#ADASMarket

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ADAS Market by System (ACC, AFL, DMS, NVS, IPA, PDS, TJA, FCW, CTA, RSR, LDWS, AEB, & BSD), Component (Radar, LiDAR, Ultrasonic, and Camera Unit), Vehicle (PC, LCV, Buses, & Trucks), Offering (Hardware, Software), EV and Region

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According to a study conducted recently by the strategic consulting and market research firm, BlueWeave Consulting, the global Advanced Driver Assistance Systems (ADAS) market was worth USD 25.1 billion in 2020 and is further projected to reach USD 69.4 billion by 2027, at a CAGR of16.4% during 2021-2027 (forecast period). The increasing demand for a safe, efficient, and convenient driving experience as well as the rising demand for luxury vehicles across the globe are the key factors driving the growth of the ADAS market. Additionally, theOriginal Equipment Manufacturers (OEMs) and government regulatory authorities are taking necessary steps to improve transportation by addressing major challenges like road accidents, traffic congestion, and the cost of transportation. As a result of the high scale of growth of the automotive industry, many sensor technologies are being used to make driving comfortable, luxurious, and safe.

Increasing Demand for Safety Concern Driving the ADAS Market Growth

Owing to engineering advancements and the growing need for safer technology, several features are offered by the OEMs, including Automated Emergency Braking (AEB) system, airbag system, lane departure warning system, and others. These features have greatly reduced road accidents worldwide. According to the US Department of Transportation, frontal airbags saved 50,457 lives between 1987 and 2017. As a result of the automotive industry’s explosive growth, many sensor technologies are being used to make driving more luxurious, efficient, and convenient.The growing demand for automated warning systems and collision mitigation technologies is likely to drive the advanced driver assistance system market size.

Government InitiativesAccelerating the Growth of ADAS Market

Government regulations that aim to minimize road accidents and loss of passenger lives, coupled with the growing need for Transportation Management Systems (TMS), especially across the logistic sectors are driving the demand of the automotive electronics market. Government initiatives, such as Make in India, along with factors such as prevailing low labor costs in emerging economies, have led to an increase in the production of Light Commercial Vehicles (LCVs) and passenger cars. For instance, the European Union has outlined Vision Zero, an initiative to mitigate road deaths to zero by 2050. The authority has targeted to reduce fatalities and injuries by 50% by 2030. Additionally, the National Safety Council and the National Transportation Safety Board held a roundtable discussion on July 24, 2017,on advanced driver assistance systems and how commercial fleets (heavy trucks) can increase acceptance of the life-saving ADAS technology. Such fruitful Government initiatives are playing a key role in driving the growth of the market.

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Global Advanced Driver Assistance Systems (ADAS) Market: Vehicle Insights

The passenger car segment is expected to dominate the ADAS market over the forecast period 2021-2027. Rapid urbanization and increasing consumer spending on automobiles have enhanced product demand. Rising consumer awareness concerning road safety, along with governmental regulations are a few major growth factors supporting industry demand. Additionally, several countries in Europe, North America, and the Asia-Pacific have introduced regulations that mandate the incorporation of various types of ADAS in the passenger car segment.

Impact of COVID-19 On ADAS Market

The global ADAS market has shown a sudden decline in market demand due to the COVID-19 pandemic. In terms of business and operational parameters, the pandemic has wreaked havoc on several industry players. As soon as the World Health Organization (WHO) declared the novel coronavirus (COVID-19) as a pandemic, countries across the globe were compelled to implement nationwide lockdown to prevent the spread of coronavirus. This has severely impacted manufacturing besides disrupting the supply chains. Furthermore, due to the lack of sales of automobiles, demand for ADAS has declined across the world.

The COVID-19 pandemic has severely affected the global ADASmarket. The pandemic has hindered the growth of several industries, including the automotive industry which is an end-user of ADAS. Additionally, nationwide lockdowns had a negative impact on vehicle sales, supply chain, and logistics, thereby, stifling the growth of the global ADAS market.

Global Advanced Driver Assistance Systems Market: Regional Insights

Geographically, North America dominates the overall ADASmarket and is expected to dominate the market over the forecast period, followed by Europe. The U.S is the leading country in the North American region owing to extensive research and development facilities that have made significant investments in smart automotive production methods and process automation. Also, the Asia-Pacific is projected to exhibit the fastest growth owing to rising disposable income levels, increased vehicle production in developing countries like India and China, an increase in the number of luxury vehicles in countries, thus, driving the growth of the ADAS market.

