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Global Advanced Driver Assistance Systems (ADAS) Market is to Reach USD 65 Billion by 2026, Driven by Favourable Government Regulations

According to a new report by EMR titled, ‘Global Advanced Driver Assistance Systems (ADAS) Market Report and Forecast 2021-2026’, the global ADAS market attained USD 25.04 billion in 2020. The market is further expected to grow at a CAGR of 17% between 2021 and 2026 to reach USD 65 billion by 2026.

The advanced driver assistance systems (ADAS) industry is being driven by the rising government regulations pertaining to vehicular safety across the globe. The market is being further catalysed by the rising adoption of autonomous and semi-autonomous vehicles, which make use of advanced driver assistance systems to analyse the data collected by radar, LiDAR, high-definition on-board cameras, and ultrasonic sensors. With major automotive manufacturers like General Motors, Tesla, and Ford, among others, expected to launch fully autonomous models in the forecast period, the ADAS market is expected to expand at a robust rate in the coming years.

The Asia Pacific is expected to emerge as a major market for advanced driver assistance systems (ADAS) due to the rising road safety awareness in the region, along with the introduction of significant government regulations, which are expected to come into effect during the forecast period. In Japan, the Ministry of Land, Infrastructure, Transport, and Tourism (MLITT) has mandated that all new and remodelled passenger cars must be fitted with automatic emergency braking (AEB), starting November 2021. Meanwhile, in India, the Ministry for Road Transport and Highways is expected to mandate the inclusion of ADAS across all automobiles to curb accidents and increase road safety.

With the Asia Pacific region presenting lucrative growth opportunities for the market, major industry players are increasingly investing in the region. In 2016, Continental AG (OTCMKTS: CTTAY), a leading player in the industry and a major automotive components manufacturer, announced its plan to expand into the Asia Pacific market, primarily investing in countries like Japan, China, and India. Thus, the rising expansion of such players into the profitable regional market is expected to influence the overall ADAS market positively.

Market Analysis by Offering, Sensor Type, System Type, Level of Autonomy, Distribution Channel, Vehicle Type, and Region:

  • The market, on the basis of offerings, can be divided into hardware and software.
  • Based on sensor type, the industry can be divided into image sensor, LiDAR sensor, ultrasonic sensor, infrared (IR) sensor, radar sensor, and laser.
  • The major system types in the market are adaptive cruise control system, automatic emergency braking system (AEBS), adaptive front lighting system, blind spot object detection system, driver monitoring system (DMS), forward collision warning system (FCWS), intelligent parking assist system (IPAS), lane departure warning system (LDWS), night vision system, road sign recognition system (RSRS), tyre pressure monitoring system (TPMS), and traffic jam assist system (TJAS), among others.
  • On the basis of the level of autonomy, the industry is segmented into level 1, level 2 and level 3, level 4, and level 5.
  • The leading distribution channels in the market are OEM and aftermarket.
  • Based on vehicle type, the market is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle.
  • The regional markets for advanced driver assistance systems (ADAS) include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global ADAS market is being driven by the rising awareness of vehicular and pedestrian safety.
  • The rising introduction of government mandates seeking to curb road accidents is also aiding the market growth.
  • In the coming years, the increasing addition of autonomous features in vehicles is expected to aid the growth of the market.
  • Technological advancements and rising innovations in the industry are further expected to propel the growth of the market in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the offerings, sensor types, system types, levels of autonomy, distribution channels, vehicle types, and major regions of advanced driver assistance systems (ADAS).
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global advanced driver assistance systems (ADAS) market are Robert Bosch GmbH, Continental AG, DENSO Corporation, Magna International Inc., ZF Friedrichshafen AG, Autoliv Inc., and NXP Semiconductors, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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