Global Advanced Driver Assistance Systems Market

Advanced Driver Assistance Systems Market Size, Share, Growth Analysis, By Component(Processor, Hardware (Camera Units, Lidar, Radar Sensors), By Vehicle type(Passenger cars, light commercial vehicles, buses, and trucks), By Electric Vehicle Type(Battery Electric Vehicles, Fuel Cell Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45A2350 | Region: Global | Published Date: July, 2024
Pages: 196 | Tables: 95 | Figures: 76

Advanced Driver Assistance Systems Market Regional Insights

North America holds the largest market share of 32.9% by 2022. The growth in this region was driven by technological advancements in the automotive industry, key players in this sector and also, the adoption of new technologies size and improving economic conditions. In this region, increasing mortality rates in countries such as Canada and USA and increasing sales of premium cars are also driving the market growth.

Asia-Pacific region is expected to hold the largest market share due to high auto sales and production and significant increase in the adoption of electric vehicles in China and Japan Automotive OEMs in emerging economies such as China, India, and etc. plans to expand their product development, lawmakers are eager to mandate the use of ADAS features in new vehicles. For example, India’s Union Minister Nitin Gadkari recently announced that India is planning to introduce adaptive cruise control in all vehicles that will be presented at the 2022 SIAM Annual Meeting.

Advanced Driver Assistance Systems Market Report Snapshots

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Global Advanced Driver Assistance Systems Market size was valued at USD 32,938.4 million in 2022 and is poised to grow from USD 43,685.8 million in 2023 to USD 133,402.9 million by 2031, growing at a CAGR of 12.7% in the forecast period (2024-2031).

The competitive environment of the Global Advanced Driver Assistance Systems Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options. 'Autoliv Inc.', 'Continental AG', 'DENSO Corporation', 'Magna International Inc.', 'ROBERT BOSCH STIFTUNG GMBH (ROBERT BOSCH GMBH)', 'Valeo', 'NXP Semiconductors', 'Panasonic Corporation', 'Renesas Electronics Corporation', 'Texas Instruments', 'Delphi Automotive Company', 'Hyundai Mobis', 'Takata Corporation', 'ZF Friedrichshafen', 'Aisin Seiki Co., Ltd.', 'Mobileye N.V', 'Harman International Industries', 'NVIDIA Corporation', 'Hitachi Ltd.', 'Stonkam Co., Ltd.'

The growth of the market ultimately depends on having a non-distraction interaction with the driver. Advanced vision systems, sensors, advances in touchscreen technology and communication systems help facilitate communication with drivers and passengers when parked but it appears that improvements in vehicle design between human and machine interface (HMI) to enhance the driving experience is the most promising feature. Driver interface systems allow drivers to use contactless HMIs without having to leave the steering wheel. Sound-powered advanced driver tracking systems that use eye-tracking technology are some contactless HMI systems that replace touch-based interfaces for example, Texas Instruments' Digital Light Processing (DLP) chips Head-up Imaging devices with Displays (HUD) project images with high contrast. This helps drivers stay focused on the road. ADAS has the capabilities and features needed to streamline the driving process and reduce accident rates thanks to rapid advances in sensors, HMI technology, communications and infrastructure.

Increasing Integration of AI and Ml Algorithms: The increasing integration of AI and ML algorithms into ADAS represents a major market shift. This technology improves the accuracy and efficiency of ADAS features, enabling more intelligent and autonomous driving. For example, in September 2023, the BMW Group selected AWS as its cloud provider of choice for its autonomous driving platform. The BMW Group intends to use the AWS solution to develop its own ADAS and add new features to its upcoming "Neue Klasse" vehicles. Leveraging BMW's existing cloud data hub on AWS, the new cloud-based system will leverage AWS computing, generative AI, Internet of Things (IoT), ML, and storage capabilities to run BMW vehicles rapidly maximizes itself.

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Advanced Driver Assistance Systems Market Regional Insights

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