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ADAS Market - Future Growth, Comprehensive Analysis & Key Players

According to the new market research report "ADAS Market by System (ACC, DMS, IPA, PDS, TJA, FCW, CTA, RSR, LDW, AEB, & BSD), Component (Radar, LiDAR, Ultrasonic, & Camera Unit), Vehicle (PC, LCV, Bus, & Truck), Level of Autonomy (L1, L2&3, L4, L5), Offering, EV, and Region - Global Forecast to 2030", Advanced Driver Assistance System Market size is projected to grow from USD 27.0 billion in 2020 to USD 83.0 billion by 2030, at a CAGR of 11.9%.

The increasing adoption of ADAS & safety features, the focus of governments to enhance vehicle and pedestrian safety, initiatives by OEMs to provide advanced safety features, and the advent of autonomous vehicles will surge the demand for ADAS.

Vehicle production was low in April 2020 in major European countries and the US due to the ongoing COVID-19 pandemic. Earlier, the ADAS Market was expected to witness rapid growth from 2022 onward as major safety regulations are outlined to be imposed, and deployment of autonomous driving systems was planned during the same timeline. As vehicle production is suspended, any new investment for advanced technology is unlikely. OEMs and tier 1 players are either using cash reserves or acquiring funds to continue operations during the crisis. OEMs are still skeptical about the recovery of vehicle sales to 2019 levels in 2020.

The ADAS Market is dominated by global players such as Robert Bosch (Germany), Continental AG (Germany), ZF Friedrichshafen (Germany), Denso (Japan), Aptiv (UK), Valeo (France), Hyundai Mobis (South Korea), Veoneer (Sweden), Magna International (Canada).

Startups: Luminar Technologies (US), ADASKY (Israel), Bright Way Vision (Israel), TriEye LTD (Israel).

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TPMS is expected to be the largest segment in the ADAS Market

A tire pressure monitoring system (TPMS) uses sensors to detect tire pressure levels and alert the driver when the tire pressure is low. Two TPMS implementations are available: direct and indirect. Indirect TPMS uses ABS sensors to detect low tire pressure. If the pressure in a tire is dangerously low, its wheel speed will be different than the others. The ECU analyzes the rotation information and informs the driver about the low tire pressure. Direct TPMS uses different pressure monitoring sensors for individual tires. These sensors transmit the data to the ECU for analysis, and every sensor has a unique serial number. Post analysis, the system can easily identify the tire with low pressure using the serial number and display a visual warning on the dashboard.

The inclusion of TPMS is standard in all leading automobile markets such as the US, European countries, and some Asia Pacific countries. While TPMS was earlier mandated only for passenger cars in Europe, it is now to be mandatorily installed in vans, trucks, and buses by 2022. China announced that all new vehicles from 2019 would have standard TPMS, while Japan, Russia, South Korea, and Turkey have already mandated TPMS as a standard in new vehicles. Such large-scale regulation of TPMS has spiked its penetration in major automotive markets. Further growth of the TPMS segment will depend on increasing vehicle production and its implementation across all vehicle types, post-2022.

LCV segment will be a key market for ADAS

Light commercial vehicles (LCVs) are most often used for last-mile distribution and personal travel. OEMs such as Ford Motors and Nissan are offering LCVs fitted with ADAS systems. Pick-up trucks are significantly popular and a major revenue source for OEMs such as GMC and Ford in the US. These OEMs offer a wide range of these trucks to attract more consumers. They are one of the most versatile vehicles under any driving conditions, which makes them a preferred choice compared to SUVs and sedans, especially for families. OEMs are also increasing investments in this segment to include more comfort features such as those in passenger cars in the LCV segment.

An increase in safety awareness and demand for driving comfort among consumers will be prominent factors for the growth of the LCV segment in the advanced driver assistance system market. OEMs are quick to respond to trends in the LCV segment and are investing significantly to offer more features in this segment. For instance, GM announced an investment of USD 2.2 billion in its Detroit-Hamtramck assembly plant to produce all-electric trucks and SUVs. An additional USD 800 million will be invested for supplier tooling and other activities related to the launch of the new electric trucks. According to the OEM, these pick-up trucks will be in production by late 2021. More such investments in the LCV segment would create opportunities for ADAS solution providers in the LCV segment.

