CHICAGO, March 27, 2024 /PRNewswire/ -- ADAS market size is projected to grow from 334 Million Units in 2024 to 655 Million Units by 2030, at a CAGR of 11.9%, according to a new report by MarketsandMarkets. The increasing demand for electric and autonomous vehicles is expected to increase the demand for ADAS. Additionally, continuous innovation in connected car features will boost the demand for ADAS.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1201
Browse in-depth TOC on "ADAS Market".
100 - Tables
100 - Figures
400 - Pages
ADAS Market Scope:
Report Coverage | Details |
Market Size | 655 Million Units |
Growth Rate | CAGR of 11.9% |
Largest Market | Asia Pacific |
Market Dynamics | Drivers, Restraints, Opportunities & Challenges |
Forecast Period | 2024-2030 |
Forecast Units | Value (Units) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Offering (Hardware (Camera, Radar, LiDAR, Ultrasonic, ECU), Software (Middleware, Application Software & OS)), System Type, Vehicle Type (PC, LCV, HCV), Level of Autonomy, Vehicle Class, EV type and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Advancements in autonomous vehicle technology |
Key Market Drivers | Increased focus on vehicle safety |
BEV segment is expected to have the largest share in the global ADAS market
The BEV is expected to grow the largest in terms of volume. Owing to the governments of India, China, the United States, and European nations provide subsidies for electric infrastructure, consequently fostering expansion within the Battery Electric Vehicles (BEVs) segment. OEMs respond by introducing new electric iterations of existing Internal Combustion Engine (ICE) models. Furthermore, heightened competition from prominent Electric Vehicle (EV) manufacturers like Tesla prompts traditional OEMs to strategize incorporating additional safety and driving assistance features to maintain competitiveness. Prominent automakers such as BMW, BYD, Tesla, Mercedes Benz, and Audi increasingly focus on eco-friendly vehicles equipped with enhanced driving comfort features. For instance, in September 2023, BYD expanded its sales in Southeast Asia through partnerships with regional distributors. As a result, the anticipated increase in demand for ADAS solutions within the electric vehicle segment is projected for the forecast period.
The application Software segment is estimated to exhibit the fastest growth in the global ADAS market.
Application software is expected to have significant growth opportunities in the automotive software market during the forecast period. This is attributed to the increasing sales of ADAS-equipped vehicles and the rising demand for connected technologies. Enterprises such as Honda Motor Co., Ltd. (Japan), Toyota Motor Corporation (Japan), Mahindra & Mahindra Limited (India), BYD (China), and MG Motor (UK), among others, provide Advanced Driver Assistance Systems (ADAS) functionalities. These functionalities encompass adaptive cruise control, lane-keeping assist, lane departure warning, automatic emergency braking, traffic sign recognition, blind-spot detection, and rear collision warning. The effective operation of these features mandates that application software be capable of functioning efficiently within a real-time environment. In India, automotive Original Equipment Manufacturers (OEMs) such as Mahindra & Mahindra Limited and Morris Garages offer Advanced Driver Assistance Systems (ADAS) functionalities. These include adaptive cruise control with stop-and-go functionality, lane-keep assist, and traffic sign recognition.
Similarly, in October 2023, Hyundai Motor Company announced the standardization of six airbags across all its models. Additionally, the company is poised to integrate ADAS as a standard feature across all models by 2025. It is anticipated that 60% of all Hyundai vehicles sold in India will incorporate ADAS features by 2024.
US to lead the ADAS market in North America.
The US is predicted to lead the North American ADAS industry due to the high demand for feature-rich passenger cars and pickup trucks, and it is a mature market for modern technology compared to Canada and Mexico. ADAS features include lane departure warning, forward collision warning, automatic emergency braking, adaptive cruise control, and blind-spot monitoring. Some vehicles also have advanced features like automatic park assist and traffic sign recognition. These technologies can help improve road safety by reducing the risk of accidents caused by human error. For instance, in December 2023, Black Sesame Technologies (US) and BlackBerry (US) partnered with ECARX (China) for ADAS technology by integrating advanced AI algorithms, sensor fusion, and cybersecurity features into the Skyland platform. Additionally, the increase in sales and demand for autonomous driving and cruise control of luxury vehicles will positively impact the demand for ADAS in North America. The region's large customer base and high disposable income have fueled the premium passenger car market.
Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=1201
Key Market Players:
The major players in ADAS Companies include Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen (Germany), Denso (Japan), and Magna International (Canada), among others.
Recent Developments
- In February 2024, ZF Friedrichshafen AG launched ZF Aftermarket OnLaneALERT, a new front camera module for LDW in commercial vehicles.
- In February 2024, Robert Bosch GmbH announced that it is teaming up with Microsoft to develop and research generative AI and how to integrate it within vehicle features such as automated driving.
- In February 2024, Continental AG revealed its new 8MP automotive camera. The satellite camera will help automakers with features like autonomous driving platform, parking assist, 3D surround view, and more.
- In December 2023, Robert Bosch GmbH announced that it would showcase a new vehicle computer called Cockpit & ADAS integration platform. The foundation of this new computer is a single SoC that executes a number of operations from the infotainment and driver assistance domains simultaneously. This features autonomous parking, lane detection, smart, tailored navigation, and voice assistance. Advantages for car makers include reduced space and required cabling, resulting in cheaper costs.
- In December 2023, Telechips, a semiconductor manufacturer from South Korea, announced that Continental AG has supplied its Dolphin System on Chip (SoC) family. The SoC is tailored to the pre-integrated function set of Continental's Smart Cockpit High-Performance Computers (HPCs), providing optimal system performance for cluster, infotainment, and ADAS.
- In October 2023, Denso Corporation announced that it would collaborate with KOITO MANUFACTURING CO., LTD. (Japan) to develop a system to improve the object recognition rate of vehicle image sensors at night. The solution is expected to work with coordinating lamps and image sensors, which will improve driving safety during nighttime.
- In June 2023, Continental AG presented a high-performance computer (HPC) that provides optimal system performance for a pre-integrated set of automobile operations. The Smart Cockpit HPC integrates a variety of domains and services, including cluster, infotainment (display, radio, phone, phone mirroring, and navigation), and Advanced Driver-Assistance Systems (ADAS).
- In May 2023, Robert Bosch GmbH announced that it would collaborate with Plus to develop an assisted driving solution for commercial vehicles.
- In March 2023, Robert Bosch GmbH advanced driver assistance system controller combines radar, video, lidar, ultrasound, and complex algorithms for precise 360° environment modeling, ensuring safe vehicle behavior even at high speeds.
- In January 2023, ZF Friedrichshafen AG launched Smart Camera 6 for ADAS systems and automated driving. Smart Camera 6 has a 120-degree field of view, more than 4x higher picture resolution (8 megapixels) than the previous model, and more processing power to support sophisticated features such as AEB, Automated parking, and more.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=1201
Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting
Related Reports:
Automotive Safety System Market - Global Forecast to 2025
Automotive LiDAR Market - Global Forecast to 2030
Automotive Engineering Services Market - Global Forecast to 2028
Semi-Autonomous & Autonomous Bus Market - Global Forecast to 2030
About MarketsandMarkets:
MarketsandMarkets has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/driver-assistance-systems-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/driver-assistance-systems.asp
Logo: https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/adas-market-worth-655-million-units-by-2030---exclusive-report-by-marketsandmarkets-302100813.html
