The growing demand for safety and driving comfort features is the crucial aspect of the rise in the market revenue of Advanced Driver Assistance Systems (ADAS) as well as the stringent vehicle safety regulations that will foster market growth.
JERSEY CITY, NJ, July 12, 2022 /PRNewswire/ — Verified Market Research recently published a report, “Advanced Driver Assistance Systems (ADAS) Market” By System (Adaptive Cruise Control, Blind Spot Detection System), By Vehicle Type (Buses, Light Commercial Vehicles (LCVs)), By Electric Vehicle Type (Battery Electric Vehicle, Fuel Cell Electric Vehicle), and By Geography. According to Verified Market Research, the Advanced Driver Assistance Systems (ADAS) Market size was valued at USD 25.92 Billion in 2021 and is projected to reach USD 55.66 Billion by 2030, growing at a CAGR of 10.8% from 2022 to 2030.
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Global Advanced Driver Assistance Systems (ADAS) Market Overview
Companies in the advanced driver assistance Advanced Driver Assistance Systems (ADAS) Market are entering into collaborations to deploy mass adoption of ADAS options with a replacement efficient 3D (3 dimensional) surround read system designed for entry- and mid-range vehicles. By enabling 3D surround read safety capabilities, the new system helps automakers to deliver safe and a lot of advanced vehicles to a bigger variety of car customers, thereby contributing to a secure vehicle society. The new 3D surround reading system is a vehicle camera system that provides a 360-degree position to help drivers while parking or playing low-speed operations.
The increasing awareness regarding vehicle safety ratings and reducing part prices due to intensive utilization of cameras and radars is one of the drivers for the Advanced Driver Assistance Systems (ADAS) Market. Several OEMs are holding ADAS solutions to achieve higher safety ratings to draw in a lot of customers. Hence, leading OEMs either standardize safety systems across the models or provide them as extra options. Thus, the increasing penetration of ADAS options can surge the demand for parts like cameras, radiolocation sensors, supersonic sensors, and measuring systems throughout the forecast amount.
- January 2020: ZF Friedrichshafen launched ZF coASSIST, a Level 2+ automated driving system, which is its first step into the modular Level 2+ hardware and software suite and highlights ZF’s capabilities as a full system supplier. From 2020, ZF will equip production vehicles with this new ZF system for a major Asian manufacturer.
The major players in the market are Robert Bosch (US), Aptiv (UK), Continental (Germany), Denso (Japan), Hella (Germany)Intel (US), Magna (Canada)NVIDIA (Germany), Valeo (France), and ZF Friedrichshafen (Germany).
Verified Market Research has segmented the Global Advanced Driver Assistance Systems (ADAS) Market on the basis of System, Vehicle Type, Electric Vehicle Type, and Geography.
- Advanced Driver Assistance Systems (ADAS) Market, By System
- Adaptive Cruise Control
- Blind Spot Detection System
- Park Assistance
- Advanced Driver Assistance Systems (ADAS) Market, By Vehicle Type
- Light Commercial Vehicles (LCVs)
- Passenger Cars (PCs)
- Advanced Driver Assistance Systems (ADAS) Market, By Electric Vehicle Type
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
- Hybrid Electric Vehicle
- Plug-In Hybrid Electric Vehicle
- Advanced Driver Assistance Systems (ADAS) Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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