Advanced Driver Assistance System Industry Overview

The global advanced driver assistance system market size was valued at USD 30.61 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 11.0% from 2023 to 2030. The growing demand for advanced driver assistance systems (ADAS) in compact passenger cars is projected to be a prime factor driving the market growth. Increasing government regulations for mandatory implementation of ADAS in vehicles are anticipated to further drive the demand. Growing disposable income, economic stability, and a rising preference for materialistic lifestyles are driving the sales of luxury vehicles worldwide.

Gather more insights about the market drivers, restrains and growth of the Advanced Driver Assistance System Market

Developed countries such as the U.S., Canada, Japan, Spain, South Korea, and Germany accounted for a majority share of luxury car owners. However, developing countries such as India and China are witnessing high growth in the sales of luxury cars in the last few years. Germany is the most lucrative luxury car market owing to the presence of major leading players such as BMW, Mercedes-Benz, Audi AG, and Volkswagen. It is also the largest exporter of luxury cars worldwide with the U.S. being one of the largest consumer markets for all types of luxury vehicles.

The rising demand for advanced systems such as road sign recognition systems, night vision systems, and drowsiness monitoring systems is expected to impact the overall market growth in the forthcoming years. The demand for traditional ADAS systems, including autonomous emergency braking systems and adaptive cruise control systems, is expected to grow exponentially due to increased government regulations to improve road safety and reduce road accidents. For instance, the European Union (EU) passed a bill that mandated the implementation of adaptive cruise control systems in all heavy commercial vehicles by 2020. Such mandates and regulations are projected to provide lucrative growth opportunities for the advanced driver assistance systems market over the forecast period.

Vehicle electrification is creating lucrative growth opportunities in the field of vehicle automation. Thus, most of the market leaders are investing heavily in autonomous vehicle technology. The integration of ADAS is one of the primary requirements for vehicle automation. The integration of different ADAS sensors such as Radar, LIDAR, and cameras is expected to help companies reach the near-to-accurate mark in vehicle automation.

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Advanced Driver Assistance System Market Segmentation

Grand View Research has segmented the global advanced driver assistance system market based on solution type, component type, vehicle type, and region:

Advanced Driver Assistance System Solution Type Outlook (Volume, Million Units; Revenue, Billion, 2018 - 2030)

• Adaptive Cruise Control (ACC)
• Blind Spot Detection System (BSD)
• Park Assistance
• Lane Departure Warning (LDWS) System
• Tire Pressure Monitoring System (TPMS)
• Autonomous Emergency Braking (AEB)
• Adaptive Front Lights (AFL)
• Others

Advanced Driver Assistance System Component Type Outlook (Volume, Million Units; Revenue, Billion, 2018 - 2030)

• Processor
• Sensors
• Radar
• LiDAR
• Ultrasonic
• Others
• Software
• Others

Advanced Driver Assistance System Vehicle Type Outlook (Volume, Million Units; Revenue, Billion, 2018 - 2030)

• Passenger Car
• Commercial Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle

Advanced Driver Assistance System Regional Outlook (Volume, Million Units; Revenue, Billion, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE

Key Companies profiled:

• Altera Corporation (Intel Corporation)
• Autoliv Inc.
• DENSO CORPORATION.
• Continental AG
• Garmin Ltd.
• Infineon Technologies AG
• Magna International Inc.
• Mobileye
• Robert Bosch GmbH
• Valeo SA
• Wabco Holdings Inc

Key Advanced Driver Assistance System Company Insights

The prominent players are focusing on geographic expansions and new product launches to enhance their presence in the market and gain a competitive edge. These initiatives also assist in creating awareness regarding driver safety among end-users. The market players are also focusing on undertaking various strategic initiatives, mergers, and acquisitions, agreements and contracts, and partnerships to enhance their position in the market. For instance, in September 2021, Continental AG (Continental) and Beijing Horizon Robotics Technology R&D Co., Ltd. announced a Joint Venture (JV) contract.

Recent Developments

• In June 2023, Continental AG announced the development of low-cost ADAS (Advanced Driver Assistance Systems) for Indian cars and two-wheelers. The company aims to make vehicles in the Indian market safer and more affordable.
• In June 2023, Continental introduced a new high-performance computer (HPC) for cars. It integrates the cluster, infotainment, and advanced driver-assistance systems (ADAS) into a single unit.
• In January 2023, NXP Semiconductors, the U.S.-based automotive radar manufacturer, launched a new one-chip radar IC series for next-generation ADAS and automated driving systems. The SAF85xx series combines NXP's advanced radar detector and processing technologies into a single device, providing tier-one suppliers and original equipment manufacturers (OEMs) with greater flexibility. It also, addresses short to long-range radar applications that comply with progressively meticulous NCAP safety requirements.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.