Global ADAS And Autonomous Driving Component Market Size, Share And Trends

(MENAFN- Straits Research) Despite offering a wide range of options, the rise in on-road vehicles makes it more difficult to transport people and goods securely. Recent technological advancements in the automotive sector are expected to advance the idea of vehicle safety on public roads. The dynamic evolution of the automotive industry can be attributed primarily to shifting consumer preferences, a focus on driver safety, environmental issues, and stringent regulatory requirements that emphasize crash avoidance rather than crash survival. These advancements have caused an increase in the number of vehicles on the road, hence increasing the need for safer automobile travel. The early incorporation of advanced driver assistance systems (ADAS) in automobiles is intended to improve vehicle safety on public roads. Automakers are projected to evolve from ADAS-equipped to semi-autonomous vehicles and, eventually, to completely autonomous vehicles.
Market Dynamics
Growing Car Safety Regulations and Demand for Advanced Driver-Assistance Systems Drives the Global Market
The market for advanced driver assistance systems (ADAS) will expand due to consumer awareness of vehicle safety ratings significantly rising and the widespread use of cameras and radars. Major original equipment manufacturers are implementing ADAS technologies to increase their safety ratings and attract more clients. As a result, leading original equipment manufacturers (OEMs) either incorporate safety measures as a standard feature across all models or provide them as optional extras. As a result, there will be an increase in demand for parts like cameras, radar sensors, ultrasonic sensors, and LiDAR.
The public and regulatory interest in safety applications that safeguard drivers and avert accidents are expected to increase demand for advanced driver-assistance systems (ADAS), which assist with monitoring, warning, braking, and steering tasks. A recent McKinsey survey reveals that consumers are becoming more interested in ADAS applications, such as parking assistance and blind-spot monitoring, that improve comfort and fuel efficiency. Although ADAS applications are still in their infancy, original equipment manufacturers (OEMs) and their suppliers are aware of their potential to become both a distinguishing feature of automobile brands and a significant source of revenue. Additionally, the same technology that underpins ADAS products are applied to the development of fully autonomous vehicles, which are currently a top priority for OEMs and high-tech companies that have just recently entered the automotive industry like Google. Therefore, if self-driving cars become widely accessible on the market, any ADAS system that receives early support may have a competitive advantage.
Emergence of Self-Driving Technology Creates Tremendous Opportunities
The introduction of autonomous vehicles is expected to transform daily commutes completely. Driving has become less complicated due to technological advancements in ADAS systems, including lane monitoring, emergency braking, stability controls, and many others. Autonomous vehicles rely on cutting-edge systems and technology for information gathering, including LiDAR, radar, ultrasonic sensors, and high-definition cameras. To safely navigate the vehicle, a clever autonomous driving system that is built into the vehicle analyzes this data. Tesla, Volkswagen, Ford, General Motors, and Waymo will all release fully autonomous versions of their cars in the upcoming years.
Regional Analysis
North America dominates the global ADAS and autonomous components market
with a significant CAGR during the forecast period. Federal attempts to raise road safety requirements, strong demand for automated vehicles, and growing manufacturing operations in the U.S. and Canada are anticipated to drive the growth of the autonomous vehicle market in North America. Consequently, this increase in driverless vehicles will improve the North American market for ADAS and autonomous driving components. In addition, an upsurge in the number of luxury automobiles (ADAS vehicles) such as BMW, Audi, Mercedes-Benz, and Volvo, among others, is anticipated to stimulate market expansion.
Key Highlights

The global ADAS and autonomous driving component market was valued at USD 23.8 billion in 2021. It is projected to reach USD 66.5 billion by 2030, growing at a CAGR of 12.1% during the forecast period (2022–2030).
Based on vehicle type, the market is segmented into passenger, light commercial vehicles (LCV), and heavy commercial The passenger vehicle category is anticipated to maintain market dominance due to the increasing demand for safe, high-performance automobiles.
Based on the component, the market is segmented into camera units, LiDAR, radar sensor, ultrasonic sensor, and infrared sensor. The radar sensor is the most dominant in this segment and is anticipated to grow during the forecast period.
Based on propulsion,
the market is segmented into Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle, Hybrid Electric vehicles (HEV), and Fuel Cell Electric vehicles (FCEV). Electric-based propulsion systems are growing substantially due to their highest incorporation of ADAS and autonomous driving components.
North America dominates the global ADAS and autonomous components market with a significant CAGR during the forecast period.

Competitive Analysis
The global ADAS and autonomous driving component market's major key players are

Autoliv Inc
Continental AG
Aptiv PLC
DENSO Corporation
Magna International Inc
Murata Manufacturing Co. Ltd
Quanergy Systems Inc
Robert Bosch GmbH
Valeo
ZF Friedrichshafen AG
Analog Device, Inc
Infineon Technologies AG
Intel Corporation
NXP Semiconductors
Texas Instruments Incorporated Continental AG
Ibeo Automotive Systems GmbH
Denso Corporation
LeddarTech
Velodyne LiDAR

Recent Developments

June 2022- Autoliv and the Malaysian Institute of Road Safety Research collaborate to save more lives.
June 2022- Continental complements the ContiOnlineContact dealer portal by launching a smartphone app.
May 2022- DENSO,Honeywell
Co-Develop
E-Motor
for
Lilium's
All-Electric
May 2022- Magna's Surround View System Launches on All-New Toyota Tundra.

Global
ADAS and Autonomous Driving Component Market:
Segmentation
By Vehicle Type

Passenger Car
Light Commercial Vehicle
Truck
Bus

By Component

Camera Unit
LiDAR
Radar Sensor
Ultrasonic Sensor
Infrared Sensor

By Propulsion

Battery Electric Vehicles (BEV)
Hybrid Electric Vehicles (HEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Fuel Cell Electric Vehicle (FCEV)

By Regions

North America
Europe
Asia-Pacific
LAMEA

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