The global advanced driver assistance system market was valued at USD 52.40 billion in 2021, and it is anticipated to reach USD 202.8 billion by 2030 at a CAGR of 18.43%.
Advanced Driver Assistance Devices," or ADAS, is a broad phrase encompassing many active and passive systems designed to help the driver while on the road. These systems also improve driver, passenger, and pedestrian security and safety. It comprises various critical components like sensors, cameras, radars, and software, all of which contribute to the system's accurate operation. A few of the various technologies incorporated in the advanced driver assistance system (ADAS) are autonomous emergency braking, detection of blind spots, adaptive cruise control, park assist, and lane departure warning departure system. The automotive industry has advanced to the next level due to artificial intelligence (AI).
The expansion of the automobile industry and the rapid development of new technologies are some of the key drivers responsible for the ADAS market expansion. In addition, developments in urbanization and industrialization, as well as improvements in people's standards of living and the growing popularity of autonomous vehicles, are expected to contribute to the expansion of the ADAS market during the forecasted period. Most accidents happen because of the carelessness and blunders of the drivers. Road traffic accidents are responsible for the deaths of approximately 1.3 million individuals worldwide. Traffic congestion and road accidents can be reduced by ADAS, which also improves the safety and security of cars and pedestrians. ADAS also contributes to ADAS.
By providing support to the driver through its artificial intelligence and other cutting-edge features, sophisticated driver assistance systems prevent them from becoming distracted and relieve the burden placed on them. The increasing prevalence of cutting-edge technology in software algorithms, mapping, CPUs, cameras, and sensors has made it possible for such systems to be implemented in a broader variety of automobiles. The incorporation of driver aid systems into motor vehicles is becoming increasingly common among manufacturers to lessen the number of people killed or injured in automobile accidents. The high efficiency and safety features being developed will eventually raise demand for ADAS in the automotive sector.
Demand for driver assistance systems is growing in every region of the world thanks to rising discretionary income levels and a growing preference among consumers for increased levels of safety and security features, luxury, and comfort in their vehicles. In addition, numerous government requirements have made it necessary for all automotive manufacturers to include ADAS technology in entry-level and mid-sized vehicles. It has resulted in a significant increase in revenue for the automotive sector.
There will be a significant rise in consumer awareness regarding car safety ratings, which, together with the extensive deployment of cameras and radars, will be significant growth drivers for the advanced driver assistance systems (ADAS) market. Major original equipment manufacturers are adopting ADAS technologies to attain higher safety ratings and attract a more significant number of customers. As a result, leading original equipment manufacturers (OEMs) either incorporate safety measures as a standard feature across all models or provide them as optional extras. Consequently, the growing penetration of sophisticated driver assistance system features will increase demand for components such as cameras, radar sensors, ultrasonic sensors, and LiDAR during the period covered by the forecast.
It is anticipated that the deployment of driverless vehicles would completely revolutionize the commute. Driving has become much less complicated due to technological advancements in ADAS systems, including lane monitoring, emergency braking, stability controls, and many more. Regarding information collection, autonomous cars rely on cutting-edge technology and systems such as LiDAR, radar, ultrasonic sensors, and high-definition cameras. A clever autonomous driving system built into the vehicle performs analysis of this data to navigate the vehicle safely. In the upcoming years, Tesla, Volkswagen, Ford, General Motors, and Waymo will release completely autonomous versions of their vehicles. In March 2018, Nissan announced they planned to implement ProPILOT in 20 different models by 2022. The growing emphasis on autonomous driving systems will make it possible for original equipment manufacturers (OEMs) to include more advanced cruise control functions and safety systems in semi-autonomous vehicles.
Although demand for intelligent driver assistance systems in the automobile industry is expanding quickly, manufacturers are forced to update and improve themselves to keep up with consumer demands and have a competitive edge. The term "driver assistance systems" refers to a group of systems that include, among others, automated emergency braking, park assist, and blind-spot detection. Radars, sensors, cameras, maps, and other software make these systems work. Because they run on batteries, these highly technological systems provide several technical difficulties and difficulties. Battery disruptions may result from constant battery use, and relying on these systems may increase the calculated risk of malfunction and failure.
Additionally, the systems' electronic components could malfunction and deliver false information. Additionally, the complicated system handling and significant risk of cyber security threats could endanger both the vehicle and the passengers. The users' safety and lives could be at risk from system malfunctions or intentional or accidental mistakes.
Major players have invested significantly in studying and creating driver assistance systems that use cutting-edge technology and artificial intelligence. The higher expenditures incurred by these high-end features in cars have eventually increased vehicle starting prices, which could limit market growth over the projection period.
The global advanced driver assistance system market is segmented into four parts based on type, technology, vehicle type, and region.
Further, the type segment is divided into Parking Assist systems, Adaptive Front-lighting, Night Vision systems, Blind Spot Detection, Advanced Automatic Emergency Braking systems, Collision Warning, Driver Drowsiness Alert, Traffic Sign Recognition, Lane Departure Warning, and Adaptive Cruise Control. Over the forecast period, adaptive cruise control is anticipated to dominate and hold the most significant market share. Controlling a vehicle's acceleration and braking falls under the purview of this active safety system. By depressing the steering-wheel button or manually applying the brakes, the system can be turned off once it has been turned on.
The market is classified based on technology: Radar, LiDAR, and Camera. Radar sensors are employed in many technologies, including adaptive cruise control and emergency braking aid. It is also anticipated to increase at the fastest level over the projection period.
According to vehicle type, the market is bifurcated into Passenger Cars and Commercial Vehicles. The passenger automobile category dominated the global market. The rise in sales of passenger automobiles across the globe is projected to push the industry. It is predicted that increased consumer purchasing power will increase vehicle sales and, as a result, feed the demand for improved driver assistance.
The market is broken down into Asia-Pacific, North America, Europe, and the rest of the world. North America dominates the market.
Based on region, the global advanced driver assistance system market is divided into North America, Europe, Asia-Pacific, and the rest of the world.
In 2021, the market share held by North America was the greatest, at 37.1%. The rapid technical improvement in the automotive industry and the presence of key companies in this region are the primary factors propelling the expansion of this region. In addition, the increased pace of implementation of new technologies, in conjunction with the region's improving economic conditions. Increased deaths and rising sales of luxury vehicles in nations like Canada and the United States are driving the market expansion in this region.
During the time covered by the projection, it is predicted that the Asia-Pacific area will expand faster than average. Countries in the Asia Pacific region, such as Japan, China, and South Korea, have been significant contributors to the region's expansion due to their high rates of automotive manufacturing and greater use of cutting-edge electronic technology. Initiatives are taken by the government, such as installing emergency brake and adaptive cruise control systems, are intended to encourage original equipment manufacturers to enter the market. Manufacturing facilities belonging to many European and American companies, including Mercedes-Benz, Volkswagen, and General Motors, have been relocated to the countries mentioned in recent years.
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