Advanced Driver Assistance System (ADAS) Market Size By Technology (Adaptive Cruise Control, Automatic High Beam Control, Autonomous Park Assist, 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), By Sensor (LiDAR, Infrared, Ultrasonic, RADAR, Image Sensor), By Vehicle (PCV, LCV, HCV), By Distribution Channel (OEM, Aftermarket), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Published Date: Jul 2019 | Report ID: GMI2461 | Authors: Ankita Bhutani
Advanced Driver Assistance System Market size valued at USD 32.5 billion in 2018, is estimated to exhibit over 12% CAGR from 2019 to 2025.
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Rising preferences for advanced sensing systems in automobiles to avoid road accidents will drive the advanced driver assistance system market growth. According to the World Health Organization (WHO), the annual road traffic deaths accounted for over 1.35 million across the globe. Increasing consumer awareness pertaining to vehicle safety and security is encouraging automobile manufacturers to incorporate ADAS in vehicles. Stricter government regulations pertaining to vehicle safety, including the mandatory fitment of safety technologies including parking sensors and AEB are positively influencing the industry size.
Increasing passenger safety concerns with surge in traffic accidents is escalating the advanced driver assistance system market size. The incorporation of multiple technologies including collision avoidance systems, lane departure warning systems, blind spot detection, and pedestrian crash avoidance mitigation systems play a major role in lowering the probabilities of accidents, thereby supporting industry expansion over the forecast timeframe.
Automobile manufacturers including Mercedes, Volvo, Audi, and Skoda, among others are offering in-built safety systems to differentiate their vehicle portfolio and increase the revenue share. Advanced features including blind spot detection, intelligent park assist systems, image sensors, and surround view cameras are significantly contributing toward increasing the advanced driver assistance system (ADAS) market share. Further, the availability for driver assistance to operate repetitive and complex tasks for minimizing human errors is providing a positive outlook for industry growth.
The proliferating vehicle demand owing to the rising per capita and disposable income is augmenting advanced driver assistance system market size. Increasing demand for premium passenger vehicles with standard fitment of ADAS technologies is expanding the product demand. Industry players are investing in R&D to reduce the overall product cost and increase the system efficiency. The incorporation of the technology in budgeted passenger vehicles will require mass production of components, which in turn will reduce the overall cost.
|Base Year:||2018||Market Size in 2018:||32.5 Billion (USD)|
|Historical Data for:||2014 to 2018||Forecast Period:||2019 to 2025|
|Forecast Period 2019 to 2025 CAGR:||12%||2025 Value Projection:||74.5 Billion (USD)|
|Pages:||423||Tables, Charts & Figures:||531|
|Geographies covered (22):||U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, India, South Korea, Thailand, Indonesia, Australia, Brazil, Mexico, Argentina, Turkey, Iran, South Africa|
|Segments covered:||Technology, Sensor, Vehicle, Distribution Channel and Region|
|Companies covered (20):||Aisin Seiki Co. Ltd, Autoliv Inc., Bosch Group, Continental AG, Delphi Technologies, Denso Corporation, Gentex Corporation, Harman International, Hella GmbH & Co. KGaA, Hyundai Mobis, Joyson Electronics, Magna International Inc, Mobileye, NVIDIA Corporation, NXP Semiconductor, Panasonic Corporation, Renesas Electronics Corporation, Texas Instruments, TRW Automotive Inc, Valeo SA|
Advanced Driver Assistance System (ADAS) Market, By Technology
Higher adoption of park assists system across wide range of vehicles owing to their lower cost and easier installation are supporting the segment growth over the forecast timeframe. These systems have the capability to detect objects surrounding the vehicles, thereby easing the car parking process. Further, the availability of a wide range of alternatives both at the aftermarket and OEM levels across different price range will drive advanced driver assistance system market size over the study timeframe.
Tire pressure monitoring systems are expected to account for a considerable share over the study timeframe. This can be attributed to the increasing requirements for convenient technologies to determine the tire status while traveling. Moreover, the availability direct and in-direct TPMS along with the availability for real-time pressure status of tires will further drive the advanced driver assistance system (ADAS) market share.
