The Reports and Insights, a leading market research company, has recently releases report titled “Advanced Driver Assistance Systems (ADAS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Advanced Driver Assistance Systems (ADAS) Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Advanced Driver Assistance Systems (ADAS) Market?
The advanced driver assistance system (ADAS) market was US$ 28.1 Billion in 2022. Furthermore, the advanced driver assistance system (ADAS) market to register a CAGR of 17.1% which is expected to result in a market forecast value for 2031 of US$ 116.3 Billion.
What are Advanced Driver Assistance Systems (ADAS)?
Advanced Driver Assistance Systems (ADAS) are a collection of safety features and technologies that aid drivers in the driving process and improve vehicle safety. These systems utilize sensors, cameras, and radar to detect and respond to potential hazards on the road, such as collisions, lane deviations, and pedestrians. ADAS can alert the driver to dangers or take control of the vehicle to prevent accidents. Common ADAS features include adaptive cruise control, lane-keeping assistance, automatic emergency braking, and blind-spot monitoring. The primary objective of ADAS is to enhance road safety, reduce accidents, and improve the overall driving experience.
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What are the growth prospects and trends in the Advanced Driver Assistance Systems (ADAS) industry?
The advanced driver assistance systems market growth is driven by various factors. The market for Advanced Driver Assistance Systems (ADAS) is experiencing significant growth due to several factors, including the growing demand for vehicle safety features, the increasing adoption of autonomous vehicles, and regulatory requirements for enhanced vehicle safety. ADAS technologies like adaptive cruise control, lane departure warning systems, and automatic emergency braking are increasingly becoming standard features in modern vehicles, improving both safety and driving comfort. Furthermore, advancements in sensor technology, artificial intelligence, and connectivity are driving further market expansion, with a primary focus on reducing accidents and enhancing overall road safety. Hence, all these factors contribute to advanced driver assistance systems market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Type:
- Parking Assist System
- Adaptive Front-lighting
- Night Vision System
- Blind Spot Detection
- Advanced Automatic Emergency Braking System
- Collision Warning
- Driver Drowsiness Alert
- Traffic Sign Recognition
- Lane Departure Warning
- Adaptive Cruise Control
By Technology:
- Radar
- Lidar
- Camera
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
By Applications:
- Transportation and Logistics
- Agriculture
- Construction
- Mining
- Public Transportation
- Security
By Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Poland
- Benelux
- Nordic
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- ASEAN
- Australia & New Zealand
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- Saudi Arabia
- South Africa
- United Arab Emirates
- Israel
- Rest of MEA
Who are the key players operating in the industry?
The report covers the major market players including:
- Renesas Electronics Corporation
- NXP Semiconductors
- Panasonic Holdings Corporation
- Valeo SA
- Denso Corporation
- Robert Bosch GmbH
- Continental AG
- Texas Instruments Incorporated
- Magna International Inc.
- AUTOLIV INC.
- Infineon Technologies AG
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