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Advanced Driver Assistance Systems (ADAS) Market Size, Share & COVID-19 Impact Analysis, By System Type (Adaptive Cruise Control, Blind Spot Detection, Park Assist, Lane Departure Warning System, Autonomous Emergency Braking, Forward Collision Warning, Tire Pressure Monitoring, Head-Up Display, Intelligent Headlights, Forward Collision Warning, E-Call System), By Component Type (LiDAR, Radar, Camera, Sensors), By Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle), and Regional Forecasts, 2021-2028

Region : Global | Format: PDF | Report ID: FBI101897

 

KEY MARKET INSIGHTS

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The global Advanced Driver Assistance Systems (ADAS) Market size was USD 27.29 billion in 2020. The market is projected to grow from USD 27.52 billion in 2021 to USD 58.59 billion in 2028 at a compound annual growth rate (CAGR) of 11.4% in the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with clear aligners witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global ADAS market exhibited a huge decline of -19.8% in 2020 as compared to the average year-on-year growth during 2017-2019. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.


The advanced driver assistance systems (ADAS) cover a wide range of active and passive systems designed to assist the driver by providing safety, comfort, and efficiency while driving and improves the driver, passenger, and pedestrian security and safety. It has multiple vital components such as sensors, cameras, radars, and software that help the system function precisely. Autonomous emergency braking, blind-spot detection, park assist, adaptive cruise control, and lane warning departure system are a few of the many systems included in the ADAS. Artificial Intelligence (AI) has taken the automotive industry to the next level. Moreover, rapid urbanization and expansion in industrialization, improving living standards, and the rise in disposable income are positively impacting the Advanced Driver Assistance Systems (ADAS) Market growth during the forecast period.


Most of the accidents are caused by driver’s negligence and errors. Every year around 1.3 million people lose their lives in road accidents across the world. ADAS helps reduce the problem of traffic congestion and road accidents and enhances the safety and security of the vehicles, occupants, and pedestrians. Furthermore, the governments of various regions are spending a high amount to adopt advanced technologies, develop safety features and support the use of automated vehicles across the globe. Also, the government has made it mandatory for automotive manufacturers to integrate different advanced driving assistance systems in all types of vehicles.


COVID-19 Pandemic Impacted the Market Dynamics, Global Supply Chain, and Competition


The COVID-19 crisis has led to supply chain disruptions and the suspension of vehicle production, which brought the automotive industry to a halt. Therefore, major driver assistance solution providers lost revenue in Q1 2020. Further, the suppliers are facing disruptions in supply chains as countries are in a state of lockdown to prevent the spread of the coronavirus disease. As a result, the market underwent a declining phase in 2020.


LATEST TRENDS


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Shift Toward Automated System Infrastructure is one of the Key Market Trends


Self-driving vehicles or automated vehicles are no more a dream. Autonomous driving technologies like LiDAR, Radar, V2X Communication, deep learning and sensor fusion are drastically taking over the traditional automotive technologies. The driver assistance systems are combination of technological systems focused on improving and automating vehicles for a safe and better driving experience. The automotive sector is experiencing a widespread adoption of level-0 to level-2 ADAS.


Additionally, the automotive manufacturers, vehicle OEMs, and the new entrants in the automotive industry are inclining towards developing driver assistance systems and automated vehicles for preparing themselves for level-3 and beyond technology. The key players are spending massively on research and development due to the rising need for safety measures in vehicles, greater comfort, and highly efficient driving experience. The trend for driverless vehicles or automated vehicles is growing tremendously across the world.


DRIVING FACTORS


Strict Government Regulations and Growing Government Support Concerning the Safety of Vehicles is Anticipated to Drive the Market Growth


The government has imposed several regulations and laws to curb road accidents and improve the safety of automobiles. The continuous rise in the number of vehicles on the road leads to a rise in traffic congestions and accidents. Most of the accidents are caused by driver’s negligence and errors. Every year around 1.3 million people lose their lives in road accidents across the world.


