NEW YORK, July 24, 2024 /PRNewswire/ -- The
global automotive advanced driver assistance system (ADAS)
market size is estimated to grow by USD
33.67 billion from 2024-2028, according to Technavio. The
market is estimated to grow at a CAGR of 10.87% during the forecast
period. Decline in sensor prices is driving market growth, with a
trend towards growing development of ai-enabled ADAS
solutions. However, high costs associated with service and
maintenance of adas poses a challenge. Key market players include
AISIN CORP., Aptiv Plc, Autoliv Inc., BorgWarner Inc., Continental
AG, DENSO Corp., Gentex Corp., Harman International Industries
Inc., HELLA GmbH and Co. KGaA, Hyundai Motor Co., Infineon
Technologies AG, Intel Corp., Magna International Inc., NXP
Semiconductors NV, Panasonic Holdings Corp., Renesas Electronics
Corp., Robert Bosch GmbH, Valeo SA, Veoneer Inc., and ZF
Friedrichshafen AG.
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the
snapshot of this report
Automotive Advanced
Driver Assistance System (ADAS) Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
10.87%
|
Market growth
2024-2028
|
USD 33678.5
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
9.53
|
Regional
analysis
|
Europe, North America,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 40%
|
Key
countries
|
US, Germany, China,
Japan, and France
|
Key companies
profiled
|
AISIN CORP., Aptiv Plc,
Autoliv Inc., BorgWarner Inc., Continental AG, DENSO Corp., Gentex
Corp., Harman International Industries Inc., HELLA GmbH and Co.
KGaA, Hyundai Motor Co., Infineon Technologies AG, Intel Corp.,
Magna International Inc., NXP Semiconductors NV, Panasonic Holdings
Corp., Renesas Electronics Corp., Robert Bosch GmbH, Valeo SA,
Veoneer Inc., and ZF Friedrichshafen AG
|
Market Driver
Automotive companies are prioritizing customer needs and
personalized solutions in a connected environment. Artificial
Intelligence (AI) technology is increasingly used in Advanced
Driver Assistance Systems (ADAS) due to its ability to mimic human
brain functions. AI-based ADAS continuously learns and enhances
object detection and recognition. NVIDIA DRIVE AutoPilot, for
instance, has AI capabilities that significantly improve object
detection. Major ADAS manufacturers like ZF Friedrichshafen and
Continental have started producing AI-based ADAS solutions based on
NVIDIA DRIVE AutoPilot. The demand for effective active safety and
reliable driving systems will drive the growth of the global
automotive ADAS market. AI-enabled ADAS solutions are expected to
gain significant traction due to their power efficiency and reduced
development time. This trend will continue to shape the market
during the forecast period.
The Automotive Advanced Driver Assistance System (ADAS) market
is experiencing significant growth as software companies and
service providers team up with ride-sharing operators, luxury
vehicle manufacturers, and automakers to integrate advanced safety
features. Night vision systems, drowsiness monitoring, and sensor
technology are key trends in this sector. With the rise of vehicle
electrification and automation, processors, software, and sensors
are in high demand. Passenger cars and commercial vehicles are
adopting these systems to meet safety standards and regulations,
such as Vision Zero, which aims for road safety with zero
fatalities and injuries. Lane departure warning, self-driving
vehicles, and collision avoidance systems are becoming standard
features. Continental, Seeing Machines, Analog Devices, and other
industry leaders are developing AI-oriented automotive solutions
using infrared cameras and DMS/OMS systems. Road safety is a top
priority, with proactive measures including anti-lock braking
systems, electronic stability control, and adaptive cruise
control.
Discover 360° analysis of this market. For
complete information, schedule your consultation - Book
Here!
Market Challenges
- The Automotive Advanced Driver Assistance System (ADAS) market
growth is being hindered by several factors. One major challenge is
the high cost of maintenance and repair for vehicles equipped with
ADAS. These systems, which include features like Adaptive Cruise
Control (ACC), Blind Spot Detection (BSD), and Automatic Emergency
Braking System (AEBS), use sophisticated technology like radar
sensors. The repair costs for these sensors are significantly high,
with radar sensors for AEBS and ACC costing above USD900, and rear radar sensors for BSD and rear
cross-traffic alert costing about USD2,000. This high repair cost is a significant
barrier to ADAS adoption, particularly in emerging economies where
customers are price-sensitive. Another challenge is the shortage of
skilled technicians required to calibrate and repair ADAS
technology. This shortage is particularly acute in prominent
economies, such as the US, where the automotive industry is
projected to need around 46,000 skilled automotive technicians by
2026. The global automotive industry is already facing a shortage
of skilled technicians, leading to rising repair and maintenance
costs. This shortage is expected to continue, posing a significant
challenge to the growth of the automotive ADAS market during the
forecast period.
- The Automotive Advanced Driver Assistance System (ADAS) market
is experiencing significant growth due to the increasing demand for
safety features in electric and autonomous vehicles. Road safety
remains a top priority, with a focus on reducing accidents and
injuries. Automakers are responding with proactive measures such as
anti-lock braking systems, electronic stability control, collision
avoidance systems, adaptive cruise control, and crash test ratings.
