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The Commercial Vehicle Advanced Driver Assistance Systems (ADAS) Market size is estimated to grow at a CAGR of 12.39% between 2023 and 2028. The market size is forecast to increase by USD 2.52 billion. The growth of the market depends on several factors such as the introduction of sensor technology, increased electrification of commercial vehicles and the growing development of aftermarket ADAS for CVs.
This commercial vehicle ADAS market report extensively covers market segmentation by technology (Blind spot detection and others, TPMS, PAS, and FCW), application (LCV and HCV), and geography (North America, Europe, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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Our researchers analyzed the data with 2023 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.
Increased electrification of commercial vehicles is notably driving the market growth. The global commercial vehicle ADAS market has witnessed high adoption of electronic solutions in recent times. A similar trend is being witnessed in the advanced driver assistance systems for commercial vehicles market too. For instance, fleet management solutions are witnessing growing demand across the world. Additionally, demand for navigation, safety, and comfort is pushing the adoption of electrical systems in commercial vehicles. Hence, electronic manufacturers have seen a boost in demand for high-speed wiring, connectors, and other electronic technologies to enable various electronic systems in commercial vehicles. In order to meet the demands of connected vehicle technology, mechanical components in a vehicle are increasingly being replaced by electronic components.
Moreover, the automotive industry is leveraging technology from the consumer electronics industry in-vehicle applications. This cross-technology concept tremendously benefited the commercial vehicle industry, and a similar trend is expected to be followed in commercial vehicles. Therefore, the rising electrification of commercial vehicles is expected to drive the growth of the global commercial vehicle ADAS market during the forecast period.
The development of highly accurate map content for commercial vehicle ADAS is an emerging trend shaping the market growth. The automotive ecosystem has been working continuously to improve the functionality of ADAS. The stakeholders are working individually as well as collaboratively for the development of ADAS technologies. 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. The adoption of map data will enhance the functionality of ADAS technologies such as adaptive cruise control ( ACC) and transmission select switch reverse (TSR).
Moreover, the developments toward generating map content for ADAS are also going through other vendors. Such developments in the generation of map content for ADAS are expected to gain crucial traction. This will be a positive factor for the growth of the commercial vehicle advanced driver assistance systems (ADAS) market. Therefore, the development of highly accurate map content for ADAS will propel the growth of the global commercial vehicle ADAS market during the forecast period.
Flexibility issues, testing complexities, and compliance with industry standards a significant challenges hindering market growth. A flexible ADAS development platform is required for their easy adaptability by users to different vehicle types. The migration of existing commercial vehicle ADAS software and control algorithm to commercial vehicles is possible only when the ADAS development platform exhibits flexibility. Therefore, the solution provider needs to exhibit adequate technical capability to carry out massive testing processes and functions. In addition to this challenge, there are many complexities associated with the industry standards that the ADAS solutions provider has to comply with.
In addition to the complexities associated with designing the system (and the ISO standard to be complied with for automotive electric/electronic systems), there are several other industry standards, such as MISRA and Automotive Electronics Council (AEC-Q) that demand compliance prior to acceptance of ADAS by vehicle OEMs. In addition, OEMs use varied standards for data communication that make the development of ADAS tough because the product has to be developed to support several interfaces. Such factors are expected to hinder the market growth during the forecast period.
The market research 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 Commercial Vehicle ADAS Market Customer Landscape
Companies 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.
Aptiv Plc - The company offers commercial vehicle ADAS through smart sensor support for moving people, sensor 360 degree radars, softwar tracks, and smart visionary.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The blind spot detection and others segment is estimated to witness significant growth during the forecast period. Blind spot detection and others in the technology segment include adaptive cruise control lane departure warning systems and autonomous emergency braking systems. Blind spot detection (BSD) is a collision avoidance system that tracks objects in the vehicle's blind spot and alerts the driver about the same.
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The blind spot detection and others segment was the largest and was valued at USD 709.89 million in 2018. The system uses radar, ultrasonic sensors, or rear-end and side cameras to monitor the vehicle's blind spots. The large size of commercial vehicles is a prime cause of the commercial vehicle drivers' poor visibility, which often leads to collisions. BSD systems in commercial vehicles help eliminate such collisions and make roads safer. The penetration of the BSD system is bound to increase as it gets bundled with several ADAS offerings in commercial vehicles. Therefore, blind spot detection and other segments will grow in the global commercial vehicle ADAS market during the forecast period.
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Europe is estimated to contribute 32% 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. Another region offering significant growth opportunities to companies is North America. North America holds a significant share in the commercial vehicle advanced driver assistance systems (ADAS) market. The growth in the regional commercial vehicle advanced driver assistance systems market is driven by the technological advancement in the automotive industry and the higher adoption rate of new technology coupled with the improved economic conditions in the region. The rising concern over safety because of US NCAP and NHTSA has increased the demand for ADASs in commercial vehicles. Also, the TPMS regulatory mandate and imposition of the new rule in 2014 in the US requiring all light vehicles (including cars, SUVs, trucks, and vans) to have a backup camera have been contributing to the growth of the market.
In addition, trucks are the prominent mode of transporting cargo in North America. Sources indicate that approximately 70% of the freight is carried across the US by trucks. Thus, ADASs that positively impact the safety of road commutes will find significant uptake in the US trucking industry. Since commercial vehicle ADAS aids in safer commuting, strong government support is likely to positively impact the growth of the advanced driver assistance systems for the commercial vehicles market. Such factors are expected to drive the regional market during the forecast period.
The COVID-19 pandemic adversely affected the growth of the regional commercial vehicle ADAS market. However, with the resumption of manufacturing operations in the automotive industry and the initiation of large-scale COVID-19 vaccination drives conducted by the government across the region, the regional commercial vehicle ADAS market witnessed steady growth in the first half of 2021, helped to raise the growth momentum of the regional commercial vehicle ADAS market. The increasing fatality rate and rise in the sales of high-end commercial vehicles in countries such as Canada and the US will drive the growth of the commercial vehicle ADAS market in the region during the forecast period.
The commercial vehicle adas market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Commercial Vehicle ADAS Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.39% |
Market Growth 2024-2028 |
USD 2.52 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
10.05 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 32% |
Key countries |
US, Canada, China, Germany, and Spain |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aptiv Plc, Autoliv Inc., Brandmotion LLC, Continental AG, DENSO Corp., Gentex Corp., Hyundai Motor Co., Intel Corp., Knorr Bremse AG, Magna International Inc., Mobileye Technologies Ltd., Panasonic Holdings Corp., Renesas Electronics Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sensata Technologies Inc., Tata Motors Ltd., Valeo SA, Wabtec Corp., and ZF Friedrichshafen AG |
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 the forecast period |
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.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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