ADAS Market by System, Component, Vehicle Type, EV Type, Vehicle Class, Level of Autonomy, Offering, Sales Channel and Regional Competitive Landscape

"Stringent vehicle safety regulations are driving the growth of the ADAS market."

The global ADAS market size is projected to grow from USD 27.2 billion in 2021 to USD 74.9 billion by 2030, at a CAGR of 11.9%.Safety features are an important prerequisite for automotive customers across the world. Governments across the world have mandated the incorporation of features such as lane departure warning (LDW) and automatic emergency braking (AEB). Different types of safety features have, therefore, been developed to assist drivers and lower the number of accidents.

"Growing demand for safety and driving assistance systems likely to drive the growth of the ADAS market during the forecast period"

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The automotive industry is witnessing a rapid evolution of safety features, which is expected to increase exponentially in the coming years to provide a safer and more convenient driving experience. Major OEMs such as Toyota and Honda are launching vehicles with features such as blind spot detection, rear cross traffic, lane keep assist, forward collision warning, and automatic emergency braking as a standard. OEMs such as Cadillac, Tesla, Nissan, Honda and Audi are currently developing L3 driving systems for their upcoming models. The increasing demand for sophisticated cruise control and driving comfort features has also fueled the safety systems market. Transforming a vehicle into a self-driving one could help reduce errors caused by drivers. As per the NHTSA, the total number of fatalities due to road accidents in the US was 38,680 36,560 in 202018. ADAS could play a crucial role in reducing this number and lead to a safe, productive, and efficient driving experience. Active safety systems such as blind spot detection (BSD), automatic emergency braking (AEB), and lane departure warning (LDW) play a major role in automated driving technology today.

Demand for luxury vehicles will further strengthen the demand for ADAS during the forecast period. Several economies around the world have recovered from the 2008 recession. Higher growth rates have been observed in developing countries such as China and India, among others. The standard of living has also improved in developing countries, along with a considerable rise in spending power. German auto brands such as Mercedes-Benz, BMW, and Audi dominate the global luxury car market. The change in consumer preferences has increased the demand for better products, which has positively affected the sales of premium cars across the globe. For instance, major BMW's automotive division recorded growth in 2019, despite the slowdown in the global automotive market. The division registered a growth of 6.8% in 2019 due to increasing deliveries in the luxury cars segment. Its subsidiary, Rolls Royce, sold 5,100 units, an increase of 21.6%, compared to 4,194 units, a year earlier, while the production volume increased by 25.3%. Similarly, the group sold more BMW branded vehicles in 2019 than in 2018. Safety innovations are first introduced in the luxury and premium car segments, and this rise in sales will act as a driver for the ADAS market.

Advanced Driver Assistance Systems (ADAS) are revolutionizing the driving experience by integrating cutting-edge technology into vehicles to enhance safety and convenience. These systems utilize sensors, cameras, and artificial intelligence to assist drivers in various aspects of driving, paving the way towards a future of autonomous vehicles.

ADAS features encompass a range of functions, from collision avoidance and lane departure warnings to adaptive cruise control and automatic parking. These capabilities work together to reduce the risk of accidents, mitigate human errors, and ultimately save lives.

One of the most significant benefits of ADAS is its potential to improve road safety. By providing real-time data and alerts, ADAS helps drivers make informed decisions, react quickly to potential hazards, and maintain better control of their vehicles. As a result, the frequency and severity of accidents can be significantly reduced.

Moreover, ADAS contributes to greater driving convenience and efficiency. Features like adaptive cruise control and traffic jam assist alleviate the stress of monotonous commutes, while automatic emergency braking adds an extra layer of protection in critical situations.

As technology continues to advance, ADAS is evolving towards full autonomy. While the journey to fully self-driving vehicles is ongoing, ADAS systems serve as stepping stones, gradually acclimating drivers and society to the possibilities and benefits of autonomous transportation.

In conclusion, Advanced Driver Assistance Systems represent a transformative leap in automotive safety and functionality. By enhancing driver awareness, responsiveness, and control, ADAS paves the way for a future where accidents are minimized, road congestion is reduced, and driving becomes not only safer but also more enjoyable.

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