Advanced Driver Assistance System Market, By Sensor
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Image sensors dominates the ADAS market size owing to the evolution of modern computer vision analysis systems with effective object identification technologies. Strong outlook for image sensors in a wide range of applications including blind spot detection, auto high beam, night vision, lane departure warning systems, and surround view systems will positively influence the business growth. Continuously evolving technology to provide better sensitivity and image processing along with lower implementation cost will further augment the market share.
Semiconductor manufacturers are working on signal chain integration to facilitate improved sensor fusion. This enables combination of information from different sensors, providing more predictive & accurate warnings. The improving reliability of the systems along with better connectivity solutions and superior information processing will fuel the market size.
ADAS Market, By Vehicle
Passenger vehicles segment is expected to witness significant gains with increasing installation to reduce fatalities. The upsurge in per capita disposable income contributes significantly toward proliferating sales of premium and luxury vehicles equipped with electronic & safety systems. Further, the increasing demand for compact cars with standard ADAS features will further accelerate industry penetration.
HCVs will exhibit considerable growth with emergence of supporting regulatory norms mandating the implementation of automated braking technologies along with speed limiters. Industry participants are continuously investing in R&D for incorporating ADAS into their product portfolio. For instance, Volvo Trucks offers enhanced emergency braking systems with collision warning using the sensor fusion technology. The system enables stopping of the vehicle up to a speed of 70 kmph to prevent collisions.
Advanced Driver Assistance System (ADAS) Market, By Distribution Channel
OEM dominates the advanced driver assistance system market share and is anticipated to continue their dominance over the forecast timeframe with its implementation by automobile manufacturers. Rising preference for safety systems among manufacturers to improve brand identity and ensure vehicle safety will support the system demand. OEMs are focused on strategic partnerships and collaborations with technology providers including sensors and other semiconductor suppliers for increasing their market share. For instance, in 2018, HAAS Alert and Zenuity entered into strategic partnerships for enhancing real-time ADAS and automated driving systems by using HAAS Alert Safety Cloud technologies.
Rising accident rates and the requirement for replacements or repair of such systems owing to faults will enhance the aftermarket growth. OEMs supply these systems to workshops and garages for future replacements and repairs. The aftermarket segment depends on superior product quality along with consumer preferences toward lower cost & reliability. Cost-effectiveness is the prime advantage that will enhance industry growth over the projected timeframe.
Advanced Driver Assistance System Market, By Region
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Europe ADAS market will account for a significant volume share owing to the supporting initiatives including EuroNCAP, promoting the fitment of active safety features in vehicles. The mandatory fitment of multiple ADAS technologies in vehicles will support industry expansion over the forecast timeframe. Additionally, government initiatives to spread awareness regarding ADAS will escalate the industry size.
Asia Pacific led by China, India, and Japan will witness robust growth during the forecast timeframe. Intensified competition in the region owing to the increasing production capacity will affect profit margins. Manufacturers are focusing on value addition in high-end vehicles and are focusing on systems as product differentiator. Favourable foreign-based investments in emerging economies owing to the potential market along with the presence of major automobile manufacturers in the region will further fuel the industry demand.
Competitive Market Share
The key market participants in advanced driver assistance system market includes Autoliv, Continental AG, Texas Instruments, Magna International, and TRW Automotive. Other notable industry participants are Aisin Seiki Co., Delphi, NVIDIA Corporation, NXP Semiconductor Inc, Harman International, Denso Corporation, and Hyundai Mobis. The industry players have been continuously investing in R&D for innovating new products to gain the competitive edge. For instance, in June 2019, ZF presented a live demonstration of prototype of world’s first pre-crash occupant safety system equipped with an external side airbag to reduce the impact of side collisions on occupants.
Multiple benefits offered by the ADAS technologies including collision warning, tire pressure monitoring, lane departure warning, and park assist systems are augmenting the industry growth. Increasing consumer inclination towards vehicle comfort and driving efficiency are providing strong growth prospects for market size. Moreover, less severe accidents are resulting into reduction in cost associated with vehicle repairs and claims.
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