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Written by varun » Updated on: October 23rd, 2024
According to TechSci Research report, “Global Automotive Passenger Car ADAS Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Automotive Passenger Car ADAS Market stood at USD 21 billion in 2022 and is anticipated to grow with a CAGR of 10.5% in the forecast period, 2024-2028.
The term "advanced driver assistance system" refers to a broad category of active and passive technologies that are all intended to help the driver by improving security and safety for the driver, passengers, and pedestrians while they are on the road. ADAS is made up of several essential parts, including software, sensors, cameras, radars, and other imaging devices.
Among the many technologies that make up the ADAS are autonomous emergency braking, park assist, adaptive cruise control, and lane departure warning system. Automotive technology has advanced thanks to artificial intelligence (AI). Additionally, this market is expanding because of rising urbanization, industrialization, improved living conditions and increased disposable income.
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The Global Automotive Passenger Car Advanced Driver Assistance Systems (ADAS) market stands at the forefront of automotive innovation, poised to redefine the driving experience, and significantly enhance road safety. This thriving market is characterized by the integration of cutting-edge technologies and a commitment to reducing accidents and fatalities on the world's roadways. Spanning a vast spectrum of features and functionalities, ADAS systems encompass everything from adaptive cruise control and lane-keeping assistance to autonomous emergency braking and parking assistance.
One of the driving forces behind the ADAS market's rapid growth is the increasingly stringent safety regulations and mandates enforced by governments and regulatory bodies worldwide. These regulations underscore the urgent need to improve road safety and reduce the toll of traffic accidents. Entities like Euro NCAP (European New Car Assessment Programme) and the NHTSA (National Highway Traffic Safety Administration) in the United States have played pivotal roles in advocating for ADAS adoption. Consequently, automakers are compelled to incorporate advanced safety features into their vehicles to meet these regulatory requirements. The result is a marketplace where ADAS technologies are no longer optional luxuries but essential components of modern passenger cars, ushering in a new era of road safety.
Furthermore, consumer demand for enhanced safety features is another driving factor behind the ADAS market's ascent. With increased awareness and concern for road safety, consumers are actively seeking vehicles equipped with ADAS technologies that provide an additional layer of protection. Features such as blind-spot detection, lane departure warning, and pedestrian detection bolster driver confidence and decrease the likelihood of accidents, resonating strongly with safety-conscious buyers. This consumer-driven demand acts as a catalyst for automakers to integrate ADAS into an ever-widening array of passenger car models, democratizing access to these life-saving technologies.
Technological advancements are at the core of the ADAS market's trajectory. Innovations in sensors, artificial intelligence, and connectivity are driving the evolution of these systems. Sensors, such as LiDAR and radar, are becoming more accurate and reliable, enabling ADAS systems to perceive their surroundings with unprecedented precision.
AI algorithms are continuously improving, enhancing the capabilities of features like adaptive cruise control and traffic sign recognition. Additionally, the integration of vehicle-to-everything (V2X) communication and the rollout of 5G connectivity are revolutionizing real-time capabilities, facilitating vehicle-to-vehicle and vehicle-to-infrastructure communication, and thereby advancing both safety and traffic management.
The ADAS market is intricately linked to the pursuit of autonomous driving. Advanced Driver Assistance Systems serve as the foundational stepping stones for fully autonomous vehicles. With features like adaptive cruise control, lane-keeping assistance, and self-parking, ADAS technologies are instrumental in the gradual progression from human-operated vehicles to full autonomy. Industry leaders like Tesla, Waymo, and established automakers are heavily invested in autonomous technology, striving to develop fully autonomous vehicles. This push towards autonomy continually fuels the demand for ADAS components, as they form the basis for the evolution from advanced driver assistance to complete automation.
Competitive dynamics within the automotive industry also significantly influence the ADAS market's trajectory. Automakers are engaged in fierce competition to distinguish their vehicles by offering innovative and advanced features. In a crowded marketplace, where brand differentiation is challenging, the integration of cutting-edge ADAS technologies becomes a compelling selling point.