The governments of several regions are spending tremendously on adopting advanced technologies, developing safety features, and supporting the use of automated vehicles. Furthermore, the automotive manufacturers are required to fulfill the norms and obtain safety ratings set by various organizations such as the International Centre for Automotive Technology (ICAT), New Car Assessment Program (NCAP), and the Insurance Institute of Highway Safety (IIHS) to access the authorization of vehicles.



  • The National Highway Traffic Safety Administration (NHTSA) lies under the U.S. Department of Transportation that works for road safety. The NHTSA is taking the required measures to decrease road fatalities and encourage the use of automated vehicles. They are also promoting driver assistance technologies by providing safety-related performance data and information about these technologies to consumers.

  • The Government of China and the Ministry of Industry and Information Technology (MIIT) of China are working towards drafting a bill for autonomous vehicles and developing technologies to become the leading player in the world.


Surging Demand for Safety Features, Greater Convenience and High Efficiency to Drive the Market Growth.


The advanced driver assistance systems averts distraction and reduces the pressure on the driver by assisting the driver through its artificial intelligence and other advanced features. The rapid adoption of advanced technology in software algorithms, mapping, processors, cameras, and sensors has increased the applicability of such systems in vehicles. Manufacturers are integrating driver assistance systems into vehicles to increase the safety and security of drivers and passengers and curb road fatalities.. These safety features, and high-efficincy factors are eventually increasing the demand for ADAS in the automotive industry.


The rise in disposable income and increasing inclination of people towards enhanced safety-security features, luxury and comfort in vehicles are creating demand for driver assistance systems across the globe. Furthermore, various government regulations have made it mandatory for all automotive manufacturers to integrate ADAS in entry-level and mid-sized vehicles, attracting high revenue in the automobile industry.


RESTRAINING FACTORS


Malfunctioning and High Initial Cost May Hamper the Market Growth


Although the need for intelligent driver assistance systems in the automotive sector is growing rapidly, it  propels manufacturers to update and upgrade themselves to meet consumer demands and maintain a good position in the market. Driver assistance systems consists of various systems such as adaptive cruise control, automated emergency braking, park assist, and blind-spot detection, among others. All these systems function with the help of radars, sensors, cameras, mapping and other software. These highly technological systems bring many technical challenges and complications as these systems works on batteries, the continuous consumption of battery power may cause battery disturbances as well as relying on these systems may add a calculated risk of malfunctioning and failures.


Also, the electronic components in the systems may disfunction and project incorrect information. Moreover, the high risks of cyber security threats and the complexity in system handling may cause hazards to both the vehicle and the passengers. Any misfunctions or forced and unforced errors in the systems may be dangerous and life-threatening for the users.


Key players have invested heavily in the research and development of driver assistance systems equipped with advanced technologies and artificial intelligence. These premium features in automobiles incur additional costs and have ultimately led to the rise in the initial price of vehicles which may restrain the market growth over the forecast period.


SEGMENTATION


By System Type Analysis


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Adaptive Cruise Control System to Hold Largest ADAS Market Share Due to Growing Demand for Premium and Luxury Cars


Based on system type, the market is segmented into adaptive cruise control, blind-spot detection, park assist, lane departure warning system, autonomous emergency braking, forward collision warning, tire pressure monitoring, head-up display, intelligent headlights, and e-call system. Adaptive cruise control is expected to hold the largest market share in 2020 and maintain its dominance over the forecast period. It is an active safety system responsible for controlling the acceleration and braking of a vehicle. The system is activated by pressing the button on the steering wheel and can be deactivated similarly or by applying brakes manually.


Park assist system holds the third-largest market share. Its lower cost, easy installation process and application in a wide range of vehicles are the foremost reasons for its dominance in the market. The parking assistance system detects the objects surrounding the vehicle by assisting the driver for easy car parking. The wide range of alternatives that the OEMs and aftermarkets are offering are propelling the growth of the park assist system market in the forecast period.


