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Advanced Driver Assistance Systems (ADAS) Market Size, Share, Trends, Global Forecast by 2030

Attractive Opportunities in ADAS Market

Attractive Opportunities in ADAS Market

The ADAS market is projected to grow from USD 30.9 billion in 2022 to USD 65.1 billion by 2030, registering a CAGR of 9.7%.
The demand for Advanced Driver Assistance Systems (ADAS) is increasing quickly due to the rise in traffic accidents on a global scale. To make driving safer and cut down on accidents, automakers are heavily investing in the development of these technologies. Customers are increasingly choosing vehicles with ADAS capabilities as they become more aware of the safety advantages of these systems. The need for ADAS is being further increased by governments drafting legislation to make such systems required in vehicles.

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L1 autonomy level to be the largest market during forecast period

Level 1 is the lowest level of autonomous driving defined by the Society of Automotive Engineers (SAE). An L1 vehicle can handle either steering or control the speed, not at the same time. The driver controls most of the driving tasks, and the driver assistance system helps the driver with tasks such as lane departure warnings. ADAS features such as adaptive cruise control, lane departure warning, tire pressure monitoring systems, and adaptive front lights are considered under level 1 driving systems. As of 2022, many higher-end mid-tier passenger and luxury vehicles have level 1 autonomous features. Mercedes (Germany), for instance, since 2018 provides level 1 autonomous for its S-class passenger car. Similarly, Toyota's RAV4 has level 1 autonomous features in its 2022 model. Cars such as Jeep Wrangler 4Xe, Renault Arkana, and Nissan Qashqai are also available with level 1 autonomous systems.

Software to be the fastest growing segment during the forecast period

Increasing demand for accurate and faster object recognition will be a major growth driver for the software segment of the ADAS market. Modern vehicles are equipped with high-resolution cameras and long-range radar sensors for driver assistance. Hence, developments in image recognition technology will play a critical role in deploying these sensors in upcoming vehicles. Newer features such as pedestrian recognition, cyclist recognition, vehicle detection, driver monitoring systems, and traffic sign recognition are being tested, and plans to roll them out in more vehicles for improved occupant safety are underway. More sophisticated ADAS features would demand faster and more accurate software algorithms/platforms for detecting objects with low latency.

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Asia Pacific to be the most potential market during the forecast period

Asia Pacific is estimated to account for the largest Advanced Driver Assistance Systems market share by 2030, followed by Europe and North America. Increasing demand for a safe, efficient, and convenient driving experience; rising disposable income in emerging economies, and stringent safety regulations worldwide drive the ADAS market trends. The Asia Pacific region saw significant developments in ADAS. China has made significant advancements in developing ADAS in recent years. Some of the major ADAS system manufacturers in China are Baidu Apollo, TuSimple, Momenta, Pony.ai, Xpeng, DiDi and NIO companies like Bosch, Continental, and Aisin. Some of the top Advanced Driver Assistance Systems developers have opened industries in the country to cater to Chinese OEMs, such as BYD, Geely, Chery, FAW, and GAC. Recently, several Chinese companies, such as Baidu, Tencent, and Alibaba, have widely invested in the research and development of ADAS technology, including autonomous driving and connected cars.

Key Market Players

The Advanced Driver Assistance Systems Market is dominated by established players such as Robert Bosch (Germany), Denso (Japan), Continental AG (Germany), Magna International (US), and ZF Friedrichshafen (Germany), among others.

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