Advanced Driver Assistance System (ADAS) Market 2024 By Key Manufacturers – Autoliv, Continental, Delphi, Denso, HARMAN International, HELLA, Magna International, NVIDIA, NXP Semiconductors, Panasonic, Texas Instruments, Valeo

Asia Pacific advanced driver assistance system market is expected to witness highest growth through the forecast period. Initiatives emphasizing on the utilization of Artificial Intelligence (AI), collaboration for the development of ADAS, improved sensing systems, and faster information processing capabilities are expected to be among the major factor projected to offer strong growth platform. Moreover, requirement of the ADAS for automation technologies, the industry is expected to witness exponential growth over the forecast period.

Advanced Driver Assistance System Market will witness over 12.5% CAGR with USD 67 billion by 2024.

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LiDAR sensors acquired over 20% of the ADAS revenue market share in 2017, will witness 12.5% CAGR over the forecast timeframe. High accuracy, fast processing, minimum human dependence, weather independence, competitive sensors costs are among key properties driving the LiDAR demand. Effective prevention from geometrical distortions including angular landscape will provide positive outlook for LiDAR segment in ADAS market size.

Park assist system accounted for 11% of the ADAS market share. It finds substantial applications for blind spots elimination and accidental threats mitigation. These systems have found significant penetration in the passenger and commercial vehicles for its efficient detection and warning capabilities. Moreover, semi-autonomous parking assist system operations require the deployment and integration of park assist systems for enabling the vehicle safety.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Autoliv Inc.
2. Bosch Group
3. Continental AG
4. Delphi Technologies
5. Denso Corporation
6. Harman International
7. Hella GmbH & Co. KGaA
8. Hyundai Mobis
9. Magna International Inc.
10. Mobileye
11. NVIDIA Corporation
12. NXP Semiconductor
13. Panasonic Corporation
14. Renesas Electronics Corporation
15. Texas Instruments
16. Valeo SA

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The ADAS Market is driven by reduced visibility at night and steep turns, growing mobile phones usage during driving, user misjudgment due user fatigue results in significant loss of human life and property damages. According to global status report on road safety by World Health Organization (WHO), around 1.3 million people are faced with fatal accidents, accounting for the world’s third largest contributor to human fatalities. This in turn is expected to drive the urgency for deployment of advanced driver assistance systems through the forecast timeframe.

Based on distribution channel, aftermarket is expected to witness highest CAGR through the forecast period. This can be credited to the provision of cost-effective automotive components driving the aftermarket industry growth. Easy product availability due to abundant component suppliers operating in aftermarket will drive the industry growth. Moreover, higher replacement rates of the electronic sensors and related components will present strong growth potential landscape for the ADAS aftermarket.

Based on vehicles, LCV is expected to witness highest growth demands through the forecast period. Potential ADAS application in commercial applications, construction, and military for safeguarding humans and goods will propel the advanced driver assistance systems (ADAS) market demand from LCVs.

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Major industry participants of the advanced driver assistance systems (ADAS) market are Continental AG, Robert Bosch, Autoliv, Magna International, Texas Instruments and TRW Automotive. Other notable industry participants include Delphi, NXP Semiconductor Inc, Aisin Seiki Co., Denso Corporation, Harman International, NVIDIA Corporation, and Hyundai Mobis.

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