Stratview Research has published a new report on the Automotive Advanced Driver Assistance Systems Market, segmented by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium & Heavy Duty Commercial Vehicle), by Technology Type (Adaptive Cruise Control, Adaptive Front Light, Blind Spot Detection, Emergency Brake Assist, Drowsiness-Monitoring System, Lane Departure Warning, Head-up Display, Night Vision System, Park Assist, E-Call Telematics, Tire Pressure-Monitoring System, and Others ADAS), by Sensor Type (Radar, Image, LIDAR, Infrared, and Ultrasonic), and by Region (North America, Europe, Asia-Pacific, and Rest of the World). This report provides critical insights into the market dynamics and enables strategic decision-making for the existing and new market players
Market Highlights
The automotive advanced driver assistance systems market is projected to experience an excellent double-digit CAGR of >10% over the next five years to reach US$ 30.1 billion in 2025, driven by rising consumers’ preferences for safety features, advancements in technology, the introduction of more stringent norms, and organic growth in the global automobile production. Additionally, increasing demand for premium and luxury cars is also propelling the growth of advanced driver assistance systems in the automotive industry. Some companies have started to deploy these systems from in mid-range cars as well to fulfill consumers’ safety preferences.
Covid Impact
Covid-19 has impacted the market dynamics, competition, and global supply chain of every possible market one can think of. The revenues for many, have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operations and strategy will sustain and beat the competition.
Segmentation –
This report studies the Automotive Advanced Driver Assistance Systems Market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:
The automotive ADAS market is segmented based on the following vehicle types: Passenger Cars, Light Commercial Vehicles, and Medium & Heavy-Duty Commercial Vehicles. Passenger car is expected to remain the largest vehicle type in the automotive ADAS market over the next five years, driven by increasing penetration of ADAS in the segment. The vehicle type is experiencing an expansion in usage of ADAS from luxury cars to mid-range cars. The vehicle type is also projected to witness the fastest growth during the forecast period, owing to rising demand for ADAS across regions.
Radar is expected to remain the most dominant sensor type in the automotive ADAS market during the forecast period. Radar sensors are used in a wide array of systems, such as adaptive cruise control systems and emergency brake assists. It is also anticipated to be the fastest-growing sensor type in the same period. Ultrasonic and image sensors are also projected to experience a healthy growth rate in the same period.
The automotive advanced driver assistance systems market is segmented based on the following technology types: Adaptive Cruise Control, Adaptive Front Light, Blind Spot Detection, Electronic Brake Assist, Drowsiness-Monitoring System, Lane Departure Warning, Head-up Display, Night Vision System, Park Assist, E-Call Telematics, Tire Pressure-Monitoring System, and Others ADAS. All these technologies are expected to grow at a healthy pace during the forecast period. Tire monitoring system will continue to occupy a large market share in the North America and Europe region because of mandated regulation by the US and European (countries’) governments. Adaptive cruise control system is expected to remain dominant in the North America region. Asia- Pacific is estimated to be the fastest growing region for blind spot detection, emergency brake assist, head-up display, and park assist systems, mainly because of high congestion in traffic and rising purchasing power in developing countries.
In terms of region, North America is estimated to remain the leading global automotive ADAS market during the forecast period. Increasing demand for high safety features, mandate of some of the key ADAS system installations in the vehicles such as tire pressure monitoring system, and organic growth in automotive production are the major growth drivers of the region over the next five years. Asia-Pacific is expected to grow at a higher rate during the forecast period because of increased automobile production, especially in China and India and increasing penetration of ADAS in the major Asia-Pacific markets, such as China, Japan, and India. Middle East and Latin America are also estimated to experience a healthy growth in the same period.
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