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Europe is expected to be the largest ADAS Market in 2020

Stringent safety regulations are expected to drive the demand for ADAS in Europe. France is one of the fastest-growing markets for ADAS in Europe. In 2018, France contributed approximately 12% to the total vehicle production in the region as per the European Automobile Manufacturers Association. Several safety mandates have been implemented by the French government. For instance, in 2015, the government made it compulsory to install automatic emergency braking (AEB) and lane departure warning (LDW) in all new heavy trucks.

The increasing production and sales of luxury vehicles due to strong economic growth play a major role in Germany. Major German OEMs such as Volkswagen and Daimler AG have incorporated advanced features to enhance the driving experience. These OEMs offer most ADAS features as standard in their premium segment vehicles. In mid-segment SUVs and sedans, essential ADAS features are offered under additional packages.

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ADAS Market by System (ACC, DMS, IPA, PDS, TJA, FCW, CTA, RSR, LDW, AEB, & BSD), Component (Radar, LiDAR, Ultrasonic, & Camera Unit), Vehicle (PC, LCV, Bus, & Truck), Level of Autonomy (L1, L2&3, L4, L5), Offering, EV, and Region

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The ADAS Market (advanced driver assistance system) is estimated to be USD 30.0 billion in 2019 and is projected to reach USD 134.9 billion by 2027, at a CAGR of 20.7% during the forecast period.  ADAS technology improves the driving experience, while enhancing the vehicle and pedestrian safety. It is becoming an integral part of modern automobiles and is being adopted in passenger cars as well as commercial vehicles.

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ADAS Market by System (ACC, AFL, DMS, NVS, IPA, PDS, TJA, FCW, CTA, RSR, LDWS, AEB, & BSD), Component (Radar, LiDAR, Ultrasonic, and Camera Unit), Vehicle (PC, LCV, Buses, & Trucks), Offering (Hardware, Software), EV and Region - Global Forecast to 2027

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[175 Pages Report] ADAS Market report categorizes the global market by System (ACC, AFL, IPA), Component (Radar, LiDAR), Vehicle (PC, LCV), Offering and Region

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The ADAS Market (Advanced Driver Assistance System Market) is estimated to be USD 20.19 billion in 2017 and is projected to reach USD 91.83 billion by 2025, at a CAGR of 20.96% from 2018 to 2025.

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ADAS Market 2025: Market Size, Market Share, Vendors and Key Regions Analysis

The ADAS Market (Advanced Driver Assistance System Market) is estimated to be USD 20.19 billion in 2017 and is projected to reach USD 91.83 billion by 2025, at a CAGR of 20.96% from 2018 to 2025. Increasing demand for safe, efficient, and convenient driving, rising disposable income in emerging economies, and growing stringency of safety regulations across the globe are playing a key role in making ADAS popular.

For effective functioning, advanced driver assistance systems require basic infrastructures such as well-organized roads, lane marking, and availability of GPS. For highways, information such as a lane change, object detection, distance between vehicles, traffic, and services such as navigation and connectivity are very important for vehicles equipped with ADAS. In developing countries like China, Brazil, and India, the development of IT infrastructure on highways is slow as compared to developed economies. Therefore, the lack of information technology communication infrastructure and lag in government norms are the major restraints for the growth of the ADAS market in developing regions.

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Government regulations pertaining to vehicle safety drives the ADAS market

Safety features have become an important prerequisite for automotive consumers across the world. Most of the accidents are caused by driver distraction or lack of concentration due to drowsiness. The Third Global Status Report on Road Safety 2015 estimated the number of road traffic deaths per year to be more than 1.2 million. The OEMs and government regulatory authorities are taking necessary steps to improve transportation by addressing major challenges such as road accidents, traffic congestion, and the cost of transportation. The governments of various countries have also made mandates for features such as LDW and AEB. Several kinds of safety features have therefore been developed to assist the driver and lower the number of accidents. For example, the Driver Monitoring System monitors the driver and alerts or warns the driver in case drowsiness and distraction are detected.

