serves as a foundation for dependable electronics and software-based applications. It offers improvised security and comfort with more connectivity.
Advanced Driver Assistance Systems (ADAS) Market: Key Insights
The Advanced Driver Assistance Systems (ADAS) market growth driven by the growing demand for safety and driving comfort features, rising adoption of integrated radar and camera systems, growing demand for embedded vision systems in vehicles. The Asia Pacific dominated the market in 2021 with a share of 46.1%; it would continue to dominate the market during the forecast period and account for 50.2% share by 2028.
The most accurate technique for embedded vision to collect a visual representation of the world is through cameras. Autonomous vehicles include cameras on all four sides - front, back, left, and right. These photos are combined to provide a 360° perspective of their surroundings. Wide-angle lenses with a lesser range are available on certain cameras, while others have a narrower perspective capable of long-range views. Fish-eye cameras offer panoramic views and frequently assist vehicles with parking in the Advanced Driver Assistance Systems (ADAS) market. Vehicle manufacturers frequently utilize several CMOS imaging sensors to create photos with resolutions ranging from 1 to 2 megapixels; most use relatively affordable 2D cameras, but some also include 3D cameras in the Advanced Driver Assistance Systems (ADAS) market. To provide a good image in all situations, including bright sunshine, embedded vision systems require sensors with a large dynamic range of more than 130 dB in the Advanced Driver Assistance Systems (ADAS) market.
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In Europe, despite some challenges arising from the semiconductor shortage, projected to be resolved by the third quarter of 2022, the car industry's forecast for this year is positive. Automotive manufacturing is estimated to grow by ~13% in 2022. With the EU emphasizing making front-facing cameras and radar systems mandatory in all vehicles, as standard equipment, by 2024, the ADAS technology is projected to improve in Europe in 2022. For example, systems such as collision warning indications and electronic stability control are predicted to increase from 83% in 2021 to 100% by 2025. Similarly, restrictions on the automotive vehicle speed regulations will increase from 48% to 100% in the advanced driver assistance systems (ADAS) market over the same period.
On the other hand, Europe is likely to outperform all other regions in ADAS occurrence by 2025, owing to stronger legislation focusing on vehicle and passenger safety in the Advanced Driver Assistance Systems (ADAS) market. Although new car registrations in the EU and the UK decreased to 11.7 million in 2020, about 25% less than the previous year and the lowest level since 2001; however, electric car sales are growing in numerous European nations. EV sales in Europe continue to break records in 2021 for electric cars, including hybrids, plug-in hybrids, and full-electric vehicles, with a 63% rise to approximately 1.2 million units sold. This is 3.4 times the amount of EVs sold in 2019. EV market share surpassed 10% for the first time, at 10.2%, up from 6.2% in 2020 in the Advanced Driver Assistance Systems (ADAS) market.
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Rising Adoption of Integrated Radar and Camera Systems to Boost Advanced Driver Assistance Systems (ADAS) Market Growth:
The incorporation of different sensors into automobiles is fueled by the rise of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions. Radars, cameras, and ultrasonic sensors have become industry standards, responding to the need for road safety improvements. Light detection and ranging (LiDAR) technology has been included in the list and is being used in cars now on the assembly line. One of the most significant advantages of LiDAR is that the light source is a fully integrated component of the system in the Advanced Driver Assistance Systems (ADAS) market. LiDAR sensors generate light pulses that light up the required area using an eye-safe laser. They work independently of the surrounding illumination, unlike cameras. LiDAR can accomplish incredible results at any time of day or night, with no loss of performance owing to obstructing factors such as shadows, sunshine, or headlight glare, resulting in the Advanced Driver Assistance Systems (ADAS) market growth.
Advanced Driver Assistance Systems (ADAS) Market: Sector Overview
The Advanced Driver Assistance Systems (ADAS) market analysis based on technology type, is segmented into adaptive cruise control, blind spot detection, electronic brake assist, drowsiness-monitoring system, lane departure warning, head-up display, night vision system, park assist, e-call telematics, tire pressure monitoring system, and others. The blind spot detection segment led the Advanced Driver Assistance Systems (ADAS) market in 2021. The blind spot detection system aims to make changing lanes and merging safer. According to the National Highway Traffic Safety Administration report of March 2019, BSW Automotive is affected by half a million (8.7%) blind zone and lane change or merger-related crashes each year. Further, as per a report from the Insurance Institute for Highway Safety in September 2018, the blind spot detection technology is already reducing crash rates, resulting in 14% fewer lane-change crashes and 23% fewer lane change crash involvements with injuries in the Advanced Driver Assistance Systems (ADAS) market.
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