Advanced Driver Assistance System ADAS Market size worth $82.50 billion by 2027 | CAGR: 11.6%

ADAS Market Overview 2020-2027

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Advanced Driver Assistance System (ADAS) Market Growth & Trends

The  Advanced Driver Assistance System (ADAS) Market size is expected to reach $82.50 billion by 2027, growing at a CAGR of 11.6% between 2020 to 2027 as per the new research report published by Confianza Market Research & Consultancy. ADAS or Advanced Driver Assistance Systems is the technology that is used to boost the safety of the vehicle and automate the vehicle.

This technology provides signals to the driver if there is some issue with road conditions and avoid accidents. Advanced Driver Assistance Systems help to separate different vehicles from each other by using NVIDIA AI solutions, for example, it helps to separate the police car from taxi or an Ambulance from the delivery truck.

The overall industry will be expected to have an impact over the next seven years due to the growing adoption of ADAS technologies in vehicles such as night vision, drowsiness monitoring, and road sign recognition system. Also, the demand for the traditional ADAS systems will exponentially grow in the near future due to the increasing safety rules by the government to avoid road accidents and road safety.

The big advantage of this technology is it takes control from humans and perform the difficult task easily like cruise control or overtaking and parking. Also, another advantage of this technology is it communicate between different vehicles and exchange the information for better planning and decision making.

This market has high potential growth, however, due to its high-cost systems indirectly it increases the overall cost of the car, hence the owner of the car will not prefer to procure this type of car. Additionally, lack of knowledge among the car owners will also decrease the market growth. There will be significant growth in the MEA market for this technology by 2027.

The Asia Pacific is region is the leading player of the hardware manufacturer and exporter of ADAS, so it considerably holds global market share. The European government has announced that every new vehicle should be implemented such kinds of technology and they have defined 19 safety measures, however, such kinds of changes would not come into reality till early 2020 by the Europe government.

Advantages of ADAS-

  • Helps to drive down costs
  • Improves road safety for everyone
  • Autonomous Emergency Brake
  • Electronic Brakeforce Distribution
  • Adaptive Cruise Control
  • Lane Departure Warning
  • Parking assistance technologies
  • Intelligent Speed Assistance

 

ADAS Market Segmentation

For the purpose of this study, the ADAS market has been segregated into the following key segments.

  • ADAS Solution Type Insights (Revenue, USD Million, 2017 – 2027)
    • Adaptive Cruise Control
    • Blind Spot Detection System
    • Park assistance
    • Lane Departure Warning System
    • Tire Pressure Monitoring System
    • Autonomous Emergency Braking
    • Adaptive Front Lights
  • ADAS Component Type Insights (Revenue, USD Million, 2017 – 2027)
    • Processor
    • Sensors
    • Software
    • Others
  • ADAS Vehicle Type Insights (Revenue, USD Million, 2017 – 2027)
    • Passenger car
    • Commercial vehicle
  • ADAS Regional Insights (Revenue, USD Million, 2017 – 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • UK
      • Germany
      • France
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Taiwan
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa
      • UAE
      • KSA
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