Advanced Driver Assistance Market Size To Reach USD 162.04 Bn By 2032 Driven By Increasing Demand For Vehicle Safety & Automation | Report By SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The Advanced Driver Assistance Systems market is rapidly catching up with the world, as increasing stress is put on vehicle safety and automation, along with regulatory mandates. Right from lane departure warning systems to adaptive cruise control and automatic emergency braking, the ADAS technologies are finding their inclusions in an increasing number of different types of vehicles.

Austin, Sept. 13, 2024 (GLOBE NEWSWIRE) -- The Advanced Driver Assistance Marke t Share is projected to reach USD 162.04 billion by 2032, growing at a CAGR of 12.4% over 2024-2032. The market has observed an increased adoption of Level 2 and Level 3 systems as the push for higher levels of automation continues. From the luxury to the economic segment of vehicles, the ADAS market would form the basis of the future autonomous drive as these technologies are being integrated.

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ADAS systems are already deployed in over 75% of new passenger vehicles in the United States.

This is gaining momentum through the upward trend of consumer preference towards technology enhancing safety. Increasing consumer awareness about vehicle safety, along with increased ADAS penetration in mid-range vehicles, further enhances market demand. The U.S. government has actively been enforcing stringent safety regulations, such as mandating AEB and lane departure warning systems in new vehicles, thereby expected to boost the adoption of ADAS.

By 2026 over 60% of new vehicles sold in the U.S. have some form of ADAS.

The autonomous driving trend driven by demand for features like adaptive cruise control and blind-spot detection is forcing manufacturers to include more advanced features in ADAS, since almost 40% of U.S. consumers said they would prefer semi-autonomous vehicles over traditional vehicles. More sophisticated in-cabin safety features have become in high demand due to this reason, and 65% of prospective car buyers in a recent survey showed that they would give priority to the car with advanced driver assistance technologies.

Key Market Segments:

By Vehicle Type

• Passenger Vehicles
• Commercial Vehicles
• Trucks
• Buses

By System Type

• Adaptive Cruise Control
• Adaptive Front Light
• Adaptive Emergency Braking
• Blind Spot Detection
• Cross-traffic alert
• Traffic Jam Assist
• Others

By Electric Vehicle Type

• BEV
• FCEV
• HEV
• PHEV

By Level of Autonomy

• L1
• L2
• L3
• L4
• L5

By Offerings:

• Hardware
  • Camera Unit
  • Radar Sensor
  • Ultrasonic Sensor
  • LiDAR
  • ECU
  • Others
• Software
  • Middleware
  • Application Software
  • Operating System

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The commercial vehicle segment, too, is showing strong growth , as fleet operators are making greater investments in ADAS to cut down accident-related costs and, therefore, efficiently improve operational efficiency. Furthermore, the improvement of sensor technologies, especially in the fields of radar and LiDAR, has contributed to decreasing costs and thereby making ADAS more viable across segments.
BEVs segment continue to lead in the adoption of ADAS technologies, with about 68% of new BEVs adopting features like adaptive cruise control and lane-keeping assistance.

The drivers for such a high integration rate include demand for increased safety and autonomous driving. FCEVs, though at their starting years, have been able to show a developing adoption rate of about 12%, due to their appeal in markets with large hydrogen infrastructure initiatives. HEVs, at close to 50% of ADAS integration, are preferred since they allow both the balance between traditional and electric power, thus appealing to the consumer basis in terms of efficiency and reduced emissions. While PHEVs have a 45% adoption rate, that may be in part due to their dual capability in electric and gasoline power, finding versatility in both urban and long-distance driving.

North America Regional Dynamics| Key driving factors and Growth Indicators:

The U.S. is leading the North American region, accounting for almost 75% of the ADAS adoption in the region due to the heavy presence of key automotive manufacturers and technological advancement. While the adoption rate of ADAS is increasing in Canada, too, where installations of these systems have grown by 20% year over year, the major share is held by the increasing awareness about road safety and government-related initiatives taken.
All these factors and increasing regional collaborations amongst automotive OEMs and technology providers further accelerate the integration of ADAS in vehicles across the region.

Competitive Landscape:

The competition and partnerships between automakers and technology companies decide the competitive landscape for the fast-tracking deployment of features in autonomous driving. For instance, over 40% of leading automotive manufacturers at Tier-1 form alliances with technology companies to develop L2+ and L3 automation systems; this underlines the strategic place ADAS occupies in future vehicle platforms.

Moreover, about 35% of ongoing ADAS development aims to improve V2X, a crucial requirement for better traffic management and safety. Additionally, there is increased demand for advanced safety features hence, the incorporation of ADAS components, such as radar sensors and cameras, in new vehicles has grown about 28% year over year.

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Key Takeaways:

• Lane departure warning, auto emergency braking, and adaptive cruise control are currently installed on over 45% of all new vehicles sold worldwide.
• The trend is further being driven with the help of the government initiative in the mandate for safety technologies, especially in regions like Europe and North America.
• The increasing integration of AI and machine learning within ADAS enhances the ability of the system to predict and act against potential hazards, thereby boosting the overall vehicle safety by around 30%.
• There is also a shift that is being done toward higher levels of automation in the marketplace, with Level 2 and Level 3 systems accounting for approximately 25% of the ADAS market share.
• Innovation in the automotive industry is continuing, and the ADAS marketplace will be the epicenter of it all in the transition process.

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