Global ADAS Market 2027 Overview, New Business Opportunities, Developments

The ADAS market is principally driven by the increasing demand for a safe, efficient, and convenient driving experience. The increasing demand for autonomous vehicles has also fueled the ADAS market. Driver errors can be minimized by transforming the vehicle into a self-driving unit as automated driving technology helps to reduce the errors caused by drivers. ADAS would play a crucial role in reducing the number of road accidents and would lead to a safe, productive, and efficient driving experience.

The ADAS market (advanced driver assistance system) is estimated to be USD 30.0 billion in 2019 and is projected to reach USD 134.9 billion by 2027, at a CAGR of 20.7% during the forecast period.

Opportunities:

1 The advent of Autonomous Vehicles
2 Rising Demand for Electric Vehicles

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The global ADAS market is dominated by major players such as Robert Bosch (Germany), ZF Friedrichshafen (Germany), Aptiv (UK), Continental (Germany), and Intel (US).

Recent Developments:

* In May 2019, Mitsubishi Electric Corporation and HERE Technologies have successfully piloted a system that enables vehicles to automatically warn about upcoming road hazards with lane-level precision. This technology was successfully tested in the US.

* In April 2018, Robert Bosch developed a highway assist system to help drivers keep their vehicles in a lane in order to mitigate an accident. The new Bosch highway assist system is installed on the 2018 Maserati Ghibli, Levante, and Quattroporte.
In April 2018, Continental developed new concepts designed to warn drivers about an imminent risk of aquaplaning. Aquaplaning assistance concepts utilize surround-view camera images and signals from tire-mounted sensors (eTIS) for advanced tire information.

* In January 2018, ZF Friedrichshafen expanded its manufacturing and engineering footprint in Poland to produce products including an advanced camera for driver-assist systems. The 10,000-square-meter manufacturing facility will be fully operational by the end of 2019. The expansion would add more than 300 jobs.

* In January 2018, Continental opened the Center for Deep Machine Learning in Budapest, Romania. The company’s advanced driver assistance systems business unit is using machine learning and neural networks for developing a high-performance driver assistance system.

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The Asia Pacific market is expected to witness the fastest growth, followed by RoW and North America. An increase in luxury vehicle sales and safety concerns among consumers would positively impact this market in the Asia Pacific. Safety regulations are present in a few Asia Pacific countries such as Japan and South Korea, and demand in these countries is anticipated to be on a rise for the next 5 years. Countries such as China, South Korea, and Japan are estimated to come up with vehicle and road safety regulations regarding the installation of ADAS in vehicles due to the growing population as well as vehicle demand.

The increased traffic congestion, roadways infrastructure, and government regulations for vehicle safety will drive the growth of various radar-based ADAS applications. The rising trend of autonomous and semi-autonomous vehicles in the automobile industry is projected to be another major driver for the global automotive radar market. The increased traffic congestion, infrastructure roadways, government regulations for vehicle safety, and the adoption of automotive radar-based ADAS technology by OEMs has eventually created opportunities for various radar-based ADAS applications.

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