Advanced Driver Assistance Systems (ADAS) Market is projected to grow at a CAGR of 21.9% from USD 24.05 billion in 2019 to USD 118.03 billion in 2027.
NEW YORK, NY, UNITED STATE, November 6, 2021 /EINPresswire.com/ — The Global Advanced Driver Assistance Systems (ADAS) Market is projected to reach USD 118.03 billion in 2027. The continual development in the vehicle autonomy and automotive electronics sensor system applications & technology, the rising concern for passenger safety while in the vehicle, increasing demand for higher degree of automation in automobiles, higher demand for the nextgen concept cars from the high-earning consumers and increasing use of sensor systems in hybrid, semi hybrid & electric cars are the factors effectively boosting the demand of the Advanced Driver Assistance Systems (ADAS) market.
Usage of the sensor systems has been enormous in all the segments of automotive. Advanced sensory or the driver assistance systems are being incorporated in almost all the parts of a vehicle. Chassis, clutch, engines, transmission, brakes, control, dashboard and safety systems are some of the constituents where a high number of ADAS equipment are being installed. Apart from monitoring the speed, pressure, position, gas, outer ambience, and temperature inside the engine, the ADAS equipment are used for safe & efficient operations of the powertrains.
The surging demand for autonomous vehicles has created plenty of opportunities for leading automakers like Tesla, Toyota, Honda, and others. These industry players are implementing the ADAS in their fully autonomous and semi-autonomous vehicles at large. The continuous development and implementation of ADAS as a key safety feature and extensive investment in R&D are poised to reinforce Advanced Driver Assistance System market trends through 2027.
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Further key findings from the report suggest
On the basis of component, the hardware segment is estimated to occupy the majority of the Advanced Driver Assistance Systems market share over the forecast period. However, the software segment will exhibit growth through 2027 due to rapid technological development.
On the basis of vehicle, the passenger vehicle segment is estimated to hold a major chunk of the ADAS market share through 2027 on account of reforms related to the scrapping of conventionally powered vehicles and the rapid proliferation of electric cars. In 2019, the passenger vehicle segment was cumulative to a revenue generation of nearly USD 5.13 Billion in the European region.
In the regional landscape, North America is forecast to hold the largest market share over the forecast period on account of mounting demand for safe and efficient vehicles in the region.
Europe is estimated to contribute significantly to the Advanced Driver Assistance Systems market revenue share through 2027. The robust growth can be attributed to the rise in favorable government initiatives in the region related to driver and passenger safety.
The Asia Pacific region is anticipated to witness major growth over the analysis period due to the rising number of vehicles and increased demand for premium vehicles in China and India.
In January 2020, TTTech Auto, a global leader in the safety software platforms for autonomous driving (AD) and beyond, announced its acquisition of the Turkish software company Red Pine Software, an expert in ADAS. By this acquisition TTTech Auto created its firm growth strategy and increased its software development capacities for ADAS and Automated Driving series development projects that features its flagship product MotionWise.
Key players in the market include Robert Bosch, Valeo S.A., Hyundai Mobis, Visteon, Faurecia, Samsung, Intel, Mobileye, Waymo, Microsoft, Magna International, Denso, Veoneer, Continental AG, ZF Friedrichshafen, Aptiv, and Atmel Corporation, among others.
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For the purpose of this study, Reports and Data have segmented the Advanced Driver Assistance Systems (ADAS) Market on the basis of System, Component, Type, Vehicle, Propulsion, and Region:
System Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)
Adaptive Cruise Control
Adaptive Front Light
Automatic Emergency Braking
Blind Spot Detection
Cross Traffic Alert
Driver Monitoring System
Forward Collision Warning
Intelligent Park Assistance
Lane Departure Assistance
Night Vision System
Pedestrian Detection System
Road Sign Recognition
Traffic Jam Assist
Component Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)
Type Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)
Vehicle Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)
Light Commercial Vehicle (LCV)
Heavy Commercial Vehicle (HCV)
Propulsion Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)
Battery Electric Vehicle
Fuel Cell Electric Vehicle
Hybrid Electric Vehicle
Plug-in Hybrid Electric Vehicle
Regional Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)
Rest of Europe
Rest of APAC
Rest of MEA
Rest of LATAM
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Advanced Driver Assistance Systems (ADAS) Market Segmentation & Impact Analysis
4.1. Advanced Driver Assistance Systems (ADAS) Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
22.214.171.124. Government regulations related to safety of the vehicle
126.96.36.199. Increasing demand for safe and efficient vehicles
188.8.131.52. Rising demand for luxury or premium cars
4.2.3. Market restraints analysis
184.108.40.206. Unavailability of needed infrastructure
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence…
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