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

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).

Advanced driver assistance systems include a variety of active and passive systems designed to help the driver achieve safety, comfort and efficiency while driving and enhance driver, passenger and pedestrian safety and security effectiveness. Emergency braking, parking assist, adaptive cruise control, and lane warning departure systems are just a few of the many systems included in ADAS Artificial intelligence (AI) has driven the automotive industry high. Moreover, increasing urbanization, spreading technology, improving standard of living and increasing disposable income are positively impacting the growth of this market.

According to the National Motor Vehicle Crash Cause Survey (NMVCCS), motor vehicle crashes in the U.S. are 1.5% and over 90% are driver error. ADAS helps reduce traffic crashes and accidents and increase the safety and security of vehicles, occupants and pedestrians. Additionally, governments in various regions are spending heavily on adopting advanced technologies, developing safety features and supporting autonomous vehicles worldwide and governments have made it mandatory for car manufacturers all vehicles will include advanced driver assistance systems. Advanced driver assistance systems include a variety of active and passive systems designed to help the driver achieve safety, comfort and efficiency while driving and enhance driver, passenger and pedestrian safety and security effectiveness. Emergency braking, parking assist, adaptive cruise control, and lane warning departure systems are just a few of the many systems included in ADAS Artificial intelligence (AI) that has driven the automotive industry. Moreover, increasing urbanization, spreading technology, improving standard of living and increasing disposable income are positively impacting the growth of this market.