Global Advanced Driver Assistance Systems (ADAS) Market Size/Share Worth USD 81.17 Billion by 2032 at an 18.2% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

Jan 22, 2024

Austin, TX, USA, June 05, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled "Advanced Driver Assistance Systems (ADAS) Market Size, Trends and Insights By System Type (Intelligent Park Assist (IPA), Lane Departure Warning (LDW), Road Sign Recognition (RSR), Tire Pressure Monitoring System (TPMS), Night Vision System (NVS), Automatic Emergency Braking (AEB), Adaptive Cruise Control (ACC), Adaptive Front Light (AFL), Blind Spot Detection (BSD), Cross Traffic Alert (CTA), Driver Monitoring System (DMS), Forward Collision Warning (FCW), Others), By Sensor Type (Image Sensors, Ultrasonic Sensors, LiDAR, Radar Sensors, Infrared (IR) Sensors, Laser Sensors), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Truck, Bus), By Level of Autonomy (L1, L2, L3, L4, L5), By Electric Vehicle (Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032" in its research database.

"According to the latest research study, the demand of global Advanced Driver Assistance Systems (ADAS) Market size & share was valued at approximately USD 18.2 Billion in 2022 and is expected to reach USD 24.50Billion in 2023 and expected to reach a value of around USD 81.17 Billion by 2032, at a compound annual growth rate (CAGR) of about 18.2% during the forecast period 2023 to 2032."

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Advanced Driver Assistance Systems ADAS Market: Growth Factors and Dynamics

The Advanced Driver Assistance Systems Market is experiencing significant growth due to several factors. The increasing focus on safety and rising demand for luxury vehicles are driving the demand for ADAS systems. Consumers are willing to pay for advanced safety features that provide enhanced protection and peace of mind. Additionally, governments around the world are mandating the use of advanced safety features in vehicles to reduce the number of accidents and fatalities on the roads.

Another key growth driver for the ADAS market is the development of autonomous driving technology. ADAS systems are a crucial component of autonomous vehicles, and as technology advances, the demand for ADAS systems is expected to increase significantly.

Furthermore, the growing trend of electrification in the automotive industry is expected to drive the adoption of ADAS systems. As electric vehicles become more mainstream, the need for advanced safety features to protect their battery systems and ensure their safe operation will increase.

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Report Scope

(A free sample of the Advanced Driver Assistance Systems (ADAS) report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

(Please note that the sample of the Advanced Driver Assistance Systems (ADAS) report has been modified to include the COVID-19 impact study prior to delivery.)

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Advanced Driver Assistance Systems ADAS Market: COVID-19 Analysis

The COVID-19 pandemic has affected the global economy, and the automotive industry is no exception. The ADAS market has also been impacted by the pandemic. During the initial phase of the pandemic, the market experienced a decline in demand due to the halt in production and supply chain disruptions. However, with the easing of restrictions and resumption of production, the market has gradually recovered.

The pandemic has also accelerated the adoption of ADAS technology in vehicles, as it helps in maintaining social distancing and reduces the need for human intervention while driving. The trend of contactless technology has also boosted the demand for ADAS systems. Additionally, governments across the world are implementing stringent regulations and guidelines to ensure road safety, which has further increased the demand for ADAS systems.

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The adoption of ADAS technology is expected to increase in the coming years as consumers become more aware of the benefits of these systems in terms of safety and convenience. In general, while the COVID-19 pandemic initially impacted the ADAS market , it has also accelerated its adoption in the long run due to changing consumer preferences and government regulations.

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Advanced Driver Assistance Systems (ADAS) Market – Regional Analysis

The Advanced Driver Assistance Systems (ADAS) market is segmented into several regions, including North America, Europe, Asia Pacific, Middle East & Africa, and South America.

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Browse the full "Advanced Driver Assistance Systems (ADAS) Market Size, Trends and Insights By System Type (Intelligent Park Assist (IPA), Lane Departure Warning (LDW), Road Sign Recognition (RSR), Tire Pressure Monitoring System (TPMS), Night Vision System (NVS), Automatic Emergency Braking (AEB), Adaptive Cruise Control (ACC), Adaptive Front Light (AFL), Blind Spot Detection (BSD), Cross Traffic Alert (CTA), Driver Monitoring System (DMS), Forward Collision Warning (FCW), Others), By Sensor Type (Image Sensors, Ultrasonic Sensors, LiDAR, Radar Sensors, Infrared (IR) Sensors, Laser Sensors), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Truck, Bus), By Level of Autonomy (L1, L2, L3, L4, L5), By Electric Vehicle (Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032" Report at https://www.custommarketinsights.com/report/advanced-driver-assistance-systems-market/

List of the prominent players in the Advanced Driver Assistance Systems ADAS Market :

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The Advanced Driver Assistance Systems ADAS Market is segmented as follows:

By System Type

By Sensor Type

By Vehicle Type

By Level of Autonomy

By Electric Vehicle

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By Region

North America

Europe

Asia Pacific

The Middle East & Africa

Latin America

This Advanced Driver Assistance Systems (ADAS) Market Research/Analysis Report Contains Answers to the following Questions .

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