The advanced driver assistance systems (adas) global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Advanced Driver Assistance Systems ADAS Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The advanced driver assistance systems (adas) market size has grown rapidly in recent years. It will grow from $37.22 billion in 2023 to $43.59 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to increased focus on vehicle safety, regulatory mandates for safety features, rising consumer awareness, integration of adas in premium vehicles, growing complexity of modern vehicles.
The advanced driver assistance systems (adas) market size is expected to see rapid growth in the next few years. It will grow to $79.47 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period can be attributed to growing demand for semi-autonomous and autonomous vehicles, need for accurate and efficient diagnosis of problems to reduce repair times and costs, increasing investment in ai for adas, integration of v2x (vehicle-to-everything) communication. Major trends in the forecast period include development of ai-based driver monitoring systems, expansion of augmented reality (ar) in head-up displays, enhanced connectivity with advanced sensors, evolution of automated parking systems, integration of machine learning for improved decision-making in adas.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing government regulations for mandatory ADAS implementation in vehicles are propelling the advanced driver assistance systems market. The governments across the globe are implementing mandatory ADAS inclusion regulations in the vehicle to strengthen driving convenience and safety of the drivers and commuters. For instance, in July 2022, new rules entered into force in the EU, which require new vehicles to be equipped with ADAS to improve road safety. This regulation was focused on increasing general safety of motor vehicles and protection of vehicle occupants, and vulnerable road users, in a move to decrease the number of road accidents. Therefore, the increasing regulations for mandatory implementation of ADAS in vehicles are driving the growth of advanced driver assistance systems.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The advanced driver assistance systems (adas) market covered in this report is segmented –
1) By System Type: Tire Pressure Monitoring System (TPMS), Drowsiness Monitor System, Intelligent Parking Assist System (IPAS), Adaptive Cruise Control System, Blind Spot Object Detection System, Lane Departure Warning System, Adaptive Front-lighting System, Other System Types
2) By Offering: Hardware, Software
3) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Buses, Trucks
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Regional Insights –
North America was the largest region in the ADAS market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the advanced driver assistance systems (adas) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the advanced driver assistance systems (adas) market report are Continental AG, Nippon Denso Co. Ltd., Magna International, Robert Bosch GmbH, NXP Semiconductors NV, ZF Friedrichshafen AG, Autoliv Inc., Valeo SA, Mobileye Global Inc., Hella KGAA Hueck & Co., Aisin Corporation, Infineon Technologies AG, Hyundai Precision Co. Ltd., Aptiv plc, Gentex Corporation, Texas Instruments Inc., STMicroelectronics NV, Renesas Electronics Corporation, ON Semiconductor Corp, Analog Devices Inc., Melexis NV, Ambarella Inc., Nvidia Corporation, Intel Corporation, Qualcomm Inc., Samsung Electronics Co. Ltd., LG Corporation, Panasonic Corporation, Sony Corporation, Neural Propulsion Systems Inc.
Table of Contents
1. Executive Summary
2. Advanced Driver Assistance Systems ADAS Market Report Structure
3. Advanced Driver Assistance Systems ADAS Market Trends And Strategies
4. Advanced Driver Assistance Systems ADAS Market – Macro Economic Scenario
5. Advanced Driver Assistance Systems ADAS Market Size And Growth
…..
27. Advanced Driver Assistance Systems ADAS Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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