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Redding, California - October 31, 2022

ADAS Market Worth $40.2 Billion by 2029

ADAS Market by System Type, Component (Sensors, Actuators), Vehicle Automation, Vehicle Type, End User, and Geography - Global Forecast to 2029


Meticulous Research®—a leading global market research company, published a research report titled, ‘ADAS Market by System Type, Component (Sensors, Actuators), Vehicle Automation, Vehicle Type, End User, and Geography - Global Forecast to 2029.’

The ADAS Market is projected to reach $ 40.2 billion by 2029, at a CAGR of 21.6% from 2022 to 2029. The growth of this market is attributed to the increasing ADAS adoption due to stringent safety regulations and rising demand for luxury vehicles & safety and driving comfort features. Furthermore, the emergence of autonomous vehicles, increasing development in autonomous shared mobility, and the rising adoption of electric vehicles are expected to create significant opportunities for the players operating in this market.

However, the high cost of ADAS and environmental & security risks pose challenges to the growth of this market. Additionally, the lack of required infrastructure in developing countries is restraining market growth.

The global ADAS market is segmented based on system type, vehicle automation, vehicle type, end user, and geography. The study also evaluates industry competitors and analyses the regional and country-level markets.

Based on system type, the global ADAS market is segmented into adaptive cruise control system (ACCS), blind spot detection system (BSDS), automatic parking system (PAS), lane departure warning system (LDWS), tire pressure monitoring system (TPMS), automatic emergency braking system (AEBS), adaptive front lights system (AFLS), traffic sign recognition system (TSRS) forward collision warning system (FCWS), driver monitoring system (DMS), night vision system (NVS), pedestrian detection system (PDS), and traffic jam assistance systems (TJAS).

In 2022, the tire pressure monitoring system (TPMS) segment is expected to account for the largest share of the Advanced Driver Assistance Systems Market. The large share of the segment is attributed to the low cost of these systems. TPMS integration is a standard in all major automotive markets, including North America, European countries, and some Asia Pacific countries.

In Europe, TPMS was previously only mandatory in passenger cars, which is expected to be in vans, trucks and buses by the end of 2022. China has been standardizing TPMS on all new vehicles since 2019, while Japan, Russia, South Korea and Turkey have already standardized TPMS on new vehicles. Such large-scale regulation of TPMS is accelerating its penetration into major automotive markets.

Based on component, the global ADAS market is segmented into vision (camera) systems, sensors, software, and actuators. In 2022, the sensors segment is anticipated to gain high traction owing to the substantial importance of this component in vehicle automation. The functioning of ADAS is primarily dependent on sensors and their functional accuracy. LiDAR, RADAR, ultrasonic sensors, cameras, and other sensors work together to perform the desired assistance and safety function. Different technologies are combined to improve ADAS capabilities with each sensor type's recognized strengths and weaknesses. Sensor coupling is becoming more and more standard. Therefore, the task of processing data from multiple sources in ADAS is done accurately and quickly.

Based on vehicle automation, the global ADAS market is segmented into Level 1, Level 2, Level 3, Level 4, and Level 5. In 2022, the Level 2 segment is expected to account for the largest share of the ADAS market. Level 2 automation is preferred widely in ADAS because it is recognized by the Society of Automotive Engineers (SAE) levels and is an important category that offers advanced performance at an affordable price. Level 2 includes functions driven by the vehicle's systems, but the driver still needs to monitor the vehicle. Level 2 automation has strong consumer interest because drivers can take their hands off the wheel and their eyes off the road for a while without compromising safety.

Based on vehicle type, the global ADAS market is segmented into electric and internal combustion engine (ICE) vehicles. In 2022, the electric vehicles segment is expected to account for the largest share of the ADAS market. The large market share of this segment is attributed to the stringent government regulations to adopt electric vehicles and growing fleet electrification to reduce carbon footprints. Moreover, the rising number of accidents, careless driving, and safety concerns have encouraged technological advancements in the automotive industry, which is expected to witness high segmental growth in the coming years.

Based on end user, the global ADAS market is segmented into passenger and commercial vehicles. In 2022, the passenger vehicles segment is expected to account for the largest share of the ADAS market. The large market share of this segment is attributed to the increasing demand for safety systems in developing markets due to growing consumer awareness, supporting legislation, and improving road safety standards.

Based on geography, the global ADAS market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is expected to account for the largest share of the ADAS market. The region's large share is attributed to the increased use of advanced electronics and automobile production in countries such as Japan, China, and South Korea. Government initiatives such as implementing emergency braking systems and adaptive cruise control systems to facilitate market entry for OEMs, thereby strengthening market growth.

Key Players

The key players profiled in the global ADAS market study include Autoliv, Inc. (Sweden), Continental AG (Germany), Denso Corporation (Japan), Garmin Ltd. (U.S.), Infineon Technologies AG (Germany), Magna International Inc. (Canada), Mobileye B.V. (Israel), Robert Bosch GmbH (Germany), Valeo SA (France), Aptiv PLC (Ireland), ZF Friedrichshafen AG (Germany), AISIN CORPORATION (Japan), BorgWarner Inc. (U.S.), HELLA GmbH & Co. KGaA (Germany), Huawei Technologies Co., Ltd. (China), Qualcomm Technologies, Inc. (U.S.), Microsoft (U.S.) and NXP Semiconductors N.V. (Netherlands).

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Key Questions Answered in the Report:

  • Which are the high-growth market segments in system type, vehicle automation, vehicle type, end-user and geography?
  • What is the historical market size for ADAS across the globe?
  • What are the market forecasts and estimates for the period 2022–2029?
  • What are the major drivers, restraints, opportunities, and challenges in the global Advanced Driver Assistance Systems market?
  • Who are the major players in the market, and what are their market shares?
  • How is the competitive landscape for the global ADAS market?
  • What are the recent developments in the global ADAS market?
  • What are the different strategies adopted by the major players in the market?
  • What are the key geographic trends, and which are the high-growth countries?
  • Who are the local emerging players in the global ADAS market, and how do they compete with other players?

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