Global Advanced Driver Assistance Systems (ADAS) Market 2024 Research Report

Advanced Driver Assistance Systems (ADAS) Market 

Automotive vision, MMW radar and ADAS are the market segments that develop first with the MMW radar market enjoying an impressive growth rate, closely followed by low-speed autonomous driving. While LiDAR, commercial-vehicle autonomous driving and passenger-car autonomous driving markets lag behind.

 The global ADAS market was valued at US$ 25770 million in 2023 and is anticipated to reach US$ 57760 million by 2030, witnessing a CAGR of 11.7% during the forecast period 2024-2030.

 

Report Scope

The ADAS market size, estimations, and forecasts are provided in terms of output/shipments (Units) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global ADAS market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the ADAS manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.

 

Report Metric	Details
Report Name	Advanced Driver Assistance System (ADAS) Market
Segment by Materaial	Hardware Software
Segment by Application	PC LCV Buses Trucks
By Region	North America (United States, Canada) Europe (Germany, France, UK, Italy, Russia) Rest of Europe Nordic Countries Asia-Pacific (China, Japan, South Korea) Southeast Asia (India, Australia) Rest of Asia Latin America (Mexico, Brazil) Rest of Latin America Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of MEA)
By Company	Aisin Seiki, Autoliv, Bosch, Continental, Delphi Automotive, Denso, Freescale Semiconductors, Gentex, Harman International, Hella, Hyundai Mobis, Magna International, Mobileye, NVIDIA, Panasonic, Joyson Safety Systems, Texas Instruments, TRW Automotive, Valeo
Forecast units	USD million in value
Report coverage	Revenue and volume forecast, company share, competitive landscape, growth factors and trends

 

Trends Influencing the Growth of the ADAS Market 

Stringent regulations by the government regarding road safety and support

Traffic congestion and road accidents are a huge menace across the globe. Government authorities in various countries have adopted strict regulations in order to curb accidents due to driver’s negligence and error. The continued support has given rise to the integration of safety systems and equipment into vehicles. Thus strict regulations and increasing support by governments for road safety will propel the growth of the adas market during the forecast period.

Technological advancement and shift towards automation

Manufacturers are focussing on rapid technological advancements in ADAS systems to prevent  vehicular accidents due to human error. Automated lighting, adaptive cruise control and emergency braking systems have been designed to alert drivers to potential hazards, blind spots and lane departures. Further forward collision warning and other features are being developed to increase driver awareness and prevent collision. This ensures safety of both passengers and pedestrians on the road. Thus rapid technological advancements and benefits of automation will provide lucrative opportunities for the growth of the adas market in the future.

Growing demand for comfort, efficiency and safety feature

Artificial intelligence has enhanced the safety and security of automobiles through rapid integration of adas systems. Sensors, processors, cameras and algorithms increase the efficiency of the vehicle and assist the driver in overcoming navigational hazards. This is increasing efficiency. Consumers are now aligning more towards high end, safety and comfort features in vehicles. This is creating huge demand for advanced driver assistance systems thereby driving the growth of the adas market during the forecast period.