Press release
Advanced Driver Assistance Systems Market to Grow at a Phenomenal CAGR during the Forecast Period 2024-2033
Advanced Driver Assistance Systems Market
The advanced driver assistance systems market has a wide range of active and passive systems designed to assist the driver by providing comfort, safety, and efficiency while driving. It promotes the safety of the driver, pedestrian, and passenger. It has multiple features like sensors, cameras, radars, and software that helps in function.
The emergency braking, park assist, adaptive cruise control, blindspot detection, and lane warning departure system are a few systems included in the ADAS. Artificial intelligence has taken the advanced driver assistance system market to the next level. The expansion in industrialization and urbanization, rise in disposable income, and improving living standards are impacting the advance driver assistance system market positively during the predicted period.
The global Advanced Driver Assistance Systems (ADAS) Market is estimated to grow from $ 33517.57 billion in 2024 to $ 85915.2 billion in 2032 at a CAGR of 12.48 %. The global pandemic Covid-19 has been unusually shocking and unexpected, with clear aligners witnessing a negative stock demand across the regions.
ADAS encompasses a wide range of features, including lane departure warning, adaptive cruise control, automatic emergency braking, parking assistance, and more. As automakers integrate these technologies into their vehicles, the Advanced Driver Assistance Systems Market is experiencing substantial growth, driven by consumer demand for safer and more convenient driving experiences.
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Market segmentation
By technology
The advanced driver assistance systems market is segmented into the following categories based on technology:
Heads-up display
Blindspot detection
Drowsiness motor
Protecting pedestrians
Smart part assistance
Adaptive cruise control
Others
By car type
This segment can be divided into the following categories:
Passenger cars
Commercial cars
By sensor type
This segment can be divided into the following categories:
Ultrasonic sensor
Lidar sensor
Camera sensor
Radar sensor
Regional analysis
The advanced driver assistance systems market can be grouped into the following regions:
North America
Asia-Pacific
The European Union
The Rest of the World
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The North American region is expected to enjoy the largest market share for the time period that this report covers. This region has a world-class infrastructure. Also, some of the largest and most technologically advanced car manufacturers are located here. Road accidents have been on the rise in this region in recent years. Hence, the public and governments have been pushing for more research in the area of smarter and safer cars. Most people in this region are willing to pay a premium for these types of cars.
The Asia-Pacific region is projected to register the highest CAGR for the time period that this report covers. Almost all of the economies in this region are growing rapidly. Hence, there is a rapidly expanding middle class that's quickly growing wealthier. Since purchasing power is growing rapidly and more people in this region want to drive safer motor vehicles, it makes sense that demand for these types of cars with this type of technology is growing at breakneck speed.
Industry news
ZF Friedrichshafen AG continues to innovate in ADAS, with a focus on autonomous driving and integrated safety technologies. The company has been working on enhancing its vehicle automation systems, particularly through radar and camera systems, to improve lane-keeping assistance, collision avoidance, and adaptive cruise control. ZF's focus on electric vehicle integration further strengthens its position in the ADAS market.
Denso Corporation is also a major player, contributing to the development of ADAS solutions through advancements in sensor technology and vehicle communication systems. The company is particularly invested in V2V (vehicle-to-vehicle) and V2X (vehicle-to-everything) communication, which is critical for enabling advanced safety features. Denso's collaboration with automakers and tech firms positions it as a leader in the push toward autonomous driving.
Market key players:
ZF Friedrichshafen AG
Denso Corporation
Continental AG
Garmin Ltd.
Valeo S A
Hyundai Mobis
Borge Warner, Inc.
Robert Bosch GmbH
Mobileye
Magna International, Inc.
Infineon Technologies AG
Autoliv, Inc.
Delphi Technology
Semiconductor Components Industries, LLC
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