Advanced Driver-Assistance Systems ADAS Market trends, share, industry size, growth, demand, opportunities and forecast by 2029
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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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