By Component Type Analysis


Radar Sensor to Hold Largest Market Share Owing to Growing Safety Awareness and Rising Road Accidents


Based on component type, the market is segmented into LiDAR, Radar, Camera, and Sensor. Radar sensors are used in various systems, such as emergency brake assists and adaptive cruise control systems. It is also expected to be the fastest-growing component type over the forecast period. Further, the increasing number of accidents and growing safety awareness are the key drivers for the market growth, which has resulted in increased demand for radar sensors in countries such as the U.S., China, and major European countries.


The sensor segment is anticipated to show significant growth in this market. The driver assistance systems and automated vehicle functions require continuous data inputs from the surrounding vehicle provided by the sensors. The sensors detect everything from the seen to unseen or unnoticed. An extensive set of sensors are integrated into different parts of the vehicle that helps the ADAS monitor accurately and function quickly. The semi-conductors deliver highly sophisticated ICs that integrate sensor signal chains essential for conditioning and processing the information. For example, automotive system designers are manufacturing systems that predict friction reduction between tire and road by combining information from tire pressure sensors, vehicle acceleration sensors, electronic stability control, and anti-lock braking systems.


By Vehicle Type Analysis


Passenger Car Segment Makes a Major Contribution to the Market Owing to Increasing Demand for Advanced Safety Systems and Electrification in Vehicles


In terms of vehicle type, the market is segmented into passenger cars, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). The passenger car segment holds the largest market share. The increasing urbanization, expansion of industrialization, high demographic growth, and rise in disposable incomes have led to the increase in the sales and production of vehicles across the globe. Moreover, governments invest  heavily on the development of advanced technologies in the automotive sector. The surge in demand for passenger cars with enhanced safety features, comfort and efficiency in driving is driving the advanced driver assistance systems (ADAS) market growth.


REGIONAL INSIGHTS


Asia Pacific Advanced Driver Assistance Systems (ADAS) Market Size, 2020 (USD billion)

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Asia Pacific is projected to hold the largest market share owing to the high sales and production of vehicles in the region and a significant rise in the adoption of electric vehicles in countries such as China and Japan. The automotive OEMs plan to expand their production volume and rapid technological advancements in manufacturing facilities in emerging regions such as China, India, and others.


The European market is estimated to hold the second-largest share in the market, owing to the stringent government regulations imposed to curb fuel emissions. The European government is also taking initiatives to promote safety features in vehicles. These government regulations and initiatives to promote safety features will ultimately propel sales and volume of vehicles in this region.


North America is also projected to witness substantial growth in the market over the forecast period. The presence of prominent automotive manufacturing companies and the rapid adoption of such systems in vehicles is leveraging the regional market growth.


KEY INDUSTRY PLAYERS


The market is highly competitive and fragmented, with the presence of key market players such as Robert Bosch GmbH, Continental AG, ZF Friedrichshafen, DENSO CORPORATION, Aptiv PLC, Valeo SA, Magna International Inc., Aisin Seiki Co. Ltd., Autoliv Inc., GENTEX CORPORATION, Harman International, Hyundai Mobis, NXP Semiconductor, Mobileye N.V., Panasonic Corporation, Jayson Electronics, and Renesas Electronics Corporation, among others. These market players adopted new product launches and expansion to gain traction in the market.


Robert Bosch GmbH is the Leading Player in the Market Owing to the Company's Presence on a Global Scale, and Industry-Leading Products and Solutions


Robert Bosch GmbH dominated the market earlier and is expected to continue leading the global market in high sales. This factor is due to a wide range of smart assistance solutions developed essentially for urban traffic. Additionally, the continuous R&D efforts on component manufacturing lead to technological advancements. which are This strategy is responsible for the dominance of this company. However, DENSO CORPORATION and Continental AG have also retained their positions in the competitive landscape, with DENSO CORPORATION mostly dominating the Asia Pacific region. This factor is projected to positively influence the global market during the forecast period.


