The demand for Automotive ADAS (Advanced Driver Assistance Systems) Market is anticipated to rise in the coming years as people become more aware of how important it is to reduce auto accidents

Over the forecast period of 2022-2032, the advance driver assistance system market is expected to grow at a CAGR of 9.6% to reach a valuation of US$ 131,069.1 Mn by 2032.
Almost all vehicles accidents are caused by human error, which can be avoided with advance driver assistance system (ADAS). The role of ADAS is to prevent deaths and injuries by reducing the number of car accidents and serious impact of those that cannot be avoided. ADAS manufacturers/ developers have developed systems focusing their efforts on making driving experience safer and having human less human interference. As a result, the advance driver assistance system industry is predicted to grow steadily in the future.
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Strict regulations imposed on car manufacturers by various government bodies around the world promoting passenger safety will aid overall growth of the market. During the forecast period, growth in the automotive industry, combined with rising government initiatives to adopt advanced technologies, develop increasingly structured safety features, and a rising trend of government and consumer adoption of autonomous vehicles will open new revenue paths for the global ADAD market.
During the forecast period, the global ADAS market will benefit from an increase in per-capita consumer spending power in developing economies, as well as an increase in demand for premium and luxurious features in their vehicles. However, high initial costs and an increase in malfunctioning components may limit the global ADAS market growth. Nonetheless the market is predicted to grow due to rising demand from emerging countries such as China, India, Germany and others.
Key Takeaways from Market Study
• By ADAS type, night vision system (NVS) sales are expected to grow at a CAGR of 9% in global market.
• By technology type, ultrasonic sensor and radar sensor segment is expected to lead with a market share of more than 0%.
• By vehicle type, the passenger vehicle segment will dominate the market with more than 71% of the market share.
• In terms of region, South Asia and Pacific is predicted to exhibit a CAGR of 12.4%.
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ADAS Market by Category
By System:
• Adaptive Cruise Control (ACC)
• Automotive Emergency Braking (AEB)
• Adaptive Front Light (AFL)
• Blind Spot Detection (BSD)
• Driver Monitoring System (DMS)
• Forward Collision Warning (FCW)
• Lane Departure Warning (LDW)
• Night Vision System (NVS)
• Park Assist (PS)
• Tire Pressure Monitoring System (TPMS)
By Technology:
• Ultrasonic Sensor
• Lidar Sensor
• Radar Sensor
• Camera Sensor
• Infrared Sensor
• Pressure Sensor
By Sales Channel:
• Original Equipment Manufacturer (OEM)
• Aftermarket
By Vehicle Type:
• Passenger Vehicle
• Heavy Commercial Vehicle
• Light Commercial Vehicle
By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa
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This release was published on openPR.