Global ADAS Market is expected to foresee significant growth. North America to lead the growth!
- Vikas Kumar
- January 13, 2023
- AUTOMOTIVE, NEWS
- ADAS, ADAS Market, ADAS Market analysis, ADAS Market forecast, ADAS Market growth, ADAS Market shape, ADAS Market share, ADAS Market size, ADAS Market trends, Asia ADAS Market, Europe ADAS Market, Middle east ADAS Market, US ADAS Market
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Advanced Driver Assistance System (ADAS) focuses on the reduction of road accidents and associated casualties by helping drivers avoid collisions altogether. These systems react faster than any human, are constantly vigilant, and are already being adopted and deployed across various car segments, from premium to economy models. ADAS systems constantly monitor the vehicle’s surroundings, alert the driver of hazardous road conditions, and take corrective actions, such as slowing or stopping the vehicle.
The growing trend for improved safety in passenger vehicles is expected to accelerate the market growth, coupled with an increasing number of road casualties. For instance, according to WHO, approx. 1.3 million people die due to road accidents.
The ADAS Market is expected to grow at a steady rate of around 16% owing to the growing need for road safety and increasing government regulations.
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On the basis of system type, the market is classified into adaptive cruise control adaptive front light, automatic emergency braking, blind spot detection, and others. The adaptive cruise control segment is expected to lead the market with a significant share during the forecast period. Adaptive cruise control systems lower the chances of collisions by controlling the speed of vehicles. Furthermore, it improves the driver’s comfort. Moreover, increased consumer preference towards luxury, and increased competition between OEMs to offer such driver assistance features.
Based on vehicle type, the market is categorized into passenger cars, light commercial vehicles, and medium & heavy-duty commercial vehicles. During the forecast period, the passenger car segment is expected to grow with a significant CAGR. This is mainly due to the growing demand for safety systems from developing countries. Furthermore, growing consumer technological literacy is also expected to drive the market.
For a better understanding of the market adoption of the ADAS industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The North American region is expected to lead the ADAS market with the largest market share and is expected to maintain its domination during the forecast period. The presence of key players in the region is expected to drive the market. Furthermore, the region has developed economies such as the United States and Canada, and citizens in these countries have higher disposable income which makes Adas more accessible for them. For instance, according to Y charts, the US’s personal per capita income for September 2022 is more the 45 thousand dollars.
For a detailed analysis of the Global ADAS Market browse through- https://univdatos.com/report/adas-market/
Some of the major players operating in the market include Aptiv Global Operations Limited, Robert Bosch GmbH, Continental AG, DENSO ADAS Engineering Services GmbH, HELLA GmbH & Co. KGaA, Microsoft Corporation, BYD Europe B.V., Changan Automobile Company Limited, SAIC Motor Corporation Limited, Qualcomm Technologies, Inc
Global ADAS Market Segmentation
Market Insight, by Vehicle Type
• Passenger Car
• Light Commercial Vehicle
• Medium & Heavy-Duty Commercial vehicle
Market Insight, by System Type
• Adaptive Cruise Control
• Adaptive Front Light
• Automatic Emergency Breaking
• Blind Spot Detection
• Others
Market Insight, by Sensor Type
• Image Sensing
• Lidar sensor
• Ultrasonic sensor
• Infrared sensor
• Radar sensor
• Laser
Market Insight, by Region
- North America
- US
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
• Aptiv Global Operations Limited
• Robert Bosch GmbH
• Continental AG
• DENSO ADAS Engineering Services GmbH
• HELLA GmbH & Co. KGaA
• Microsoft Corporation
• BYD Europe B.V.
• Changan Automobile Company Limited
• SAIC Motor Corporation Limited
• Qualcomm Technologies, Inc
