REDDING, Calif., May 13, 2024 /PRNewswire/ -- Meticulous
Research®—a leading global market research company, published a
research report titled, "ADAS Market by Type
(Blind Spot Detection Systems, Automatic Emergency Braking
Systems), Automation (Level 1, 2, and 3), Component (Vision Camera
Systems, Sensors), Vehicle, End Use (Passenger, Commercial), and
Geography—Global Forecast to 2031,' the ADAS
market is projected to reach $122.86
billion by 2031, at a CAGR of 14.6% during the forecast
period.
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The growth of the ADAS market is driven by stringent vehicle
safety regulations, the rising demand for luxury cars, and the
increasing integration of safety and comfort features in high-end
vehicles. However, the lack of supporting infrastructure in
developing countries restrains the growth of this market.
Moreover, the emergence of autonomous vehicles, increasing
developments in the autonomous shared mobility space, and the
rising adoption of electric vehicles are expected to generate
market growth opportunities. However, environmental and data
security risks and the high costs of implementing ADAS are major
challenges for the players operating in this market.
The global ADAS market is segmented based on system type
(adaptive cruise control systems, blind spot detection systems,
automatic parking systems, pedestrian detection systems, traffic
jam assistance systems, lane departure warning systems, tire
pressure monitoring systems, automatic emergency braking systems,
adaptive front-lighting systems, traffic sign recognition systems,
forward collision warning systems, driver monitoring systems, and
night vision systems), level of automation (level 1, level 2, and
level 3), component (vision camera systems, sensors, ECU, software,
and actuators), vehicle type (internal combustion engine, hybrid,
and electric vehicles), end use (passenger vehicles and commercial
vehicles), and geography. The study also evaluates industry
competitors and analyses the regional and country-level
markets.
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Based on system type, the ADAS market is broadly
segmented into adaptive cruise control systems, blind spot
detection systems, automatic parking systems, pedestrian detection
systems, traffic jam assistance systems, lane departure warning
systems, tire pressure monitoring systems, automatic emergency
braking systems, adaptive front-lighting systems, traffic sign
recognition systems, forward collision warning systems, driver
monitoring systems, and night vision systems. In 2024, the
adaptive cruise control systems segment is expected to account for
the largest share of 15.4% of the overall market.
However, the blind spot detection systems segment is projected to
register the highest CAGR during the forecast period. The growth of
this segment is attributed to the expanding e-commerce and
logistics sector, the increasing adoption of BSD systems in
vehicles, and the rising use of complementary metal oxide
semiconductors (CMOS) image sensors.
Based on level of automation, the ADAS market is broadly
segmented into level 1, level 2, and level 3. In 2024, the level 1
segment is expected to account for the largest share of
57.7% of the ADAS market. The growth of this segment is
attributed to the growing investments in vehicle electrification,
the rising demand for driver assistance systems, and the increasing
number of Level 1 vehicles on the road. However, the level 3
segment is projected to register the highest CAGR during the
forecast period. The growth of this segment is attributed to the
rising demand for self-driving vehicles and the increasing
initiatives by major market players aimed at launching advanced
Level 3 autonomous cars.
Based on component, the ADAS market is broadly segmented
into vision camera systems, sensors, ECU, software, and actuators.
In 2024, the sensors segment is expected to account for the largest
share of the market. However, the sensors segment is projected to
register the highest CAGR during the forecast period. The growth of
this segment is attributed to the rising need to reduce greenhouse
gas emissions and the increasing demand for sensors in hybrid
powertrains.
Based on vehicle type, the ADAS market is broadly
segmented into internal combustion engine, hybrid, and electric
vehicles. In 2024, the internal combustion engine vehicles segment
is expected to account for the largest share of the market.
Internal combustion engine (ICE) vehicles are automobiles that use
an internal combustion engine (ICE) to power the vehicle. ICEs are
typically powered by fossil fuels such as gasoline or diesel, but
they can also be powered by alternative fuels such as ethanol or
compressed natural gas. ICE vehicles have been the dominant form of
transportation for the past century. However, the electric vehicles
segment is projected to register the highest CAGR during the
forecast period. The supportive government policies and
regulations, increasing investments by leading automotive OEMs,
rising environmental concerns, decreasing prices of batteries, and
advancements in charging technologies are the key factors driving
the growth of electric vehicles in the ADAS market.
