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Advanced Driver Assistance System (ADAS) Market Trends

Report ID: GMI2461
Published Date: Mar 2024
Report Format: PDF

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Advanced Driver Assistance System Market Trends

The increasing integration of AI and ML algorithms into ADAS represents a significant market shift. These technologies enhance the accuracy and effectiveness of ADAS features, enabling more intelligent and autonomous driving capabilities in vehicles. For instance, in September 2023, BMW Group picked AWS as its preferred cloud supplier for its autonomous driving platform.

BMW Group intends to leverage AWS’s solutions to create its ADAS and add new features to its forthcoming cars, the "Neue Klasse". Using BMW's current cloud data hub on AWS, the new cloud-based system will employ AWS computing, generative AI, Internet of Things (IoT), ML, and storage capabilities to accelerate the deployment of highly autonomous BMW automobiles.

The market is witnessing a growing emphasis on road safety features. Automakers and technology providers are focused on developing these solutions specifically designed for reducing accidents and enhancing the overall road safety. This trend is influenced by the increasing awareness of the benefits of ADAS technologies in mitigating risks and preventing collisions, leading to a greater demand for vehicles equipped with advanced safety features to promote safer driving environments.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of advanced driver assistance system (ADAS) reached USD 38.1 billion in revenue in 2023 and is set to expand at 17% CAGR from 2024 to 2032, propelled by the proliferation of affordable sensor technology in manufacturing contributing to cost reduction.

The image sensor segment accounted for over 35% revenue share in 2023, as cameras are becoming increasingly integral for enabling features, including lane departure warning and pedestrian detection.

North America held more than 30% of the market share in 2023, owing to the stringent safety regulations, increasing consumer demand for safety features, and significant investments by automotive manufacturers and technology companies.

Some of the top companies engaged in the industry are BorgWarner, Continental, Gentex Corporation, HELLA, Magna International, Mobileye, Renesas Electronics Corporation, Bosch, VALEO, and ZF Friedrichshafen AG.