Global ADAS Market Growth Expected to Reach $ 28.80 Million by 2030.

According to Business Intelligence Insights Global ADAS Market is expected to grow from USD 26.80 million in 2021 to USD 51.78 million by 2030, at a CAGR of 11.60% during the forecast period 2022-2030.

Segmentation Insights:

By Type:

• Adaptive Cruise Control (ACC) category dominated the market with more than 30% of the market share
• Radar sensors category dominated the market with more than 40% of the market share

Adaptive Cruise Control (ACC) category dominated the market with more than 30% of the market share

On the basis of System, the ADAS market is segmented into Adaptive Cruise Control (ACC), Adaptive Front Light (AFL), Automatic Emergency Braking (AEB), Blind Spot Detection (BSD), Cross Traffic Alert (CTA), Driver Monitoring System (DMS), Forward Collision Warning (FCW), Intelligent Park Assist (IPA), Lane Departure Warning (LDW), Night Vision System (NVS), Pedestrian Detection System (PDS), Road Sign Recognition (RSR), Tire Pressure Monitoring System (TPMS) and Traffic Jam Assist (TJA). Due to the growing demand for premium and luxury vehicles, Adaptive Cruise Control (ACC) System will have the largest ADAS market share. It is an active safety system that controls a vehicle's acceleration and braking. The system is activated by pressing a button on the steering wheel, and it can be deactivated similarly or by manually applying the brakes. The Park assist system is the third-largest market share holder. Its low cost, simple installation process, and application in a wide range of vehicles are the primary reasons for its market dominance. The parking assistance system detects objects around the vehicle and assists the driver in parking easily. The variety of alternatives provided by OEMs and aftermarkets is propelling the growth of the park assist system market during the forecast period.

Regional Insights:

Asia Pacific dominated the market with more than 37% of the market share

Due to high vehicle sales and production in the area, as well as a considerable increase in the adoption of electric vehicles in countries such as China and Japan, Asia Pacific is expected to have the greatest market share. Automobile manufacturers intend to increase production volume and make quick technology advances in manufacturing facilities in rising markets like China and India. The governments of these countries have recognized the automotive industry's potential for expansion and have taken various steps to entice major OEMs to enter their domestic markets. High vehicle production and greater use of modern electronics in Japan, South Korea, and China are driving market expansion in Asia Pacific.

Opportunity: Emergence of autonomous vehicles

The introduction of autonomous vehicles is expected to transform commuting. ADAS technologies have significantly reduced the complexity of driving, with features such as lane monitoring, emergency braking, stability controls, and others. Autonomous vehicles rely on advanced technologies and systems such as LiDAR, radar, ultrasonic sensors, and high-definition cameras to collect data. This data is analysed by an onboard smart autonomous driving system to maneuverer the vehicle safely. Tesla, Volkswagen, Ford, General Motors, and Waymo plan to launch fully autonomous vehicles in the coming years. In March 2018, Nissan announced plans to deploy ProPILOT in 20 models by 2022. The increasing focus on autonomous driving systems would enable OEMs to incorporate more cruise control features and advanced safety systems for semi-autonomous vehicles.

Top Key Player Analysis:

The global ADAS market is dominated by major players such as Robert Bosch (Germany), Continental AG (Germany), ZF Friedrichshafen (Germany), Denso (Japan), Aptiv (UK), Valeo (France), and Magna International (Canada). These companies have secure distribution networks at a global level and offer a wide range of advanced driver assistance systems. The key strategies adopted by these companies to sustain their market position are new product developments, collaborations, and contracts & agreements.

Read our strategic analysis: https://www.businessintelligence-insights.com/reports/74/global-adas-market

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