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Based on end use, the ADAS market is broadly segmented
into passenger and commercial vehicles. In 2024, the passenger
vehicles segment is expected to account for the larger share of
70.7% of the ADAS market. The growth of this segment is
attributed to the growing awareness regarding the hazards
associated with greenhouse gas emissions and environmental
pollution, stringent emission norms, and demand for premium cars
among consumers. However, the commercial vehicles segment is
projected to register the highest CAGR during the forecast period.
The growth of this segment is attributed to the increase in fuel
prices and stringent emission norms set by governments, the growing
adoption of autonomous delivery vehicles, and the increasing
adoption of electric buses and trucks.
Based on geography, the ADAS market is segmented into
North America, Europe, Asia-Pacific, Latin
America, and the Middle
East & Africa. In 2024,
Asia-Pacific is expected to
account for the largest share of 58.7% of the ADAS market.
The Asia-Pacific ADAS market is projected to be worth
USD 27.8 billion in 2024. The
growth of ADAS in APAC is attributed to the growing automotive
manufacturing sector in countries such as Japan, China,
India, and South Korea, supportive government
regulations, and the rising popularity of Electric Vehicles
(EVs).
However, Europe is expected to
command the highest CAGR of the global ADAS market. The market
growth in the region is attributed to the huge presence of
component manufacturers, the growth of the overall automotive
sector, and the high demand for sensors for automated vehicle
prototypes.
Europe has been an early
adopter of ADAS. The consistent developments in making stringent
emission regulations by the European Union and increasing the
countries' focus on reducing the number of conventional cars on the
roads are anticipated as the key factors driving the ADAS market in
Europe. In addition, European
regulatory bodies have also been increasingly prioritizing vehicle
safety. ADAS technologies, such as adaptive cruise control, lane
keeping assistance, automatic emergency braking, and blind-spot
monitoring, contribute significantly to meeting safety standards
and reducing accidents.
The key players profiled in the global ADAS market study include
Continental AG (Germany), Valeo SA
(France), Robert Bosch GmbH
(Germany), ZF Friedrichshafen AG
(Germany), and Aptiv PLC
(Ireland), Autoliv, Inc.
(Sweden), Denso Corporation
(Japan), Garmin Ltd. (U.S.),
Infineon Technologies AG (Germany), Magna International Inc.
(Canada), Mobileye B.V.
(Israel), Huawei Technologies Co.,
Ltd. (China), Qualcomm
Technologies, Inc. (U.S.), Microsoft (U.S.), and NXP Semiconductors
N.V. (Netherlands).
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Scope of the report:
ADAS Market Assessment —by System Type
- Blind Spot Detection Systems
- Parking Assistance Systems
- Lane Departure Warning Systems
- Adaptive Front-Lighting Systems
- Forward Collision Warning Systems
- Driver Monitoring Systems
- Night Vision Systems
- Adaptive Cruise Control Systems
- Automatic Emergency Braking Systems
- Tire Pressure Monitoring Systems
- Traffic Sign Recognition Systems
- Pedestrian Detection Systems
- Traffic Jam Assistance Systems
ADAS Market Assessment —by Level of Automation
ADAS Market Assessment —by Component
- Vision Camera Systems
- Sensors
- LiDAR
- Radar
- Ultrasonic Sensors
- GPS/GNSS Sensors
- ECU
- Software
- Actuators
ADAS Market Assessment —by Vehicle Type
- ICE Vehicles
- Petrol Vehicles
- Diesel Vehicles
- CNG Vehicles
- Other Vehicles
- Hybrid Vehicles
- Pure Hybrid Vehicles
- Plug-in Hybrid Vehicles
- Electric Vehicles
ADAS Market Assessment —by End Use
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
ADAS Market Assessment —by Geography
- North America
- Asia-Pacific
- China
- Japan
- South Korea
- Indonesia
- Thailand
- India
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Russia
- Sweden
- Netherlands
- Italy
- Spain
- Denmark
- Rest of Europe
- Latin America
- Middle East & Africa
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