TheGlobal Advanced Driver Assistance System (ADAS)Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The Global ADAS Market was worth US$ 21 billion in 2019 and is expected to grow at a CAGR of 9% through 2030. Advanced driver assistance systems have contributed significantly towards improving the passenger and occupant safety by integrating advanced features into automobiles. With implementation of functionalities such as basic automatic cruise control (ACC), the automobile manufacturers are focusing to target economy and mid-range vehicle segment across the emerging countries to gain competitive advantage. The automotive sales during past couple of years have lowered, which is evaluated to somewhat experience borderline development in vogue of COVID-19 pandemic across the world. Lowered need, interruption in supply chain, and the need to safeguard the safety of employees has ensued in halt of management activities of preeminent automotive OEMs and progressive driver assistance system dealers across the globe. This is foreseen to affect the advancement of the global advanced driver assistance system market in subsequent years.
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Increased number of road accidents and emphasis on improving safety to drive the growth of Radar sensors
The global advanced driver assistance system market is segmented based on component, system, vehicle type, propulsion type, level of autonomy, and geography. Based on component, the global advanced driver assistance system market is segmented into hardware, software, and services. The hardware segment is further sub-segmented into electronic control unit (ECU), camera unit, LiDAR, Radar sensor, ultrasonic sensor, infrared sensor, and others. The hardware components subsidized a predominating share to the international market in 2020 and is assumed to be the most accelerated growing segment during the forecast period of 2020-2030. Among the hardware segment, the Radar sensor shared the largest share to the global market, incurring to heightened appeal form embodying safety elements in mid-range and economy automobiles. The electronic control unit (ECU) is foreseen to be the swiftest growing hardware component during the forecast period of 2020-2030.
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Growing adoption of electric vehicles to pilot the demand for advanced driver assistance systems in coming years
Based on propulsion type, the global advanced driver assistance system market is segmented into internal combustion (IC) engine vehicle and electric vehicle. The electric vehicle segment is further sub-segmented into battery electric vehicles (BEV), hybrid electric vehicles (HEV), plug-in hybrid electric vehicle (PHEV), and fuel cell electric vehicle (FCEV). The internal combustion (IC) engine vehicle dictated the global advanced driver assistance system market in 2020 and is counted on to notice substantial growth during the forecasted time period. The electric vehicle is foreseen to be the most advantageous segment during the projection period, incurring to marked up endorsement of electric vehicle across major regions globally to lessen the carbon emissions issues from automobiles.
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Based on geography, the global advanced driver assistance system market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe maintained the most considerable share to the global advanced driver assistance system market in 2020 and is conjectured to note compelling improvement during the forecast time period. Asia Pacific subsidized a notable share of the global market in 2020 and is foreseen to be the swiftest developing segment during the forecast period. Asia Pacific supposed to control the global advanced driver assistance system market by the closure of 2030. Existence of preeminent automotive manufacturers, advanced driver assistance system manufactures, and elevated financing in extension of automotive electronic manufacturing across China, Japan, South Korea, and India are the crucial aspects assisting towards the growth of Asia Pacific advanced driver assistance system market.
Major players active in the global advanced driver assistance systemmarket include Aptiv, Continental AG, Cypress Semiconductor Corporation, DENSO Corporation, HYUNDAI MOBIS, Infineon Technologies AG, Intel Corporation, Magna International Inc., Microsemi Corporation, Nvidia Corporation, Robert Bosch GmbH, SAMSUNG, Texas Instruments Incorporated, Valeo, Veoneer, Xilinx, Inc., and ZF Friedrichshafen AG.
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