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Advanced Driver Assistance Systems (ADAS) Market 2023 Size, Revenue Analysis, Sales, Share and Research Depth Study 2032

11-29-2023 09:31 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Report Ocean

Advanced Driver Assistance Systems (ADAS) Market 2023 Size,

Report Ocean, an esteemed firm specializing in comprehensive market research spanning across 150+ countries and producing an annual publication of over 100,000 reports, has recently unveiled an exhaustive research analysis and tailored strategies specifically for the "Advanced Driver Assistance Systems (ADAS) Market" industry. Developed by a proficient team of subject matter experts, seasoned researchers, and market research professionals, this report assures the utilization of precise data derived from credible sources, ensuring the highest level of forecast accuracy.

According to a recent study conducted by strategic consulting and market research firm Report Ocean, the global ADAS market was valued at USD 24.7 billion in 2020. It is projected to grow at a CAGR of 12.0% during the forecast period (2021-2027), reaching a value of USD 54.2 billion. The key drivers of this market include the growing demand for safe and convenient driving experiences, the increasing adoption of luxury vehicles, and the efforts of Original Equipment Manufacturers (OEMs) and government regulatory authorities to address challenges such as road accidents and traffic congestion. The rapid growth of the automotive industry has also led to the integration of multiple sensors to enhance driving comfort, luxury, and safety, further driving the ADAS market's growth.

Download Free Sample of This Strategic Report: https://reportocean.com/industry-verticals/sample-request?report_id=MR524

The increasing demand for safety features is a major driver of ADAS market growth. OEMs are incorporating advanced features like Automated Emergency Braking (AEB), airbags, and lane departure warning systems, which have significantly reduced road accidents worldwide. The automotive industry's technological advancements have led to the implementation of various sensor technologies that make driving safer, more efficient, and more convenient. The rising demand for automated warning systems and collision mitigation technologies is expected to drive the market size of advanced driver assistance systems.

Favorable government initiatives aimed at minimizing road accidents and enhancing road safety are accelerating the growth of the ADAS market. Governments worldwide are implementing regulations to reduce fatalities and injuries on the roads. For example, the European Union's Vision Zero initiative targets zero road deaths by 2050 and aims to reduce fatalities and injuries by 50% by 2030. Governments are also encouraging the adoption of ADAS through discussions and initiatives with commercial fleets. Such government initiatives play a crucial role in driving the market's growth.

In terms of vehicle types, the passenger car segment is expected to dominate the ADAS market during the forecast period. The demand for passenger cars is increasing due to rapid urbanization, rising consumer spending on automobiles, and growing awareness of road safety. Several countries have introduced regulations requiring the incorporation of ADAS in passenger cars, further driving the segment's growth.

Geographically, North America currently dominates the global ADAS market, followed by Europe. The United States, with its significant investments in smart automotive production methods and process automation, leads the North American market. The Asia-Pacific region is expected to witness the fastest growth, driven by rising disposable income, increased vehicle production in countries like India and China, and a growing market for luxury vehicles.

Key players in the global ADAS market include Robert Bosch, ZF Friedrichshafen, Denso, Aptiv, Brentwood Industries Inc., Enexio, Intel, NVIDIA, Continental, Valeo, Hella, Magna, Samsung, Aisin Seiki Co. Ltd, Delphi Technologies, Harman International, NXP Semiconductor, Panasonic Corporation, Hyundai Mobis, and other prominent players. These market players focus on enhancing their production capabilities, expanding their product portfolios, and gaining competitive differentiation through acquisitions, alliances, and mergers. The presence of established players in the market creates barriers to entry for new entrants due to high capital requirements.

Request To Download Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=MR524

Market Overview
Market Size & Forecast by Value, 2017-2027
By Value (USD Billion)
By Volume (Units)
Market Share & Forecast

By System
Adaptive Cruise Control (ACC)
Autonomous Park Assist
Blind Spot Detection
Driver Monitoring
Front Lighting
Automatic Emergency Braking
Night Vision
Forward Collision Warning
Lane Departure Warning
Park Assist
Surround View System
Road Sign Recognition
Tire Pressure Monitoring System

By Sensor
LiDAR
Infrared
Ultrasonic
RADAR
Image Sensor

By Vehicle
Passenger Cars
Light Commercial Vehicle (LCV)
Heavy Commercial Vehicle (HCV)

By Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Reasons to Buy:

Informed decision-making: Market research reports provide valuable insights into industry trends, customer behavior, and competitor analysis. This information can help businesses make informed decisions about product development, pricing, and marketing strategies.

Competitive advantage: By identifying market gaps and opportunities, market research reports can provide a competitive advantage that can help businesses differentiate themselves from their competitors and gain a larger share of the market.

Industry expertise: Market research reports are prepared by industry experts who have a deep understanding of the market and its dynamics. These reports provide an unbiased and objective view of the industry, which can be invaluable for businesses that want to gain a deeper understanding of the market.

Saves time and money: Conducting market research can be time-consuming and expensive. By purchasing a market research report, businesses can save time and money by accessing a comprehensive and detailed analysis of the market.

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Request full Report- https://reportocean.com/industry-verticals/sample-request?report_id=MR524

About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.

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Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 - UNITED STATES
Tel:+1 888 212 3539 (US - TOLL FREE)
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