Global Advanced Driver Assistance Systems Markets, 2021-2028: Growing Demand for Embedded Vision Systems in Vehicles & Rising Adoption of Autonomous Vehicles - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Advanced Driver Assistance Systems Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Sensor Type, Technology Type, and Vehicle Type" report has been added to ResearchAndMarkets.com's offering.

The global automotive Advanced Driver Assistance Systems (ADAS) market is expected to grow from US$ 43,138.44 million in 2021 to US$ 183,814.84 million by 2028.

Technological breakthroughs, the presence of significant companies, a greater acceptance rate of new technologies, increased manufacturing infrastructure, and improved economic circumstances in the region are driving the growth of the automotive advanced driver assistance systems (ADAS) market.

The high prevalence of road accidents and increasing sales of high-end automobiles in the area drive the demand for improved driver safety technologies in countries such as the US and Canada. Thus, the increase in the demand for ADAS systems drives the growth of the automotive advanced driver assistance systems (ADAS) market.

The automotive advanced driver assistance systems (ADAS) market in North America is spread across the US, Canada, and Mexico. North America has a developed automotive industry due to the continuous production of commercial vehicles. For instance, as per the Organisation Internationale des Constructers d'Automobiles (OICA) 2021 report, the US produced a total of commercial vehicles of 7,604,154 in 2021; 6,895,604 in 2020; and 8,367,239 in 2019.

Similarly, Canada produced a total of commercial vehicles 826,767 in 2021; 1,048,942 in 2020; and 1,455,215 in 2019, as per the OICA 2021 report. Also, Mexico produced a total of commercial vehicles of 2,437,411 in 2021; 2,209,121 in 2020; and 2,604,080 in 2019, as per the same report. The US, Canada, and Mexico are leading in the commercial vehicle production segment worldwide, as per OICA statistics.

Thus, with the continuous production of commercial vehicles across the region, the need for automotive advanced driver assistance systems is increasing significantly, supporting the growth of the automotive advanced driver assistance systems (ADAS) market in North America.

The automotive advanced driver assistance systems (ADAS) market in North America is fragmented, with many major players such as Bosch, Continental AG, and Visteon Corporation. The automotive advanced driver assistance systems (ADAS) market is rapidly changing, and numerous new technologies will emerge in the coming year to challenge the present ones.

To deliver the finest safety features to the driver, ADAS technology firms and automobile manufacturers extend their market presence and strengthen their R&D efforts. For instance, Hyundai Motor Group and Aptiv will form a joint venture in 2020. The JV will work on bringing the SAE Level 4/5 platform to market for rob taxis, fleet operators, and manufacturers.

Similarly, BMW launched the 330e and 330e xDrive plug-in hybrids in 2020. Its ADAS incorporates active cruise control with stop and go, which automatically accelerates and slows to maintain the driver's chosen pace. Active guard, frontal collision warning, city collision mitigation, and lane departure warning are standard features. These factors are leading to the automotive advanced driver assistance systems (ADAS) market growth.

Key Market Dynamics

Market Drivers

• Growing Demand for Safety and Driving Comfort Features
• Rising Adoption of Integrated Radar and Camera Systems

Market Restraints

• Lack of Required Infrastructure for ADAS in Developing Countries

Market Opportunities

• Rising Adoption of Autonomous Vehicles

Future Trends

• Growing Demand for Embedded Vision Systems in Vehicles

Company Profiles

• Continental AG
• Cypress Semiconductor Corporation
• First Sensor AG (TE Connectivity)
• Harman International (Samsung Group)
• Hitachi, Ltd.
• MG Motor India Private Limited
• NVIDIA Corporation
• Robert Bosch GmbH
• Telefonaktiebolag

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