ADAS Market is expected to Grow at 12.37% CAGR in Value Terms by 2027

by Mack Nene Primary & Secondry Data Consultation

The increasing preference for advanced technology vehicles among the people is expected to drive the global ADAS market through 2027.

According to TechSci Research report “ADAS Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, global ADAS market stood around USD 49.50 billion in the year 2021 and is estimated to reach USD97.49 billion in 2027 growing with a CAGR of 12.37% during the forecast period. The rising consumer’s preference for luxury and premium cars equipped with advanced safety features has made the car manufacturers introduce advanced technology in the car. With the rising concern for the environment, many countries have announced to achieve zero-emission in the upcoming years. The automotive industry is shifting towards more advanced technologies and every year they are introducing new features in the vehicle that will help at the driving time.

Different countries have planned to achieve zero-emission, such as Canada moving its 2040 goal of 100% zero-emission new light-duty cars and truck sales ahead to 2035. The Austrian government presented its Mobility Master Plan 2030, and it sets the goal to only allow the registration of new zero-emission cars and light commercial vehicles (vans) by 2030. As the governments of many countries have planned to shift toward electric vehicles, the automotive industry has also started to introduce electric vehicles with the advanced driver assistance system.

Some of the new rules and regulations have been set by governments of different countries, such as the new Chinese standards on advanced driver assistance systems is GB/T 39263-2020. The standard specifies definitions for a wide variety of different systems and is split into two categories: information assistance systems and control assistance systems. Under the information assistance system, different sub-function comes, which are driver attention monitoring systems, traffic sign recognition systems, forward collision monitoring, etc. GB/T 39265-2020; is the new Chinese standard for blind spot detection systems. These specify requirements for all M and N category vehicles, i.e., passenger vehicles and goods vehicles. The new Chinese standard on lane keep assist systems is GB/T 39323-2020, this standard covers requirements for M1 category vehicles, i.e., passenger cars and multipurpose passenger vehicles. These two new Chinese standards become effective from June 1, 2021. By seeing all rules and regulations nowadays most vehicle manufacturers have started to install ADAS or safety systems in the vehicle to provide the ultimate safety to the passengers across all segments.

Browse more than 174 market data figures and spread through 110 Pages and an in-depth TOC on “Global ADAS Market"

https://www.techsciresearch.com/report/global-adas-market/2413.html

The global ADAS market has been segmented based on vehicle type, by sensor type, by level of autonomy, and, by function, by region. In terms of vehicle type, the global ADAS market is segmented into passenger car and commercial vehicles.

In the global ADAS market, the automotive production is dominated by level 1 vehicles. Most of the vehicles produced by automotive manufacturers have a level 1 ADAS or safety system in their vehicle variants. In the level of autonomy type segment, level 1 has dominated the market with a total share of 51.33%, followed by level 2 with 46.70%.

In terms of the level of autonomy types, the global ADAS market is segmented into five different levels which are level 1, level 2, level 3, level 4, and level 5. Currently, only level 1, and level 2 types of vehicles are available in the market, manufacturers are working on the level 3 type of vehicle. Types of sensors that are available in level 1 vehicles are Ultrasound 4, Radar (LRR) 1, camera 1, and sensors available in level 2 are Ultrasound 8, Radar (LRR) 1, Radar (SRR) 4, & Camera 4. Many companies are working on level 3 ADAS or safety systems,

Mercedes-Benz has become the first company to meet the standard of level 3 ADAS or safety system. The company has announced that the automated driving technology called Drive Pilot, will be available in S-Class and EQS models in the first half of 2022. Some of the ADAS features that are going to be mandatory from 2022 for vehicles of categories M (transport of people), N (transport of goods), and O (trailers and semi-trailers) are adaptive cruise control, automatic emergency braking, driver fatigue detector, advanced driver distractive warning systems, lane-keeping system, recording devices, tire pressure, intelligent speed assistance, detection systems of vehicles and reversing camera.

As a measure to counter the spread of the COVID-19 pandemic, many countries across the globe implemented lockdowns in the second and third quarters of 2020 due to which the sales of new cars (hatchback, SUV&MPV, sedan) were very low, and consequently the demand for advanced driver assistance system in the market was down. Many automotive manufacturing plants were closed, and production was stopped for some time, due to which the supply for cars in the market was low by this the ADAS manufacturers have faced many difficulties in selling the components, sensor, and software, as the aftermarket demands for the ADAS were very low.

Some of the major companies operating in the global ADAS market include:

Continental AG
Robert Bosch GmbH
Autoliv Inc.
ZF Friedrichshafen
Delphi Automotive PLC
AISIN Corporation
HELLA Gmbh & Co. KGaA
ARM Limited
Denso corporation
Ambarella International LP
Bittium Corporation

“In 2021, Europe accounted for the largest share i.e., 40.64% in the global ADAS market. The European region is expected to maintain its dominance over the next five years reaching a market share of 41.28% by 2027. Many automotive top automotive manufacturers such as Audi, BMW, Ford-Werke GmbH, Mercedes-Benz, Opel, Porsche, Volkswagen, etc have their plants in European countries. The sales of the passenger car were declining in European countries due to the shortage of the microchip (semiconductors), and after COVID-19, the demand for cars was even lower in the market. According to the European Automobile Manufacturers’ Association (ACEA), passenger car registration will increase in 2022 with a growth of 7.9% to reach 10.5 million units. Vehicles with advanced technology and features are witnessing great demand in the market. Seeing these trends, automotive manufacturers are also introducing vehicles with advanced features such as adaptive cruise control, collision avoidance, park assistance, lane departure warning system, rear cross traffic assistance, automatic speed limit, etc. The growth of the ADAS market is expected to increase in the coming years as the sales of car will increase”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“ADAS Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, By Vehicle Type (Passenger Car, Commercial Vehicle), By Sensor Type (Radar, Ultrasonic, Camera, and Lidar), By Level Of Autonomy (Level 1, Level 2, Level 3, Level 4, and Level 5), By Function (Collision Avoidance, Adaptive Cruise Control, Lane Departure Warning System, Rear-cross Traffic Assistance, Emergency Braking, Intersection Assistance, Automatic Speed Limit, Others, & Park Assistance), By Region”, has evaluated the future growth potential of global ADAS market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global ADAS market.

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