Advanced Driver Assistance System (ADAS) Market size is set to cross USD 100 billion by 2030, according to a new research report by Global Market Insights Inc.
Increasing development of new AI-based solutions to enhance vehicle and driver safety in the automotive industry will escalate the ADAS industry revenue. Manufacturers are introducing dual-camera solutions equipped with a safe driving assistance function that detects dangerous driving situations through the forward camera. The development of front car proximity alerts and lane departure detection technology will further fuel the product penetration.
The growing demand for autonomous vehicles with advanced safety features is spurring the ADAS market demand. These technologies are aimed at providing benefits such as time saving for drivers, improvements in personal safety, availability of mobile platforms for non-drivers, reduction in transportation costs, and decreased environmental harm.
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The high cost associated with ADAS integration has limited its adoption in developing nations such as India and Brazil. Also, limited awareness about the benefits of ADAS technology is estimated to limit the market statistics. Most people are unfamiliar with the advanced technologies that are offered in their vehicles. Moreover, the limited marketing activities in the automotive industry for promoting ADAS technologies will further limit the industry growth.
Rising adoption of a night vision system for driver’s assistance
The night vision segment in the ADAS market is expected to grow at over 18% CAGR through 2030 owing to the capability of the system to increase a driver’s vision during poor lighting conditions at night. It uses a wide range of cameras and sensors including thermographic cameras for improving vision during poor weather conditions. The market players are forming strategic partnerships with automakers to introduce vehicles with advanced night vision systems.
Browse key industry insights spread across 300 pages with 480 market data tables and 27 figures & charts from the report, “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”, in detail along with the table of contents:
Rising penetration of smart safety systems in LCVs
The ADAS market from LCV segment is poised to register 15% gains through 2030 propelled by the growing sales of LCVs globally. These vehicles are integrated with multiple safety systems such as lane assist and collision avoidance. The rising penetration of LCVs across the globe will augment the market adoption of ADAS technology.
Technical advancements in radar sensing technology will support the market expansion
The radar sensor segment accounted for more than USD 5 billion in 2021. The segment growth is attributed to several high-end features such as velocity determination, object distance measurement, and accurate detection in foggy conditions. Continuous enhancements in radar technology will improve the proficiency of ADAS systems.
Growing requirements for vehicle and road safety regulations in Europe
The Europe ADAS market is anticipated to reach about USD 30 billion by 2030 on account of increasing demand for assisting drivers in preventing accidents and the incorporation of advanced and dependable sensors. Regional governments are focusing on developing new policies to promote vehicle and road safety.
Key players operating in the ADAS industry include ZF Friedrichshafen AG, Valeo SA, Texas Instrument Incorporated, Renesas Electronics Corporation, and Panasonic Corporation. Companies are proactively focusing on enhancing the existing ADAS technology to gain a competitive advantage in the market.
For instance, in September 2021, ZF Friedrichshafen AG introduced its latest generation of mid-range radars to provide enhanced ADAS safety functions and improve the existing ZF coASSIST semi-automated system. It is customizable to the demands of car manufacturers and has three operational parameters designed to provide increased sensing performance based on the vehicle's velocity.
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