Advanced Driver Assistance System (ADAS) Market Looks Competitive, Expected to Reach $75.27 Billion by 2030; Challenges and Opportunities Ahead

New York, USA, Oct 27, 2022 - Advanced Driver Assistance Systems market size in 2021 was $23.44 billion, and having an extraordinary CAGR of 13.83% will attain a value of USD 75.27 billion by 2030. Generally, vehicle accidents are caused by human error, which can be neglected with the help of ADAS. The work of ADAS is to prevent injuries and deaths by decreasing the number of automobile accidents and their serious impacts, which are impossible to avoid. ADAS features like Blind Spot Warning, Automatic Emergency Braking; Adaptive Cruise Control is available in nearly 80% of each segment of SUV vehicle, in midsize and large size.

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ADAS Applications
Passive safety equipment (three-point seatbelts, shatter-resistant glass, airbags) were inbuilt into earlier cars to minimize injury during an accident. Now, ADAS has improved active safety with embedded vision by decreasing the chances of accidents and injury.
Implementing cameras in the vehicle has a new AI function that uses sensor fusion to recognize and process objects. Sensor fusion mimics the human brain and processes information, amalgamating huge chunks of data with the assistance of image recognition software, radar, ultrasound sensors, and lidar. ADAS technology functions faster and more accurately than a human driver could in crunch situations.

ADAS MARKET KEY INSIGHTS
In Europe, semiconductor shortage will be resolved by the 3rd quarter of 2022; the car industry market for this year is predicted to be on the positive side. Automotive production is predicted to grow by nearly 13% in 2022. Europe has emphasized and made it mandatory on the front-facing camera and radar systems in every vehicle by 2024. ADAS technology is improving rapidly in 2022 because of government policies. For instance, collision warning indicators and electronic stability control are forecasted to increase from 83% in 2021 to 100% by 2025. Restriction parameters on speed regulation will increase from 48% to 100% in the ADAS market during the same period.
EV sales in Europe are surging and breaking all the previous records for electric cars, including plug-in hybrids, fully electric vehicles, and hybrids, with a rise of 63% and a total of 1.2 million units sold in 2021. EV market share rose to 10% in 2021 from last year's 6.2% in the ADAS market.

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TOP COMPANIES
Robert Bosch GmbH
Continental AG
ZF Friedrichshafen AG
DENSO Corporation
Valeo SA
Vioneer Inc.
Aptiv Plc
Autoliv Inc.
Panasonic Corporation
Texas Instrument
Aisin Seiki Co. Ltd.
Mobileye
Magna International
NVIDIA Corporation
NXP Semiconductors NV
Renesas Electronics Corporation
Harman International Industries

KEY SEGMENTS
By System:
Maxi
Folding
Three-Wheeled
Standard
Self-balancing
By Battery Type:
Lead-based
NiMH
Li-ion
By Technology:
Battery
Plug-in
By Region:
Europe
North America
Asia Pacific
MEA
Latin America

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REGIONAL ANALYSIS
The Asia-Pacific region is predicted to hold the maximum share by 2030. Presently, Asia Pacific is the leader in the global ADAS market in share and is expected to lead from the front soon. The causal features are the rise in competition among ADAS manufacturers and the increase in per capita income in this part of the world. Furthermore, connected infrastructure developments and intelligent transportation systems are behind the market growth. There are top Multinational and startup companies involved in the ADAS industry, namely Robert Bosch GmbH, Denso Corporation, Hitachi, Audi AG, Valeo, and General Motors, which are boosting its development and growth.

NEW INNOVATIONS AND RECENT DEVELOPMENTS
• In MAY 2022, new sensors were launched by Continental to shield the battery of an electric vehicle. Continental is increasing its portfolio by inaugurating two new sensors targeting the electric vehicles segment. Current sensor module (CSM) and Battery Impact Detection (BID) system.
• Renesas announced its collaboration expansion with Honda in the industry of ADAS. Honda used R-car automotive system on one of its chips (SoC).

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