ADAS Market

ADAS Market Size & Share - Future Growth Expectations

The global ADAS market size is projected to grow from 334 Million Units in 2024 to 665 Million Units by 2030 at a CAGR of 11.9%. Factors such as safety regulations imposed by lawmakers, including adaptive emergency braking and tire pressure monitoring systems in vehicles, technological advancement in ADAS, and rising demand for semi-autonomous and autonomous vehicles are expected to increase the demand for ADAS.

The ADAS market is poised for substantial growth in the coming years, driven by several key factors:

  • Increasing Focus on Vehicle Safety
  • Regulatory Mandates
  • Technological Advancements
  • Rising Consumer Awareness
  • Shift towards Autonomous Driving
  • Integration with Electric Vehicles (EVs)
  • Urbanization and Traffic Congestion
  • Collaboration and Partnerships
  • Cost Reductions and Mass Production
  • Emerging Markets and Infrastructure Development

To know about the assumptions considered for the study download the pdf brochure

Increasing Focus on Vehicle Safety:

  • In response to heightened concerns over road safety, there's a pronounced shift towards prioritizing vehicle safety. ADAS technologies are positioned as crucial tools in mitigating accidents and reducing fatalities on the roads.

Regulatory Mandates:

  • Governments worldwide are enacting stringent safety regulations mandating the integration of ADAS features into vehicles. This regulatory push serves as a catalyst for market growth, compelling automotive manufacturers to adhere to these standards.

Technological Advancements:

  • The relentless march of technological progress fuels the development of increasingly sophisticated ADAS systems. Breakthroughs in sensor technology, artificial intelligence, and connectivity empower ADAS solutions with advanced functionalities, captivating both consumers and OEMs.

Rising Consumer Awareness:

  • A burgeoning consumer awareness regarding the benefits of ADAS features is propelling the adoption of ADAS-equipped vehicles. Features like collision avoidance, lane-keeping assistance, and adaptive cruise control are gaining traction among consumers seeking enhanced safety and convenience.

Shift towards Autonomous Driving:

  • The trajectory towards autonomous driving is reshaping the automotive landscape, driving the demand for ADAS technologies as foundational elements for higher levels of vehicle automation. ADAS serves as a crucial stepping stone towards achieving fully autonomous driving capabilities.

 ADAS Market Share - Global Industry Landscape

  • Robert Bosch (Germany),
  • Continental AG (Germany),
  • ZF Friedrichshafen (Germany),
  • Denso (Japan),
  • Magna International (Canada).

These companies, along with several others, collectively shape the global adas industry landscape. Market dynamics are influenced by factors such as technological innovation, regulatory compliance, strategic partnerships, and market consolidation. As the demand for adas continues to rise, companies are expected to intensify their efforts to capture market share and drive innovation in adas discovery, development, and commercialization.

Robert Bosch (Germany)

  • Market Share: Robert Bosch is a leading player in the ADAS market, holding a significant share globally. The company's innovative ADAS solutions are widely adopted by automotive manufacturers and contribute to its strong market presence.

Continental AG (Germany)

  • Market Share: Continental AG is a major contributor to the ADAS market, with a notable share worldwide. The company's comprehensive portfolio of ADAS technologies and solutions positions it as a key player in the industry.

ZF Friedrichshafen (Germany)

  • Market Share: ZF Friedrichshafen holds a substantial share in the ADAS market, leveraging its expertise in automotive technology and safety systems. The company's advanced ADAS offerings contribute to its significant market presence.

Denso (Japan)

  • Market Share: Denso is a prominent player in the ADAS market, with a considerable share globally. The company's innovative ADAS solutions, backed by its strong research and development capabilities, contribute to its market leadership.

Magna International (Canada)

  • Market Share: Magna International holds a notable share in the ADAS market, offering a range of advanced ADAS technologies and solutions. The company's expertise in automotive systems and components enhances its position in the industry landscape.

Related Reports:

ADAS Market by Offering (Hardware (Camera, Radar, LiDAR, Ultrasonic, ECU), Software (Middleware, Application Software & OS)), System Type, Vehicle Type (PC, LCV, HCV), Level of Autonomy, Vehicle Class, EV type and Region - Global Forecast to 2030

ADAS Market Size,  Share & Growth Report
Report Code
AT 2068
RI Published ON
5/3/2024
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