New York, United States, July 20, 2022 (GLOBE NEWSWIRE) -- The ascent in people's disposable income levels and strict enforcement by transportation authority’s globally have led to the rapid rise in the advanced driver assistance systems (ADAS) market.
Insights into the market for Advanced Driver Assistance Systems:
- Adaptive cruise control held the highest market share in the system type category.
- RADAR dominated the component segment.
- The passenger vehicle segment dominated the car type segment.
- Plug-in Hybrid Electric vehicles dominated the electric vehicle type segment.
- North America dominated the regional segment.
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| Report Coverage | Details | |
| Forecast Period | 2021-2030 | |
| Forecast Period 2020 to 2030 CAGR | 13.83% | |
| 2030 Value Projection | USD 75.23 Billion | |
| Base Year | 2021 | |
| Market Size in 2021 | USD 23.44 Billion | |
| Historical Data for | 2015 - 2019 | |
| No. of Pages | 135 | |
| Companies | RobertBoschGmbH,AutolivInc,ZFFriedrichshafen,DENSOCORPORATION,ValeoSA,AptivPLC,MagnaInternationalInc,AisinSeikiCo.Ltd,ContinentalAG,GENTEX CORPORATION,HarmanInternational,MobileyeN.V,HyundaiMobs,NXPSemiconductor,PanasonicCorporation,Delhi Automotive PLC,Renesas Electronics Corporation,Jayson Electronics | |
| Leading Segment By System Type | Adaptive cruise | |
| Leading Region | Asia-Pacific | |
| Segments covered | By System Type, By Component Type, By Vehicle Type, By Offering, By Electric Vehicle | |
| Growth Drivers | The ascent in people's disposable income levels and strict enforcement by transportation authorities globally have led to the rapid rise in the market. | |
Important factors accounting for the stellar growth of the Advanced Driver Assistance Systems Market:
Rising Disposable Income of People.
Disposable income for people has increased over the years, meaning they can afford products in the specialty category of the product segment. As per a US Bureau of Economic Analysis study, the amount stood at USD 55,671 per individual. In Europe, the amount stood at Euro 15,055. China’s disposable income increased by 8.1% to approximately 35,000 yuan in 2021. Certain components of Advanced Driver Assistance Systems involve precision machining and coding and hence, can be considered a premium feature in vehicles. However, with the income of people rising as time passes, more Advanced Driver Assistance Systems can be adopted by consumers without considering it a premium feature.
Strict enforcement of safety norms as laid down by transport authorities.
The main purpose of Advanced Driver Assistance Systems is to prevent vehicular accidents, thereby preventing loss of life. The US Department of Transportation’s Fatality Analysis Reporting System (FARS)stated that over 35,000 fatal vehicle crashes occurred in 2020, with more than 38,000 deaths registered. According to European Commission statistics, over 18,000 deaths occurred in road accidents in 2020. In 2021, over 67,000 fatalities occurred in China due to road vehicle accidents. With statistics showing the increasing number of vehicle accidents and fatalities, transport authorities have begun introducing national legislation to make cars safer by adopting systems such as ADAS. The updated General Safety Regulation (GSR), which requires the deployment of cutting-edge vehicle safety measures, was implemented by the European Commission in 2019. The legislation was introduced in the US Congress in 2020 to mandate the use of lane-assist technology and automatic emergency braking in commercial trucks within two years of the act passing. Thus, with national and global transport authorities introducing laws regarding the use of Advanced Driver Assistance Systems, the market will grow tremendously in the future.
Analysis of the Segmentation of the Advanced Driver Assistance Systems Market:
By Component Type
- Radar
- Processor
- Sensor
- Camera
- LiDAR
- Software
By Type of Vehicle
- Heavy Commercial Vehicles
- Passenger Cars
- Light Commercial Vehicles
By Offering
- Hardware
- Software
By Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Hybrid Electric Vehicle
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
By Type of System
- Adaptive Cruise Control
- Adaptive Front Lights
- Autonomous Emergency Braking
- Blind Spot Detection System
- E-Call System
- Forward Collision Warning
- Head-Up Display
- Intelligent Headlight
- Lane Departure Warning Systems
- Park Assistance
- Tire Pressure Monitoring System
- Others
By Geography
Asia Pacific
- China
- Australia- New Zealand
- India
- South Korea
- Vietnam
- Japan
- Rest of the region
Europe
- France
- Germany
- United Kingdom
- Italy
- Sweden
- Poland
- Spain
- Rest of the countries in Europe
North America
- USA
- Canada
- Mexico
Middle East, Latin America, and Africa (MELAA / LAMEA)
- UAE
- Saudi Arabia
- Qatar
- Kuwait
- Egypt
- South Africa
- Nigeria
- Algeria
- Brazil
- Argentina
- Rest of MELAA
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Radar sensors dominated the component segment due to their extensive use in adaptive cruise control systems and emergency brake assists. Reports suggest that most of the 2020 and post-2020 models have adaptive cruise control in at least one car variant. Similarly, almost all cars in the US market have emergency brake assist systems in place. Thus, with the increasing use of systems that use radar in their safety process, the radar component will continue to dominate the segment in the market.
