Press release
ADAS Aftermarket is slated to be worth US$ 2.78 Billion by 2033
ADAS Aftermarket
ADAS Aftermarket is expected to reach US$ 2.78 Billion by 2033, growing at a CAGR of 9.1% from 2023 to 2033. This report explores the historical growth of the ADAS aftermarket and its current market size. It includes a regional analysis to identify the market's geographical distribution. Factors contributing to market growth are discussed, along with future market trends.
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The Global Advanced Driver Assistance Systems (ADAS) aftermarket has emerged as a thriving market catering to the demand for retrofitting ADAS functionalities in existing vehicles. This research aims to provide a comprehensive analysis of the global ADAS aftermarket, including its significance, market segmentation, growth drivers, challenges, competitive landscape, regional analysis, and future prospects.
The introduction provides an overview of ADAS, distinguishing between OEM-installed ADAS and aftermarket ADAS. It highlights the importance of the ADAS aftermarket as a means to enhance vehicle safety and convenience.
Growth Drivers and Challenges:
The growth drivers section explores factors such as increasing consumer awareness of ADAS benefits, government regulations mandating ADAS installation, growing demand for vehicle safety and comfort, technological advancements, and decreasing costs.
The challenges section addresses issues related to compatibility, integration, and the lack of standardized retrofitting procedures.
Market Key Players:
• Robert Bosch GmbH
• Continental AG
• ZF Friedrichshafen AG
• Denso Corp.
• Aptiv plc
• Valeo SA
• Magna International Inc.
• Veoneer Inc.
• Aisin Corporation
• Hitachi Astemo, Ltd.
• Nidec Corporation and more
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Competitive Landscape:
Some of the key developments are:
• For the new Lexus LS and Toyota Mirai, Denso Corporation created sophisticated driver assistance devices in April 2021.
• A joint venture agreement was announced in September 2021 by Continental AG and Beijing Horizon Robotics Technology R&D Co., Ltd.
Market Segmentation:
By System Type -
• Adaptive Cruise Control
• Adaptive Front Light
• Automatic Emergency Braking
• Blind Spot Detection
• Driver Monitoring Systems
• Forward Collision Warning
• Lane Departure Warning / Lane Keep Assist
• Park Assist
• Tire Pressure Monitoring Systems
• Night Vision Systems
By Technology
• Ultrasonic Sensors
• Lidar Sensors
• Radar Sensors
• Camera Sensors
• Infrared Sensors
• Pressure Sensors
By Vehicle Type
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
By Sales-Channel
• OES (Original Equipment Suppliers)
• IAM (Independent Aftermarket)
By Region
• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa
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Future Outlook:
This report discusses emerging trends in the ADAS aftermarket, potential growth opportunities, and challenges. It explores the impact of autonomous vehicles on the aftermarket and highlights technological advancements that are expected to shape the future of the market.
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