Global Advanced Driver Assistance Systems Market Industry Trends, Estimation & Forecast, 2018 - 2025

ADAS technology improves the driving experience, while enhancing the vehicle and pedestrian safety thus in high demand. Its an integral part of automobiles being adopted in passenger cars and commercial vehicles. Stimulated demand for safety features and increased requirement for comfort while driving fosters growth of ADAS in the market. Stringent safety rules and regulations are anticipated to propel the growth of ADAS market. But high initial cost and complex structure and lower efficiency in bad weather conditions hinder the ADAS market size. Technological advancements in Advanced driver assistance system and production of multifunctional system is anticipated to provide a remarkable growth opportunity for the ADAS Market Leaders. All the factors mentioned above have significant impact on the global market during the forecast period.

The Advanced driver assistance system is estimated to be USD 30.0 billion in 2018 and is projected to reach USD 134.9 billion by 2025, at a CAGR of 20.7% during the forecast period.

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The Radar sensor segment is the major segment for the ADAS market due to its sensor technology, recording annual revenue of $1.58 billion in 2017 and is estimated to grow at a CAGR of 12.2%. The high demand for radar sensors can be attributed to the advantages offered by these sensors in various vehicle applications. Safety features are designed to avoid crashes and accidents by offering technologies that alert the driver to potential problems or to avoid accidents by executing safeguards and taking over control of the vehicle. Advanced driver assistance system segments also include adaptive cruise control, incorporate GPS/ traffic warnings, automatic braking, connect to smartphones, automatic lighting, and alert drivers of other cars when in danger, lane departure warning system and others. These kinds of above segments are also stimulating the growth of the ADAS market in the automobile industry.

Asia-Pacific is the dominating region for the global ADAS market recording annual revenue of $19.39 billion in 2018 and is projected to grow rapidly at a CAGR of 18.9%.  developing countries, such as India, China, and Indonesia, with the increase in the number of vehicle sales, more customers are opting for ADAS features in their vehicles owing to the need for safety and comfort. Initially, the majority of the consumers did not adopt these systems due to the high cost and lack of awareness in the APAC region. However, with the new government regulations in place and the proven safety benefits, these systems have gained consumer interest and demand. Most of the ongoing installations are being done in the aftermarket, as the people do not usually wish to go for new vehicles just for having ADAS.

Major players for this market includes Autoliv Inc., Continental AG, DENSO Corporation, Magna International Inc., ROBERT BOSCH STIFTUNG GMBH (ROBERT BOSCH GMBH), Valeo, NXP Semiconductors, Panasonic Corporation, Renesas Electronics Corporation, Texas Instruments, Delphi Automotive Company, Hyundai Mobis, Takata Corporation, ZF Friedrichshafen, Aisin Seiki Co., Ltd., Mobileye N.V, Harman International Industries, NVIDIA Corporation, Hitachi Ltd., Stonkam Co., Ltd., and others hold major ADAS market share.

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