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Data Bridge Market Research analyses that the advanced driver-assistance systems (ADAS) market was valued at USD 23.74 billion in 2021 and is expected to reach the value of USD 114.16 billion by 2029, at a CAGR of 21.69% during the forecast period of 2022-2029.
Market Overview
ADAS (Advanced Driver Assistance Systems) are passive and active safety systems designed to eliminate human error when operating various types of vehicles. ADAS systems employ advanced technologies to assist drivers while driving and thus improve driver performance. ADAS employs a variety of sensor technologies to perceive the environment around the vehicle and then either provide information to the driver or take action as needed. Today, ADAS systems are used in automobiles, trucks, and buses, as well as farming, construction, and military vehicles.
Some of the major players operating in the advanced driver-assistance systems (ADAS) market are:
· Robert Bosch GmbH (Germany)
· Continental AG (Germany)
· Aptiv (U.S.)
· Lear Corporation (U.S.)
· DENSO CORPORATION (Japan)
· Texas Instruments Incorporated (U.S.)
· Renesas Electronics Corporation (Japan)
· HELLA GmbH & Co. KG. (Germany)
· Visteon Corporation (U.S.)
· ST Microelectronics (Switzerland)
· Infineon Technologies AG (Germany)
· Mitsubishi Electric Corporation (Japan)
· Panasonic Corporation (Japan)
· ROHM Co. LTD. (Japan).
· MAXIM Integrated (U.S.)
Explore Further Details about This Research Advanced Driver-Assistance Systems (ADAS) Market Report
Drivers
· Increased production of technologically advanced vehicles
The increased production of vehicles equipped with higher safety standards around the world is expected to propel the advanced driver assistance market. The increased use of artificial intelligence and the internet of things (IoT) in vehicles is also prompting automakers to develop advanced driver assistance systems. The implementation of stringent rules and regulations governing vehicle safety standards is expected to boost the global market for advanced driver assistance systems. Growing mergers and acquisitions between vehicle manufacturers around the world for the development of autonomous driving are expected to fuel the global market for advanced driver assistance systems.
· Stringent governments regulations
Governments in developed countries are mandating the implementation of various technologies in vehicles to improve consumer safety and security. The increase in disposable income and purchasing power of consumers is also expected to boost the sale of premium vehicles, which is expected to drive the global market for advanced driver assistance systems. The increased electrification of vehicles is expected to fuel the global advanced driving assistance market.
Restraints
· Lack of infrastructure development will challenge the growth
The advanced driver assistance market is likely to face challenges due to a lack of infrastructure development in developing countries. Vehicles equipped with advanced driver assistance systems are prohibitively expensive, which is expected to stymie the market.
· Delays due to pandemic
The pandemic's rapid spread forced the closure of design and manufacturing facilities, causing delays in vehicle production. Furthermore, disruptions in transportation channels and supply chains resulted in a shortage of raw materials required for vehicle manufacturing and technology integration in vehicles.
This advanced driver-assistance systems (ADAS) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the advanced driver-assistance systems (ADAS) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Key points mentioned
- To analyze the market size of the Advanced Driver-Assistance Systems (ADAS) Market and infer the key trends from it.
- Industry Chain Suppliers of Advanced Driver-Assistance Systems (ADAS) Market with Contact Information
- To inspect the market based on product, market share and size of the product share.
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the Advanced Driver-Assistance Systems (ADAS) Market
- The report offers market share appraisals for regional and global Advanced Driver-Assistance Systems (ADAS) Market levels
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