Press release
Advanced Driver Assistance Systems Market Set for 10.88% CAGR Surge, Reaching USD 74.75 Billion by 2031 | SkyQuest Technology
Skyquest Technology
Advanced Driver Assistance Systems Market [https://www.skyquestt.com/report/advanced-driver-assistance-systems-market] size was valued at USD 29.70 billion in 2022 and is poised to grow from USD 32.91 billion in 2023 to USD 74.75 billion by 2031, growing at a CAGR of 10.88% in the forecast period (2024-2031).
Advanced driver assistance systems consist of various types of active and passive systems that are designed for helping the driver. These solutions will assist the driver to accomplish safety, comfort, and efficiency while driving. The systems can also improve the safety and security of the driver, passenger, and pedestrian. The systems that are included in the ADAS artificial intelligence are emergency braking, parking assist, adaptive cruise control, and lane warning departure systems, boosting the growth of the market. Furthermore, factors like rising urbanization, advancement of technology, enhancing living standard, and growth of disposable income are also positively influencing the market. ADAS also helps in minimizing traffic congestions and accidents while improving the safety and security of the vehicles. In recent times, many government facilities are also investing significantly in the adoption of advanced technologies. This will help them to develop better safety features and encourage the advancement of autonomous vehicles. Furthermore, in many regions governments have also implemented rules for car manufacturers to include advanced driver assistance systems. These solutions include various active and passive systems designed to enhance driver safety, comfort, security, and efficiency.
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Top Player's Company Profiles
* Autoliv Inc.
* Continental AG
* DENSO Corporation
* Magna International Inc.
* ROBERT BOSCH STIFTUNG GMBH (ROBERT BOSCH GMBH)
* Valeo
* NXP Semiconductors
* Panasonic Corporation
* Renesas Electronics Corporation
* Texas Instruments
* Delphi Automotive Company
* Hyundai Mobis
* Takata Corporation
* ZF Friedrichshafen
* Aisin Seiki Co., Ltd.
* Mobileye N.V
* Harman International Industries
* NVIDIA Corporation
* Hitachi Ltd.
* Stonkam Co., Ltd.
Advancement of In-Vehicle HMI Design to Enhance Safety and Security of Vehicles
The development of the market primarily depends on having a non-distraction interaction with the driver. Solutions like advanced vision systems, sensors, advances in touchscreen technology, and communication systems assist in communication with the driver when the vehicle is parked. But human and machine interface (HMI) enhances driving experience as it allows drivers to use contactless HMIs without leaving the steering wheels. Sound-powered advanced driver tracking system that utilizes eye-tracking technology is one the best contactless HMI system that is successfully replacing touch-based interfaces. ADAS has the potential and features necessary for streamlining the driving procedure and minimizing accident rates owing to advancements in sensors, HMI technology, communications, and infrastructure.
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Segments covered
Component
Processor, Hardware (Camera Units, Lidar, Radar Sensors, Ultrasonic Sensors, Ecus, Others), Sensors (Image sensor, Lidar sensor, Ultrasonic sensor, Infrared (IR) sensor, Radar sensor, and Laser), Software (Middleware, Application Software, Operating Systems), Others
Vehicle type
Passenger cars, light commercial vehicles, buses, and trucks
Autonomy
L1, L2, L3, L4, L5
Electric Vehicle Type
Battery Electric Vehicles, Fuel Cell Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles
Rapid Technological Advancements to Improve Functions and Reliability of ADAS
The latest advancements in technologies like artificial intelligence, machine learning, sensor technology, and data analysis are playing vital part in enhancing the functions and reliability of ADAS. Modern ADAS depends on the advanced sensors like radio detection and ranging (RADAR), light detection and ranging (LIDAR), ultrasonic, and camera systems. These advanced systems are utilized for collecting data about the vehicle's environment. Advanced artificial intelligence algorithms interpret this data, allowing the system to react accurate to various types of driving circumstances. Furthermore, the advent of advanced interaction technologies like vehicle-to-vehicle and vehicle-to-infrastructure also increases the efficiency of ADAS. It offers real-time traffic and environmental information, further enhancing the safety and effectiveness of these systems. With the evolution of technology, ADAS is set to become more innovative, propelling the growth of the market.
* Horizontal Robotics launched their Horizon SuperDrive in April 2024. It is a full stack AD solution that offer enhanced driving experience with more emphasis on safety, comfort, and convenience for every customer.
* Mobileye unveiled their first production-candidate hardware and software office new EyeQ 6 Lite system on-chip to its customers in April 2024. This solution will provide advanced driver assistance systems in various models.
* Genesys International developed an AI-powered navigation map in June 2024. The map is designed for the automotive and mobility markets.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/advanced-driver-assistance-systems-market
Growing Production of Technologically Advanced Vehicles
The growing production of vehicles embedded with better safety standards worldwide is propelling the advanced driver assistance market. The high usage of AI and IoT in vehicles is also encouraging automakers for developing advanced driver assistance systems. The integration of strict rule and regulations related to the vehicle safety standards is also boosting the advanced driver assistance systems. Increasing mergers and acquisitions among vehicle manufacturers for the development of autonomous driving is augmenting the ADAS market.
Related Reports:
Edge Computing Market [https://www.skyquestt.com/report/edge-computing-market]
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Contact Person: Mr. Jagraj Singh
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