Automotive ADAS Sensors Market to record growth of USD 49.15 billion between 2022 and 2027 | Europe to occupy 32% of market share | Technavio

NEW YORK, Feb. 12, 2024 /PRNewswire/ -- The automotive ADAS sensors market size is forecast to increase by USD 49.15 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 23.33%, according to a recent market study by Technavio.  Europe is projected to account for 32% of global market expansion in the forecast period, making it a pivotal hub for technology adoption, especially in the automotive sector. Renowned global automobile manufacturers and luxury brands such as BMW, Audi, and Mercedes-Benz contribute to Europe's prominence. Stringent vehicle safety regulations in the region necessitate the integration of advanced safety technologies, fueling the demand for sensors. The escalating incidence of road accidents prompts automakers to prioritize the installation of safety systems. Moreover, Eastern European emerging economies exhibit a substantial uptake of these systems, bolstering regional market growth. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

• Progression toward autonomous vehicles is a key driver for the growth of the market during the forecast period. 
• The growing popularity of CMOS image sensors in camera-based ADAS is an emerging market trend. 
• High costs associated with ADAS technologies challenge the growth of the automotive ADAS sensors market during the forecast period. 

Technavio has extensively analyzed 15 major vendors, including Aptiv, Asahi Kasei Corp., Autoliv Inc., Continental AG, Denso Corp., Gentex Corp., HELLA GmbH and Co. KG, Henkel AG, and Co. KGaA, Infineon Technologies AG, LeddarTech Inc., Magna International Inc., OMNIVISION Technologies Inc., ON Semiconductor Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Siemens AG, Sony Group Corp., STMicroelectronics NV, Teledyne Technologies Inc., and Texas Instruments Inc. Get a holistic overview of the Global Automotive ADAS Sensors Market from industry experts to evaluate and develop growth strategies. Download the Sample

Segmentation Analysis

This research report extensively covers segmentation by Product (radar sensor, /image sensor, ultrasonic sensor, infrared sensor, and lidar sensor), Application (passenger vehicle and commercial vehicle), and Geography (Europe, North America, APAC, South America, and Middle East and Africa).

• The growth by the radar sensor segment will be significant for the growth during the forecast period. The application of this segment is primarily within the ADAS and the autonomy domain. This segment holds the highest share among all other types of ADAS sensors available in the market today. A few ADAS technologies where radar sensors are used include Advanced emergency braking systems (AEBS), Collision avoidance systems (CAS),  Adaptive cruise control (ACC), Pedestrian protection systems (PPS), Lane departure warning systems (LDWS), etc. Hence, such factors will drive the industry. To get detailed insights about inclusions and exclusions, buy the report 

What are the key data covered in this report?

• CAGR during the forecast period
• Detailed information on factors that will drive the growth between 2023 and 2027
• Precise estimation of the size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the industry across Europe, North America, APAC, South America, and Middle East and Africa
• A thorough analysis of the competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of vendors

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Automotive safety systems leverage a combination of lidar, radar, camera, ultrasonic, and infrared sensors to enhance driver awareness and prevent accidents. Adaptive cruise control (ACC) maintains safe distances from vehicles ahead, while blind spot detection (BSD) alerts drivers to unseen vehicles. Lane departure warning (LDW) systems mitigate unintentional lane drifts, and collision avoidance systems use sensor data to anticipate and avert potential crashes. Additionally, traffic sign recognition (TSR) enhances road awareness. Collectively, these technologies form a comprehensive safety net, ensuring safer journeys and reducing the risk of collisions on the road.

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.

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SOURCE Technavio

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