LIST OF KEY COMPANIES PROFILED:



  • Robert Bosch GmbH (Gerlingen, Germany)

  • Continental AG (Hanover, Germany)

  • ZF Friedrichshafen AG (Friedrichshafen, Germany)

  • DENSO CORPORATION (Aichi, Japan)

  • Aptiv PLC (Dublin, Ireland)

  • Valeo SA (Paris, France)

  • Magna International Inc. (Aurora, Canada)

  • Aisin Seiki Co. Ltd (Aichi, Japan)

  • Autoliv Inc. (Stockholm, Sweden)

  • GENTEX CORPORATION (Michigan, U.S.)

  • Harman International (Connecticut, U.S.)

  • Hyundai Mobis (South Korea)

  • NXP Semiconductor (Eindhoven, Netherlands)

  • Mobileye (Jerusalem, Israel)

  • Panasonic Corporation (Osaka, Japan)

  • Renesas Electronics Corporation (Tokyo, Japan)


KEY INDUSTRY DEVELOPMENTS:



  • July 2021 – Magna International Inc. to acquire safety tech major Veoneer Inc. Magna International Inc. entered into a definitive merger agreement with Veoneer Inc., under which, the company plans to acquire Veoneer Inc., a leading player in automotive safety technology. With this acquisition, Magna’s aimed to strengthen and broaden its ADAS portfolio and industry position.

  • April 2021 – DENSO CORPORATION Develops Advanced Driver Assistance Products for New Lexus LS, and Toyota Mirai DENSO CORPORATION developed Advanced Drive, an ADAS technology, to improve vehicle sensing and safety. This product featured on the new Lexus LS and Toyota Mirai.


REPORT COVERAGE


An Infographic Representation of ADAS Market

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The Advanced Driver Assistance Systems Market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading product applications. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the market's growth over recent years.


Report Scope & Segmentation
















































 ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Estimated Year



 2021



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD Billion) & Volume (Thousand units)



Segmentation



By System Type



  • Adaptive Cruise Control

  • Blind Spot Detection

  • Park Assist

  • Lane Departure Warning System

  • Autonomous Emergency Braking

  • Tire Pressure Monitoring

  • Head-Up Display

  • Intelligent Headlight

  • Forward Collision Warning

  • E-Call System



By Component Type



  • LiDAR

  • Radar

  • Camera

  • Sensor



By Vehicle Type



  • Passenger Cars

  • Light Commercial Vehicles (LCV)

  • Heavy Commercial Vehicles (HCV)



 



By Geography



  • North America (By System Type, By Component Type, By Vehicle Type)

    • U.S. (By Vehicle Type)

    • Canada (By Vehicle Type)

    • Mexico (By Vehicle Type)



  • Europe (By System Type, By Component Type, By Vehicle Type)

    • U.K. (By Vehicle Type)

    • Germany (By Vehicle Type)

    • France (By Vehicle Type)

    • Rest of Europe (By Vehicle Type)



  • Asia Pacific (By System Type, By Component Type, By Vehicle Type)

    • China (By Vehicle Type)

    • India (By Vehicle Type)

    • Japan (By Vehicle Type)

    • South Korea (By Vehicle Type)

    • Rest of Asia Pacific (By Vehicle Type)



  • Rest of the World (By System Type, By Component Type, By Vehicle Type)



Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 27.29 billion in 2020 and is projected to reach USD 58.59 billion by 2028.

The market is expected to grow at a CAGR of 11.4% during the forecast period. (2021-2028).

The adaptive cruise control system segment is expected to be the leading segment in this market during the forecast period.

Surging demand for safety features, greater convenience, and high efficiency in vehicles fuel the demand for an Advanced Driver Assistance Systems.

Robert Bosch GmbH & Continental GT are the leading players in the global market.

Asia Pacific dominated the market in 2020.

Stringent government regulations and increased government support pertaining to vehicle safety are expected to drive the adoption of an advanced automotive driver assistance system.

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