Global ADAS Market Report Analysis and Forecast 2022-2030

According to a new market research report published by Inkwood Research, the Global Advanced Driver Assistance System (ADAS) Market is projected to record growth at a CAGR of 14.68% in terms of revenue during the forecasting years of 2020-2028.
"Browse 118 Market Data Tables and 74 Figures spread over 321 Pages, along with an in-depth TOC on the Global Advanced Driver Assistance System (ADAS) Market Forecast 2018-2026."

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Advanced driver-assistance systems (ADAS) are electronic systems that aid the driver during driving or parking the vehicle. The systems are equipped with a camera, radar, and sensors, for providing real-time information about the surrounding environment. These systems provide road safety assistance, and aid in the detection and prevention of crashes and accidents. The features of ADAS come built-in, but are also available as aftermarket solutions. The systems began as a safety feature and have advanced with the expansion of its several capabilities.

Increasing Awareness of Driver Assistance System Fuels Market Growth
Vehicle sales have shot up in developing countries. The need for safety and comfort, along with the government regulations and safety benefits, has led to more and more consumers opting for ADAS features in their vehicles. The high costs and lack of awareness deterred the consumers from adopting these systems initially. For a few years, the OEMs efforts have been directed to educate the consumers about the benefits of technological advancements in the ADAS. At the same time, most of the people in developing countries have less experience when it comes to driving ADAS-installed cars. The performance and benefits of ADAS have prompted its sales, which is estimated to go above 90% in the coming years, thereby boosting the market growth.

Radar Sensor Garners the Highest Revenue Share in the Market By Sensor Type
Radars are used at places where the detection of sound or light reflected from objects is weak, so as to effectively detect them and subsequently warn about the imminent threat, if any. It works as an imaging system with a 360-degree view, covering a large area. The radar-based sensor systems are used in adaptive cruise control, side obstacle detection system, near-field collision avoidance systems, etc. One of the main advantages of radar sensors is their insensitivity to dirt deposits. The increasing efforts in cost reduction, energy utilization, and radar sensor size, will be effective in market growth.
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Europe Dominates the Revenue Market Share in the Global Market
The automotive manufacturers in the European region have been putting in efforts for the reduction of road fatalities through the adoption of safety, ensuring programs like eSafety Aware. There is also a high demand for safety and comfort driving and implementation of Euro-NCAP ratings for cars. Also, the technological advancements in the automotive sector of the region, along with the rising popularity of autonomous driving has fueled the adoption of ADAS in the region. It is further estimated that the growth of the ADAS European countries would be driven by the development of performance-driven cars with reduced fuel consumption and emissions.
Many market players are collaborating with OEMs from the product conception to the development of low-cost ADAS systems. There is an increasing competition in the driverless cars market, and subsequently, increased investments, all of which will contribute to the growth of the global ADAS market. Many start-ups and other mid-size companies in the automotive sectors are vying for market share. The OEMs are collaborating with semiconductor companies whose technologies accommodate their technologies for the development of ADAS.

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