Advance Driver Assistance System Market
Global Advanced Driver Assistance Systems Market is estimated to be valued at USD 340.5 Mn in 2024 and is expected to reach USD 680.3 Mn by 2031, growing at a compound annual growth rate (CAGR) of 10.4% from 2024 to 2031.
Advanced Driver Assistance Systems (ADAS) are electronic components installed in vehicles to help the driver in different driving conditions. The ADAS technology uses inputs from cameras, radars, and other sensors installed on the vehicle to detect the vehicle's surroundings. It analyses the information and assists the driver to avoid accidents or unintended lane departures. The ADAS market has been witnessing high growth due to rising concerns for road safety and growing demand for luxury vehicles with advanced safety technologies. With continuous technological advancements, ADAS is gaining popularity and expected to reduce accident rates significantly in coming years.
Market Dynamics:
The Advanced Driver Assistance Systems market is driven by the rise in safety concerns among customers and stringent regulations regarding vehicle safety. The increasing demand for luxury and premium vehicles integrated with advanced driver assistance features is fueling market growth. However, high development cost of these systems acts as a restraint. The development of autonomous vehicles provides huge opportunities to boost the adoption of ADAS technologies. Rise in technology integration of AI, 5G, and cloud computing in driver assistance systems will further create new growth avenues.
Key features of the study:
- This report provides in-depth analysis of the global Advanced Driver Assistance Systems market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global Advanced Driver Assistance Systems market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include Altera Corporation (Intel Corporation), Autoliv Inc., DENSO CORPORATION, Continental AG, Garmin Ltd., Infineon Technologies AG, Magna International Inc., Mobileye, Wabco Holdings Inc, Valeo SA, and Robert Bosch GmbH.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- The global Advanced Driver Assistance Systems market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Advanced Driver Assistance Systems market.
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on 'Advanced Driver Assistance Systems Market' - Global forecast to 2031
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