Advanced Driver Assistance System (ADAS) Market Size, By Technology (Adaptive Cruise Control, Automatic High Beam Control, Blind Spot Detection, Driver Monitoring, Forward Collision Warning, Front Lighting, Automatic Emergency Braking (AEB), Night Vision, Head-up Display (HUD), Lane Departure Warning, Park Assist, Surround View System, Traffic Sign Recognition, Tire Pressure Monitoring System (TPMS)), By Sensor (LiDAR, Infrared, Ultrasonic, RADAR, Image Sensor), By Vehicle (PCV, LCV, HCV), By Distribution Channel (OEM, Aftermarket), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

Industry Trends

Advanced Driver Assistance System Market size exceeded USD 30 billion in 2021 and is projected to expand at over 15% CAGR from 2022 to 2030. Extensive developments of autonomous mobility solutions by automotive enterprises have enabled the demand for ADAS, supporting the market growth.
 

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Core technology providers design & develop advanced technology-based software, such as machine learning, computer vision, natural language processing/generation, and augmented analytics technology, to enhance vehicle performance and customer experiences. The AI software & platform are built on one or more of these technologies, depending on the customer’s requirements.
 

The COVID-19 pandemic has negatively impacted the ADAS market progression in the automotive industry. Several factors including supply chain disruptions, chip shortage, slow growth in automotive manufacturing, and limited acceptance of EVs in developing countries are further impeding the market adoption. Raw material suppliers of ADAS are experiencing issues with business operations owing to the COVID-19 pandemic and lockdown restrictions imposed by the governments. The National Association of Manufacturers in the U.S., which represents every small & large industry in all 50 states, has stated that around 51% of the manufacturers are likely to change their operations due to the economic impact of COVID-19.
 

Rising usage of HUDs to improve driver assistance solutions will spur the market expansion

The heads-up display segment accounted for USD 1.5 billion in 2021. Growth is credited to the increasing requirements for showcasing information about the vehicle to the drivers without causing any distraction. The system enables the convenient display of information including vehicle speed, navigation, and engine rpm.
 

Several industry players are focusing on developing advanced display solutions to address the above-mentioned requirements and gain new opportunities in the market. For instance, in May 2021, Panasonic Corporation announced that Mitsubishi Outlander had collaborated with their automotive segment to integrate a large-screen windshield HUD into their new SUV. Panasonic's HUD incorporates lens design and molding methods developed for digital cameras, as well as a high-precision mirror. Such innovations will further escalate industry growth during the forecast timeline.
 

Technological advancements in image sensing technology will support the market demand

The image sensor segment valued at USD 10 billion in 2021 and is estimated to attain a 16% growth rate till 2030. This growth is attributed to the rising acceptance in surround view devices, night vision systems, blind spot detection systems, and adaptive cruise control. Sensor manufacturers prioritize continuous research & development to provide technologically advanced sensors and maintain high sector competitiveness.
 

Several industry participants are focusing on innovating new technologies to gain a high market share. For instance, in January 2021, Omnivision Technologies Inc. announced the development of automotive-grade image sensors. The company aims at expanding next-generation camera solutions for Level 3 ADAS solutions. This will provide high-definition visual inspection capabilities for the vehicles and enhance their safety. Such innovations will create lucrative growth opportunities for ADAS manufacturers.
 

Rising investment activities to increase the safety of HCVs are fueling the market adoption

The advanced driver assistance system market for HCV segment is predicted to observe a 15% CAGR to reach 1.5 million units by 2030. The market growth is credited to the growing investments in R&D activities to integrate safety systems in HCVs. Companies are emphasizing providing next-generation technologies by combining multiple solutions to improve driver safety and reduce the probability of collisions. For instance, in March 2022, VIA Technologies, Inc. introduced the Mobile360 M800 Video telematics system for trucks of different shapes & sizes. The solution comprises a front-facing ADAS camera, an interior-facing driver camera, an ultra-compact IP67-rated system, and an ADAS display.
 

Growing availability of ADAS electronic components through e-commerce is stimulating the market revenue

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The aftermarket segment held more than 7% of the ADAS market share in 2021 on account of the rising availability of aftermarket ADAS products on e-commerce platforms. Several companies including Garmin and Brandmotion are providing ADAS solutions on their online portals. For instance, in October 2021, Brandmotion partnered with DENSO Corporation to provide a one-stop solution for cities aiming to outfit cars with innovative Vehicle-to-Everything (V2X) technology. The partnership aimed to provide municipalities and government organizations with a simplified approach to vehicle integration for V2X deployment testing.
 

Rising government initiatives to boost the usage of electric vehicles in the APAC region

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The Asia Pacific advanced driver assistance system market is poised to register 17% gains through 2030. Growth is driven by the increasing government initiatives and funding activities to promote the adoption of EVs in the region. According to the Global EV Outlook Report 2021, in China, electric car sales reached 9.75 million with a total of 2.3 million compared to 5.8 million in 2020. These cars are gaining high popularity in the Chinese market because of the need for low pollution-causing vehicles.
 

Focus on new product developments and launches to gain a competitive advantage in the industry

Major participants operating in the ADAS market are Continental AG, DENSO Corporation, HARMAN International., Magna International Inc., Mobileye, Texas Instrument Incorporated, and Robert Bosch GmbH, among others. These leaders are proactively concentrating on new product developments and launches to gain a competitive advantage.
 

The research report on advanced driver assistance system market includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion from 2022 to 2030 for the following segments:

Market By, Technology

• Adaptive Cruise Control
• Automatic High Beam Control
• Blind Spot Detection
• Driver Monitoring
• Forward Collision Warning
• Front Lighting
• AEB
• Night Vision
• Head-up Display
• Lane Departure Warning
• Park Assist
• Surround View System
• Traffic Sign Recognition
• Tire Pressure Monitoring System

Market By, Sensor

• LiDAR
• Infrared
• Ultrasonic
• RADAR
• Image Sensor

Market By, Vehicle Type

• PCV
• LCV
• HCV

Market By Distribution Channel

• OEM
• Aftermarket

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Thailand
  • Indonesia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • Iran
  • Turkey
  • South Africa