Automotive ADAS Market to surpass US$ 131 billion by 2032, Says Future Market Insights, Inc.

The Automotive ADAS (Advanced Driver Assistance Systems) Market will be worth US$ 131 billion by year 2032. The market is estimated to expand at a CAGR of 9.6% over the course of the forecast period. In 2021, the ADAS market was estimated to be worth US$ 29 billion.

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.

Gain expert insights and supercharge your growth strategies. Download our market overview sample now:
https://www.futuremarketinsights.com/reports/sample/rep-gb-10914

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 ADAS 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%.

"The swift expansion of the automotive sector has resulted in an increase in car production, accelerating the growth of the advance driver assistance system market. The market will gain traction in response to the rising demand for safe care driving and implementation of regulations ascertaining improved road safety." says a Future Market Insights analyst.

Advance Driver Assistance System Market Competitive Landscape

Manufacturers in the global advance driver assistance system market are focusing on the development of new ADAS type with decreased human interference and increased accountability.

Key Companies Profiled

Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, DENSO corporation, Mobileye, Aptiv Plc, Veoneer Inc., Autoliv Inc., Valeo SA, Magna International, Aisin Seiki Co. Ltd., Panasonic corporation, Texas Instruments, NVIDIA corporation, NXP Semiconductors NV, Renesas Electronics Corporation, Intel Corporation, Hitachi, Harman International Industries

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

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports

About Future Market Insights (FMI) 

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.