The ADAS Market (Advanced Driver Assistance System Market) is estimated to be USD 20.19 billion in 2017 and is projected to reach USD 91.83 billion by 2025, at a CAGR of 20.96% from 2018 to 2025. Increasing demand for safe, efficient, and convenient driving, rising disposable income in emerging economies, and growing stringency of safety regulations across the globe are playing a key role in making ADAS popular.
For effective functioning, advanced driver assistance systems require basic infrastructures such as well-organized roads, lane marking, and availability of GPS. For highways, information such as a lane change, object detection, distance between vehicles, traffic, and services such as navigation and connectivity are very important for vehicles equipped with ADAS. In developing countries like China, Brazil, and India, the development of IT infrastructure on highways is slow as compared to developed economies. Therefore, the lack of information technology communication infrastructure and lag in government norms are the major restraints for the growth of the ADAS market in developing regions.
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Government regulations pertaining to vehicle safety drives the ADAS market
Safety features have become an important prerequisite for automotive consumers across the world. Most of the accidents are caused by driver distraction or lack of concentration due to drowsiness. The Third Global Status Report on Road Safety 2015 estimated the number of road traffic deaths per year to be more than 1.2 million. The OEMs and government regulatory authorities are taking necessary steps to improve transportation by addressing major challenges such as road accidents, traffic congestion, and the cost of transportation. The governments of various countries have also made mandates for features such as LDW and AEB. Several kinds of safety features have therefore been developed to assist the driver and lower the number of accidents. For example, the Driver Monitoring System monitors the driver and alerts or warns the driver in case drowsiness and distraction are detected.
Major players profiled in the report are:
- Robert Bosch (US),
- ZF Friedrichshafen (Germany),
- Denso (Japan),
- Aptiv (UK),
- Intel (US),
- NVIDIA (Germany),
- Continental (Germany),
- Valeo (France),
- Hella (Germany),
- Magna (Canada),
- Samsung (South Korea),
- Hyundai Mobis (South Korea) and many more…
The radar sensor is the fastest growing segment of the ADAS market, by component
The increased traffic congestion, roadways infrastructure, and government regulations for vehicle safety will drive the growth of various radar-based ADAS applications. The rising trend of autonomous and semi-autonomous vehicles in the automobile industry is projected to be another major driver for the global automotive radar market.
The road sign recognition (RSR) is projected to be the fastest growing segment of the ADAS market. Increasing demand for autonomous vehicles is expected to propel the growth of RSR. Also, the increasing infrastructure activities in developed countries is expected to drive the growth of RSR market. Additionally, as most of the luxury vehicles have RSR as standard or optional feature, the rise in sales of luxury vehicles across the globe would increase the demand for RSR.
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The ADAS market has been segmented by vehicle type into passenger cars, light commercial vehicles, buses, and trucks. The passenger car is estimated to be the fastest growing segment of the ADAS Market, by vehicle type. The number of passenger cars is growing at a significant rate in the emerging economies of the Asia Pacific region. The increasing demand for passenger cars can be attributed to the rise in GDP and population of developing countries, improved lifestyle, increased purchasing power of consumers, and development of infrastructure. ADAS is provided as a standard feature in passenger cars in several countries to prevent fatalities due to accidents. For instance, the European government mandated the installment of LDWSs and AEBSs in trucks and buses in 2015.
Target Audience
- Automobile manufacturers
- Distributors and suppliers of ADAS
- Industry associations and automotive experts
- ADAS manufacturers
- Automotive component manufacturers
- Autonomous vehicle software providers
- Electric vehicle manufacturers
- Automotive technology providers
- Tier 1, Tier 2, and Tier 3 suppliers