Advanced Driver Assistance System Market is estimated to grow with a CAGR of 11.50% during the forecast period
Advanced Driver Assistance System Market size was valued at USD 26.65 billion in 2020 and is expected to grow to USD 79.27 in 2030 at a compound annual growth rate (CAGR) of 11.5%. Advanced driver assistance systems (ADAS) are a collection of electronic technologies that help drivers with driving and parking. ADAS improves automotive and road safety by providing a safe human-machine interface. ADAS use automated technologies such vehicle sensors and cameras to identify surrounding impediments and driver faults and respond appropriately. Because the majority of traffic incidents are caused by human error, ADAS are designed to automate, adapt, and improve vehicle technology for greater safety and driving. By reducing human error, ADAS has been shown to reduce road deaths. Safety features are intended to prevent accidents and crashes by providing technologies that notify the driver to potential hazards, as well as applying other measures.
The report "Global Advanced Driver Assistance System Market, By Solution (Adaptive Cruise Control, Blind Spot Detection System, Park assistance, Lane Departure Warning System, Tire Pressure Monitoring System, Autonomous Emergency Braking, Adaptive Front Lights, and Others), By Sensor Type (Radar, Ultrasonic, LiDAR, and Others), By Vehicle Type (Passenger car and Commercial vehicle), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Trends, Analysis and Forecast till 2030’’
Key Highlights:
· Veoneer was chosen to deliver active safety solutions based on next-generation vision and radar technologies in February 2020. Veoneers' scalable system was designed to meet Euro NCAP's 5-star safety rating while also providing a variety of driver assistance features such as highway assist, lane centering control, stop and go adaptive cruise control, automatic emergency braking, traffic sign recognition, and automated high beam control.
· Continental announced a new ADAS production unit in Texas, USA, in February 2020, with a USD 109 million investment over the following three years. Radars will be manufactured at the new plant starting in 2021.
Analyst View:
The ADAS market will benefit from increased awareness of car safety ratings and lower component prices due to the widespread use of cameras and radars. ADAS systems are being used by major automakers in order to attain improved safety ratings and attract more customers. As a result, top automakers either standardise safety systems across models or offer them as options. As a result, throughout the forecast period, demand for components such as cameras, radar sensors, ultrasonic sensors, and LiDAR would increase due to the rising penetration of ADAS features.
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Key Market Insights from the report:
The Global Advanced Driver Assistance System Market size was valued at USD 26.65 billion in 2020 and is expected to grow to USD 79.27 in 2030 at a compound annual growth rate (CAGR) of 11.5%. The global advanced drive assistance system market is segmented into solution, sensor types, vehicle types, and region.
· Based on Solution, Global Advanced Driver Assistance System Market is segmented into Adaptive Cruise Control, Blind Spot Detection System, Park assistance, Lane Departure Warning System, Tire Pressure Monitoring System, Autonomous Emergency Braking, Adaptive Front Lights, and Others.
· Based on Sensor Types, Global Advanced Driver Assistance System Market is segmented into Radar, Ultrasonic, LiDAR, and Others.
· Based on Vehicle Types, Global Advanced Driver Assistance System Market is segmented into Passenger car and Commercial vehicle.
· By Region, the Global Advanced Driver Assistance System Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Advanced Driver Assistance System Market:
Key players in the global advanced driver assistance market are Continental AG, Delphi Automotive Plc, Magna International, Denso Corporation, Robert Bosch GMBH, Autoliv Inc., Takata Corporation, Hyundai Mobis, Gentex Corporation, and HARMAN International.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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