However, challenges remain, including the need for standardized
infrastructure in rural and less-developed areas, and the
integration of technologies like Automotive Ethernet,
high-definition cameras, and sensors (radar, LIDAR, ultrasonic,
image, infrared) with human-machine interfaces. Regulations
continue to evolve, with a focus on safety standards and
infrastructure improvements. General Motors, microcontroller units,
electronic control units, and controllers are key players in this
market. Premium vehicles often include advanced ADAS systems, such
as vehicle radar, sensing systems, control modules, power
electronics, and human-machine interfaces for vehicle speed and
engine fuel supply. E-Hailing service providers are also investing
in ADAS to enhance safety and improve the customer experience.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This automotive advanced driver assistance system (adas) market
report extensively covers market segmentation by
- Application
- 1.1 Passenger cars
- 1.2 Commercial vehicles
- Technology
- 2.1 AEBS
- 2.2 TPMS
- 2.3 PAS
- 2.4 LDWS and others
- Geography
- 3.1 Europe
- 3.2 North America
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Passenger cars- The passenger cars segment is
the largest adopter of Advanced Driver Assistance Systems (ADAS) in
the automotive industry, driven by automotive Original Equipment
Manufacturers (OEMs) seeking to enhance vehicle safety ratings and
differentiate their products. Developed regions, including
North America and Europe, lead the adoption due to stringent
safety regulations, such as the US National Highway Traffic Safety
Administration's (NHTSA) 5-Star Safety Ratings program, which
emphasizes ADAS technologies like Automatic Emergency Braking
Systems (AEBS), Forward Collision Warning Systems (FCWS), Lane
Departure Warning Systems (LDWS), Tire Pressure Monitoring Systems
(TPMS), and rear-view video systems. Key players, such as Daimler
AG (Daimler), BMW AG (BMW), and Volkswagen AG (Volkswagen), are
pioneering the adoption of emerging ADAS technologies in
mass-market passenger cars, fueling market growth. Luxury car
manufacturers also innovate advanced ADAS functionalities to
differentiate their offerings, collaborating to develop automated
technologies, further driving the passenger cars segment's growth
in the global automotive ADAS market.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Automotive ADAS Aftermarket is experiencing robust
growth, driven by increasing demand for advanced safety features
and technological advancements. Concurrently, the global Automotive
Advanced Driver Assistance System (ADAS) Sensors Market is also on
the rise, with a focus on enhancing vehicle safety and automation.
This market is expected to grow significantly, driven by
innovations in sensor technology and rising consumer awareness
about vehicle safety. Both markets reflect a growing emphasis on
advanced automotive technologies.
Research Analysis
The Automotive Advanced Driver Assistance System (ADAS) market
is experiencing significant growth due to the increasing demand for
road safety and the integration of electric vehicles (EVs) and
autonomous vehicles (AVs) into the automotive industry. ADAS
technologies, including night vision systems, sensor and processor
technologies, and AI-oriented automotive, are designed to enhance
safety features in vehicles, reduce accidents, injuries, and road
traffic fatalities. These proactive measures are particularly
important for luxury vehicles and battery electric vehicles (BEVs),
which may have unique safety challenges. The market for ADAS is
driven by safety standards and consumer demand for increased
vehicle automation and electrification. Companies such as
Continental, Seeing Machines, and Analog Devices are leading the
way in the development of innovative ADAS technologies, including
infrared cameras and AI-based systems, to create self-driving
vehicles that prioritize safety and performance.
Market Research Overview
The Automotive Advanced Driver Assistance System (ADAS) market
is witnessing significant growth due to the increasing focus on
road safety and reducing accidents. Electric vehicles and
autonomous vehicles are driving the demand for advanced safety
features, including anti-lock braking systems, electronic stability
control, collision avoidance systems, adaptive cruise control, and
lane departure warning. Automakers are integrating these safety
systems into premium and luxury vehicles to meet safety standards
and regulations. Road infrastructure plays a crucial role in the
effective implementation of ADAS, with standardized infrastructure
and cloud data essential for proactive measures. In rural and
less-developed areas, high-definition cameras, Automotive Ethernet,
and e-hailing service providers are key. Sensors, including radar,
LIDAR, ultrasonic, image, and infrasound, are integral to ADAS,
along with microcontroller units, electronic control units, and
human-machine interfaces. Vehicle speed, engine fuel supply, and
vehicle radar sensing systems are controlled by controllers, power
electronics, and software companies. Vision Zero, a road safety
initiative, is a key focus area for ride-sharing operators and
luxury vehicle manufacturers. Night vision systems, drowsiness
monitoring systems, vehicle electrification, and vehicle automation
are also gaining popularity in the market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Passenger Cars
- Commercial Vehicles
- Technology
-
- AEBS
- TPMS
- PAS
- LDWS And Others
- Geography
-
- Europe
- North America
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/automotive-advanced-driver-assistance-system-adas-market-size-is-set-to-grow-by-usd-33-67-billion-from-2024-2028--decline-in-sensor-prices-boost-the-market-technavio-302204028.html
SOURCE Technavio