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The automotive advanced driver assistance system (ADAS) market size is estimated to grow at a CAGR of 9.3% between 2022 and 2027. The market size is forecast to increase by USD 25,673.24 million. The growth of the market depends on several factors, including the decline in sensor prices, the increase in travel time, and the stringent regulations promoting the adoption of ADAS.
This automotive advanced driver assistance system (ADAS) market report extensively covers market segmentation by application (passenger cars and commercial vehicles), technology (AEBS, TPMS, PAS, LDWS and others), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The decline in sensor prices is notably driving the market growth, although factors such as the high costs associated with the service and maintenance of ADAS may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the ADAS market growth is the decline in sensor prices. The price of displays witnessed a significant reduction in the last decade, owing to wide adoption from the consumer electronics and automotive segments, which allowed automotive OEMs to reduce the overall price of infotainment systems used in vehicles, further gaining penetration in the market. Moreover, the growth of the automotive industry is a primary driver fueling the market growth.
The reduced prices are allowing vendors to develop cost-effective ADAS technologies for customers. This is becoming a crucial driver for the growing demand for ADAS in the automotive industry. Moreover, reducing the prices of cameras, radars, and LiDAR sensors is becoming a crucial driver for making ADAS products affordable. ADAS manufacturers are able to develop compact products for a wide range of customers. Hence, the decline in sensor prices is a crucial driver for the growth of the global automotive ADAS market during the forecast period.
Another key factor driving the ADAS market growth is the integration of map contents in ADAS. The automotive ecosystem has been working continuously to improve the functionality of ADAS. For instance, TomTom International BV (TomTom International) developed the TomTom ADAS Map that provides relevant map data to ADAS systems as a new source of data. This is in addition to the traditional approach, where ADAS takes data from the onboard sensors. The additional data source in the form of map content allows ADAS to anticipate the road ahead and make decisions that are beyond the line-of-sight limitations of sensor technologies. Adopting map data will enhance the functionality of ADAS technologies such as ACC and TSR.
For instance, in January 2019, TomTom International announced a collaboration with DENSO Corp. (DENSO) to develop autonomous driving systems using its HD Map. Such developments in the generation of map content for ADAS are expected to gain crucial traction during the forecast period, which will improve the performance of automotive ADAS products. This will be a positive factor for the growth of the market in focus during the forecast period.
High costs associated with service and maintenance are one of the key challenges hindering the ADAS market growth. Although automotive ADAS has been available for decades, its adoption is dependent on the maintenance and service costs as vehicles with ADAS are expensive to repair. The high repair cost impacts ADAS adoption in emerging countries, where customers are price sensitive. As emerging economies are frontrunners in new vehicle sales, there is an urgent need to reduce the service and maintenance cost of ADAS. Even customers in developed economies such as the US are worried about the high repair cost of ADAS.
For instance, in the US, the service and maintenance cost of radar sensors used in AEBS and ACC is above USD 900, while the repair cost of rear radar sensors for BSD and rear cross-traffic alert is about USD 2,000. This cost is significantly high for customers, which hinders the customer preference for adopting ADAS. This is negatively impacting the growth of the global automotive ADAS market.
The ADAS report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Advanced Driver Assistance System (ADAS) Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aisin Corp : The company offers advanced driver assistance system solutions such as an Automated parking system, Automated emergency brake system, and driver monitoring system.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the passenger cars segment will be significant during the forecast period. The passenger cars segment is the largest adopter of ADAS technologies in the automotive industry, owing to the growing adoption of these technologies by automotive OEMs to increase the safety ratings of their vehicles and the need to differentiate their products due to the growing competition in the automotive industry.
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The passenger cars segment was valued at USD 27,656.20 million in 2017 and continued to grow until 2021. Developed regions such as North America and Europe have the highest adoption of ADAS technology in the passenger vehicle segment. These regions have strict security standards that encourage the adoption of these technologies. For example, in the United States, the National Highway Traffic Safety Administration (NHTSA) five-star safety rating program focuses on ADAS technologies such as AEBS, FCWS, LDWS, TPMS, and reverse video systems. Therefore, automotive OEMs launching new models in the US are increasingly adopting these ADAS technologies, fueling the growth of the passenger car segment of the global automotive ADAS market.
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Europe is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In this regional market, vehicular safety functions in countries such as Germany, France, Italy, Spain, and the UK. Europe is home to leading global automotive manufacturers and major luxury brands such as BMW, AUDI AG (AUDI), and Daimler. This makes Europe one of the largest adopters of ADAS. Also, strict vehicle safety norms implemented by the European Commission, which mandated safety technologies in vehicles, will drive market growth in the region.
The COVID-19 outbreak severely affected the global automotive components and accessories market's growth in 2020. However, vehicle parts and accessories sales soared in 2021 due to the relaxation of the ban on trade and the removal of lockdowns. This is anticipated to result in a rise in demand for automotive parts and accessories throughout the forecast period, which would favorably affect the market expansion of the global automotive components and accessories market.
The automotive advanced driver assistance system market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global automotive advanced driver assistance system (ADAS) market as a part of the global automotive components and accessories market within the global auto components market. The global automotive components and accessories market covers companies engaged in the production of parts and accessories for automobiles like passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Automotive Advanced Driver Assistance System (ADAS) Market Scope |
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Report Coverage |
Details |
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Page number |
182 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.3% |
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Market growth 2023-2027 |
USD 25,673.24 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.79 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 38% |
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Key countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aisin Corp., Autoliv Inc., BorgWarner Inc., Continental AG, DENSO Corp., Gentex Corp., Harman International Industries Inc., HELLA GmbH and Co. KGaA, Hyundai Motor Co., Infineon Technologies AG, Intel Corp., Magna International Inc., NXP Semiconductors NV, Panasonic Holdings Corp., Renesas Electronics Corp., Robert Bosch GmbH, Valeo SA, Veoneer Inc., ZF Friedrichshafen AG, and Aptiv Plc |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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