Advanced Driver Assistance System (ADAS) Market Size US$ 21 billion Value Anticipated To Reach By 2030

The global Advanced Driver Assistance System (ADAS) Market is poised to reach USD 21 billion and CAGR 9% by 2030. Advanced Driver Assistance System (ADAS) industry report provides crucial industry insights that will help your business exponentially growth.

The Global ADAS Market was worth US$ 21 billion in 2019 and is expected to grow at a CAGR of 9% through 2030. Advanced driver assistance systems have contributed significantly towards improving the passenger and occupant safety by integrating advanced features into automobiles. With implementation of functionalities such as basic automatic cruise control (ACC), the automobile manufacturers are focusing to target economy and mid-range vehicle segment across the emerging countries to gain competitive advantage. The automotive sales during past couple of years have lowered, which is anticipated to further witness marginal growth due to prevalence of COVID-19 pandemic across the globe. Lowered demand, disruption in supply chain, and to ensure the safety of employees has resulted in suspension of production activities of leading automotive OEMs and advanced driver assistance system vendors across the globe. This is anticipated to impact the growth of the global advanced driver assistance system market in coming years.

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Increased number of road accidents and emphasis on improving safety to drive the growth of Radar sensors

The global advanced driver assistance system market is segmented based on component, system, vehicle type, propulsion type, level of autonomy, and geography. Based on component, the global advanced driver assistance system market is segmented into hardware, software, and services. The hardware segment is further sub-segmented into electronic control unit (ECU), camera unit, LiDAR, Radar sensor, ultrasonic sensor, infrared sensor, and others. The hardware components contributed a dominating share to the global market in 2019 and is anticipated to be the fastest growing segment during the forecast period. Among the hardware segment, the Radar sensor contributed the largest share to the global market owing to increased demand form incorporating safety features in mid-range and economy vehicles. The electronic control unit (ECU) is anticipated to be the fastest growing hardware component during the forecast period.

Growing adoption of electric vehicles to pilot the demand for advanced driver assistance systems in coming years

Based on propulsion type, the global advanced driver assistance system market is segmented into internal combustion (IC) engine vehicle and electric vehicle. The electric vehicle segment is further sub-segmented into battery electric vehicles (BEV), hybrid electric vehicles (HEV), plug-in hybrid electric vehicle (PHEV), and fuel cell electric vehicle (FCEV). The internal combustion (IC) engine vehicle dominated the global advanced driver assistance system market in 2019 and is anticipated to witness steady growth during the forecast period. The electric vehicle is anticipated to be the most lucrative segment during the forecast period owing to increased adoption of electric vehicle across major countries globally to minimize carbon emissions from vehicles.

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Based on geography, the global advanced driver assistance system market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe held the largest share to the global advanced driver assistance system market in 2019 and is anticipated to witness significant growth during the forecast period. Asia Pacific contributed a prominent share to the global market in 2019 and is anticipated to be the fastest growing segment during the forecast period. Asia Pacific is expected to dominated the global advanced driver assistance system market by the end of 2030. Presence of leading automotive manufacturers, advanced driver assistance system manufactures, and increased investment in expansion of automotive electronic manufacturing across China, Japan, South Korea, and India are the key factors contributing towards the growth of Asia Pacific advanced driver assistance system market.

Major players active in the global advanced driver assistance system market include Aptiv, Continental AG, Cypress Semiconductor Corporation, DENSO Corporation, HYUNDAI MOBIS, Infineon Technologies AG, Intel Corporation, Magna International Inc., Microsemi Corporation, Nvidia Corporation, Robert Bosch GmbH, SAMSUNG, Texas Instruments Incorporated, Valeo, Veoneer, Xilinx, Inc., and ZF Friedrichshafen AG.

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