Major players profiled in the report are:

Robert Bosch (US),

ZF Friedrichshafen (Germany),

Denso (Japan),

Aptiv (UK),

Intel (US),

NVIDIA (Germany),

Continental (Germany),

Valeo (France),

Hella (Germany),

Magna (Canada),

Samsung (South Korea),

Hyundai Mobis (South Korea) and many more…

The radar sensor is the fastest growing segment of the ADAS market, by component

The increased traffic congestion, roadways infrastructure, and government regulations for vehicle safety will drive the growth of various radar-based ADAS applications. The rising trend of autonomous and semi-autonomous vehicles in the automobile industry is projected to be another major driver for the global automotive radar market.

The road sign recognition (RSR) is projected to be the fastest growing segment of the ADAS market. Increasing demand for autonomous vehicles is expected to propel the growth of RSR. Also, the increasing infrastructure activities in developed countries is expected to drive the growth of RSR market. Additionally, as most of the luxury vehicles have RSR as standard or optional feature, the rise in sales of luxury vehicles across the globe would increase the demand for RSR.

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The ADAS market has been segmented by vehicle type into passenger cars, light commercial vehicles, buses, and trucks. The passenger car is estimated to be the fastest growing segment of the ADAS Market, by vehicle type. The number of passenger cars is growing at a significant rate in the emerging economies of the Asia Pacific region. The increasing demand for passenger cars can be attributed to the rise in GDP and population of developing countries, improved lifestyle, increased purchasing power of consumers, and development of infrastructure. ADAS is provided as a standard feature in passenger cars in several countries to prevent fatalities due to accidents. For instance, the European government mandated the installment of LDWSs and AEBSs in trucks and buses in 2015.

Target Audience

Automobile manufacturers

Distributors and suppliers of ADAS

Industry associations and automotive experts

ADAS manufacturers

Automotive component manufacturers

Autonomous vehicle software providers

Electric vehicle manufacturers

Automotive technology providers

Tier 1, Tier 2, and Tier 3 suppliers

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ADAS Market - Segmentation and Analysis by Recent Trends, Development and Growth by Regions to 2025

According to the new market research report “ADAS Market by System (ACC, AFL, DMS, NVS, IPA, PDS, TJA, FCW, CTA, RSR, LDWS, AEB, & BSD), Component (Radar, LiDAR, Ultrasonic, and Camera Unit), Vehicle (PC, LCV, Buses, & Trucks), Offering (Hardware, Software), EV, and Region - Global Forecast to 2025", published by MarketsandMarkets™, The advanced driver assistance system (ADAS) market is estimated to be USD 24.24 billion in 2018 and is projected to reach USD 91.83 billion by 2025, growing at a CAGR of 20.96% during the forecast period. Stringent regulations pertaining to vehicle safety across the globe, increasing demand for a safe, efficient, & convenient driving experience, and rising sales of luxury vehicles are the key factors driving the growth of the ADAS Market. 

Browse and in-depth TOC on “ADAS Market”

108 - Tables 48 - Figures 175 - Pages

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“AEB segment to hold the largest share of the ADAS Market, by the system”

Governments of developed countries have mandated the fitment of AEB in buses & trucks. For instance, Regulation No 661/2009 of the European Parliament and of the Council (dated 13 July 2009) mandated the inclusion of the AEB system in buses & trucks. It also stipulated the standard fitment of LDW in the same vehicle categories and with the same deadlines as autonomous emergency braking systems. The system is expected to be equipped in all new commercial vehicles above 3.5 tons and buses from November 2013, and in all vehicles of these categories sold in the European Union from November 2015. In 2018, the South Korean government mandated AEB from January 2019 in all new passenger vehicles. These mandates will drive the growth of the AEB market in the near future.

“Software: The fastest growing offering type of the ADAS Market”

The software segment is estimated to be the fastest growing segment of the ADAS Market, by offering. The main purpose of the software is to communicate autonomously with other devices. The increase in software content in the advanced applications of the vehicle is expected to drive the software segment of the ADAS Market.

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“Asia Pacific: The fastest growing region in the ADAS Market”

The Asia Pacific region is estimated to dominate the ADAS Market and is projected to grow at the highest CAGR during the forecast period. Increasing demand for luxury vehicles and safety awareness among consumers would drive the growth of the ADAS Market in the region.

The report analyzes all major tier I suppliers in the ADAS Market. Robert Bosch (Germany), Continental (Germany), ZF Friedrichshafen (Germany), Intel (US), and Aptiv (UK) are some of the leading suppliers in the ADAS Market.

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