The analysis has been segmented into Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Medium & Heavy-Duty Commercial Vehicles), System Type (Adaptive Cruise Control Adaptive Front Light, Automatic Emergency Braking, Blind Spot Detection, and others), Sensor Type (Image Sensing, Lidar Sensor, Ultrasonic Sensor, Infrared Sensor, Radar Sensor, and Laser); Region/Country.
According to a new report published by UnivDatos, the ADAS Market is expected to grow at a CAGR of around 16% from 2022-2028.
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The ADAS Market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the ADAS market. The ADAS market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the ADAS market at the global and regional levels.
Market Overview
Advanced Driver Assistance Systems (ADAS) focus on the reduction of road accidents and associated casualties by helping drivers avoid collisions altogether. These systems react faster than any human, are constantly vigilant, and are already being adopted and deployed across various car segments, from premium to economy models. ADAS systems constantly monitor the vehicle’s surroundings, alert the driver of hazardous road conditions, and take corrective actions, such as slowing or stopping the vehicle.
The growing trend for improved safety in passenger vehicles is expected to accelerate the market growth, coupled with an increasing number of road casualties. For instance, according to WHO, approx. 1.3 million people die due to road accidents.
The ADAS Market is expected to grow at a steady rate of around 16% owing to the growing need for road safety and increasing government regulations.
Some of the major players operating in the market include, Aptiv Global Operations Limited, Robert Bosch GmbH, Continental AG, DENSO ADAS Engineering Services GmbH, HELLA GmbH & Co. KGaA, Microsoft Corporation, BYD Europe B.V., Changan Automobile Company Limited, SAIC Motor Corporation Limited, Qualcomm Technologies, Inc
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The governments around the world were forced to implement lockdowns and advised citizens to practice social distancing resulted in complete shutdown of supply chains. Post covid due to the growing regulations in Europe regarding ADAS, the market is expected to recover quickly.
The global ADAS market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
Explore the Comprehensive Research Overview - https://univdatos.com/reports/adas-market
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ADAS market Geographical Segmentation Includes:
- North America (United States, Canada, and Rest of North America)
- Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
- Rest of the World
The North American region is expected to lead the ADAS market with the largest market share and is expected to maintain its domination during the forecast period. The presence of key players in the region is expected to drive the market. Furthermore, the region has developed economies such as the United States and Canada, and citizens in these countries have higher disposable income which makes Adas more accessible for them. For instance, according to Y charts, the US’s personal per capita income for September 2022 is more the 45 thousand dollars.
- On the basis of system type, the market is classified into adaptive cruise control adaptive front light, automatic emergency braking, blind spot detection, and others. The adaptive cruise control segment is expected to lead the market with a significant share during the forecast period. Adaptive cruise control systems lower the chances of collisions by controlling the speed of vehicles. Furthermore, it improves the driver’s comfort. Moreover, increased consumer preference towards luxury, and increased competition between OEMs to offer such driver assistance features.
- Based on vehicle type, the market is categorized into passenger cars, light commercial vehicles, and medium & heavy-duty commercial vehicles. During the forecast period, the passenger car segment is expected to grow with a significant CAGR. This is mainly due to the growing demand for safety systems from developing countries. Furthermore, growing consumer technological literacy is also expected to drive the market.
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