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Advanced Driver Assistance Systems (ADAS) Global Market Predicted to Augment and Reach over $79.47 Billion at a CAGR of 16.2% By 2028 | Autoliv Inc., Valeo SA, Aisin Corporation, Aptiv plc, Texas Instruments Inc.
Advanced Driver Assistance Systems (ADAS) Market
As per the report, the advanced driver assistance systems (adas) market size has grown rapidly in recent years. It will grow from $37.22 billion in 2023 to $43.59 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The advanced driver assistance systems (adas) market size is expected to see rapid growth in the next few years. It will grow to $79.47 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%.
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Government Regulations Mandating Adas Drive Growth In The Advanced Driver Assistance Systems Market
The increasing government regulations for mandatory ADAS implementation in vehicles are propelling the advanced driver assistance systems market. The governments across the globe are implementing mandatory ADAS inclusion regulations in the vehicle to strengthen driving convenience and safety of the drivers and commuters. For instance, in July 2022, new rules entered into force in the EU, which require new vehicles to be equipped with ADAS to improve road safety. This regulation was focused on increasing general safety of motor vehicles and protection of vehicle occupants, and vulnerable road users, in a move to decrease the number of road accidents. Therefore, the increasing regulations for mandatory implementation of ADAS in vehicles are driving the growth of advanced driver assistance systems.
Technological Advancements For Enhanced Safety And Automation
Technological advancements are a key trend gaining popularity in the ADAS market. Major companies operating in the ADAS market are focused on developing new technological solutions to strengthen their position through the implementation of next-generation ADAS technologies into their products such as sensor fusion, embedded vision, HMI, software infrastructure, and autosar. For instance, In September 2021, ZF Friedrichshafen, a German-based company, launched a high-performance Mid-Range Radar (MRR), the nextgen advancement in the ADAS tech market, which is designed to meet safety ratings and enable semi-automated driving functions. The Mid-Range Radar has modes that provide the proper resolution and range tuned for the driving situation.
The advanced driver assistance systems (adas) market covered in this report is segmented -
1) By System Type: Tire Pressure Monitoring System (TPMS), Drowsiness Monitor System, Intelligent Parking Assist System (IPAS), Adaptive Cruise Control System, Blind Spot Object Detection System, Lane Departure Warning System, Adaptive Front-lighting System, Other System Types
2) By Offering: Hardware, Software
3) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Buses, Trucks
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Major companies operating in the advanced driver assistance systems (adas) market report are Continental AG, Nippon Denso Co. Ltd., Magna International, Robert Bosch GmbH, NXP Semiconductors NV, ZF Friedrichshafen AG, Autoliv Inc., Valeo SA, Mobileye Global Inc., Hella KGAA Hueck & Co., Aisin Corporation, Infineon Technologies AG, Hyundai Precision Co. Ltd., Aptiv plc, Gentex Corporation, Texas Instruments Inc., STMicroelectronics NV, Renesas Electronics Corporation, ON Semiconductor Corp, Analog Devices Inc., Melexis NV, Ambarella Inc., Nvidia Corporation, Intel Corporation, Qualcomm Inc., Samsung Electronics Co. Ltd., LG Corporation, Panasonic Corporation, Sony Corporation, Neural Propulsion Systems Inc.
Contents of the report:
1. Executive Summary
2. Advanced Driver Assistance Systems (ADAS) Market Report Structure
3. Advanced Driver Assistance Systems (ADAS) Market Trends And Strategies
4. Advanced Driver Assistance Systems (ADAS) Market - Macro Economic Scenario
5. Advanced Driver Assistance Systems (ADAS) Market Size And Growth
…..
27. Advanced Driver Assistance Systems (ADAS) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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