Advanced Driver Assistance System (ADAS) Market by System (Intelligent Park Assist (IPA), Adaptive Front Light (AFL), Adaptive Cruise Control (ACC), Automatic Emergency Braking (AEB), Blind Spot Detection (BSD), Driver Monitoring System (DMS), Cross-Traffic Alert (CTA), Road Sign Recognition (RSR), Night Vision System (NVS), and Tire Pressure Monitoring System (TPMS)), Component (Lidar Sensor, Camera Unit, Ultrasonic Sensor, and Radar Sensor), Offering (Software and Hardware), Vehicle Type (Light Commercial Vehicles, Passenger Cars, Buses, and Trucks) - Global Analysis & Forecast 2019-2030
Report ID : 239 | Published Date : Jun 2020 | Pages : 180 | Region : Global | Report Code : ICT-21
Advanced Driver Assistance System (ADAS) Market Introduction & Overview
Advanced Driver Assistance Systems (ADAS) are intelligent systems installed inside vehicles to assist drivers in a variety of ways. They help to avoid drifting into adjacent lanes or making unsafe lane changes, blind-spot monitoring and provide forward-collision warnings. These systems come equipped with automatic vision systems, sensors, radar wireless connectivity, and automotive HMI design, among others. ADAS has the potential to prevent road crashes or at least lessen the severity of crashes when they are unavoidable. The key market players are entering into agreements to expand their product portfolio, increase customer offering, and create healthy market opportunities. For instance, in September 2019, StradVision Inc., a developer of vision processing technology for autonomous vehicles, partnered with a leading European OEM and a South Korean Tier 1 supplier on a front-camera project. The company has also announced its partnership with a leading global Tier 1 supplier to develop technology for Level 4 autonomous buses in November 2019.
Stringent government regulations related to vehicle safety, the growing demand for luxury cars coupled with increasing income and changing lifestyles will drive ADAS market growth during the forecast period. Furthermore, increased traffic congestions and the rising demand for safe, efficient, & convenient driving experiences are expected to propel market growth. However, high installation costs are likely to restrain market growth to a certain extent.
The ADAS market can be segmented into the following categories - System, Component, Offering, Vehicle Type, and Region.
ADAS Market by System
Based on system, the ADAS market is segmented into Intelligent Park Assist (IPA), Adaptive Front Light (AFL), Adaptive Cruise Control (ACC), Automatic Emergency Braking (AEB), Blind Spot Detection (BSD), Driver Monitoring System (DMS), Cross-Traffic Alert (CTA), Road Sign Recognition (RSR), Night Vision System (NVS), and Tire Pressure Monitoring System (TPMS). The Automatic Emergency Braking (AEB) segment is estimated to account for the largest market share globally. AEB helps to avoid accidents by identifying critical situations early and warning the driver. Furthermore, governments in several developed countries have mandated the installation of AEB in buses & trucks. In case of emergency, these systems automatically take control to slow or stop vehicles, dodge crashes or reducing its severity at least when they are unavoidable.
ADAS Market by Component
Based on component, the market can be segmented into a LiDAR sensor, camera unit, ultrasonic sensor, and radar sensor. In terms of market share, the radar sensor segment is estimated to account for the largest market share owing to applications such as blind-spot monitoring, collision warnings & mitigation, and object detection, among others.
ADAS Market, By Offering
Based on offering the market can be classified into software and hardware. The software segment will grow at the fastest rate during the forecast period owing to its ability to establish effective communication autonomously with other devices.
ADAS Market, By Vehicle Type
Based on vehicle type the market can be classified into light commercial vehicles, passenger cars, buses, and trucks. The passenger car segment is projected to grow at the fastest rates during the forecast period owing to rapid urbanization, increasing income, and changing lifestyle coupled with the growing need for passenger’s comfort.
ADAS Market by Regions
Based on region, the global ADAS market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America holds the largest share in the ADAS market owing to the availability of well-developed infrastructure, the presence of key vendors and favorable policies of governments in the region. Asia Pacific is expected to witness the highest CAGR owing to technological advancements, improving IT infrastructure, and government initiatives for AI technology adoption.
ADAS Market Prominent Players
Some of the key players operating in the global ADAS market include Robert Bosch GmbH, DENSO CORPORATION, ZF Friedrichshafen AG, Delphi Technologies, Continental AG, Valeo, NVIDIA Corporation, Magna International Inc., HYUNDAI MOBIS., and HELLA GmbH & Co. KGaA, among others.