The passenger car segment will continue to dominate the Advanced Driver Assistance Systems market in the future due to the rising sales of passenger car vehicles across regions. North America had passenger vehicle sales of nearly 16 million units in 2021, with 90% of them equipped with at least one form of Advanced Driver Assistance Systems. In the APAC region, over 32 million cars were sold in 2021. In Europe, over 11 million cars were sold in the segment. Thus, with increasing sales in the vehicles segment, we would see a phenomenal rise in the requirement for Advanced Driver Assistance Systems.
By offering, both hardware and software are necessary for the efficient working of the systems. However, hardware dominated the segment due to the sheer volume of sales of hardware components, whereas software was expected to grow at a tremendous CAGR of 19% in the scheduled period. Hence, with the increasing awareness among the public for the use of Advanced Driver Assistance Systems, the need for both hardware and software parts will grow rapidly.
Going by the type of electric vehicle, plug-in hybrid electric vehicles dominate the segment currently, and in the future, the battery electric vehicle will dominate the market. As reinstated by the US Department of Energy, more than 600,00 PHEVs were sold in 2021, and the growth of the battery electric vehicles between 2020 and 2021 was 3%. Thus, with increased demand from consumers for electric vehicles, the market will see a period of sustained growth shortly.
The adaptive cruise control (ACC) system type dominated the market because it is a reliable and easily implementable technology that has been in use for the last three decades. The ACC system maintains the vehicle's speed and acceleration, reducing any impact of going beyond permissible speed limits.
North America’s market share was well over one-third of the market and stood at 37%. The reason for the region's dominance was the presence of multiple companies with well-developed R&D departments and the overall infrastructure of the road network in the region, which necessitated the requirement of advanced Advanced Driver Assistance Systems. US automobile manufacturers invested over USD 15 billion in R&D in 2021. Thus, the market would witness sustained growth with continued investments and higher requirements for ADAS.
Important Companies which are involved in the Advanced Driver Assistance Systems Market:
- Aisin Seiki Co. Ltd.
- Aptiv PLC
- Autoliv Inc.
- Continental AG
- Delhi Automotive PLC
- DENSO CORPORATION
- GENTEX CORPORATION
- Harman International
- Hyundai Mobis
- Jayson Electronics
- Magna International Inc.
- Mobileye N.V
- NXP Semiconductor
- Panasonic Corporation
- Renesas Electronics Corporation
- Robert Bosch GmbH
- Valeo SA
- Veoneer
- ZF Friedrichshafen
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Recent Developments
- In June 2022, BMW and Valeo announced a partnership to integrate the use of Valeo’s new Advanced Driver Assistance Systems components. The sensors and software for enabling easy vehicle parking would be provided by Valeo, along with the controllers that maintain data flow.
- In July 2022, Mobileye launched a new SDK (software development kit) for its EyeQ chip. The SDK aims to aid automobile manufacturers in integrating the use of the hardware and software of the EyeQ processor to enable safer Advanced Driver Assistance Systems.
- In May 2022, EKA and NuPort announced a partnership to enable Advanced Driver Assistance Systems on commercial buses meant for Indian road conditions. EKA would be the provider of electric vehicles, and NuPort would provide the AI technology that would enable the buses to travel on Advanced Driver Assistance Systems.
- In May 2022, Blackberry announced that it would continue its partnership with Magna Electronics to develop Advanced Driver Assistance Systems. Blackberry would continue to provide the basic platform of QNX software, and Magna would use the software in its power and vision technologies to enable it to dominate the vehicle segment in ADAS.
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