Global ADAS Market to Reach $97.49 Billion by 2027 at a CAGR of 12.37%

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Oct 18, 2022, 10:15 ET

DUBLIN, Oct. 18, 2022 /PRNewswire/ -- The "Global ADAS Market By Vehicle Type (Passenger Car, Commercial Vehicle), By Sensor Type (Radar, Ultrasonic, Camera, and Lidar), By Level Of Autonomy (Level 1, Level 2, Level 3, Level 4, and Level 5), By Function, By Region Competition Forecast and Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.

The global ADAS market was valued at USD49.50 billion in 2021 and is forecast to grow at a CAGR of 12.37% to reach USD97.49 billion in the year 2027. ADAS (Advanced Driver Assistance System) is designed for the safety/protection of road users.

Stringent Government Policies

In the world, there are various organizations that are involved in ensuring vehicle safety. These organizations have been steadily incorporating more and more ADAS-related protocols and standards. In Europe, North America, and other parts of the world these organizations are mandating automotive safety measures, and defining, and refining regulations. One such organization is the "Society of Automotive Engineers" (SAE), which is the international authority that releases the standards which are used by 120,000 members all around the world, in the automotive and aerospace domains.

According to this organization, there are some standards related to automated driving and ADAS which are J3016 Taxonomy which is related to On-Road Motor Vehicle Automated Driving Systems, J3134 ADAS Equipped Vehicle Signal and Marking Lights which is at nascent stage.

Increasing Safety Concerns Among the Customers

The advanced driver assistance System (ADAS) is very helpful to improve roadway safety. The EU road accidents database in Europe on average, registered 44 road deaths per million inhabitants in 2021, which represent a 5% increase compared to 2020. On average, around 1.3 million people die each year as a result of road traffic crashes. According to the World Health Organization (WHO), the reason behind the several hundreds of deaths is human error caused due to drowsiness, driving under influence of intoxicants, talking on mobile, etc, while driving the cars.

All these and more factors cause 90% of the road accidents. Seeing these all-factors, car manufacturers are trying to make and develop systems & technologies that will help to make road trips safer, smoother, and more comfortable. The "Advanced Driver Assistance System" (ADAS) is coming up as the main reason, which is reducing the risk of road accident sand increasing the safety of the passengers as it includes the safety systems and advanced technologies to accompany and assist the driver while driving. The currently available ADAS technologies could prevent or mitigate the effects of 1.8 million crashes each year worldwide, thereby protecting up to 10,000 lives per year, according to the Insurance Institute for Highway Safety (IIHS).

Competitive Developments with Manufacturer's Attention On ADAS

Seeing the demand for vehicles having advanced features can help the driver to reduce the chance of an accident. Due to an increase in adaptation of the ADAS in vehicles, many investors are investing in this technology. Companies such as ZF Friedrichshafen AG ("ZF") which is a German-based automotive technology supplier, have recently invested in StradVision company, by taking 6% stake in the company, StradVision is developing AI-powered computer vision technology for autonomous vehicles and advanced driver assist system (ADAS).

Report Scope:In this report, global ADAS market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Global ADAS Market, By Vehicle Type:

Passenger Car
Commercial Vehicle

Global ADAS Market, By Sensor Type

Radar
Ultrasonic
Camera
LiDAR

Global ADAS Market, By Level of Autonomy:

Level1
Level 2
Level 3
Level 4
Level 5

Global ADAS Market, By Function:

Collision Avoidance
Adaptive Cruise Control
Lane Departure Warning System
Rear cross Traffic Assistance
Emergency Braking
Intersection Assistance
Automatic Speed Limit
Park Assistance
Others

Global ADAS Market, By Region:

Europe
Germany
Spain
Russia
France
United Kingdom
Slovakia
Italy
Asia-Pacific
China
Japan
India
South Korea
Indonesia
Thailand
Malaysia
Vietnam
North America
United States
Mexico
Canada
South America
Brazil
Argentina
Colombia
Middle East & Africa
Iran
Turkey
South Africa
Egypt

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Impact of COVID-19 on Global ADAS Market

5. Voice of Customer

6. Global ADAS Market Outlook

7. Europe ADAS Market Outlook

8. Asia-Pacific ADAS Market Outlook

9. North America ADAS Market Outlook

10. South America ADAS Market Outlook

11. Middle East & Africa ADAS Market Outlook

12. Market Dynamics

13. Market Trends and Developments

14. Competitive Landscape

15. Strategic Recommendations

Companies Mentioned

Continental AG
Robert Bosch GmbH
Autoliv Inc
ZF Friedrichshafen
Aptiv PLC
AISIN Corporation
HELLA Gmbh & Co. KGaA
ARM Limited
Denso corporation
Ambarella International LP

For more information about this report visit https://www.researchandmarkets.com/r/54uowk

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Research and Markets
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SOURCE Research and Markets