Advanced Driver Assistance System ADAS Market Size, Share & Trends Analysis Report 2020-2027
The global advanced driver assistance system (ADAS) market was estimated at USD 29.85 Billion in 2019 and it is anticipated to reach USD 128.52 Billion by 2027 as per the new intelligence report published by UpGraph market research & consultancy. The market is expected to grow at a CAGR of 13.5 % over the forecast period. statistics that are gathered through intense primary and secondary research.
Growing demand for driving safety and stringent government regulations to reduce on-road accidents is expected to boost the ADAS market growth between 2020 to 2027. 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.
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 the market growth.
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 2019, as governments of various countries have mandated these systems in commercial vehicles in order to reduce on-road accidents.
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.
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 2027, 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.
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-2020 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.
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.
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 in research and development activities to improve accuracy and to reduce the unit costs of ADAS. New product development, existing product up-gradation, collaboration are a few key strategies adopted by companies in this industry to gain maximum market share.
|Base year for estimation||2019|
|Historical years||2017 – 2019|
|Forecast period||2020 – 2027|
|Data representation||Revenue in USD Billion, and CAGR from 2017 to 2027|
|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.|
For the purpose of this study, the ADAS market has been segregated into the following key segments.
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