Advanced Driver Assistance System Market (ADAS) to Grow at a CAGR of 20.7%

The Advanced Driver Assistance System Market (ADAS) 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.

The 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.

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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).

AEB segment to hold the largest share of the ADAS market, by system

Governments of developed countries have mandated the fitment of AEB in buses & trucks. For instance, Regulation No 661/2009 of the European Parliament and of the Council (dated 13 July 2009) mandated the inclusion of the AEB system in buses & trucks.

It also stipulated the standard fitment of LDW in the same vehicle categories and with the same deadlines as autonomous emergency braking systems.

The system is expected to be equipped in all new commercial vehicles above 3.5 tons and buses from November 2013, and in all vehicles of these categories sold in the European Union from November 2015. In 2018, the South Korean government-mandated AEB from January 2019 in all new passenger vehicles. These mandates will drive the growth of the AEB market in the near future.

Software: The fastest-growing offering type of the ADAS market

The software segment is estimated to be the fastest-growing segment of the ADAS market, by offering. The main purpose of the software is to communicate autonomously with other devices.

The increase in software content in the advanced applications of the vehicle is expected to drive the software segment of the ADAS market.

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A radar sensor is the fastest-growing segment of the ADAS market, by component

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.

Hybrid Electric Vehicle (HEV) to acquire the largest share of the ADAS market, by electric vehicle type

HEV is estimated to hold the largest share of the ADAS market, by electric vehicles. Stringent emission norms, environment safety, vehicle electrification, and government regulations are expected to boost the market for ADAS in the HEV segment.

ADAS is installed in HEVs for increasing passenger safety and also mitigate imminent accidents. Hence, an increase in demand for safer, efficient, and convenient driving experience will propel the demand for ADAS.

Hyundai Ioniq and Toyota Prius are the top-selling hybrid cars. Hyundai Ioniq is fitted with ADAS features such as adaptive cruise control, automatic emergency braking, and lane departure warning.

Toyota Prius is equipped with ADAS as a pedestrian detection system, adaptive front light, collision avoidance system, adaptive cruise control, intelligent park assists, and lane departure warning.

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Asia Pacific: The largest market for the ADAS market

The Asia Pacific region is estimated to hold the largest share, by value, of the ADAS market in 2018. The 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 the vehicle and road safety regulations regarding the installation of ADAS in vehicles due to the growing population as well as vehicle demand.

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