Advanced Driver Assistance Systems Market to Top $122.86 Billion by 2031
Meticulous Research®—a
leading global market research company, published a research report titled, ‘ADAS Market by Type
(Blind Spot Detection Systems, Automatic Emergency Braking Systems), Automation
(Level 1, 2, and 3), Component (Vision Camera Systems, Sensors), Vehicle, End
Use (Passenger, Commercial), and Geography - Global Forecast to 2031.’
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According
to the latest publication from Meticulous Research®, the ADAS market is
projected to reach $122.86 billion by 2031, growing at a CAGR of 14.6% from
2024 to 2031. This growth is driven by stringent vehicle safety regulations,
increased demand for luxury cars, and the integration of safety and comfort
features in high-end vehicles. However, the lack of supporting infrastructure
in developing countries is a restraining factor.
The
emergence of autonomous vehicles, developments in autonomous shared mobility,
and the rising adoption of electric vehicles are expected to provide growth
opportunities for the ADAS market. Nonetheless, environmental and data security
risks, as well as the high costs of implementing ADAS, pose challenges for
industry players.
The
global ADAS market is segmented by system type (adaptive cruise control, blind
spot detection, automatic parking, pedestrian detection, traffic jam
assistance, lane departure warning, tire pressure monitoring, automatic
emergency braking, adaptive front-lighting, traffic sign recognition, forward
collision warning, driver monitoring, and night vision), level of automation
(level 1, level 2, and level 3), component (vision camera systems, sensors,
ECU, software, and actuators), vehicle type (internal combustion engine,
hybrid, and electric vehicles), end use (passenger vehicles and commercial
vehicles), and geography. The study also evaluates industry competitors and
analyzes the market at regional and country levels.
By
system type, adaptive cruise control systems are expected to dominate the
market in 2024, driven by the need for comfortable driving experiences,
government regulations, and technological advancements. However, the blind spot
detection systems segment is anticipated to register the highest CAGR, fueled
by the expanding e-commerce and logistics sectors and the rising adoption of
CMOS image sensors.
By
level of automation, level 1 systems are projected to hold the largest market
share in 2024 due to investments in vehicle electrification and increasing
demand for driver assistance systems. The level 3 segment is expected to
experience the highest growth, driven by demand for self-driving vehicles and
initiatives to launch advanced autonomous cars.
In
terms of components, sensors are expected to account for the largest share and
the highest growth rate, supported by the need to reduce greenhouse gas
emissions and increased demand for sensors in hybrid powertrains.
Regarding
vehicle types, internal combustion engine vehicles are expected to lead the
market in 2024, though the electric vehicles segment is anticipated to grow at
the highest CAGR, driven by supportive government policies, investments by
automotive OEMs, environmental concerns, and advancements in charging
technologies.
In
terms of end use, passenger vehicles are projected to dominate the ADAS market
in 2024, driven by growing awareness of greenhouse gas emissions and demand for
premium cars. The commercial vehicles segment is expected to register the
highest growth rate, driven by fuel price increases, emission norms, and the
adoption of autonomous delivery vehicles.
Geographically,
Asia-Pacific is expected to lead the ADAS market in 2024 due to the growing
automotive manufacturing sector, supportive regulations, and the popularity of
electric vehicles. Europe is projected to experience the highest growth rate,
driven by the presence of component manufacturers, growth in the automotive
sector, and high demand for sensors.
Key
players in the global ADAS market include Continental AG (Germany), Valeo SA
(France), Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Aptiv
PLC (Ireland), Autoliv, Inc. (Sweden), Denso Corporation (Japan), Garmin Ltd.
(U.S.), Infineon Technologies AG (Germany), Magna International Inc. (Canada),
Mobileye B.V. (Israel), Huawei Technologies Co., Ltd. (China), Qualcomm
Technologies, Inc. (U.S.), Microsoft (U.S.), and NXP Semiconductors N.V.
(Netherlands).
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