This competition fosters innovation encourages cost reductions, and ultimately makes ADAS technology more accessible to a wider consumer base. Moreover, the global expansion of the automotive market, particularly in emerging economies, presents ample growth opportunities for ADAS technology providers. These regions are witnessing surging vehicle sales and an expanding middle class with disposable income, which fuels demand for vehicles equipped with ADAS.
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“The Global Automotive Passenger Car Advanced Driver Assistance Systems (ADAS) market is witnessing rapid growth and transformation. ADAS technologies, encompassing features like adaptive cruise control, lane-keeping assistance, and collision avoidance systems, are becoming integral to modern vehicles, enhancing safety and convenience. This evolution is driven by stringent safety regulations, consumer demand for enhanced safety features, continuous technological advancements, the pursuit of autonomous driving, and intense competition within the automotive industry. These factors are reshaping the way we drive, reducing accidents, and advancing the journey towards fully autonomous vehicles. As the ADAS market continues to expand, it promises to play a pivotal role in revolutionizing the driving experience, making it safer, more efficient, and increasingly connected. This market is not only about technology but also about redefining the future of mobility and the way we interact with our vehicles on the road..,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Automotive Passenger Car ADAS Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Sensor Type (Radar, Ultrasonic, Camera, Lidar), By Level of Autonomy (Level1, Level2, Level3, Level4, Level5), By Function (Collision Avoidance, Adaptive Cruise Control, Lane Departure Warning System, Emergency Braking, Park Assistance) By Region, By Competition, 2018-2028”, has evaluated the future growth potential of Global Automotive Passenger Car ADAS Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Automotive Passenger Car ADAS Market.
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1.1. Market Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2.1. Objective of theStudy
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Sensor Type Market Share Analysis (Radar, Ultrasonic, Camera, Lidar)
5.2.2. By Level of Autonomy Market Share Analysis (Level1, Level2, Level3, Level4, Level5)
5.2.3. By Function Market Share Analysis (Collision Avoidance, Adaptive Cruise Control, Lane Departure Warning System, Emergency Braking, Park Assistance)
5.2.4. By Regional Market Share Analysis
5.2.4.1. Asia-Pacific Market Share Analysis
5.2.4.2. Europe & CIS Market Share Analysis
5.2.4.3. North America Market Share Analysis
5.2.4.4. South America Market Share Analysis
5.2.4.5. Middle East & Africa Market Share Analysis
5.2.5. By Company Market Share Analysis (Top 5 Companies, Others - By Value & Volume, 2022)
5.3. Global Automotive Passenger Car ADAS Market Mapping & Opportunity Assessment
5.3.1. By Sensor Type Market Mapping & Opportunity Assessment
5.3.2. By Level of Autonomy Market Mapping & Opportunity Assessment
5.3.3. By Function Market Mapping & Opportunity Assessment
5.3.4. By Regional Market Mapping & Opportunity Assessment
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Sensor Type Market Share Analysis
6.2.2. By Level of Autonomy Market Share Analysis
6.2.3. By Function Market Share Analysis
6.2.4. By Country Market Share Analysis
6.2.4.1. China Market Share Analysis
6.2.4.2. India Market Share Analysis
6.2.4.3. Japan Market Share Analysis
6.2.4.4. Indonesia Market Share Analysis
6.2.4.5. Thailand Market Share Analysis
6.2.4.6. South Korea Market Share Analysis
6.2.4.7. Australia Market Share Analysis
6.2.4.8. Rest of Asia-Pacific Market Share Analysis
6.3. Asia-Pacific: Country Analysis
6.3.1. China Automotive Passenger Car ADAS Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Sensor Type Market Share Analysis
6.3.1.2.2. By Level of Autonomy Market Share Analysis
6.3.1.2.3. By Function Market Share Analysis
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