Human mistake causes nearly all automobile accidents, which can be avoided by Advanced Driver Assistance Systems (ADAS). The role of ADAS is to reduce the number of auto accidents and the severity of those that cannot be prevented in order to prevent deaths and injuries.
Advanced Driver Assistance System ADAS Market Dynamics:
Because of the rise in traffic accidents, there is a greater demand for safety features such as parking assistance, collision avoidance systems, lane departure warning, traction control, electronic stability control, tyre pressure monitoring, airbags and telematics. Vehicles equipped with the ADAS system can recognise and classify certain road objects, inform the driver based on road conditions, and, in some situations, automatically slow down or stop the vehicle. The number of people killed in car accidents has risen dramatically. According to the World Health Organisation, around 1.25 million people die in traffic accidents each year. Furthermore, the number of fatal road accidents among teenagers is higher. These elements are driving the demand for car safety features. Automobile manufacturers are designing and deploying safety measures to fulfil the needs of their customers.
Advanced Driver Assistance System ADAS Market Overview:
Advanced Driver Assistance System ADAS Market Research Report examined the current state of definitions, classifications, applications, and the structure of the industrial chain.The market analysis includes objective professional commentary on the current market condition, historical market performance, production and consumption rates, demand and supply ratios, and income generation estimates for the projected term. The Advanced Driver Assistance System ADAS Market report also provides information on the industry's main businesses' strategic aspirations and company growth strategies. To summarise what has been mentioned thus far, the report presents a detailed picture of the Advanced Driver Assistance System ADAS market on both a national and regional scale.
Advanced Driver Assistance System ADAS Market size was valued at US$ 25.58 Billion in 2022 and the total Advanced Driver Assistance System (ADAS) Market revenue is expected to grow at 16.5% through 2023 to 2029, reaching nearly US$ 74.51 Billion.
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Advanced Driver Assistance System ADAS Market Segmentation:
Leading OEMs incorporate ADAS technologies to improve security and attract more customers. As a result, standardise safety systems across models or provide them as an optional feature. The main drivers driving the growth of the ADAS market are increased safety awareness and an increase in the number of accidents, and demand for radar sensors is increasing in major nations such as China, the United States, and Europe. The use of 24GHz radar in the 5GHz band is prohibited by the Federal Communications Commission (FCC) and the European Telecommunications Standards Institute (ETSI). After 2022, the 24 GHz band will no longer be available in Ultra Wide Band (UWB).To increase dependability and regulatory compliance, major OEMs and Tier 1 auto parts manufacturers are transitioning to long-range 77 GHz radar. This should enhance demand for radar sensors in the market for advanced driver assistance systems (ADAS). Furthermore, rising interest in collision avoidance systems in semi-automatic driving systems is likely to boost demand for radar sensors over the projection period.
The passenger car category is a significant contributor to the market for advanced driver assistance systems (ADAS). increasing traffic safety requirements, legal support, and increasing consumer awareness can all lead to increased demand for safety technologies in growing economies. Furthermore, certain nations in Europe, North America, and Asia Pacific have enacted legislation requiring various types of ADAS to be fitted in passenger vehicles. For example, the European Union has proposed Vision Zero, a plan to eliminate traffic fatalities by 2050. The organisation has set a target of cutting casualties by half by 2030.
Advanced Driver Assistance System ADAS Market Regional Analysis:
The Advanced Driver Assistance System ADAS segment of the Advanced Driver Assistance System ADAS The market research contains particular market-affecting aspects as well as changes in market regulation that impact the market's current and future trends. New sales, replacement sales, national demographics, regulatory acts, and import-export taxes are some of the major indicators utilised to estimate the Advanced Driver Assistance System ADAS market scenarios for different locations. Furthermore, the Advanced Driver Assistance System ADAS the market report provides the existence and availability of brands, as well as the challenges they face due to strong or weak competition from local and domestic brands, as well as the influence of sales channels, which are all taken into account when providing forecast analysis of national data.
Advanced Driver Assistance System ADAS Market Key players:
Valeo (France)
Magna International (Canada)
Hyundai Mobis (South Korea)
Veoneer (Sweden)
Robert Bosch (Germany)
Continental AG (Germany)
Denso (Japan)
Aptiv (UK)
ZF Friedrichshafen (Germany)
Autoliv Inc. (Sweden)
NXP Semiconductors (Netherlands)
Panasonic Corporation (Japan)
Renesas Electronics Corporation (Japan)
Texas Instruments (USA)
Delphi Automotive Company (USA)
Hyundai Mobis (South Korea)
Takata Corporation (Japan)
ZF Friedrichshafen AG (Germany)
Aisin Seiki Co., Ltd. (Japan)
Mobileye N.V (Jerusalem)
Harman International Industries (USA)
NVIDIA Corporation(USA)
Hitachi Ltd. (Japan)
Stonkam Co., Ltd. (China)
Advanced Driver Assistance System ADAS Market research report offers:
- The Advanced Driver Assistance System ADAS a market research report offers a variety of information, such as market dynamics, scenarios, and prospects for the forecast period.
- Segments and subsegments contain quantitative, qualitative, value (USD Million), and volume (Units Million) statistics.
- Demand and supply trends, as well as their impact on the Advanced Driver Assistance System ADAS market, are captured in data at the regional, sub-regional, and country levels.
- A share of key companies, new breakthroughs, and approaches have been incorporated in the competitive landscape.
- Important financial data, recent breakthroughs, SWOT analysis, and strategies of the Advanced Driver Assistance System ADAS industry participants.
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