The global Advanced Driver Assistance Systems (ADAS) Market worldwide size was valued at USD 30.9 billion in 2022 and is expected to reach USD 65.1 billion by 2030 at a CAGR of 9.7% during the forecast period 2022-2030. Software and hardware providers provide ADAS systems such as adaptive cruise control, adaptive front lights, automatic emergency braking, blind spot detection, cross traffic alert, among others to various global OEMs and component manufactures. Factors such as increased demand for road safety and strong government support have caused leading original equipment manufacturers (OEMs) to invest in development of ADAS systems.
L1 autonomy level to be the largest market during forecast period
Level 1 is the lowest level of autonomous driving defined by the Society of Automotive Engineers (SAE). An L1 vehicle can handle either steering or control the speed, not at the same time. The driver controls most of the driving tasks, and the driver assistance system helps the driver with tasks such as lane departure warnings. ADAS features such as adaptive cruise control, lane departure warning, tire pressure monitoring systems, and adaptive front lights are considered under level 1 driving systems. As of 2022, many higher-end mid-tier passenger and luxury vehicles have level 1 autonomous features. Mercedes (Germany), for instance, since 2018 provides level 1 autonomous for its S-class passenger car. Similarly, Toyota’s RAV4 has level 1 autonomous features in its 2022 model. Cars such as Jeep Wrangler 4Xe, Renault Arkana, and Nissan Qashqai are also available with level 1 autonomous systems.
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Passenger Cars segment to be the largest segment during the Advanced Driver Assistance Systems market forecast period
Passenger cars comprise sedans, hatchbacks, station wagons, sports utility vehicles (SUVs), multi-utility vehicles (MUVs), and vans. This is the most promising segment and largest Advanced Driver Assistance Systems Market due to the growing demand for safer and more comfortable vehicles. The increasing demand for luxury vehicles is another key driving factor. Governments in developed and developing countries are planning to mandate ADAS systems in passenger cars. For instance, the European Union has extended the scope of mandating ADAS systems such as AEB and LDW in passenger cars. This mandate has made it compulsory for automakers to provide certain ADAS features in the region. Countries such as South Korea have mandated AEB and LDW systems for all new passenger vehicles since 2019.
Automotive component manufacturers and electronic and software companies are putting substantial effort into developing driverless cars. Autonomous car technology is in development and has not yet been fully commercialized. Increasing focus on robo-taxis, a part of the passenger cars segment, has led many players to invest in the Advanced Driver Assistance Systems Market. For instance, in October 2019, Hyundai announced plans to invest USD 35 billion in electric and autonomous vehicles by 2025 to become the major manufacturer and supplier of robo-taxi fleets. Toyota acquired Lyft’s self-driving division and will combine its expertise to speed up the commercialization of autonomous vehicles. Lyft has an extensive network of customers, data, and routes. Toyota is planning to launch rob taxi services in the US in 2023. Such strategies to enter the autonomous passenger cars market are expected to fuel the growth of the passenger cars ADAS segment.
Asia Pacific to be the most potential market during the forecast period
Asia Pacific is estimated to account for the largest Advanced Driver Assistance Systems market share by 2030, followed by Europe and North America. Increasing demand for a safe, efficient, and convenient driving experience; rising disposable income in emerging economies, and stringent safety regulations worldwide drive the ADAS market trends. The Asia Pacific region saw significant developments in ADAS. China has made significant advancements in developing ADAS in recent years. Some of the major ADAS system manufacturers in China are Baidu Apollo, TuSimple, Momenta, Pony.ai, Xpeng, DiDi and NIO companies like Bosch, Continental, and Aisin. Some of the top Advanced Driver Assistance Systems developers have opened industries in the country to cater to Chinese OEMs, such as BYD, Geely, Chery, FAW, and GAC. Recently, several Chinese companies, such as Baidu, Tencent, and Alibaba, have widely invested in the research and development of ADAS technology, including autonomous driving and connected cars. Additionally, the Chinese government supports the development of ADAS through policies and regulations. Japan has been actively developing ADAS for several years.
Key Market Players
The Advanced Driver Assistance Systems Market is dominated by established players such as Robert Bosch (Germany), Denso (Japan), Continental AG (Germany), Magna International (US), and ZF Friedrichshafen (Germany), among others. These companies provide ADAS components to global OEMs.
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