Advanced Driver Assistance (ADAS) Market Overview
The global advanced driver assistance system (ADAS) market was estimated at USD 29.85 Billion in 2018 and it is anticipated to reach USD 125.5 Billion by 2025 as per the new intelligence report published by Confianza market research & consultancy. The report incorporates advanced driver assistance systems market statistics that are gathered through intense primary and secondary research.
Growing demand for driving safety and stringent government regulations to reduce on-road accidents are expected to boost the ADAS market growth between 2019 to 2025. The introduction of advanced technologies such as augmented reality (AR) and machine learning is further growing the advanced driver assistance system (ADAS) market. There is an increasing trend for vehicle production and sales in developing countries such as China, India, Brazil, and Taiwan, which further increases demand for ADAS in the regional market.
Global advanced driver assistance system market, 2018 & 2025, USD Billion
There is considerable growth in demand for vehicle safety features as the number of on-road accidents has grown significantly in the last few years. Manufacturers are considering standard fit ADAS systems such as adaptive cruise control, lane departure warning system into their top and mid-range models. Additionally, lowering prices of aftermarket ADAS is projected to further boost market growth.
System Type Outlook
The market is segmented based on the system type into adaptive cruise control, autonomous emergency braking, lane departure monitoring system, adaptive front lights, blind spot detection, tire pressure monitoring system, park assistance, and others. The adaptive cruise control system accounted for the largest market share in 2018, as governments of various countries have mandated these systems in commercial vehicles in order to reduce on-road accidents.
Global advanced driver assistance system market segmentation
The tire pressure monitoring system is anticipated to gain significance in the upcoming years, as the aftermarket prices for TPMS has decreased significantly since the last few years. Park Assistance system is the most popular system used across the globe, the system is low cost thus has a high adoption rate compared to other systems.
Component Type Outlook
The market is segmented based on the component type into the processor, sensors, and others. Sensors are the key component in ADAS, there are different types of sensors used in these systems such as RADAR, Lidar, Ultrasonic, Camera among others. The Lidar sensor market is anticipated to gain significant growth by 2025, as the automotive industry is moving towards self-driving vehicles.
The Ultrasonic and Camera sensors are the most widely used sensors for ADAS. These sensors are primarily used in the park assist system, lane departure warning system, and adaptive cruise control. Intel Corporation has recently collaborated with different companies for their ECU consolidation project, the company is trying to reduce the number of ECUs used for each separate ADAS currently in order to reduce prices and improve the accuracy of ADAS.
Vehicle Type Outlook
The market is segmented based on the vehicle type into passenger cars, Light Commercial Vehicles (LCV), and Heavy Commercial Vehicle (HCV). The heavy commercial vehicle segment that includes trucks, buses, and other heavy vehicles is expected to grow at the highest CAGR over the forecast period as the European Union has mandated fitting of ADAS such as Adaptive Cruise Control and Automated Emergency Brakes in all HCV.
Declining demand for passenger cars in mid-2019 owing top global economic slowdown has affected the market significantly, however, the passenger cars still hold a maximum market share for ADAS. The light commercial vehicle segment shall moderately perform over the forecast period, the growth may increase if the industry offering and demand increase over the forecast period.
Global advanced driver assistance system market report overview
The market is bifurcated based on the region into North America, Europe, Asia Pacific, and LAMEA. Europe is the largest manufacturer of passenger cars & commercial vehicles are leading the market with greater than 30% market share in 2018, however, the market is slightly affected by political & economic situations such as BREXIT and Increasing raw material prices.
The MEA region is projected to gain significant market share by 2025, as the demand for luxury passenger cars is growing steadily in the region. Asia Pacific is the leading ADAS hardware manufacturer and exporter, thus holds considerable global market share.
Advanced Driver Assistance System (ADAS) Market Share Analysis
Companies such as Robert Bosch, Mobileye N.V., Autoliv Inc, Aptiv, ZF Friedrichshafen, Magna International, Intel Incorporation accounted for maximum market share in 2018. Companies around the world are investing on research and development activities to improve accuracy and to reduce the unit costs of ADAS. New product development, existing product upgradation, collaboration are a few key strategies adopted by companies in this industry to gain maximum market share.
ADAS Market Report Features
|Base year for estimation||2018|
|Historical years||2015 – 2018|
|Forecast period||2019 – 2025|
|Data representation||Revenue in USD Billion, and CAGR from 2017 to 2025|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Country scope||U.S., Canada, Germany, United Kingdom, China, India, Japan, Brazil, Mexico.|
|Report coverage||· Revenue estimates & forecast|
· company shares
· competitive landscape
· growth factors and trends
|20% Free pre-sale customization||We can provide you additional data as per your requirement as a part of customization along with the standard report.|
Key factors influencing the global Advanced Driver Assistance (ADAS) Market
- Growing demand for driving safety features
- Stringent on-road safety rules and regulations
- Growing demand for driving comfort & convenience.
- High initial cost and complex structure
- Lower efficiency in bad weather conditions
- Growing demand for electric vehicles
- The advent of the multifunctional system