ADAS Market: Current Analysis and Forecast (2022-2028)

Report Description

Global ADAS Market is expected to grow at a significant rate of around 16% during the forecast period. Advanced driver assistance systems (ADAS) focus on reducing traffic accidents and related casualties by enabling drivers to avoid collisions entirely. Reacting faster than humans, these systems are always on the alert and are being deployed in a variety of vehicle segments, from premium to economy models. The ADAS system constantly monitors the vehicle’s surroundings, warns the driver of dangerous road conditions and takes corrective actions such as: B. Decelerate or stop the vehicle.

The increasing trend of increasing passenger vehicle safety coupled with increasing number of traffic accident fatalities is expected to fuel the market growth. For instance, according to WHO, approx. 1.3 million people die due to road accidents.

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. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst vehicle type, passenger cars category to witness robust CAGR during the forecast period”

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.

 “Amongst system type, the adaptive to hold a significant share in the market in 2020”

On the bases 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.

“North America to hold a significant share in the market”

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.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global ADAS Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the ADAS Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global ADAS market were the three major steps undertaken to create and analyze the adoption of ADAS in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global ADAS Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the ADAS market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the ADAS market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as vehicle type, system type, and sensor type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the ADAS Market. Further, we conducted factor analysis using dependent and independent variables such as various vehicle type, system type, and sensor type of ADAS. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the ADAS market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global ADAS market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the ADAS market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global ADAS market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global ADAS market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of vehicle type, system type, and sensor type in the global ADAS market.

The main objective of the Global ADAS Market Study

The current & future market trends of the global ADAS market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the ADAS market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of vehicle type, system type, and sensor type.
• Define and analysis of the regulatory framework for the ADAS
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the ADAS market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the ADAS market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
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