According to a new report published by UnivDatos, the ADAS Market is expected to grow at a CAGR of around 16% from 2022-2028. The analysis has been segmented into Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Medium & Heavy-Duty Commercial Vehicles), System Type (Adaptive Cruise Control Adaptive Front Light, Automatic Emergency Braking, Blind Spot Detection, and others), Sensor Type (Image Sensing, Lidar Sensor, Ultrasonic Sensor, Infrared Sensor, Radar Sensor, and Laser); Region/Country.
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The ADAS Market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the ADAS market. The ADAS market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the ADAS market at the global and regional levels.
Market Overview
Advanced Driver Assistance Systems (ADAS) focus on the reduction of road accidents and associated casualties by helping drivers avoid collisions altogether. These systems react faster than any human, are constantly vigilant, and are already being adopted and deployed across various car segments, from premium to economy models. ADAS systems constantly monitor the vehicle’s surroundings, alert the driver of hazardous road conditions, and take corrective actions, such as slowing or stopping the vehicle.
The growing trend for improved safety in passenger vehicles is expected to accelerate the market growth, coupled with an increasing number of road casualties. For instance, according to WHO, approx. 1.3 million people die due to road accidents.
The ADAS Market is expected to grow at a steady rate of around 16% owing to the growing need for road safety and increasing government regulations.
Some of the major players operating in the market include, Aptiv Global Operations Limited, Robert Bosch GmbH, Continental AG, DENSO ADAS Engineering Services GmbH, HELLA GmbH & Co. KGaA, Microsoft Corporation, BYD Europe B.V., Changan Automobile Company Limited, SAIC Motor Corporation Limited, Qualcomm Technologies, Inc.
The global ADAS market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- On the basis of system type, the market is classified into adaptive cruise control adaptive front light, automatic emergency braking, blind spot detection, and others. The adaptive cruise control segment is expected to lead the market with a significant share during the forecast period. Adaptive cruise control systems lower the chances of collisions by controlling the speed of vehicles. Furthermore, it improves the driver’s comfort. Moreover, increased consumer preference towards luxury, and increased competition between OEMs to offer such driver assistance features.
- Based on vehicle type, the market is categorized into passenger cars, light commercial vehicles, and medium & heavy-duty commercial vehicles. During the forecast period, the passenger car segment is expected to grow with a significant CAGR. This is mainly due to the growing demand for safety systems from developing countries. Furthermore, growing consumer technological literacy is also expected to drive the market.
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Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the ADAS market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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