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ADAS Market worth $83.0 billion by 2030 | MarketsandMarkets

08-06-2021 12:36 PM CET | Tourism, Cars, Traffic

Press release from: MarketsandMarkets

ADAS Market worth $83.0 billion by 2030 | MarketsandMarkets

The global Advanced Driver Assistance Systems (ADAS) Market size is projected to grow from $27.0 billion in 2020 to $83.0 billion by 2030, at a CAGR of 11.9%.

Top Players:

Robert Bosch (Germany), Continental AG (Germany), ZF Friedrichshafen (Germany), Denso (Japan), Aptiv (UK), Valeo (France), Hyundai Mobis (South Korea), Veoneer (Sweden), Magna International (Canada).

Startups:

Luminar Technologies (US), ADASKY (Israel), Bright Way Vision (Israel), TriEye LTD (Israel).

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The passenger car segment is expected to dominate the ADAS market, by vehicle type, during the forecast period.

The increasing trend of self-driving cars and technological developments in passenger cars are likely to be the driving factors for the ADAS market. The rising global demand for luxury vehicles globally is also a major driving factor for the passenger car segment. Most luxury vehicles are equipped with a driver monitoring system, intelligent park system, pedestrian detection system, lane departure warning system, blind-spot monitoring system, and cross-traffic alert, among others. An increase in the sale of luxury vehicles will positively impact the demand for ADAS solutions during the forecast period.

Level 1 segment is expected to dominate the ADAS market, by the level of autonomy, during the forecast period.

Higher penetration of L1 features such as adaptive cruise control (ACC), adaptive front light (AFL), and tire pressure monitoring system (TPMS) will drive the L1 segment of the ADAS market. Currently, ACC systems are considered essential for driver assistance systems by most OEMs. Due to advancements in cameras and radar sensors, ACC is now reliable, inexpensive, and mainstream. Major OEMs such as Toyota, Honda, Audi, Ford, and GM have begun including this feature as standard across their models. Upcoming vehicles are likely to have this feature as a standard even in lower segment vehicles during the forecast period.
TPMS is standard in major European countries, Russia, Japan, Taiwan, the US, and China. Other Asia Pacific countries such as India and Malaysia are considering making it standard as well. More such mandates will spur the growth of the L1 segment in the ADAS market.

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The radar segment is expected to dominate the ADAS market, by component type, during the forecast period.

Radar (radio detection and ranging) technology transmits strong radio waves and receives waves that are reflected from objects. These waves are then used by sensors to calculate the echo time or detect the object. Pulse-doppler radar is the most commonly used variant of radar sensors in present ADAS. It functions by sending short pulses of radio energy and concurrently listens for the echo from objects using the same antenna. The major advantage of radar is that it can be used for long- as well as short-distance ranges. Radar is not vulnerable to adverse weather and lighting conditions, unlike cameras.

ADAS technologies such as adaptive cruise control, lane departure warning, blind-spot detection, park assist, and others use radar sensor technology. When combined with cameras, radar sensors provide accurate object detection and help OEMs deliver reliable safety systems.

Opportunity: Emergence of autonomous vehicles

The introduction of autonomous vehicles is expected to transform commuting. ADAS technologies have significantly reduced the complexity of driving, with features such as lane monitoring, emergency braking, stability controls, and others. Autonomous vehicles rely on advanced technologies and systems such as LiDAR, radar, ultrasonic sensors, and high-definition cameras to collect data. This data is analyzed by an onboard smart autonomous driving system to manoeuvre the vehicle safely. Tesla, Volkswagen, Ford, General Motors, and Waymo plan to launch fully autonomous vehicles in the coming years. In March 2018, Nissan announced plans to deploy ProPILOT in 20 models by 2022. The increasing focus on autonomous driving systems would enable OEMs to incorporate more cruise control features and advanced safety systems for semi-autonomous vehicles.

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