Introduction
The Global Automotive Driver Assistance Systems Market is estimated to be USD 31.4 Bn in 2023 and is expected to reach USD 50.11 Bn by 2028, growing at a CAGR of 9.80%.
Segment Analysis
The Global Automotive Driver Assistance Systems Market is segmented based on Component, Level of Autonomy, System Type, Electric Vehicle Type, and Vehicle Class.
In the ADAS (Automotive Driver Assistance Systems) Market, the component segment forms a vital ecosystem incorporating sensors, cameras, and software solutions that seamlessly equip vehicles with advanced safety and convenience features. These components play a pivotal role in perceiving the vehicle’s surroundings by detecting obstacles, pedestrians, and traffic conditions. Subsequently, the gathered data undergoes processing through software, enabling the execution of functions such as adaptive cruise control, lane-keeping assistance, and collision avoidance. This synergy between hardware and software constitutes the essential foundation of ADAS, delivering heightened road safety and driving comfort to vehicle occupants while contributing to the ongoing evolution of intelligent and autonomous driving capabilities.
Within the Automotive Driver Assistance Systems (ADAS) Market, various system types encompass functionalities designed to enhance driver safety and overall driving experiences. These systems include adaptive cruise control, managing safe following distances; lane-keeping assistance, preventing unintentional lane departure; parking assistance, facilitating effortless parking maneuvers; and collision avoidance systems engineered to mitigate or avert accidents. Additionally, features like blind-spot monitoring and traffic sign recognition contribute to safer and more convenient driving. This comprehensive ADAS system ensures that drivers have access to various tools and technologies aimed at enhancing road safety and driving convenience.
Regional Analysis
The United States is the largest economy in the Advanced Driver Assistance System Market in the Americas.
The United States is heavily investing and adopting an Advanced driver-assistance system, especially since their prominent focus now is on Buses. On June 8, 2023, FTA announced USD 11.6 Mn in six projects for research in automation technologies. It will help enhance safety and efficiency in bus service and yard operations. A company like Polestar has already announced that the Polestar 4 electric SUV coupe will become the first production car to feature Mobileeye’s Chauffer eye-off, hands-off autonomous driving technology.
Continental and Aurora partnered to industrialize the first commercially scalable autonomous trucking systems.
In APAC, India and China is the fastest-growing economy in the Advanced Driver Assistance System Market
India and China are aggressively adopting Advanced Driver Assistance Systems and integrating them into various industry applications for several reasons. First, both countries face severe air quality and environmental challenges due to their heavy reliance on fossil fuels. Embracing Advanced driver-assistance systems ADASs helps them mitigate pollution and reduce greenhouse gas emissions, aligning with their climate commitments.
Second, their rapidly growing economies require substantial energy resources. Advanced driver-assistance systems provide a sustainable and increasingly cost-effective solution to meet this energy demand. It is also enhancing energy security by diversifying their energy mix. Third, both nations have abundant Advanced driver-assistance system ADAS resources, such as solar and wind potential. It helps in making these sources environmentally friendly and economically viable.
Additionally, the push for technological innovation and job creation drives the adoption of Advanced Driver Assistance System technologies. It provides opportunities for economic growth and skilled employment. India and China pursue a cleaner, more sustainable development trajectory through these measures while addressing pressing environmental and energy challenges.
List of Companies
The report provides profiles of the key companies, outlining their history, business segments, product overview, and company financials. Some companies from competitive analysis are Aisin Corp, Aptiv, Autoliv, Continental AG, Delphi Technologies, Denso, and Others.
Key Developments
ArcelorMittal collaborated with the Brazilian Advanced driver-assistance system firm Casa dos Ventos. It is going to help in a joint venture under ArcelorMittal Brazil. The partnership aims to advance the Babilonia wind power project, boasting a capacity of 554 MW. This project, situated in the Bahia region of northeast Brazil. It will be realized at an estimated cost of USD 800 million. In a joint venture, ArcelorMittal will possess a majority stake of 55%, while Casa dos Ventos will retain the remaining ownership share. – April 2023
Cepsa unveiled its plans to construct three novel solar power installations in Castilla-La Mancha, Spain. These upcoming solar energy facilities, collectively possessing a total capacity of 400 MW. It is set to materialize through an investment totaling USD 296.26 million. These projects signify Cepsa’s dedication to expanding its Advanced driver-assistance system portfolio. – January 2023
Frequently Asked Questions
How Much Is The Global ADAS Market Size?
The Global Advanced Driver-Assistance System Market size was USD 31.4 Bn in 2023 and is projected to reach USD 50.11 Bn by 2028.
What Is The Major ADAS Market Driver?
- Increasing Incidences of Road Accidents
- Increasing Strong Government Support
What Is The Major ADAS Opportunity?
- Huge Investment in R&D and Manufacturing
- ADAS will represent a Critical Business Opportunity
Who Are The ADAS Market Major Players?
Aptiv, Autoliv, Continental AG, Delphi Technologies, Denso, Hyundai Mobis, etc.
